India's Gold Demand Drops 29% in Q3 to 162.5 Tonnes

India's gold demand decreased by 29% year-on-year to 162.5 tonnes in the July-September quarter due to higher import duty and prices.

Total jewellery demand fell 20% to 99.9 tonnes, though its value increased by 16% to ₹1,48,700 crore.

The World Gold Council projects full-year demand between 625-675 tonnes, with net gold imports down 46% in the quarter.