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India’s Gold Demand to Slow in 2025 as Soaring Prices Weigh on Jewellery Purchases, WGC Reports

Ease in 2025 as Record Prices Slow Jewellery Purchases, While Investment Interest Grows

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India’s gold consumption is expected to moderate in 2025, following a record high in 2024, as surging prices dampen jewellery demand, although investment demand remains strong, according to the World Gold Council (WGC). The demand is projected to range between 700 and 800 metric tonnes, a drop from last year’s 802.8 tonnes—the highest level since 2015.

As gold prices rise, jewellery purchases tend to decrease, with consumers adjusting their budgets in response to the higher costs. Domestic gold prices recently hit a record high of Rs 84,399 ($968.62) per 10 grams, reflecting a 10% increase in 2025 after a 21% rise in 2024.

However, the surge in gold prices has bolstered investment demand, particularly in gold ETFs, digital gold, and coins and bars. Investment demand rose 29% in 2024, reaching an 11-year high of 239.4 tonnes, and is expected to continue growing in 2025.

Jewellery demand, which makes up nearly 70% of India’s total gold consumption, will likely be impacted by higher prices. Despite this, strong interest in gold as an investment is expected to persist.

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Limelight Lab Grown Diamonds Crosses 100 Stores Milestone This Dussehra: Targets 200 In 2027

The milestone marks a significant step in the brand’s nationwide expansion, strengthening its presence in India’s rapidly evolving laboratory grown diamond (LGD) jewellery market

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Limelight Diamonds, India’s leading LGD jewellery brand, has crossed the milestone of 100 stores across 45 cities in India this Dussehra, marking a significant chapter in its growth journey and reflecting on its ambition to make the brilliance of lab-grown diamonds more accessible to Indian consumers.

The announcement coincides with Dussehra, a festival that symbolises positivity, progress and new beginnings. For Limelight, the occasion marks both the celebration of a significant achievement and the beginning of an ambitious new chapter. It reflects the brand’s commitment to building a new jewellery category in India, bringing together design, innovation, transparency and a contemporary retail experience.

With stores spanning major metros as well as emerging Tier 2 and Tier 3 markets, Limelight’s journey reflects the changing preferences of India’s modern jewellery buyers and increasing interest towards LGD jewellery for various occasions.

Commenting on the achievement, Pooja Madhavan, Founder & Managing Director, said:

“Crossing 100 stores across 45 cities is an incredibly proud moment for all of us at Limelight. This milestone is a reflection of the potential of the LGD sector in India and the opportunity to redefine how India experiences diamond jewellery. What excites me most is that our journey has just begun. Having established a strong foundation in India, we are now looking at opportunities beyond our borders. Our ambition is to build Limelight into a globally recognised jewellery brand and take India to the world.”

The brand is already looking ahead to its next phase of growth, with an ambitious target of reaching 200 stores in 2027. This expansion reflects the brand’s confidence in the growing acceptance of LGD jewellery in India and its commitment to transforming the category into accessible luxury and offering informed diamond choices to an ever-growing community of consumers.

Speaking about the expansion, Karamjyot Chawla, Director – Retail Expansion said:

“Crossing the 100-store milestone is a significant achievement in Limelight’s retail expansion journey. Our focus is not merely on increasing the number of stores, but on establishing Limelight as a trusted diamond jewellery destination in every market we enter. With a growing nationwide footprint and a strong expansion pipeline, we are now preparing for the next phase of growth, including opportunities in international markets.”

With continued retail expansion in India and international expansion on the horizon, Limelight Lab Grown Diamonds is moving forward with a clear ambition: to be the largest LGD retailer that champions the ‘Make in India’ vision for LGDs and establishes the category as a mainstream part of the jewellery culture not just in India but globally.

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