Indians buy gold for Dussehra and Diwali despite 26% drop
Gold prices have fallen more than 26% since January 2026, but that hasn't stopped Indians from buying gold for Dussehra and Diwali.
Instead of splurging on heavy jewelry, people are sticking to their budgets by choosing lighter pieces or investing in gold coins, bars, and ETFs.
With spot gold now at $4,145.22 per ounce, everyone's watching the US Federal Reserve's October 27-28, 2026 meeting for hints on what happens next.
Gold ETFs net ₹2,596.70 cr inflows
High prices haven't killed demand, just changed it.
More folks are putting money into gold ETFs (which saw ₹2,596.70 crore in net inflows in August 2026) while overall gold imports dropped to $2.3 billion in August 2026, down 58% compared with August 2025 (year-on-year).
Basically, people still want gold: they're just being smarter about how they buy it now.