[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-seo-563491-105":3,"detail-sidebar-cat-1-en-105":85,"doc-detail-563491-en":131},{"code":4,"msg":5,"data":6},0,"ok",{"site_id":7,"language":8,"slug":9,"title":10,"keywords":11,"description":12,"schema_data":13,"social_meta":78,"head_meta":80,"extra_data":82,"updated_unix":84},105,"en","india-gold-market-update-seasonal-strength-highlights-prices-demand-etfs-and-outlook","India Gold Market Update - Seasonal Strength Highlights - Prices, Demand, ETFs and Outlook","","India gold market update summarizing October price dynamics, domestic discount shifts, and demand patterns. International gold rallied sharply in October, easing from the peak but ending higher, with momentum carrying into November. Domestic prices largely tracked the trend yet turned to a discount after festive demand. Diwali and Dhanteras saw strong investment-led buying in bars and coins, while post-Diwali activity softened. Gold ETFs delivered persistent strong inflows, and the wedding season outlook (November–March) is expected to support jewellery demand.",{"@graph":14,"@context":77},[15,34,56],{"@type":16,"itemListElement":17},"BreadcrumbList",[18,23,27,31],{"item":19,"name":20,"@type":21,"position":22},"https://docshare.wps.com","Home","ListItem",1,{"item":24,"name":25,"@type":21,"position":26},"https://docshare.wps.com/template/","Template",2,{"item":28,"name":29,"@type":21,"position":30},"https://docshare.wps.com/template/presentations/","Presentations",3,{"item":32,"name":10,"@type":21,"position":33},"https://docshare.wps.com/template/india-gold-market-update-seasonal-strength-highlights-prices-demand-etfs-and-outlook/563491/",4,{"url":32,"name":10,"@type":35,"image":36,"author":41,"headline":10,"publisher":44,"fileFormat":47,"inLanguage":8,"description":12,"dateModified":48,"datePublished":49,"encodingFormat":47,"isAccessibleForFree":50,"interactionStatistic":51},"DigitalDocument",{"url":37,"@type":38,"width":39,"height":40},"https://docshare.wps.com/thumbnails/india-gold-market-update-seasonal-strength-highlights-prices-demand-etfs-and-outlook/563491.png","ImageObject",442,249,{"name":42,"@type":43},"Adam","Person",{"url":19,"name":45,"@type":46},"DocShare","Organization","application/pdf","2026-10-26","2026-10-12",true,{"@type":52,"interactionType":53,"userInteractionCount":55},"InteractionCounter",{"@type":54},"ViewAction",7,{"@type":57,"mainEntity":58},"FAQPage",[59,65,69,73],{"name":60,"@type":61,"acceptedAnswer":62},"What were the main highlights of gold performance during the festive period?","Question",{"text":63,"@type":64},"Gold prices softened from record highs yet stayed supported. Demand strengthened during the festive period, led by investment buying, and gold ETFs maintained strong momentum with record inflows in October.","Answer",{"name":66,"@type":61,"acceptedAnswer":67},"How did international gold prices behave in October and into November?",{"text":68,"@type":64},"International gold rallied sharply in October, reaching the 50th record high of the year, then eased from the peak by about 7% but still finished October higher. Momentum continued into November with prices up nearly 3% month-to-date as of 19 November.",{"name":70,"@type":61,"acceptedAnswer":71},"What caused domestic gold prices to shift into a discount after the festive peak?",{"text":72,"@type":64},"Domestic prices tracked the international trend but delivered stronger returns. After the peak festive demand period, domestic prices moved into a discount, with the month-to-date discount averaging about US$18/oz, alongside the 3.3% depreciation of the Indian rupee.",{"name":74,"@type":61,"acceptedAnswer":75},"What are the expectations for jewellery demand over the coming months?",{"text":76,"@type":64},"With the busy wedding season from November to March and a high number of anticipated weddings, jewellery demand is expected to be supported. Investment interest is also expected to persist amid broadly bullish sentiment for gold.","https://schema.org",{"og:url":32,"og:type":79,"og:title":10,"og:site_name":45,"og:description":12},"article",{"robots":81,"canonical":32},"index,follow",{"doc_id":83,"site_id":7},563491,1792220480,{"code":4,"msg":86,"data":87},"success",[88,92,97,102,107,112,117,122,127],{"id":89,"doc_module":22,"doc_module_name":25,"category_name":29,"show_sort_weight":90,"slug":91},11,90,"presentations",{"id":93,"doc_module":22,"doc_module_name":25,"category_name":94,"show_sort_weight":95,"slug":96},12,"Resumes",80,"resumes",{"id":98,"doc_module":22,"doc_module_name":25,"category_name":99,"show_sort_weight":100,"slug":101},14,"Invoices",70,"invoices",{"id":103,"doc_module":22,"doc_module_name":25,"category_name":104,"show_sort_weight":105,"slug":106},15,"Posters",60,"posters",{"id":108,"doc_module":22,"doc_module_name":25,"category_name":109,"show_sort_weight":110,"slug":111},16,"Social Media",50,"social-media",{"id":113,"doc_module":22,"doc_module_name":25,"category_name":114,"show_sort_weight":115,"slug":116},17,"Forms",40,"forms",{"id":118,"doc_module":22,"doc_module_name":25,"category_name":119,"show_sort_weight":120,"slug":121},18,"Letters",30,"letters",{"id":123,"doc_module":22,"doc_module_name":25,"category_name":124,"show_sort_weight":125,"slug":126},21,"Paper Templates",5,"papers-templates",{"id":128,"doc_module":22,"doc_module_name":25,"category_name":129,"show_sort_weight":4,"slug":130},158,"General","general-158",{"code":4,"msg":86,"data":132},{"doc_id":83,"user_id":133,"nickname":42,"user_avatar":134,"doc_module":22,"category_id":89,"category_name":29,"doc_title":10,"doc_description":12,"doc_content":135,"file_id":136,"file_url":137,"file_type":138,"file_size":139,"view_count":55,"is_deleted":4,"is_public":22,"is_downloadable":22,"audit_status":22,"page_count":125,"language":140,"language_code":8,"site_id":7,"html_lang":8,"table_of_contents":141,"faqs":142,"seo_title":143,"seo_description":12,"update_tm":144,"read_time":26},1374404737137,"https://ap-avatar.wpscdn.com/davatar_155a257f0dc6eb9ab79c44ca47cae57d","India gold market update  \nSeasonal strength  \nHighlights  \n• Gold prices soften from record highs yet remain supported  \n• Domestic prices slide back into discount  \n• Gold demand, led by investment buying, strengthened during the festive period, but softened thereafter  \n• Gold ETFs continue strong momentum in October with record inflows and new investors  \n• Gold imports soar in October, despite the price rally  \nLooking ahead  \n• The busy wedding season over the coming months (November–March), with a high number of anticipated weddings, is expected to support jewellery demand.  \n• Investment interest in gold is likely to persist amid broadly bullish sentiment around gold.  \nPrices retreat from peak, but maintain firm trend  \nInternational gold price1 recorded a sharp rally in October, hitting its 50th record high of the year during the month. Although price eased by about 7% from the peak, it still ended October 5% higher at US$4,011 . 5/oz. The momentum carried into November, with price up nearly 3% m-t-d as of 19 November. This sustained performance has lifted gold’s yt-d gains to 58% .  \nChart 1: Prices slip from recent peak yet continue to hold up  \nEnd of month LBMA Price PM and MCX domestic spot price levels and m/m changes*  \nLBMA PM: % m/m  MCX spot price: % m/m  Gold spot price: INR/10g  \n*Based on the LBMA Gold Price PM in USD and MCX spot gold price as of 19 November 2025.  \nSource: Bloomberg, World Gold Council  \n1. LBMA Gold Price PM  \nOur Gold Return Attribution Model (GRAM) suggests that recent movements in international gold prices have been driven by geopolitical risk, higher implied volatility, a stronger US dollar, as well as momentum and evolving interest-rate expectations.  \nDomestic gold prices have largely tracked the international trend but have delivered even stronger returns, recording 63% y-t-d growth. The higher domestic gains are attributed to the 3.3% depreciation of the Indian rupee. Domestic gold prices, which had mostly traded at par with, or at a premium to, the international price over the past two months, shifted to a discount following the peak festive demand period (Chart 2), with the m-t-d2 discount averaging US$18/oz.  \nChart 2: Domestic gold prices slide to discount  \nNCDEX gold premium/discount relative to the international price*  \nUS$/oz 40  \n-80  \nJul-24 Sep-24 Nov-24 Jan-25 Mar-25 May-25 Jul-25 Sep-25 Nov-25  \n*As of 19 November 2025.  \nSource: NCDEX, World Gold Council  \nFestive demand shines, tapers after  \nFestive demand around Diwali and Dhanteras3 – India’s peak gold-buying occasions – was reportedly strong despite record-high prices, according to feedback from industry stakeholders. Market participants consistently highlighted that the strength was driven primarily by investment-oriented buying, particularly bars and coins, with some noting volume nearly doubling from a year ago. E-commerce platforms also saw solid sales,4 and digital gold purchases rose too. Unified Payments Interface (UPI) data shows digital gold purchases increasing 62% m/m to INR22bn (US$259mn) in October.5 In tonnage terms, the volume rose 45% m/m to 1.8t.  \nJewellery sales also held up well during the festive period, with retailers reporting healthy sales across both single-store and large multi-store formats, the latter benefitting from brand trust and promotional initiatives. Although jewellery volumes were softer due to elevated prices, the overall value of sales remained healthy, reportedly up by around a quarter y/y for many, reflecting resilient festive buying sentiment.  \nPost-Diwali, demand has reportedly softened. Industry feedback suggests market activity in November has been subdued, despite the onset of the wedding season. Jewellery buying is largely wedding-driven, while investment demand persists. Supply of old gold into the market has reportedly moderated. Trade participants attribute this to consumers having exhausted surplus gold for immediate needs and now choosing to hold onto jew","cbCaitOuxnZKhyx1","https://ap.wps.com/l/cbCaitOuxnZKhyx1","pdf",198431,"English","# Seasonal strength\n## Highlights\n## Looking ahead\n# Prices retreat from peak, but maintain firm trend\n## International gold price movement\n## Domestic gold premium/discount\n# Festive demand shines, tapers after\n## Investment-led buying during Diwali and Dhanteras\n## Jewellery sales during the festive period\n## Post-Diwali softening and supply moderation\n# ETFs: persistent strong inflows\n## October net and gross flows\n## Continued inflows into November","[{\"question\":\"What were the main highlights of gold performance during the festive period?\",\"answer\":\"Gold prices softened from record highs yet stayed supported. Demand strengthened during the festive period, led by investment buying, and gold ETFs maintained strong momentum with record inflows in October.\"},{\"question\":\"How did international gold prices behave in October and into November?\",\"answer\":\"International gold rallied sharply in October, reaching the 50th record high of the year, then eased from the peak by about 7% but still finished October higher. Momentum continued into November with prices up nearly 3% month-to-date as of 19 November.\"},{\"question\":\"What caused domestic gold prices to shift into a discount after the festive peak?\",\"answer\":\"Domestic prices tracked the international trend but delivered stronger returns. After the peak festive demand period, domestic prices moved into a discount, with the month-to-date discount averaging about US$18/oz, alongside the 3.3% depreciation of the Indian rupee.\"},{\"question\":\"What are the expectations for jewellery demand over the coming months?\",\"answer\":\"With the busy wedding season from November to March and a high number of anticipated weddings, jewellery demand is expected to be supported. Investment interest is also expected to persist amid broadly bullish sentiment for gold.\"}]","India Gold Market Update - Seasonal Strength Highlights - Prices, Demand, ETFs and Outlook | PDF",1791836018]