Global gold demand decreased by six percent to 1,147.5 tonnes in the third quarter of 2023, primarily due to sluggish demand for bars and coins and reduced buying by central banks, according to the World Gold Council (WGC). However, gold demand in China, the largest consumer, increased marginally to 247 tonnes, while India, the second-largest consumer, saw a 10% rise to 210.2 tonnes. The report highlighted challenges such as high gold prices and economic uncertainty affecting demand in certain markets, particularly in Asia and the Middle East. Central bank gold buying also declined by 27% to 337.1 tonnes.