Jewellery stocks in India fell sharply after Prime Minister Narendra Modi urged citizens to postpone non-essential gold purchases to conserve foreign exchange amid global energy concerns. Companies like Titan, Kalyan Jewellers and Senco Gold saw heavy losses as demand fears weighed on the sector
India’s gold demand fell 11% to 710.9 tonnes in 2025 due to record-high prices, but value rose 30% to ₹7.51 lakh crore. Jewellery demand declined, while investment demand surged. 2026 demand is projected at 600–700 tonnes
Global gold demand remained largely flat in 2024, registering a marginal 1 per cent growth from the previous year to 4,974 tonnes, mainly due to a decline in jewellery demand following high prices, softer economic growth and heightened global uncertainties, says World Gold Council
