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The World Gold Council reported a low demand for gold in India in Q1, but UK dealers believe demand is expected to surge in the lead up to the celebrated Festival of Light – Diwali.

One leading gold dealer Daniel Fisher from said he’s already seen a 12% increase in sales of gold coins for Diwali and even had a request for a ruby encrusted gold elephant!

He’s also seen an increase in the number of silver enquiries as customers turn to silver as the more affordable alternative to the yellow metal.

Daniel Fisher said “Diwali is traditionally the beginning of the Indian wedding season, and typically we see a surge in gold as India imports in preparation for that season. This year, however, we’ve seen more customers than ever before buying silver for the Diwali season”

He continued “It’s considered very good luck in Indian culture to get married during the wedding season. It’s no surprise that we always see a spike during this period in demand for gold coins as presents and bars to use later for making into jewellery”.

Daniel Fisher

Physical Gold Ltd

Tower 42
5th floor

25 Old Broad Street

London EC2N 1HN

Tel 020 7060 9997


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