India's Gold Demand Drops 6% Amid High Prices

The World Gold Council's (WGC) Q2 2026 Gold Demand Trends report shows that gold demand in India declined by 6% to 139.7 tonnes, compared to the same period last year.

The main reason for this decline was a 15% fall in jewellery demand, but investment demand remained steady, with a 9% increase in demand for bars and coins and a 49% jump in gold exchange-traded funds (ETFs).

The average quarterly gold price rose to $4,506.3 an ounce in Q2 2026, up from $3,280.4 in the same quarter last year.

Sachin Jain, regional CEO of India for the WGC, noted that despite elevated prices, consumers continue to prioritize gold and that demand may even rise during the festive and wedding season in the second half of the year.