Indian Gold Demand Tumbles Amid Volatile Prices

India's gold demand saw a significant decline in the June quarter, falling by 6% to 131 tons, according to a report by the World Gold Council. The main reason behind this drop was the volatile prices of gold, which led consumers to postpone their jewelry purchases.

The value of gold demand, however, saw a substantial increase of 50%, reaching ₹1.98 lakh crore as compared to ₹1.32 lakh crore during the same period last year.

Notably, the demand for jewelry plummeted by 15% to 75 tons, while its value surged by 34%. On the other hand, the demand for bars and coins rose by 9% to 50 ton with their value reaching ₹75,700 crore.