The consumer demand and consumption of gold have remained relatively stable over the years (except 2020) even though prices have steadily risen, signifying the role gold plays in Indian society and culture. The middle class continues to be the primary consumer of gold in India, with the upper class having a share less than expected.

Regional consumption also differs with the south having the biggest share due to higher per capita incomes and an affinity for plain gold jewellery, while the economically underdeveloped east has the least.

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