Gold demand in India is projected to reach 750 tonnes in 2024, according to World Gold Council (WGC) India CEO, Somasundaram PR. This forecast highlights the continued strong appetite for gold in the country, driven by cultural significance and economic factors. Jain attributes this expected demand to several key factors, including the traditional importance of gold in Indian weddings and festivals, ongoing economic stability, and an increase in disposable incomes. Additionally, the recent global economic uncertainties and geopolitical tensions have reinforced gold’s role as a safe-haven asset, further bolstering demand.
Source:- BBC news
The projection underscores India’s status as one of the largest consumers of gold globally, reflecting both a robust domestic market and a growing preference for the metal as a financial asset.
Source:- India today
The increase in demand is expected to impact global gold markets and pricing, as India remains a significant player in the precious metals sector. WGC’s forecast is based on current market trends and consumer behaviors, which suggest that gold will continue to be a preferred choice for investment and consumption in India.
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