India's gold demand down 29% in July-September at 162.5 tonnes: World Gold Council

India's gold demand decreased by 29% in the July-September quarter to 162.5 tonnes, according to the World Gold Council. This decline is largely attributed to a 20% drop in jewellery demand, which fell to 99.9 tonnes from 125 tonnes in the same period last year. Despite this, jewellery demand in value terms increased by 16% to ₹1,48,700 crores. This shift in gold demand could have implications for the Indian economy and trade, particularly in the jewellery sector.

Why it matters

India's gold demand has decreased significantly, which could lead to lower prices. This decrease in demand may also affect the global gold market, leading to a decrease in investor sentiment.

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