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The Economic Times

Indian jewellers hold off gold purchases before Diwali, betting on further declines below $4,000 an ounce

AI Market Summary
Indian jewellers are deferring festive-season purchases after gold fell below $4,000/oz, extending a roughly 24% decline from January's record. With the import duty at 15% and consumer demand subdued, weaker October-December imports would reinforce near-term physical-demand softness in the world's second-largest gold market, adding a bearish demand-side signal alongside macro drivers.
Impact level
● Medium
Affected assets
NCCOGOLD2USD/USDT+0.09%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▼ Bearish
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Indian jewellers are delaying gold purchases ahead of the festive season. High import duties and soft demand are expected to weigh on imports in October-December.
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