Gold Demand Slips, Indian Spending Hits Record High

India's demand for gold has declined by 6% in recent years, despite spending on the precious metal hitting a record high. According to the World Gold Council (WGC), this trend is a reflection of changing consumer behavior and preferences.

The WGC noted that while the value of gold purchased by Indian consumers increased, the volume of gold bought decreased. This suggests that Indians are opting for smaller quantities of higher-value gold ornaments or investing in gold-backed securities.

Gold prices in India have been volatile over the past year, influenced by global events such as the US-China trade war and fluctuations in the value of the dollar. However, the WGC report indicates that demand is stabilizing, with Indian consumers becoming more discerning about their purchases.