India’s Gold Demand Drops 6% in Q2 2026 as High Prices, Duty Hike Hit Purchases: WGCIndia's gold demand fell 6% in the April-June quarter to 131.4 tonnes due to high prices, seasonal weakness and higher import duty, though consumption value touched a record high, WGC said. Demand for gold fell to 131.4 tonnes in the quarter two of 2026 against 139.7 tonnes in the quarter two of last year, as reported in the latest Gold Demand Trends report by WGC. But even in the context of fall in demand, the value of gold consumption touched an all-time high on account of rising prices. Gold Demand Projections for 2026For the entire year, the WGC projects gold demand in India to range between 650 and 750 tonnes. A fall in gold prices or a lowering of customs duty will drive the demand towards the upper end of the range, the WGC said.