India, the world’s largest importer of gold, saw a sharp decline in demand for the first time in five quarters in July-September. The demand fell 23 per cent year-on-year from 263.9 tonnes to 203.3 tonnes.
This was in variance with the global demand, which went up six per cent.
China’s demand rose 16 per cent in the same period, according to World Gold Council (WGC) data.
Text: Business Standard