India's Gold Demand Shows Signs of Recovery Ahead of Festive Season

India’s gold demand is recovering after June’s price correction, with jewellery purchases, imports and retailer stocking picking up ahead of the festive season. Gold ETFs also continue to attract investors, while old-gold exchanges are helping consumers manage elevated prices. [...] The key test now is whether this recovery can translate into sustained buying through the festive and wedding season. Elevated prices remain a constraint, but the combination of more stable prices, pent-up jewellery demand, stronger retailer stocking, healthy investment flows and rising gold imports points to a more constructive demand environment.