Indians buy 30% more gold after recent price correction - The Economic Times

AI desk brief

Indian gold purchases rose 30% during Dhanteras-Diwali, with an industry body reporting 52 tonnes worth ₹72,000 crore, alongside 300 tonnes of silver worth ₹5,400 crore. Gold's correction from about ₹1.8 lakh to ₹1.42 lakh per 10 grams and advance wedding-season purchases encouraged demand, according to the report. Council chairman Rajesh Rokde also cited salary and festive-bonus timing as support. The rebound could support physical demand, but follows an almost 50% decline in gold sales volumes this fiscal year through September, attributed to higher prices, import duties and Prime Minister Modi's appeal to avoid gold purchases.