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How will higher import taxes impact Indian Gold and Silver markets?
Earlier this month, the Indian government hiked the import duty on precious metals from 6 percent to 15 percent in an attempt to moderate the country's trade deficit and support the rupee. How will this tax increase likely impact the gold market in India? Not as much as you might expect. Historically, higher import duties have had a limited influence on official import volumes but have significantly increased inflows of “unofficial gold.” Unsurprisingly, domestic gold prices immediately increased with the implementation of the new import duty, but not as much as the 9 percent hike. Spot prices rose between 4 and ... (full story)
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- May 27, 2026 1:04am Posted byFundamental Analysis79
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