India's gold demand falls 6 per cent in April-June on weak seasonal demand, higher duty: WGC

India's gold demand decreased six percent year-on-year during the April-June quarter. This decline occurred despite a significant fifty percent increase in the value of gold consumption. Jewellery demand saw a fifteen percent reduction due to subdued seasonal sales and higher duties. Investment demand remained encouraging, with bar and coin purchases growing nine percent. The World Gold Council forecasts annual demand between 650 and 750 tonnes.

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