Stories
Gold Sales Dip 8-10% in September Amid War Uncertainty, Price Volatility: IBJA
M
Moneycontrol•25-09-2026, 11:30
Gold Sales Dip 8-10% in September Amid War Uncertainty, Price Volatility: IBJA
- •Retail gold demand in India fell 8-10% year-on-year in September, ahead of the festive season, due to consumer sentiment weighed down by ongoing global conflicts and price uncertainty.
- •Surendra Mehta, Secretary of the IBJA, noted that customers are hesitant to buy, believing gold prices might drop further if the war continues, hindering demand despite the upcoming festive period.
- •Spot gold prices in India have seen significant fluctuations, declining over 7% since late February, with a 4.85% correction to Rs 1,50,106 per 10 grams by September 24, 2026.
- •Despite the recent dip, the domestic price of 24-karat pure gold has surged approximately 60% compared to last year, from around Rs 98,000 to Rs 1.57 lakh per 10 grams.
- •Analysts suggest consumers are adapting by opting for lighter jewellery, smaller quantities, and exchange schemes, with investment demand shifting towards gold ETFs, coins, and digital gold.
Key Questions Answered
Retail gold sales in India fell by 8 to 10 percent year-on-year in September. This decline is primarily attributed to consumer sentiment being weighed down by ongoing war uncertainty and high prices.
The domestic price of 24-karat pure gold has surged about 60 percent compared to last year, rising from around Rs 98,000 to approximately Rs 1.57 lakh per 10 grams.
Consumers are opting for lighter, lower-carat, and diamond-studded jewellery, utilizing exchange schemes, and shifting some investment demand toward gold ETFs, coins, and digital gold.
