Indian buyers return ahead of wedding and festive season to give Gold its glitter back

India’s gold market is showing clear signs of recovery after the sharp price correction in June. Jewellery demand is picking up, imports are rebounding, and investors are continuing to add exposure to the precious metal ahead of the crucial festive and wedding season.

According to the World Gold Council (WGC), domestic gold prices rose nearly 7% in the first two weeks of August to Rs 1,51,744 per 10 grams, while international prices climbed 9% to $4,391 an ounce. The recovery followed a period of relative stability in July and marked a significant shift in market sentiment after June’s steep correction.

The lower and more stable prices appear to have brought consumers back to the jewellery market. Industry feedback cited by the WGC suggests that deferred purchases have started returning, lifting store footfalls and demand beyond essential wedding-related purchases. Manufacturers are also seeing higher order flows, while jewellers have stepped up inventory replenishment ahead of the festive season