Gold imports hit 10-year high as jewellery demand doubles

Celebrations picked up in full swing in the three months through December, more than doubling full-year imports to 925 tonnes

Gold imports in the country accelerated to the highest level in a decade last year as jewellery sales almost doubled, with the demand outlook remaining bright, according to the World Gold Council (WGC).

Demand revived after two bleak years as Indians once again flocked to jewellery 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 tonnes, the highest since 2011, according to the council data.

“Starting 2022, you will see demand setting up a new normal toward 800-850 tons,” compared