Gold Investments in India Surge by 60% in 2024

On 5th February 2025, according to a World Gold Council (WGC) report, India's gold investments rose by 60% in 2024, reaching $18 billion (approximately Rs 1.5 lakh crore).

Key Points

Investment Growth: Gold investment demand stood at 239 tonnes, marking its highest level since 2013 and a 29% increase from 185 tonnes in 2023.
Quarterly Performance: The October-December quarter recorded 76 tonnes of demand, nearly matching the previous quarter’s levels.
Global Share: India accounted for 20% of global gold investment demand, which stood at 1,180 tonnes in 2024.
Price Trends: The surge was driven by a steady rise in gold prices throughout the year, further influenced by a correction in November.
Urban & E-Commerce Growth: Metro cities saw heightened buying, supported by e-commerce platforms offering rapid delivery of gold bars and coins.
Stock Market Impact: A weaker stock market in the latter half of 2024 made gold an attractive alternative investment.
Geopolitical & Economic Factors: Uncertainties, interest rate expectations, and gold’s best price performance since 2010 further drove global demand.