As gold prices dropped over 17% in a year, jewellery demand in India rose 60% year-on-year to 183 tonne in the three months to September this year. The pick-up in demand during the festival season was because consumers had deferred gold buying, waiting for prices to settle at lower levels. However, the demand for bars and coins, which indicates investment demand, dropped 10% in the quarter-ended September compared with the same quarter last year.
