India gold discounts hit record $207/oz as 15% duty hike freezes jewellery counters
India's gold import duty jump to 15% from 6%, plus a 3% sales levy, pushed domestic discounts to an all-time $207/oz with prices spiking to ₹1,64,497/10g. Jewellers and retail buyers in Mumbai and Hyderabad stepped back while investors sold; duty-free jewellery export imports capped at 100kg per licence. China premiums held firm in contrast.
India's gold import duty hike to 15% from 6% drove domestic discounts to a record $207/oz as demand collapsed; jewellers and retail buyers stayed sidelined while investors sold, with duty-free jewellery export imports capped at 100kg per licence.