Commodities
India's Q2 Gold Demand Falls 6% Amid Higher Customs Duty and Shifting Consumer Sentiment
India's gold demand fell by 6 percent year-over-year in Q2 2026 to 131.4 tonnes, according to the World Gold Council's latest report.
The country's jewellery consumption witnessed a sharp decline of 15 percent YoY to 75.1 tonnes from 88.8 tonnes in the same period last year.
This drop can be attributed to subdued seasonal demand, higher customs duty, and shifting consumer sentiment, as well as Prime Minister Narendra Modi's appeal in May for citizens to curb non-essential gold purchases to ease pressure on foreign exchange reserves.