Gold prices crash 24% globally but fall only 20% in India: Why domestic buyers aren't seeing the full price correction - Livemint

AI desk brief

Global gold fell about 24% from its January 2026 peak to $4,068.71/oz on 6 November, versus a roughly 20% decline in Delhi to ₹146,300/10g on Dhanteras. The article attributes India's smaller correction to import duty rising from 6% to 15% and roughly 2% rupee depreciation, partly offset by the unwinding of January dealer premiums of up to $112/oz. Delhi prices remained around 10% above the previous Dhanteras, potentially constraining purchases despite cheaper international bullion. The World Gold Council expects Indian demand of around 650 tonnes in 2026, the lowest since 2020.