The latest decline in demand is an extension of recent trends: India’s jewellery demand in 2025 fell 24% from a year earlier, partially offset by a 17% rise in investment , the highest since 2013, according World Gold Council data.
Gold-buying patterns in India are changing, with purchases no longer concentrated only during festivals as price-sensitive buyers make purchases throughout the year whenever prices dip, said a Mumbai-based bullion dealer with a private bank.
India issued an order on Friday listing banks authorized to import gold and silver, providing relief for banks that were forced to halt imports because the list’s publication was delayed.












