India and Kenya unveil commemorative pillar honouring WWI soldiers
The ceremony paid tribute to the valour and supreme sacrifice of the unknown Indian and African soldiers who laid down their lives during World War I in the East African theatre.
The World Gold Council (WGC) on Wednesday said the share of investment demand in India’s total gold consumption will likely rise in 2025.
It said the rally comes as the price rally curtails jewellery demand but lures investors trying to diversify their portfolios amid geopolitical tensions.
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In conversation with news agency Reuters, Sachin Jain, CEO of WGC’s Indian operations said that the correction in the stock market amid concerns over a global trade war has been driving investment demand, especially through gold exchange-traded funds (ETFs), while jewellery demand is taking a hit.
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Reuters said that India’s jewellery demand in the January-March quarter fell 25% from a year ago to 71.4 metric tonnes. The investment demand experienced a 7% rise to 46.7 tonnes.
It is to be noted that the domestic gold prices hit a record high of ₹99,358 per 10 grams earlier this month.
It has risen 25% so far in 2025 after rising more than 21% in 2024.
Notably, WGC maintained its gold demand forecast for India at between 700 tonnes and 800 tonnes for 2025. This is down from last year’s 802.8 tonnes, which was the highest since 2015.
In the March quarter, scrap supplies fell 32% from a year ago to 26 tonnes, the data showed.
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