Chennai: The demand for gold jewelry in India grew 93% to six-year highs of 611 tons in 2021 out of 316 tons in 2020.
As an increase in the number of marriages, higher savings and pent-up demands pushed the jewelry market record, many retailers reported sales volume In the previous year.
In terms of value, the jewelry request in 2021 was at Rs 2.6 Lakh Crore, up 96% from Rs 1.3 lakh Crore in 2020.
The overall demand for gold increased to 797 tons in 2021, compared with 446.4 tons By 2020, according to the data from the World Gold Council Board.
“India’s gold demand recovered by 79% to 797 tons in 2021, especially the results of an extraordinary 343 tons of Q4 (October-December) results that exceeded our most optimistic expectations articulated in Q3 and it turned out to be the best quarter in our data series Recorded, “Somasundaram PR, Regional CEO, India, World Gold Council, said.
The overall investment request for Q4 2021 rose 61% at 79 tons, compared to Q4 2020 (49 tons).
In terms of value, the demand for gold investment is Rs 34,130 Crore, an increase of 57% from RS 21,730 crore at Q4 2020.
On the other hand, digital gold savings also rise impressively because of their ease and safety, a pointer to change the behavior of purchases in the investment gold.