India gold discounts reach record high on duty hike
Gold discounts in India jumped to 207 dollars an ounce this week after a sharp import duty hike to 15 percent triggered investor selling and sidelined retail buyers. Meanwhile, Chinese premiums remained firm due to resilient investment demand and aggressive industrial stockpiling.
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India gold discounts reached a record $207 per ounce this week after import tariffs rose to 15% from 6%, crushing local demand. The tariff increase triggered widespread investor selling and pushed retail buyers to the sidelines. This policy shift marks a significant turn for the world's second-largest bullion consumer as domestic prices hit two-month highs.
