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.

India's gold demand remains low due to price volatility and high import duties, while China sees easing premiums.

The organised gold jewellery retail sector is set for a steep 13–15% volume decline to a decade low in FY27, driven by the governments import duty hike to 15%. Rising prices,…