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2025-10-19 17:14:04
India's Diwali festival sees a shift in gold consumption, with soaring gold prices fueling a surge in investment products. India celebrated the first day of the five-day Diwali festival on Saturday, marking the traditional purchase of gold products for good luck. However, due to the sharp rise in gold prices, gold jewelry sales declined significantly during this year's festival, with consumers instead opting for investment products such as coins and bars. The head of the Indian Bullion and Jewellery Association noted that record-high prices led to a nearly 30% drop in gold jewelry demand compared to the same period last year, while coin and bar sales remained strong. The chairman of the All India Jewellery Domestic Council revealed that overall gold sales on the first day of Diwali this year decreased by 10-15% year-on-year, but the sharp rise in gold prices led to a significant increase in total sales. Data shows that the gold price in India reached 12,700.8 Indian rupees (approximately 1,029 yuan) per gram on Friday, an increase of over 60% compared to last year's Diwali season.
