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Gold Imports by India Hit Decade-High as Jewelry Demand Doubles

  • Inbound shipments jumped to about 925 tons last year: WGC
  • Demand revival to set new normal above pre-pandemic levels

Gold imports by India accelerated to the highest level in a decade last year as jewelry sales almost doubled, with the demand outlook remaining bright, according to the World Gold Council.

Demand revived after two bleak years as Indians once again flocked to jewelry stores in 2021 as fears of the pandemic eased. Weddings and celebrations picked up in full swing in the three months through December, more than doubling full-year imports to about 925 tons, the highest since 2011, according to the council data.