India raises gold import duty to 15%, curbing demand and lifting prices

The Indian government increased the import duty on gold from 6% to 15% to conserve foreign‑exchange reserves amid geopolitical uncertainty and pressure on the rupee. The higher tariff is expected to reduce consumer purchases, although gold remains culturally important for festivals and weddings. Domestic gold prices have risen, while global equity markets slipped, bond yields in developed economies climbed, and a stronger US dollar added further pressure on the metal. Analysts note that expectations of a near‑term interest‑rate hike also weigh on gold, but fundamentals remain strong, and price pullbacks may present buying opportunities for investors.

The move highlights the balance between protecting national reserves and sustaining demand for an asset that serves both as an investment hedge and a cultural staple in India.