India’s gold demand falls 15% to 118.1 tn in Mar qtr

New Delhi: India’s gold demand witnessed a 15 per cent on-year decline to 118.1 tonne in the January-March quarter of this year, even as value grew by 22 per cent to Rs94,030 crore due to surging prices, the World Gold Council (WGC) said on Wednesday.

According to the WGC forecast, India’s gold demand for 2025 is expected to be between 700-800 tonne. Gold prices have risen 25 per cent since the beginning of 2025, approaching the key psychological threshold of Rs1,00,000 per 10 grams, affecting consumer buying patterns.

“The elevated prices have impacted affordability. Yet, the enduring cultural significance of gold, especially ahead of Akshaya Tritiya and the upcoming wedding season, continues to support buying sentiment,” WGC India CEO Sachin Jain said in its quarterly report.

According to experts, the gold market is humming with excitement on the auspicious occasion of Akshaya Tritiya, which holds immense cultural significance in India, traditionally marking a surge in gold purchases.