Key Takeaways
- India’s gold investment hit a record $10 billion in Q3 2024
- Investment share of total gold consumption reached all-time high
- Global gold demand peaked at 1,313 tonnes, with 524 tonnes from investments
India witnessed unprecedented gold investment activity in the September quarter, with investors pouring nearly $10 billion into gold bars, coins, and ETFs. According to the World Gold Council (WGC), this surge pushed investment’s share of total gold consumption to an all-time high, marking a significant shift in market dynamics.
Gold Becomes Mainstream Investment
Sachin Jain, CEO of WGC India, confirmed that gold has evolved into a mainstream asset class as investors increasingly diversify their portfolios. “Even people with little prior exposure are adding gold to their holdings. We believe investors’ interest in gold will continue and grow in the coming quarters,” Jain stated.
The festive and wedding seasons helped revive market sentiment after a slow start to the year, when high prices had dampened jewellery demand. Despite this, India recorded exceptional investment activity, indicating a clear transition from ornamental to investment-focused gold buying.
Global Gold Demand Hits Record High
Globally, gold experienced a historic quarter with total demand reaching 1,313 tonnes—the highest ever recorded. Investment demand accounted for 524 tonnes, underscoring gold’s role as a safe-haven asset during economic uncertainty and market volatility.
In India specifically, investment demand reached 91.6 tonnes, representing a 74.5% increase in value to approximately Rs 88,970 crore. This growth was driven primarily by purchases of bullion, bars, coins, and an expanding share of .
Market Transformation Underway
Jain noted that while jewellery consumption has declined globally due to elevated prices, investors’ confidence in gold’s long-term value is fundamentally reshaping the market. “This quarter has clearly marked a turning point — gold is no longer seen just as jewellery but as a vital part of wealth preservation,” he emphasized.
