New Delhi, Oct 30
Gold demand in India fell 16 per cent year-on-year to 209.4 tonnes in the July-September quarter due to a sharp rise in prices that pushed up value by 23 per cent, World Gold Council data showed on Thursday.
The price of 24-carat gold (1 gram) was at Rs 11,962 on Thursday, up from 11,935 the previous day, according to data published by the India Bullion and Jewellers Association (IBJA).
Gold is expected to remain volatile within a range of Rs 1,18,000 to Rs 1,24,500 in the near term, he added.
Analysts forecast that jewellery demand is projected to recover in the December quarter following a strong Dhanteras and Diwali period, as footfall went up around 15 per cent.