From BusinessLine
Center-Right Owned by The Hindu Group (Kasturi & Sons)India’s tax hike drives illegal gold imports to 3-year high
What's behind this
On 3 November 2026, gold and silver prices fell in Bangalore, reflecting weakness in the domestic bullion market. In the same period, India’s gold demand dropped 29% in the July‑September quarter, with total jewellery demand down 20% to 99.9 tonnes from 125 tonnes a year earlier, while the value of jewellery demand rose 16% to ₹1,48,700 crores. Indians are also holding onto gold in lockers, hoping for better prices, and overall gold demand is expected to fall.
AI-generated overview from 2 outlets. It summarises their reporting and adds no reporting of its own.
What each side is saying
One outlet's own words from each side of the spectrum. Quoted, not summarised.
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left · 1 outlet
Check today's live gold and silver rates in India across major cities including Mumbai, Delhi, Chennai and Bengaluru for 24K, 22K, and 18K gold purities.
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right · 3 outlets
22, 24 carat Gold prices see mixed trend across metro cities on November 2
RSS excerpt
Informal shipments for July to September jumped more than 1,500% to 50 metric tons from 3 tons a year earlier, the producer-funded group said, citing data from consultancy Metals Focus
