World Gold Council (WGC) said on Tuesday high gold prices have suppressed
jewelry sales and investment, and it expects India’s 2026 gold demand to fall to
about 650 tonnes, the lowest since 2020. Sachin Jain, head of WGC India, said
year-to-date gold jewelry demand has declined and will drag down annual demand.
India’s Q3 gold demand fell 29% YoY to 162.5 tonnes; jewelry purchases were down
20% and investment demand down 40%. Seasonal buying around Diwali and the
wedding season could support a fourth-quarter rebound.