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Global Gold Demand Rises in Q1 2025 Despite Indian Jewellery Sales Slump

WGC Sees India’s Annual Demand at 700–800 Tonnes Amid Record Prices; Investment Demand Up, Jewellery Demand Hits Five-Year Low

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Global gold demand rose 1% year-on-year to 1,206 tonnes in the January–March 2025 quarter, marking the highest first-quarter level since 2019, according to the World Gold Council (WGC). However, India—one of the world’s largest gold consumers—saw a 15% decline in overall gold demand during the same period, dropping to 118.1 tonnes, largely due to soaring gold prices.

Despite the volume drop, the value of gold demand in India surged 22% as retail prices jumped to ₹94,030 per 10 grams during the March quarter. Prices climbed even higher in April, breaching the ₹1 lakh per 10 grams mark in retail markets, driven by international gold prices reaching an unprecedented $3,500 per ounce.

The WGC has forecast India’s gold demand for the full year at 700 to 800 tonnes, despite affordability pressures. The average price during Q1 2025 was ₹79,633.4 per 10 grams, a significant increase from ₹55,247.2 in Q1 2024.

India’s investment demand for gold showed resilience, rising 7% to 46.7 tonnes, compared to 43.6 tonnes in the same period last year. In contrast, jewellery demand dropped sharply by 25% to 71.4 tonnes, down from 95.5 tonnes—the lowest volume since 2020. However, jewellery demand value still rose 3% year-on-year due to the elevated prices.

Meanwhile, gold imports in India rose 8% to 167.4 tonnes, while recycling volumes fell 32% to 26 tonnes as consumers preferred to hold onto their gold assets amid rising prices.

“Elevated prices have impacted affordability. Yet, the enduring cultural significance of gold—especially ahead of Akshaya Tritiya and the upcoming wedding season—continues to support buying sentiment,” said Sachin Jain, WGC India CEO.

As Akshaya Tritiya approaches, traditionally a peak time for gold purchases, consumers are adjusting their buying patterns. Many are opting for lighter jewellery or postponing purchases in hopes of a price correction. Still, experts believe gold’s dual appeal as a cultural staple and a reliable investment will sustain positive momentum in demand.

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Harit Zaveri Jewellers Celebrates A Bride’s Royal Spirit In An Indian Wedding With Its New Polki Collection

A Celebration Of Regal Femininity, Heirloom Craftsmanship, and The Refreshing Depth Of Emeralds.

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June 2026 A bride’s jewellery is never merely ornamental, it carries sentiment, memory, and the quiet power of tradition. With its newest Polki Collection, Harit Zaveri Jewellers introduces a refined take on royal Indian bridal jewellery, thoughtfully designed for the modern bride who embraces heritage while expressing her individuality with confidence and grace.

Crafted between 18kt to 14kt gold and enriched by Emeralds, Harit Zaveri Jewellers Polki collection celebrates a bride in her most transformative moment – poised between reflection and becoming. Every jewellery piece in the collection is designed to accompany her through this pause.

At the heart of the collection lies the richness of polki craftsmanship – raw, uncut diamonds admired for their old-world charm and regal appeal, long associated with royal Indian heirlooms. Paired with vivid emeralds, known to symbolise renewal, harmony, love, and abundance, the collection brings together heritage and elegance. The richness of green emeralds adds depth and freshness, creating jewels that feel both classic and strikingly modern.

The collection features an expansive range of statement and versatile pieces including necklaces, kadas, rings, earrings, and bridal sets, thoughtfully embellished with emeralds, pearls, and polki detailing.

This collection from Harit Zaveri Jewellers compliments classic reds and heritage weaves to contemporary ivories, pastels, and couture silhouettes. Whether layered with a traditional lehenga, paired with a modern sari drape, or styled for intimate pre-wedding celebrations, these pieces seamlessly adapt while elevating every bridal look with a quiet majesty.

These pieces are envisioned as modern heirlooms, where meticulous craftsmanship, precious materials, and timeless artistry come together to create pieces worthy of being passed down through generations.

Harit Zaveri, Joint Managing Director at Harit Zaveri Jewellers said:

“At Harit Zaveri Jewellers, we have always believed bridal jewellery should feel personal, something that reflects a bride’s story and individuality. Many of our clients naturally gravitate towards one-of-a-kind pieces that resonate with their personality and become part of their memories for years to come. With this Polki collection, we wanted to celebrate craftsmanship with the richness of emeralds, a stone that beautifully complements a variety of bridal colours and effortlessly completes a look. Above all, quality remains at the heart of everything we create because we believe jewellery should feel as enduring as the memories and moments attached to it.”

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