Gold Demand will decrease this year. Actually there is a record increase in the price of gold. Due to this, people are not able to buy gold even after wishing. According to the report released by the World Gold Council (WGC) on Wednesday, the demand for gold in the country was 802.8 tonnes in 2024. At the same time, it is estimated to be reduced between 700-800 tonnes in 2025. The total value of gold demands increased by 31 percent to Rs 5,15,390 crore in 2024. It was Rs 3,92,000 crore in 2023. WGC Regional Chief Executive Officer (India) Sachin Jain said, “We estimate for 2025 that gold demand will be between 700-800 tonnes.” It is expected that the shopping related to marriage will improve demand for gold jewelery provided the prices bring somewhat stability. Significantly, the price of gold has reached a record high.
Gold booms for fifth consecutive day
According to the All India Bullion Association, gold prices in the national capital continued to rise in the fifth consecutive trading session in the national capital on Tuesday amidst strong demand from jewelery vendors and retailers and it reached a new peak of Rs 85,800 per 10 grams in the fifth consecutive trading session in the national capital. . This year, gold rose by Rs 6,410 or 8.07 percent to Rs 85,800 per 10 grams, on January 1, Rs 79,390 per 10 grams. WGC’s gold demand trend, 2024 report stated that the demand during the fourth quarter (October-December) stood at 265.8 tonnes, which is similar to 266.2 tonnes in the same period of 2023. The demand for jewelery declined by two percent to 563.4 tonnes in 2024, which was 575.8 tonnes in 2023. In 2024, gold imports fell by four percent to 712.1 tonnes. It was 744 tonnes in 2023.
RBI buying gold
Jain said that apart from this, the Reserve Bank of India (RBI) was an important buyer in 2024 to buy 73 tonnes of gold, which is four times more than the purchase of 16 tonnes of gold in 2023. In addition, it is estimated that the trend of strong investment demand in gold will continue. Retail investors are showing interest in gold ETF, digital gold and coins and bars. Meanwhile, the demand for gold in 2024 was largely stable at a great extent. It stood at 4,974 tonnes with one percent slight increase compared to 2023. The main reason for this is the decline in demand for jewelery following high prices, weak economic growth and increasing global uncertainties. According to the WGC report, the total gold demand in 2023 was 4,945.9 tonnes in 2023, which increased to 4,974 tonnes in 2024.
Latest business news