Gold is being offered at a ₹450/g discount in India after the government raised Customs duty to 15%, impacting demand following PM Modi's appeal to avoid purchases.
Import duty hikes in 2019 and 2022 also resulted in domestic market discounts
May 24, 2026
04:04 pm
What's the storyGold prices in the Indian market have fallen by over ₹450 per gram.
This comes after the Indian government more than doubled the customs duty from 6% to 15% on May 13.
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