Gold investments in India saw a significant surge in 2024 with a rise of 60 per cent in value terms to reach $18 billion (approximately Rs 1.5 lakh crore) compared to 2023, according to a report on Wednesday.
The World Gold Council (WGC) report further added that gold investment demand stood at 239 tonnes, marking its highest level since 2013. This was a 29 per cent increase from the 185 tonnes recorded in 2023.
The yellow metal investment remained strong in the October-December quarter, with demand reaching 76 tonnes, nearly matching the previous quarter’s performance, the report said.
At 239 tonnes, the country's gold investment accounted for 20 per cent of the global demand in this category, which stood at 1,180 tonnes in 2024.
The worldwide demand also grew by 25 per cent compared to 945.5 tonnes in 2023.
According to the WGC report, the primary reason behind the surge was the steady rise in gold prices throughout the year.
Following a reduction in import duty in July, prices quickly began to climb again.
A correction in November attracted investors looking for an opportunity to buy at lower prices.
Additionally, the festive season of Dhanteras and Diwali in October and November played a key role in boosting gold purchases.
The report further said that major metropolitan cities saw increased buying due to e-commerce platforms offering rapid delivery of small gold investment bars and coins, sometimes within 10-15 minutes.
Another factor that worked in favour of gold was the weaker performance of other assets. Domestic stock markets, which gave average returns in the first half of the year, ended 2024 with a notable decline after hitting record highs in the third quarter.
The demand for gold is likely to expand to include gold exchange-traded funds (ETFs) and mutual funds, the report said.
After hitting a four-year low of 3,080 tonnes in April, global gold ETF holdings gradually recovered throughout the rest of the year, apart from a slight decline in November.
The report attributed this increase to growing geopolitical uncertainties, changing expectations about interest rates, and gold’s best annual price performance since 2010.
CWG 2026: Preeti, Jaismine, Sakshi, Sachin win as India rule boxing ring with seven gold
Indian boxing scripted history at the Commonwealth Games 2026 in Glasgow on Saturday by bagging seven gold medals — the highest-ever gold haul for the country in the competition.
Five NE states record below-normal monsoon rainfall in June-July despite widespread floods
Even as several Northeastern states were battered by heavy rains, floods and landslides during July, five of the region's eight states recorded below-normal monsoon rainfall so far due to weak rain-bearing systems over the Bay of Bengal, the absence of active monsoon troughs and the influence of El Nino, India Meteorological Department (IMD) officials said on Saturday.
Blood donation movement witnessing a renaissance in Tripura: CM
Chief Minister Prof. Dr. Manik Saha today said that there is currently a renaissance in the blood donation movement in the state. Along with creating a sense of spirituality through blood donation, a sweet bond is developed between the blood donor and the recipient.
Residents allege irregularities in Dharmanagar–Kailashahar road repair work, seek official inquiry
Allegations of irregularities have surfaced in the ongoing maintenance work on the Dharmanagar–Kailashahar road, with local residents claiming that the project is not being executed in accordance with the approved work order. They have urged the authorities to conduct a detailed investigation into the matter.
Sports Minister inspects construction of youth hostel in Kailashahar
Tripura Sports and Youth Affairs Minister Tinku Roy on Saturday inspected the ongoing construction of a 200-bed Youth Hostel at Ward No. 14 of the Kailashahar Municipal Council in Unakoti district. Senior officials of the concerned department accompanied the minister during the visit.
Infant found dead in well in North district
A pall of grief and shock has descended on North Gopalpur village in North Tripura district after the body of a 12-day-old baby girl was recovered from a well early on Saturday morning.
Ahmedabad to officially receive Commonwealth Games Flag, Host Baton at Glasgow closing ceremony
Ahmedabad's preparations to host the centenary edition of the Commonwealth Games will formally begin on Sunday when the city receives the Commonwealth Games flag and the Host Baton during the closing ceremony of the 2026 Commonwealth Games in Glasgow.
AGMC to be top medical, research centre in NE: Tripura CM
Tripura Chief Minister Manik Saha on Saturday said the state government is working relentlessly to transform the Agartala Government Medical College (AGMC) and Govind Ballabh Pant Hospital into one of the best medical education, research and super-speciality healthcare institutions in Northeast India, while strengthening the state’s overall healthcare ecosystem.