India's gold demand falls 28% in July - September: World Gold Council

India's gold demand dropped 28% in the July-September quarter, Cogencis said citing the World Gold Council quarterly report.

India's gold demand fell 28% to 194.80 tonnes on year, the report said, according to Cogencis. 

The WGC has cut India's gold demand outlook for 2016 650-750 tonnes, the report said. This was down from the 750 - 850 tonnes gold demand estimated by the Council in August. 

Demand for gold to make jewellery in the country, also fell 28% to 154.7 tonnes, while gold recycling was up at 30 tonnes vs 18.2 tonnes in the quarter, alerts from Cogencis said. 

In the quarter, world gold demand was down 10% at 992.8 tonnes on year, while the demand for jewellery was down 21% at 493.1 tonnes. Gold demand for investment was up 44% on the other hand, at 335.7 tonne.