{
  "id": 17936754,
  "title": "India keeps pace with China despite 40% gold plunge",
  "url": "https://urgent.news/2026/11/03/india-keeps-pace-with-china-despite-40-gold-plunge",
  "topic": "business",
  "section": "Business",
  "published": "2026-11-03T08:05:49.000Z",
  "source": {
    "name": "The Economic Times",
    "slug": "the-economic-times",
    "url": "https://economictimes.indiatimes.com/industry/cons-products/fashion-/-cosmetics-/-jewellery/india-sets-the-bar-next-to-china-in-gold-investments-despite-a-40-plunge/articleshow/135487929.cms"
  },
  "original_language": "en",
  "account": "India maintained its second-largest position globally for gold bars and coins demand, despite a 40% drop year-on-year, according to the World Gold Council's India Focus report. Bars and coins were the primary investment channel, with demand rising 9% sequentially to 55 tonnes in the September quarter. However, the high base from the previous year and easing investor buying due to rising gold prices contributed to the decline. A 9% increase in gold import duty in May further dampened demand. Despite the overall decline, India remained the world's second-largest market for bars and coins, accounting for 21% of global demand in the quarter. Investment demand grew 12% quarter-on-quarter to around 60 tonnes, though it moderated from previous quarters. Investment accounted for 42% of net gold demand in the quarter, down from 69% in March. Gold ETF demand surged to 5.3 tonnes, while digital gold purchases expanded 76% to 16.3 tonnes in the quarter.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}