Photo: economictimes.indiatimes.com
India's Gold Demand Falls 16% as Prices Surge, Shifting Focus to Investment
Indias gold demand plunged 16% in Q3, 2023, driven by soaring prices, while investment in gold surged, indicating a shift towards long-term assets, according to the World Gold Council.
- In the July-September quarter of 2023, Indias total gold demand fell to 209.4 tonnes, marking a 16% year-on-year decrease, despite a 23% increase in value due to rising prices.
- Jewellery demand in India dropped significantly by 31% to 117.7 tonnes, while investment demand for gold surged 20% to 91.6 tonnes, reflecting a consumer shift towards bars and coins.
- The World Gold Council noted that the increase in gold prices is influenced by ongoing geopolitical tensions and central bank policies, impacting consumer behavior in the Indian market.
Por Qué Es Relevante
This decline in Indias gold demand highlights changing consumer preferences as higher prices drive investments in gold as a stable asset. The shift toward investment reflects broader economic trends influenced by geopolitics and central bank strategies, underscoring golds evolving role in financial security.