India's Gold demand slides 29% on year in September quarter, jewellery volumes may remain constrained in near term
Mumbai, Nov. 4 -- World Gold Council or WGC stated in a latest update that seasonal buying should support overall Q4 Gold demand in India, although jewellery volumes may remain constrained by high prices and investment demand sensitive to price momentum. It noted that Indian gold demand strengthened from Q2, but high prices constrained volumes as Q3 demand rose 24% q/q to 162 tonnes (t) but remained 29% lower y/y and 12% lower y-t-d. Spending was more resilient, rising 3% y/y and 38% y-t-d. Jewellery led the sequential recovery as demand rose 33% q/q to 100t, supported by seasonal buying and softer late-quarter prices, but remained 20% lower y/y and 18% lower y-t-d. Investment demand normalised from last year's exceptional levels, WGC not...
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