Gold import duty hike sparks rush buying but sales volume could slide sharply experts warn

Consumers are switching to lighter lower value jewellery

India’s gold jewellery market is recalibrating after an import duty hike, triggering a short-term buying rush. Industry experts expect sales volumes to fall as consumers move toward lighter, lower-value pieces. Retailers may benefit from better margins on lower karatage jewellery, while old gold exchanges could see a boost as people look to turn in metal for new purchases.