India gold demand crashes 70% after duty hike, squeezing jewelry retailers
A duty hike has triggered a near-70% collapse in India's gold demand, pressuring jewelry chains like Tanishq, Titan and Kalyan. Analysts weigh near-term price support and resistance as retailers brace for weaker footfall and shifting consumer strategy.
India gold demand has fallen nearly 70% after a duty hike, pressuring jewelry retailers. Analyst Vandana Bharti of SMC Global discusses gold and silver price outlook, support/resistance levels, and investment strategy amid shifting domestic and global dynamics.
Why this matters
The demand collapse compounds an already cautious jewelry retail environment, with chains like Tanishq, Titan and Kalyan exposed to discretionary spend pullback as duty-driven price shocks deter buyers.
Footfall signals steady at 93 over the last 90 days, but a 70% gold demand drop threatens that baseline.