Spotlight on Kavita Chacko, Research Head, India, World Gold Council

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Global Thought Leader Spotlight

Kavita Chacko, Research Head, India, World Gold Council

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In my role as the Research Head, India at World Gold Council I lead research and market intelligence on the Indian gold market. My work focuses on analysing the drivers of gold demand and supply, investment trends, consumer behaviour, policy developments, and the broader macroeconomic factors shaping the role of gold in the financial system. It involves engaging with institutional investors, policymakers, market participants and all the various stakeholders to provide data-driven insights on gold markets.

Through research publications, industry engagement, and thought leadership, I help stakeholders better understand the evolving investment case for gold and the opportunities and challenges shaping the market.

Structural developments reshaping the gold market
Several structural developments are reshaping the gold market and creating both opportunities and challenges for long-term investors.

  • Global central banks have emerged as a major source of demand. Sustained purchases by central banks reflect growing emphasis on reserve diversification in an increasingly fragmented geopolitical environment. This trend has become an important source of support for the gold market.

  • The global macroeconomic backdrop continues to be characterised by elevated debt levels, fiscal pressures, and frequent market volatility. While the precise timing and magnitude of these risks remain uncertain, they have reinforced investor interest in assets that can enhance portfolio resilience.

  • Investment demand for gold is becoming more diverse. Institutional investors, family offices, retail investors, and UHNW/HNW individuals are increasingly seeing gold not simply as a crisis hedge, but as a strategic portfolio asset that can help improve diversification and risk-adjusted returns.

  • Supply growth is relatively constrained. New mine supply typically takes years to develop, limiting the market's ability to respond quickly to changes in demand.

Opportunities for sophisticated investors
For institutional and sophisticated investors, the investment environment is becoming increasingly complex. Shifting economic relationships, geopolitical uncertainty and financial vulnerabilities are increasing the importance of portfolio resilience alongside return generation.

As a result, investors are looking beyond traditional portfolio construction approaches and placing greater emphasis on assets that offer diversification, liquidity and resilience during periods of stress.

In an increasingly uncertain world, portfolio resilience is becoming a core investment objective, and gold remains a relevant tool for achieving it.

Kavita will be presenting at Global Investment Institute’s upcoming Family Office Investment Forum on Tuesday, 1 September 2026 in Melbourne CBD, Victoria. To register your interest in attending, click here or for more information email zlatan@globalii.com.au.

 
 
 
 

Kavita Chacko, Research Head, India, World Gold Council

Kavita joined the World Gold Council in 2023, where she works in the Research team as the Research Head for India.

She has over two decades of experience in financial services. She previously held positions as an Economist at Nuvama (formerly Edelweiss) Wealth Management, CARE Ratings, Angel One, and, the National Commodities and Derivatives Exchange, overseeing macro research, sub-sovereign ratings, and industry analysis.

Kavita holds a master’s degree in economics and a postgraduate diploma in Financial Management.

 
 
 
 

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