World Gold Council: India's consumer gold demand recovers in July as prices steady

In its July 2026 India market update, the World Gold Council said consumer buying recovered in July after a lull from mid-May to mid-June marked by seasonally soft demand.

While overall demand remains subdued, the council said the pullback and relative stability in gold prices are stimulating jewellery purchases, with retailer promotions including discounts and exchange offers supporting sales.

India and China are the world's two largest buyers of physical gold, and their consumer-demand trends influence the balance of the global gold market, which fell last week under pressure from the oil surge.