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 f

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.