According to CoinMeta, India's gold imports doubled in July, reaching approximately $4.16 billion, a significant increase from $1.97 billion in June. This growth reflects a rebound in the physical demand for gold in India, which is the world's second-largest gold consumer, especially on the eve of the festival season. The World Gold Council (WGC) noted that all market segments, including jewelry, ETF, and futures, are showing signs of recovery. Despite the increased imports, gold still accounts for a relatively modest proportion of India's total commodity imports, at only 5%.