India's Gold Demand Drops 11% in 2025 Amid Record Prices: WGC Report

• India's gold demand fell by 11% to 710.9 tonnes in 2025, down from 802.8 tonnes in 2024, primarily due to record-high prices and changing consumer buying patterns.
• Despite the volume decline, the value of gold demand surged by 30% to Rs 7,51,490 crores in 2025, driven by a 67% increase in average gold prices.
• Jewellery demand decreased by 24% to 430.5 tonnes in 2025, with record prices and affordability issues impacting consumption even during the wedding season.
• Investment demand, however, saw a significant rise, increasing by 26% year-on-year to 96 tonnes, with its value more than doubling to Rs 120,700 crore.
• WGC forecasts India's gold demand to be between 600-700 tonnes in 2026, anticipating continued benefits from global uncertainties and a softer interest rate environment.

Why It Matters: Record high gold prices led to an 11% drop in India's gold demand by volume in 2025, but value surged.