{
  "id": 17941669,
  "title": "Gold demand down 30% in September quarter as high prices hurt jewellery sales",
  "url": "https://urgent.news/2026/11/03/gold-demand-down-30-in-september-quarter-as-high-prices-hurt",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-03T09:01:24.000Z",
  "source": {
    "name": "Hindu BusinessLine",
    "slug": "hindu-businessline",
    "url": "https://www.thehindubusinessline.com/markets/gold/gold-demand-down-30-in-september-quarter-as-high-prices-hurt-jewellery-sales/article71660046.ece"
  },
  "original_language": "en",
  "account": "In the September quarter, global gold demand decreased by 30%, reaching 162 tonnes compared to 230 tonnes in the same period last year. The decline in demand was primarily driven by high gold prices, which led to a drop in jewellery sales. Despite this downward trend, the value of gold demand increased by 3% to ₹2.42 lakh crore, largely due to the depreciation of the rupee against the dollar. The decline in jewellery demand was significant, falling by 20% to 100 tonnes, as consumers postponed their purchases due to the elevated prices. In value terms, jewellery demand rose by 16% to ₹1.49 lakh crore. Sachin Jain, Regional CEO of the World Gold Council for India, noted that consumers prioritized purchases amid the price surge and balanced affordability with long-term value. However, a decrease in gold prices towards the end of Q3 encouraged some deferred purchases. Imports of official bullion fell sharply, and recycling remained low, with preliminary estimates suggesting an increase in unofficial inflows. Gold bars and coins demand declined by 40% to 55 tonnes, while its value dropped by 13% to ₹81,890 crore. Net gold imports decreased by 46% to 114 tonnes. Recycled gold also decreased by 12% to 19 tonnes. The average gold prices surged by 23% to $4,262 an ounce, with Indian gold prices increasing by 46% to ₹1.49 lakh per 10 grams. Gold ETF demand halved to 5.3 tonnes, and its value declined by 28% to ₹7,890 crore. Digital gold purchases dropped by 44% to 4.9 tonnes. The Reserve Bank of India restricted gold purchases in Q3 compared to 0.2 tonnes bought in the same period last year. Jain anticipates a revival in gold demand during the December quarter, particularly during festival seasons and the wedding season, as the softening of gold prices will encourage consumers.",
  "summary": "Demand recovery seen in the December quarter on softer prices, festive buying and extended wedding season",
  "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."
}