Page 30 - Bullion World Issue 10 Volume 05 October 2025

Bullion World | Volume 5 | Issue 10 | October 2025 IGC 2025: Where The World Meets India, Day 3 Highlights
Discussion:

Where is the demand for gold coming from?

Mr Srivatsava Ganapathy, Director & CEO, Eventell Global Advisory Pvt Ltd,
Mr Philip Newman, Managing Director, Metals Focus, Mr Shivanshu Mehta, VP–Bullion, MCX,
Mr Sachin Kothari, Director, Augmont-Gold For All

The panel discussion on “Where is the Demand for Gold Coming From?” was
moderated by Mr Srivatsava Ganapathy, Director & CEO of Eventell Global Advisory
Pvt Ltd, during the India Gold Conference 2025. Setting the stage for the session, Mr
Srivatsava Ganapathy framed the conversation around the ongoing surge in gold
prices and the global shifts influencing both institutional and retail demand. He
noted that despite price volatility and fluctuating macroeconomic indicators, gold
continues to hold its unique position as a hedge against uncertainty, inflation, and
currency depreciation.

Drawing attention to India’s dual role as both the largest consumer and an emerging
financial hub for gold, he emphasized the importance of distinguishing between
traditional consumption and modern investment-driven demand. Mr Srivatsava
encouraged the panellists to reflect on key questions-whether the recent drivers
of demand were cyclical or structural, how digital and exchange-based gold
investments are reshaping consumer behaviour, and what India could learn from
global demand trends. He also highlighted that sustainability of demand in a high-
price environment requires adaptability in product offerings and investor education.

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