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India’s Gold Consumption Seen Falling 12% in 2025 as Prices Weigh on Jewellery Demand: WGC

Soaring gold prices curb jewellery buying, while investment demand stays resilient; lightweight 22-karat jewellery remains preferred.

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India’s gold consumption is projected to decline 12% this year to 650–700 tonnes, down from 802.8 tonnes in 2024, as a sharp rise in prices dampens demand in one of the world’s largest bullion markets, according to the World Gold Council (WGC) India.

Gold prices have surged over 65% since January, pushing the retail price to around Rs.1,32,394 per 10 grams. Elevated prices have strained affordability, particularly for jewellery buyers, even during the peak wedding season.

Despite higher prices, consumers continue to prefer 22-karat lightweight plain gold jewellery, rather than shifting to lower-karat options such as 18K, 14K, or 9K—despite the availability of hallmarking for these categories. “Indians will take time to shift to lower-karat gold jewellery,” said Sachin Jain, CEO, WGC India.

Gold demand shows a clear divergence: investment demand remains strong, while the jewellery segment is under pressure. Industry feedback indicates year-on-year declines in jewellery volumes as higher prices curb consumption. India’s total gold consumption stood at 462.4 tonnes during January–September, WGC data showed.

In value terms, gold imports rose 2% year-to-date to $55 billion, but volumes fell by about 20% to ~580 tonnes, underscoring that value growth is price-led rather than volume-driven. Mid- and small-ticket segments—critical to mass demand—remain particularly impacted.

High net-worth individuals have continued buying heavier gold pieces (100–400 grams), attracted by the ongoing price rally, though this has not been sufficient to offset broader volume weakness. Price volatility is also constraining discretionary and everyday jewellery purchases.

Retail performance reflects this split: large and mid-sized jewellers are reporting relatively healthier sales supported by higher ticket sizes and wedding-led purchases, while small and standalone jewellers face mounting pressure.

Meanwhile, investment-focused buying—especially bars and coins—continues to gain traction. Gold imports for investment surged to 340 tonnes between July and October, up from 204 tonnes between January and June, with even entry-level consumers opting for coins amid the sustained price rally.

source: World Gold Council

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Bhima Gold Unveils Ashtalakshmi Coin Collection for Akshaya Tritiya, Blending Devotion with Exquisite Design

A culturally rooted, insight-led launch that reimagines festive gold buying through storytelling, symbolism, and spiritual relevance.

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In a move that blends cultural storytelling with product innovation, Bhima Gold has unveiled its Ashtalakshmi Coin Collection for Akshaya Tritiya – positioning gold not just as a purchase, but as a deeply symbolic expression of prosperity, faith, and intent.

Timed with one of India’s most significant gold-buying occasions, Akshaya Tritiya, the launch reflects a deeper cultural shift in consumer behaviour. While the festival continues to drive strong purchase intent, there is a growing preference for meaningful, purpose-led buying experiences over purely transactional consumption.

Aligned with this evolving mindset, the Ashtalakshmi coin collection has been thoughtfully conceptualised to blend tradition with deeper symbolism. Inspired by the eight sacred forms of Goddess Lakshmi, each coin represents a distinct dimension of prosperity—from wealth and nourishment to courage, knowledge, and continuity.

By bringing together Adi Lakshmi, Dhana Lakshmi, Dhanya Lakshmi, Gaja Lakshmi, Santana Lakshmi, Veera Lakshmi, Vijaya Lakshmi and Vidya Lakshmi, the collection reframes gold coins from being a generic festive purchase to a story-driven, culturally immersive product experience – one that resonates across generations and belief systems.

This launch also aligns with Bhima Gold’s larger centenary narrative of “Together Purever,” which focuses on legacy, shared traditions, and evolving consumer meaning. The collection becomes an extension of that philosophy – reinforcing how heritage brands are reinterpreting tradition for a more aware and emotionally driven consumer.

Customers can pre-book their favourite jewellery by paying just 10% in advance & get their jewellery on Akshaya Tritiya at the lowest rate, which gives customers more flexibility and helps them plan their purchases with greater confidence, especially at a time when gold prices are high.

Akshaya Tritiya has traditionally been associated with intention, belief, and the aspiration for prosperity, extending beyond a purely transactional act of buying gold. The Ashtalakshmi Coin Collection has been conceptualised to reflect this deeper cultural and spiritual significance, with each coin designed to carry a distinct meaning and sense of purpose. The initiative also aligns with evolving consumer preferences, where there is a noticeable shift towards jewellery that offers emotional, cultural, and spiritual resonance in addition to intrinsic value.

With gold prices near record highs and consumer sentiment becoming more considered, Bhima’s Ashtalakshmi Coin Collection signals a broader shift in the category — from price-led promotions to meaning-led engagement, where design, storytelling, and cultural relevance drive both differentiation and demand.

As legacy brands navigate a new era of conscious consumption, Bhima Gold’s latest offering highlights how tradition can be reimagined as experience, making gold buying not just an act of investment, but an expression of identity and belief.

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