Gold and silver consumer demand should rise in 2025: GJC

The All India Gem and Jewellery Domestic Council expects to see Indian consumer demand for gold and silver jewellery increase in double digits in 2025, despite high prices. 

“2024 was an excellent year for the jewellery industry, with customers showing a strong preference for affordable and sustainable options,” said the All India Gem and Jewellery Domestic Council’s vice chairman Rajesh Rokde, ET Bureau reported. “We saw a significant increase in demand for silver jewellery, particularly among the younger generation. In terms of market trends, gold prices remained volatile, but customer demand remained strong.”

One factor which drove up silver prices was the industrial demand for and investor interest in the precious metal. The natural diamond market also saw its share of challenges in 2024 but lab grown diamonds and sustainable options proved popular. 

“As we look ahead to 2025, I expect customer demand to remain strong, driven by increasing awareness about sustainability and responsible sourcing practices,” said Rokde. “The growth in gold sales will be 12% to 15% growth and a 15% to 18% growth in silver sales.”

The high number of auspicious dates for weddings in 2025 is also expected to fuel demand for gold jewellery. Young consumers are also becoming attracted to the precious metal for its dual role as an investment and an accessory, according to Rokde.