Volatile gold prices have weakened Indian demand this week. Domestic gold was
around INR 150,900 per 10g on Friday; prices peaked at INR 164,773/10g last
month, a six‑month high. Dealers in Chennai said buyers are sidelined, waiting
for further declines, and a Mumbai private‑bank dealer said jewelers are
cautious ahead of the festival season and reluctant to build inventory.