Gold’s Real Demand Engine Is India & Emerging Markets; Not the West.
Around 70% of global gold demand comes from emerging markets, dominated by India 🇮🇳 & China 🇨🇳
India 🇮🇳 alone contributes 20% driven by:
• Jewellery demand(cultural)
• Investment demand (inflation hedge, savings)
• Seasonal buying cycles (festivals like Diwali)
On the supply side:
• 74% comes from mining, globally diversified
• Low regional concentration → reduced supply shock risk
Gold is no longer a Western macro trade, it’s increasingly driven by Indian consumption patterns and Asian demand cycles.