Latest news with #WGCIndia
Hans India
01-05-2025
- Business
- Hans India
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.
New Indian Express
30-04-2025
- Business
- New Indian Express
High price dent gold demand by 15% in Jan-March to 118.1 tonne: WGC
MUMBAI: Gold demand fell 15% year-on-year to 118.1 tonnes in the March quarter in India, even as its value rose 22% to ₹94,030 per 10 grams due to surging prices, according to the World Gold Council (WGC). In April, prices climbed further, crossing the ₹1 lakh mark in retail markets as international gold rates hit a record $3,500 per ounce (28.35 grams). Given the price rally, the WGC forecasts that the country's gold demand in 2025 is expected to be 700-800 tonnes. Investment demand, however, remained resilient with a 7% rise to 46.7 tonne, up from 43.6 tonne in the corresponding period, the WGC said, adding however, jewellery demand declined by 25% to 71.4 tonne during the reporting quarter from 95.5 tonne in the year-ago period. This is the lowest volume since 2020, though value rose 3% on-year. Gold imports rose 8% to 167.4 tonne in the March quarter, while recycling fell 32% to 26 tonne, as consumers held onto their gold amid record prices. The average quarterly gold price in the first quarter was Rs 79,633.4/10 grams, compared to Rs 55,247.2 in Q1 of 2024. Meanwhile, global demand increased 1% to 1,206 tonne in the reporting period-- the highest first-quarter level since 2019. Gold prices have risen more than 25% since the beginning of 2025, after rallying more around 32% in by April as the US tariff tantrums along with central banks' demand kept the save haven asset highly wanted. In 2024 the metal had rallied 24%. "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 chief executive Sachin Jain said Wednesday. According to experts, gold is humming with excitement on the auspicious occasion of Akshaya Tritiya, which holds immense cultural significance in the country, traditionally marking a surge in gold purchases. But record prices have pushed consumers towards smaller, lightweight pieces, with some postponing purchases hoping for price dips. While current prices may prompt some to exercise caution, the inherent cultural significance of gold during Akshaya Tritiya, coupled with its enduring status as a reliable asset, suggests continued positive momentum in buying.
The Hindu
30-04-2025
- Business
- The Hindu
India's gold demand falls 15% in January-March to 118.1 tonnes on high prices: World Gold Council
'India's gold demand witnessed a 15% on-year decline to 118.1 tonnes in the January-March quarter of this year, even as value grew by 22% to ₹94,030 crore owing to surging prices,' the World Gold Council (WGC) said on Wednesday (April 29, 2025.) According to the WGC forecast, India's gold demand for 2025 is expected to be between 700-800 tonnes. Gold prices have risen 25% since the beginning of 2025, approaching the key psychological threshold of ₹1,00,000 per 10 gm, 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. Record prices have pushed consumers towards smaller, lightweight pieces, with some postponing purchases hoping for price dips. Despite this, wedding-related demand remained relatively stable given its essential nature. Gold prices cool from record high, but is the rally just getting started? 'Experts believe, while the current price levels might prompt some to exercise caution, the inherent cultural significance of gold during Akshaya Tritiya, coupled with its enduring status as a reliable asset, suggests continued positive momentum in buying,' they added. Investment demand, however, remained resilient with a 7% rise to 46.7 tonnes, from 43.6 tonnes in the corresponding period. Moreover, amid financial market uncertainty, gold's role as a safe asset has become more pronounced, and got reflected in a sharp uptick in demand for gold bars and coins. However, jewellery demand declined by 25% to 71.4 tonnes during the first quarter of 2025 calendar year, from 95.5 tonnes in the year-ago period. This was the lowest volume since 2020, though value was 3% higher year-on-year, according to WGC. Gold imports rose 8% to 167.4 tonnes in the January-March quarter, while recycling fell 32% to 26 tonnes, as consumers held onto their gold amid record prices. The average quarterly gold price in the first quarter of this year was ₹79,633.4 per ten gram, compared to ₹55,247.2 in Q1 2024. Meanwhile, global gold demand has increased 1% to 1,206 tonnes in the January-March quarter of 2025 — the highest first-quarter level since 2019.
News18
30-04-2025
- Business
- News18
India's Gold Demand Falls 15% In January-March To 118.1 Tonnes On High Prices: WGC
'The elevated prices have impacted affordability. Yet, the enduring cultural significance of to support buying sentiment,' says WGC India CEO Sachin Jain. India's gold demand witnessed a 15 per cent on-year decline to 118.1 tonnes in the January-March quarter of this year, even as value grew by 22 per cent to Rs 94,030 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 tonnes. Gold prices have risen 25 per cent since the beginning of 2025, approaching the key psychological threshold of Rs 1,00,000 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. Record prices have pushed consumers towards smaller, lightweight pieces, with some postponing purchases hoping for price dips. Despite this, wedding-related demand remained relatively stable given its essential nature. Experts believe, while the current price levels might prompt some to exercise caution, the inherent cultural significance of gold during Akshaya Tritiya, coupled with its enduring status as a reliable asset, suggests continued positive momentum in buying, they added. Investment demand, however, remained resilient with a 7 per cent rise to 46.7 tonnes, from 43.6 tonnes in the corresponding period. However, jewellery demand declined by 25 per cent to 71.4 tonnes during the first quarter of 2025 calendar year, from 95.5 tonnes in the year-ago period. This was the lowest volume since 2020, though value was 3 per cent higher year-on-year, according to WGC. Gold imports rose 8 per cent to 167.4 tonnes in the January-March quarter, while recycling fell 32 per cent to 26 tonnes, as consumers held onto their gold amid record prices. The average quarterly gold price in the first quarter of this year was Rs 79,633.4 per ten grams, compared to Rs 55,247.2 in Q1 2024. Meanwhile, global gold demand has increased 1 per cent to 1,206 tonnes in the January-March quarter of 2025 — the highest first-quarter level since 2019. (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI)
