New Delhi, March 25 -- Global gold jewellery consumption declined sharply in the first half of FY2026 due to elevated prices, while investment demand for gold witnessed a strong surge amid economic uncertainty, according to a joint report by ICRA and Assocham.

The report stated that global gold jewellery consumption, in volume terms, declined by 15 per cent in FY2025 and further by 17 per cent year-on-year in H1 FY2026, primarily due to high gold prices.

However, the trend in the gold market has shifted significantly towards investment-led demand. Demand for gold bars, coins and exchange-traded funds (ETFs) surged by 74 per cent in FY2025 and further by 60 per cent in H1 FY2026 on a year-on-year basis.

It stated, "Global gold jewellery...