High Bullion Prices Mute Demand For Gold In Peak Oct-Dec Period

In its latest report detailing trends from 2024, the World Gold Council has said that India's gold demand has shown mixed trends, with a slight decline in the December quarter but an overall increase for 2024. The report reveals that gold demand fell by 0.2% year-on-year to 265.8 tonnes in the last quarter of 2024, primarily due to a decrease in jewellery consumption. However, total gold demand for the year reached 802.8 tonnes, marking a 5.5% increase from 2023. According to the Council, despite fluctuating prices, investment demand surged nearly 14% in the final quarter, driven by events like Dhanteras and Diwali. The value of gold demand soared by 37% year-on-year to ₹1.92 lakh crore during this period. Additionally, Reserve Bank of India significantly boosted its gold reserves by 73 tonnes to 876 tonnes.