World Gold Council: India's Q2 jewelry demand falls 15%
Business
India's jewelry demand dropped by 15% in Q2 2026, landing at 75 tons, said the World Gold Council.
Even though there was a slight bounce from the previous quarter, high gold prices made shoppers rethink their choices and opt for lighter pieces.
The first half of this year saw an overall decline in jewelry volume.
India jewelry market $21B up 26%
While fewer pieces were sold, the value of India's jewelry market actually jumped 26% to $21 billion in the first half, driven by higher gold prices.
Globally, jewelry demand fell to its lowest since the pandemic.
Meanwhile, central banks boosted their gold reserves, and mine production rose despite less recycling.