Demand for gold jewelry plunged 25% to 71.4 tonnes through the interval, whereas elevated costs, which rallied to surpass ₹1 lakh per 10 grams for the primary time, bolstered the steel’s attraction as a safe-haven asset amongst customers. Funding demand remained resilient, rising 7% year-on-year to 46.7 tonnes, pushed by rising curiosity in gold exchange-traded funds (ETFs), digital gold, cash and bars.
On Wednesday, gold costs have been hovering round ₹95,689 per 10 grams within the bodily market.
Patrons Go for Light-weight Items
On the retail finish value was Rs 98,469 per 10 grams with a 3% items and providers tax.The sharp improve in costs prompted customers to purchase smaller or light-weight items, or maintain again on purchases altogether within the hope that costs may dip and provide a extra inexpensive shopping for alternative. Wedding ceremony-related demand was comparatively resilient, given the important nature of such purchases, stated the WGC demand development report. “Nonetheless, this decline in quantity was offset by a 22% surge within the total worth of demand, propelled by hovering world gold costs which have risen 25% since January 2025,” stated Sachin Jain, regional CEO, India, of WGC.
By way of worth, gold gross sales within the January-March interval amounted to ₹94,030 crore, up from ₹76,820 crore a 12 months in the past.Globally, the demand for gold stood at 1,206 tonnes, a 1% improve year-on-year, at a time when costs surpassed $3,000 per troy ounce for the primary time. Gold recycled in India through the first quarter of 2025 totalled 26 tonnes, down 32% from 38.3 tonnes within the earlier three-month interval. India imported 167.4 tonnes of gold, 8% greater than it did a 12 months in the past.Jain stated gold retailers are optimistic about the remainder of the 12 months, regardless of ongoing uncertainties. “The 8% rise in gold imports to 167.4 tonnes in Q1 2025 additional reinforces the supply-side preparedness by Indian jewelry retailers. In distinction, gold recycling fell by 32% to 26 tonnes, as customers retained their holdings amid file excessive costs. Our total forecast for Indian gold demand for 2025 is between 700-800 tonnes,” he stated.
