India’s gold market is seeing a big transformation. Investment demand has increased, topping jewellery consumption for the first time, as high prices and global uncertainty push investors into safe-haven assets. While demand for bars, coins, and ETFs has surged sharply, jewellery volumes are under pressure due to high prices. With imports rising and recycling increasing, the market dynamics are rapidly altering. But recent price corrections and growing global variables raise a key question—will this pattern continue in the coming months?
Published on May 5, 2026
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