Commodities
Gold Demand Falls, But Prices Drive Record Spending in India
India's gold demand fell to 131.4 tonnes in the April-June quarter of 2026, down 6% from last year. However, consumers ended up spending an additional Rs 65,600 crore on gold due to surging prices.
The total value of gold purchases jumped 50% from Rs 1.33 lakh crore to Rs 1.98 lakh crore during the same period.
According to Sachin Jain, Regional CEO, India of World Gold Council, consumers are adapting their purchasing decisions to balance affordability with long-term value.
The report revealed that consumers are choosing lighter-weight and lower-carat jewelry, while increasingly leveraging exchange programmes to optimize their purchases.