❖ The World Gold Council (WGC) has raised its projection for India's gold consumption in 2024 to 850 tonnes from 750 tonnes.

❖ In the July-September quarter, the gold demand in India is expected to be 230 tonnes, up 10% year-on-year.

❖ The Gold demand in the April-June quarter fell 5% year-on-year to 158.1 tonnes owing to high import duty.

❖ With the government reducing the importing duty on gold to 6% from 15% in the Union budget on July 23, demand saw a quick uptick