As restrictions are being gradually lifted across the country, retail demand is bouncing back to pre-Covid levels in India. Gold is likely to see a sharp spike in demand in Q4 of 2021 supported by softer gold prices and return of positive trade sentiments, said the World Gold Council (WGC).
Somasundaram PR, Regional CEO, India, World Gold Council said, ”Gold is perceived as a strong hedge against inflation and decades of data supports this assumption. While we have not made any forecast for the rest of the year, barring any unexpected twist in the tale, we could see a sharp spike in demand in Q4 2021.”
According to the report, demand for gold in India for Q3 2021 was at 139.1 tonne up by 47% as compared to the overall Q3 demand of 94.6 tonne for 2020. Total net bullion imports in Q3 2021 were 255.6 tonne, an increase of 187% compared to 89 tonne in Q3 2020. Softer gold prices have also generated significant consumer interest ahead of seasonal demand.
The domestic trade indicates that this Q4 festive season could be on the best in several years, with strong imports of 255.6 tonnes and 187% increase over last year, which is much ahead of Q3 demand. Total jewellery demand in India for Q3 2021 increased by 58% at 96.2 tonnes as compared to Q3 2020 at 60.8 tonnes.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
Exclusive
Yoram Dvash: Industry unity, producer leadership and marketing investment key to natural diamond's future
The natural diamond industry is navigating a period of significant transition, but there are increasing signs that the foundations for a stronger and more positive future are being built, according to the World Federation of Diamond Bourses (WFDB)...
29 june 2026
AWDC: First fully traceable artisanal diamonds from DRC sold on the international market in Antwerp
In a historic milestone for the diamond industry, fully traceable, artisanal diamonds from the Democratic Republic of Congo have been sold on the international market for the very first time in Antwerp. Below, Ine Tassignon, AWDC spokesperson, provides...
22 june 2026
Natural diamonds most desired luxury jewellery, Gen Z spending double baby boomers, reveals De Beers report
Natural diamonds remain the most desired jewellery item among US consumers, with Millennials and Gen Z driving demand value and spending, according to De Beers Group’s The Diamond Report, which draws on the biannual Diamond Acquisition Study of 18,500...
15 june 2026
Edahn Golan: India’s lab-grown diamond exports surpass natural diamonds by volume, yet value gap widens
India’s diamond industry has reached a historic turning point. In March and April 2026, the volume of lab‑grown diamond exports overtook that of natural diamonds, with lab‑grown stones accounting for 51% and 50.4% of total export volume respectively...
01 june 2026
Dr M’zée Fula-Ngenge: Kimberley Process failing Africa
The Kimberley Process (KP) is failing Africa, and the world's definition of a “conflict diamond” is a moral and legal absurdity, according to the African Diamond Council (ADC) chairperson M’zée Fula-Ngenge. The following exclusive...
18 may 2026
