#Gravitas A new report says India's 3.4-trillion-dollar household gold treasure could become a powerful engine of economic growth, and Generation Z may be the generation that unlocks it. 

How Gen Z Could Turn India into an Economic Superpower with $3.4 Trillion Gold Treasure | GRATIVAS 

India's demand for gold has fallen by 6%, even as total spending on the precious metal reached a record high, according to the World Gold Council.

The latest figures suggest that while Indians continue to value gold for weddings, festivals, and investments, soaring prices are changing buying behavior. Consumers are increasingly opting for lighter jewellery, delaying purchases, or waiting for discounts and festive offers. Meanwhile, investment preferences are also evolving, with digital gold and other alternatives gaining traction as physical gold purchases slow.

India's Gold Demand Falls 6% Despite Record Spending | Why Indians Are Buying Less Gold

China's appetite for gold is showing no signs of slowing down. The world's largest bullion market imported around 173 tonnes of gold in June, marking the highest monthly import level since March 2024 and extending gains for the third consecutive month.

The surge comes after international gold prices corrected sharply from their early-2026 highs, encouraging investors to buy the dip. A stronger Chinese yuan also made overseas gold purchases more affordable, while commercial banks accelerated imports before a new licensing regime took effect.

China's Gold imports hit highest level since 2024 | Gold demand surges as prices fall

After registering a record peak in early trade on Friday, Gold's rally paused as the dollar found some relief from investors who are concerned over tensed ties between the United States and China.

Spot gold came down to 0.2 per cent to $2,058.55 per ounce by 0945 GMT after witnessing a record high of $2,072.50 earlier today.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/india-news/chennai-passengers-smuggle-gold-via-relief-flights-221kg-gold-seized-318400">Chennai: Passengers smuggle gold via relief flights; 2.21Kg gold seized</a>

It has gained 4 per cent so far this week, which is its ninth consecutive weekly gain.

Also read |&nbsp;<a href="https://www.wionews.com/india-news/nia-team-to-fly-to-uae-to-investigate-kerala-gold-smuggling-case-318115">NIA team to fly to UAE to investigate Kerala gold Smuggling case</a>

US gold futures was trading at $2,070.20.

"We'll see some pullback (in gold) from these levels with USD bottoming for a while and maybe even see some strength in the USD in the near term, which will reverse these gains but not entirely," said Spencer Campbell, director at SE Asia Consulting Pte Ltd, reported news agency Reuters.

"People will be looking to re-enter the market on any pullbacks in precious metals as the medium to longer term views are significantly higher."

The dollar bounced back from a two-year low following US President Donald Trump's decision to ban US transactions with two Chinese apps.&nbsp;

"The dollar's performance has a major say on how much runway gold bulls are accorded," said FXTM market analyst Han Tan.

Gold has jumped over 35 per cent this year amid surging COVID-19 cases that have adversely affected economies and led to unprecedented stimulus measures across the globe.

After registering a record peak in early trade on Friday, Gold's rally paused as the dollar found some relief from investors who are concerned over tensed ties between the United States and China.

After registering a record peak in early trade on Friday, Gold's rally paused as the dollar found some relief from investors who are concerned over tensed ties between the United States and China. Spot gold came down to 0.2 per cent to $2,058.55 per ounce by 0945 GMT after witnessing a record high of $2,072.50 earlier today. Also read | Chennai: Passengers smuggle gold via relief flights; 2.21Kg gold seized It has gained 4 per cent so far this week, which is its ninth consecutive weekly gain. Also read | NIA team to fly to UAE to investigate Kerala gold Smuggling case US gold futures was trading at $2,070.20. "We'll see some pullback (in gold) from these levels with USD bottoming for a while and maybe even see some strength in the USD in the near term, which will reverse these gains but not entirely," said Spencer Campbell, director at SE Asia Consulting Pte Ltd, reported news agency Reuters. "People will be looking to re-enter the market on any pullbacks in precious metals as the medium to longer term views are significantly higher." The dollar bounced back from a two-year low following US President Donald Trump's decision to ban US transactions with two Chinese apps. "The dollar's performance has a major say on how much runway gold bulls are accorded," said FXTM market analyst Han Tan. Gold has jumped over 35 per cent this year amid surging COVID-19 cases that have adversely affected economies and led to unprecedented stimulus measures across the globe.

Gold eases off after witnessing record high

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How Gen Z Could Turn India into an Economic Superpower with $3.4 Trillion Gold Treasure | GRATIVAS

India's Gold Demand Falls 6% Despite Record Spending | Why Indians Are Buying Less Gold

China's Gold imports hit highest level since 2024 | Gold demand surges as prices fall

Gold eases off after witnessing record high