NEW DELHI: India's gold demand fell 16 per cent by volume in the July-September quarter of 2025 as record-high prices dampened consumer appetite, though investment buying surged on safe-haven appeal, the World Gold Council said on Thursday.

Total gold demand declined to 209.4 tonnes in the third quarter from 248.3 tonnes a year earlier, according to the industry body.

However, the value of demand jumped 23 per cent to Rs 2,03,240 crore from Rs 1,65,380 crore, reflecting sharply higher gold prices.

Gold jewellery demand, which accounts for the bulk of consumption in the world's second-largest bullion market, dropped 31 per cent to 117.7 tonnes from 171.6 tonnes. But the value of jewellery purchases remained flat at around Rs 1,14,270 crore as buyers adjusted to elevated price levels.

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