India's Gold Investments Soar 60% to ₹1.5 Lakh Crore in 2024
In 2024, India witnessed a remarkable 60% surge in gold investments, reaching $18 billion (approximately ₹1.5 lakh crore), as per a report by the World Gold Council (WGC). This increase was driven by rising gold prices, reduced import duties, and heightened demand during festive seasons. India’s gold investment demand reached 239 tonnes—the highest since 2013—accounting for 20% of the global gold investment demand. This article explores the key factors behind this surge and its implications.
Summary/Static | Details |
Why in the news? | India’s Gold Investments Soar 60% to ₹1.5 Lakh Crore in 2024 |
Total Investment Growth | 60% increase, reaching ₹1.5 lakh crore ($18 billion) |
Gold Investment Demand (India) | 239 tonnes (Highest since 2013) |
Gold Investment Demand (2023) | 185 tonnes |
India’s Share in Global Demand | 20% of global gold investment demand (1,180 tonnes) |
Global Gold Investment Growth | 25% increase (from 945.5 tonnes in 2023 to 1,180 tonnes in 2024) |
Key Factors Driving Growth | Rising gold prices, reduced import duties, festive demand, weak stock markets, e-commerce sales, geopolitical uncertainties |
Festive Season Boost | Increased buying during Dhanteras and Diwali (Oct–Nov 2024) |
Quarterly Demand (Q4 2024) | 76 tonnes, close to Q3 levels |
Gold ETFs Performance | Recovered after hitting a 4-year low of 3,080 tonnes in April 2024 |
Future Outlook | Expansion into ETFs, mutual funds, and continued investor interest |
There is a country in Europe that is world-famous for its beautiful and colorful flowers.…
Uttar Pradesh is a state known for its rich culture, traditions and unique cities. Many…
Veteran BJP leader and former Union Minister Dr. Debendra Pradhan passed away on Monday in…
There is a city in the United States that is known for its fast growth,…
In a significant step towards strengthening healthcare infrastructure, the Delhi government will sign a Memorandum…
In a significant step toward strengthening India's air defence capabilities, Bharat Electronics Limited (BEL) has…