15% gold duty hike triggers 10-15% volume decline at Senco; smuggling fears mount across jewellery trade
Customs duty jump from 6% to 15% has pushed bullion prices ~10% higher, with Hyderabad rates at ₹16,500/gram. Senco Gold flags 10-15% volume decline as buyers shift to lighter, lower-carat pieces and old-gold exchange rises. MSME exporters strained by ₹28-30 lakh/kg bank guarantees.
Gold customs duty hike to 15% has lifted bullion prices ~10%, prompting jewellery demand slowdown, shift to lighter and lower-carat pieces, rising old-gold exchange, and smuggling fears. Senco sees 10-15% volume decline; MSME exporters face working-capital strain.