Page 36 - Bullion World Issue 11 Volume 05 November 2025

NEWS

India 2nd In Consumer Demand Of Gold Globally,

RBI Reserves Rise To 880 Tonnes

Return on gold has been comparable to equity market (Sensex)
over a 5, 10 and 15-year period; however, it far exceeds market
return over 1 year and 3 year period.

Domestic supply of gold is only a fraction of the total supply
of gold in India, with imports contributing around 86 per cent
of the total supply in 2024 (the World Gold Council estimate).
Gold imports increased around 31 per cent in FY24 and 27 per
cent in FY25.

However, higher prices have led to lower demand of gold in
2025. In Q3 2025, consumer demand of gold declined by
around 16 per cent year-on-year, driven by reduced jewellery
demand, said the report by Dr. Soumya Kanti Ghosh, Group
Chief Economic Advisor, SBI.
Source -
https://zeenews.india.com/bullion/india-2nd-in-consumer-demand-of-gold-globally-rbi-reserves-rise-to-880-
tonnes-2980198.html

India Needs Long-Term Gold Policy,

Says SBI Report Amid Global Gold Rush

SBI urges a national gold policy as India, second only to China
in gold demand, faces surging prices, high imports, and rising
investor interest in gold ETFs and SGB.

A State Bank of India (SBI) report has pitched for a
comprehensive national gold policy on the back of sharp spike
in gold prices. It notes India as one of the largest bullion markets
in the world, shaped by its deep-rooted cultural affinity for the
metal and strong investment demand.

According to the SBI Economic Research Department’s report
titled “Coming Of (A Turbulent) Age: The Great Global Gold
Rush", the surge in gold prices has been fuelled by geopolitical
tensions, global economic uncertainty, and a weakening US
dollar, PTI reported.

Source -
https://www.news18.com/business/savings-and-investments/india-needs-long-term-gold-policy-says-sbi-report-
amid-global-gold-rush-ws-l-9684403.html

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