Gold beats jewellery in India for first time as investors turn cautious

Published on 29 April 2026

Equities cooled and gold prices climbed fast

For the first time in India, investment demand for gold overtook jewellery consumption in the March quarter, hitting 82 metric tons versus 66 metric tons. The change is linked to muted equity market returns and rising gold prices, lifting gold’s share to 54.3% of total consumption as overall demand climbed 10.2% to 151 tons.

Gold investment demand rose to 82 metric tons in March
Jewellery consumption fell to 66 metric tons for the quarter
Gold accounted for 54.3% of total consumption in the period
Investors shifted amid subdued equity returns and higher gold prices

#jewellery #equity markets #investment demand #indian economy #gold

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Gold beats jewellery in India for first time as investors turn cautious

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