India's Gold Market Sees Recovery with Growing Demand and Imports

India's gold market is showing signs of recovery after a significant price adjustment in June, according to a recent analysis from the World Gold Council (WGC).

The WGC observed that both jewellery purchases and bullion imports have shown notable gains over the past few weeks.

Global gold values advanced by 9% in the initial half of August, reaching approximately $4,391 per ounce, while domestic rates climbed close to 7% to INR 151,744 per 10 grams.

This upturn was driven by evolving monetary policy expectations, a softer US dollar, and sustained interest in gold-linked exchange-traded funds (ETFs).