Global gold demand increased by 3% in the second quarter of 2025, driven primarily by a surge in investment, according to the World Gold Council (WGC). Despite record-high gold prices, demand remained robust, supported by geopolitical instability and weakening confidence in the U.S. dollar. However, gold buying by central banks and jewelers slowed during the quarter as the rapid price rally tempered their purchasing activity. India's gold demand is expected to reach a five-year low in 2025, estimated between 600 and 700 metric tons, down from 802.8 metric tons in 2024, due to the impact of record prices on jewelry sales. Overall, the WGC projects that India's consumption, the world's second-largest market, will be the lowest since 2020.