India’s bullion market may be headed for a sharp reset after the government significantly raised import duties on gold and jewellery, a move analysts believe could cool demand, reduce imports, and alter investor behaviour across the precious metals segment.
Speaking to ET Now, Mohammed Imran from Mirae Asset Sharekhan said the latest increase in import duties, coupled with currency weakness and elevated global inflation pressures, is likely to push domestic gold prices sharply higher and weigh heavily on consumption trends over the next year.
