India’s Q2 gold demand slips 6% to 131.4 tonnes as purchase value hits record Rs 1,98,100 crore
AI Market Summary
WGC data show India's Q2 gold demand fell 6% y/y to 131.4 tonnes, but purchase value hit a record as prices stayed near highs. Composition shifted from jewellery (-15%) toward bars/coins (+9%) and ETFs (+49%), signalling stronger investment/wealth-preservation demand despite affordability constraints. This mix tends to be more price-inelastic, offering near-term support for gold amid high-price headwinds.
Impact level
● Medium
Affected assets
NCCOGOLD2USD/USDT+1.30%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▲ Bullish
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India’s total gold demand fell 6% year on year to 131.4 tonnes in the April–June quarter, but the value of purchases jumped 50% to a record Rs 1,98,100 crore as prices stayed at historic highs, the World Gold Council said. Jewellery demand dropped 15% to 75.1 tonnes, while bar and coin demand rose 9% to 50.3 tonnes. Gold ETF demand increased 49% to 4.2 tonnes.
