Gold duty hike triggers ~10% price jump; jewellery buyers downsize, shift to exchanges
India's higher gold import duty pushed domestic prices up nearly 10%, eroding a ₹25,000 budget's buying power. IBJA flags subdued bullion and jewellery demand, with consumers opting for lighter grammage, lower-carat pieces, and old-gold exchanges. Brands like Malabar, AB Jewels and Shringar brace for muted trade until the wedding-festive season.
India's sharp gold import duty hike drove domestic prices up nearly 10%, crushing bullion and jewellery demand. Buyers are downsizing grammage, opting for lighter or lower-carat pieces, and increasingly exchanging old gold; IBJA expects subdued trade until festive season.