Domestic investment demand rose 12% quarter-on-quarter to roughly 60 tonnes, representing approximately 21% of the world's bar and coin consumption. Investors increasingly diversified into paper and virtual formats, which helped insulate the sector against an 18% decline in jewelry demand across the first nine months of 2026. Gold ETF holdings expanded to about 124 tonnes, supported by continuous direct purchases despite mutual fund houses temporarily pausing subscriptions for gold fund of funds. Meanwhile, digital gold platforms captured substantial volume thanks to low entry thresholds and accessible consumer interfaces.
Key points
Total investment interest proved far more durable than traditional jewelry demand followi…: Total investment interest proved far more durable than traditional jewelry demand following a nine-percentage-point hike in gold import duties.
Suspensions of new gold fund of funds subscriptions are expected to have a contained impa…: Suspensions of new gold fund of funds subscriptions are expected to have a contained impact on overall ETF inflows.
Alternative formats like digital gold are rapidly gaining significant market share due to…: Alternative formats like digital gold are rapidly gaining significant market share due to low entry requirements and accessibility.
Sources checked by our analysis pipeline: 1
The nine-percentage-point increase in gold import duty in May also weighed on demand. The WGC said its econometric models showed that bar and coin demand was relatively more sensitive to changes in import duties and income. Higher duties and restrictions tend to dampen demand, it said.
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Despite the annual decline, India remained the world's second-largest market for bars and coins after China, accounting for around 21% of global demand in the September quarter, the report said.
Overall gold investment demand rose 12% quarter-on-quarter to around 60 tonnes in the September quarter, although it moderated from the strong levels recorded in the second half of 2025 and the first quarter of 2026 as earlier price momentum faded, the WGC said.
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The sharp tilt towards investment seen in the March quarter, when investment demand overtook jewellery demand, also eased. Investment accounted for around 42% of India's net gold…
Market participants are driving upward momentum in the equity during the latest trading session. The movement reflects immediate trading activity surrounding the company as market action unfolds. Further developments and drivers remain closely monitored by industry observers.
Market participants are driving upward momentum in the equity during the latest trading session. The movement reflects immediate trading activity surrounding the company as market action unfolds. Further developments and drivers remain closely monitored by industry observers.
Selling pressure dominated the session as market participants reacted to emerging economic headwinds. The benchmark measure failed to maintain upward momentum and dropped steadily through the final bell. This steep downturn signals heightened risk aversion among regional investors watching Southeast Asian equity trends.