CHENNAI: Gold jewellery demand in India grew 93% to a six-year high of 611 tonne in 2021 from 316 tonne in 2020. As increase in number of weddings, higher savings and pent-up demand boosted the jewellery market, many retailers reported record sales volume in the previous year.
In value terms, jewellery demand in 2021 was at Rs 2.6 lakh crore, up 96% from Rs 1.3 lakh crore in 2020. Overall gold demand increased to 797 tonne in 2021, as compared to 446.4 tonne in 2020, according to World Gold Council data.
“India’s gold demand recovered by 79% to 797 tonne in 2021, chiefly a result of an exceptional Q4 (October-December) demand of 343 tonne that surpassed even our most optimistic expectation articulated in Q3 and turned out to be the best quarter in our recorded data series,” Somasundaram P R, regional CEO, India, World Gold Council, said.
Overall investment demand for Q4 2021 was up by 61% at 79 tonne, in comparison with Q4 2020 (49 tonne). In value terms, gold investment demand was Rs 34,130 crore, an increase of 57% from Rs 21,730 crore in Q4 2020.
On the other hand, digital gold savings also rose impressively due to their ease and safety, a pointer to altering future buying behaviour in investment gold.
In value terms, jewellery demand in 2021 was at Rs 2.6 lakh crore, up 96% from Rs 1.3 lakh crore in 2020. Overall gold demand increased to 797 tonne in 2021, as compared to 446.4 tonne in 2020, according to World Gold Council data.
“India’s gold demand recovered by 79% to 797 tonne in 2021, chiefly a result of an exceptional Q4 (October-December) demand of 343 tonne that surpassed even our most optimistic expectation articulated in Q3 and turned out to be the best quarter in our recorded data series,” Somasundaram P R, regional CEO, India, World Gold Council, said.
Overall investment demand for Q4 2021 was up by 61% at 79 tonne, in comparison with Q4 2020 (49 tonne). In value terms, gold investment demand was Rs 34,130 crore, an increase of 57% from Rs 21,730 crore in Q4 2020.
On the other hand, digital gold savings also rose impressively due to their ease and safety, a pointer to altering future buying behaviour in investment gold.
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