#New Delhi

India’s gold demand fell 16% by volume in the July-September quarter of 2025 as record-high prices dampened consumer appetite, though investment buying surged on safe-haven appeal, the World Gold Council said on Thursday.

Total gold demand declined to 209.4 tonnes in the third quarter from 248.3 tonnes a year earlier, according to the industry body.

However, the value of demand rose 23% to Rs 2,03,240 crore from Rs 1,65,380 crore, reflecting sharply higher gold prices.

Gold jewellery demand, which accounts for the bulk of consumption in the world’s second-largest bullion market, dropped 31% to 117.7 tonnes from 171.6 tonnes. But the value of jewellery purchases remained flat at around Rs 1,14,270 crore as buyers adjusted to elevated price levels.

Investment demand showed “r

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