In the September quarter, the share of total consumption of gold spiked to an all-time high as the World Gold Council (WGC) said that the rising gold prices are spurring Indian investors to buy bars and coins, with record purchases worth $10 billion.

India remains the world’s second-largest gold consumer, and its investment demand in gold spiked 20% year on year in September quarter to 91.6 metric tonnes, or 67% in value terms to $10.2 billion.

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Local gold prices also surged 56% so far in 2025 after a 21% rise last year. The price of local gold prices hit a record 132,294 rupees per 10 grams earlier this month.

Investment demand accounted for 40% of total gold consumption in the first nine months of 2025, the highest on record, the WGC said.

Overall gold consumption, howe

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