Goa, July 30 -- India's gold demand declined 6 per cent year-on-year to 131.4 tonnes in the April-June quarter, as higher import duty, elevated prices and subdued seasonal demand weighed on purchases, according to the World Gold Council's (WGC) latest report.

Jewellery demand fell 15 per cent to 75 tonnes, marking the second-lowest quarterly level since the WGC began tracking data in 2000. Despite the decline, India retained its position as the world's largest gold jewellery market, accounting for 27 per cent of global demand, ahead of China.

The report said demand received temporary support from Akshaya Tritiya and the wedding season as gold prices eased from their first-quarter highs. However, buying weakened during the inauspicious p...