"jewellery-demand"

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

This sharp growth was due to robust consumer demand and stocking up ahead of upcoming festivals including Akshaya Tritiya in May 2021.

With economic activities reaching pre-pandemic levels, the agency expects the momentum to continue into FY22, backed by a softening of gold prices.