India gold demand revives as prices hit two-month low; dealer discounts narrow to $35/oz
Indian jewellery buyers returned this week as domestic gold slipped 1.5% to ₹146,444 per 10g, a two-month low. Dealer discounts narrowed sharply to $35/oz from $87/oz prior, signaling improved offtake. Jeweller restocking stays cautious amid soft retail outlook and a 15% import duty plus 3% sales levy weighing on margins.
What happened
India Gold Market · Indian gold demand ticked up as domestic prices fell to a two-month low, drawing jewellery buyers back. Dealer discounts narrowed to $35/oz
Key facts
- 146444 rupees per 10g
- -1.5% weekly
- $35/oz discount
- $87/oz prior discount
- 15% import duty
- 3% sales levy
Why this matters
Cautious restocking under a combined 18% tax burden keeps smaller jewellers vulnerable, opening selective consolidation or supply-chain partnership opportunities in the Indian retail gold segment.