Mumbai: India's gold demand declined 6 per cent year-on-year (YoY) to 131.4 tonnes during the April-June quarter of 2026, as subdued seasonal demand, higher customs duty and a shift in consumer sentiment weighed on purchases, according to the World Gold Council's (WGC) latest Q2 2026 Gold Demand Trends report. The country's total gold demand stood at 131.4 tonnes in the quarter, down from 139.7 tonnes in the corresponding period last year, with jewellery consumption witnessing the sharpest decline. Jewellery demand fell 15 per cent year-on-year to 75.1 tonnes from 88.8 tonnes a year ago, as per the data. “I would appeal to people not to buy gold for weddings for one year,” PM Modi said in May amid the ongoing global crisis because of Middle East tensions. Meanwhile, gold and silver prices drop up to 1 per cent on MCX on Thursday due to profit booking ahead of US Fed policy decision.