Indias Gold question drops 15 pieces in Jan-Mar to 118.1 tons at high prices: WGC

New Delhi, April 30 (PTI), India’s gold demand was a decrease of 15 percent to 118.1 tonnes in the January March of this year, even as value grew by 22 percent to £ 94,030 due to increasing prices, the World Gold Council (WGC) said on Wednesday. According to the WGC forecast, India’s gold question will be between 700-800 tonnes after 2025. Gold prices have risen by 25 percent since the beginning of 2025, approaching the most important psychological threshold of £ 1,00,000 per 10 grams, affecting consumer buying patterns. “The increased prices affected affordability. Yet the lasting cultural importance of gold, especially before Akshaya Tritiya and the upcoming marriage season, still supported the sale sentiment,” WGC India CEO Sachin Jain said in his quarterly report. According to experts, the golden market is excitement at the favorable opportunity of Akshaya Tritiya, which has a tremendous cultural interest in India, which traditionally has a boom in golden purchases. Record prices have driven consumers towards smaller, lightweight pieces, with some delay purchases in the hope of price dips. Despite this, the marriage -related question remained relatively stable, given its essential nature. Experts believe that the inherent cultural importance of gold during Akshaya Tritiya, together with the lasting status as a reliable asset, is constantly a positive momentum in buying the current status as a reliable asset, is the ongoing positive momentum in sale. However, the demand for investments remained resilient with an increase of 7 percent to 46.7 tonnes, from 43.6 tonnes in the corresponding period. In the midst of uncertainty about financial markets, Gold’s role as a safe asset has become more clear and reflected in a sharp increase in demand for gold bars and coins. However, the demand for jewelry fell by 25 percent to 71.4 tonnes during the first quarter of 2025 calendar year, from 95.5 tonnes in the previous year. According to WGC, this has been the lowest volume since 2020, although the value was 3 percent higher. Gold imports increased by 8 percent to 167.4 tonnes in the quarter of January, while recycling fell by 32 percent to 26 tonnes, as consumers kept their gold in the midst of record prices. The average quarterly gold price in the first quarter of this year was £ 79,633.4 per ten grams compared to £ 55,247,2 in Q1 2024. Meanwhile, the global gold demand rose 1 percent to 1,206 tonnes in the January March of 2025-the highest first-quart level since 2019.