SBI warns of higher gold prices and more grey market supply after 15% duty hike

A duty jump may push buyers toward unofficial channels

SBI Research says a 15% customs duty hike on gold imports is likely to lift domestic prices and reduce legal import volumes. The report also flags a risk of supply diversion into grey markets, potentially reshaping the flow of gold into India. While the effect on the current account deficit is uncertain, the direction for pricing and imports appears clear.