India's gold demand to fall in 2026 as jewellery slump offsets investment rise
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India's gold demand is projected to decline in 2026, following an 11% drop last year, as rising prices hinder jewellery sales despite increased investment buying, according to the World Gold Council (WGC). Demand is expected to range between 600 and 700 metric tons, down from 710.9 tons in 2025. While jewellery demand fell 24% to 430.5 metric tons, investment demand rose 17% to 280.4 tons, making up 40% of total consumption. High gold prices have historically led to increased scrap supplies, but these fell 19% in 2025 as expectations for price gains continued.
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