Gold in India is costlier due to: - 6% import duty - 3% GST - Weak rupee Hence, it trades at a premium to global prices.
@BaluGorade Makes sense — import duties, GST, and currency weakness naturally push domestic gold prices above global rates 📈🇮🇳
@BaluGorade Duties and taxes have always been there. what you bought a year ago is still worth more today that’s the whole point of owning gold
@Yuyutsuuuu yes, agree
@BaluGorade That's also the reason why it gets smuggled into the country.
@BaluGorade So nice na It is hedge against currency depreciation We should allocate at least 20% for such events
@BaluGorade On top of that, India often trades gold at a premium over global spot prices, due to high local demand and supply constraints. This premium varies daily. Festival and wedding seasons (like Navratri, Dhanteras, Diwali, Akshaya Tritiya, and post-harvest months) play a big
@BaluGorade You are utterly spreading wrong information without much insights Gold is not costly in India only because of the 3 reasons you mentioned, primary reason, you did not even mention, probably you are not aware ...
@BaluGorade From 1980 to 2025 in dollar terms gold has given 2.4% CAGR returns. But in rupee terms it has given 11% CAGR returns. Because rupee has depreciated 90% against the dollar. Should you be happy or not ?
@BaluGorade @grok is demand also a factor?
@BaluGorade Same view. https://x.com/InvestingDigest/...
@BaluGorade This is why even when global gold prices fall, Indian gold often remains high!
@BaluGorade Spot on—India's gold premium: 6% duty + 3% GST + rupee's eternal gym membership to depreciation! 💪🇮🇳
@BaluGorade But silver is trading at 10 to 15% premium, even after considering the above factors.
@BaluGorade I think there is no import duty sir... @grok can u chk tax levied on gold
@BaluGorade And nothing is going to get better in the next 2-3 years.
@BaluGorade India had production from kolar gold field. But production stopped due to outdated technology, machines etc. India should have been upgrading kolar gold mines and explore other mining.
@BaluGorade Plus syndicate of bullion merchant
@BaluGorade But it is always the case
@BaluGorade Imagine reducing taxes on gold 🙏
@BaluGorade Silver ?? Due to bulk the spot is at a premium to import parity price. Freight costs as it is bulky as compared to gold.
@BaluGorade Currently Rupee ₹ is little stronger compare to other currencies pound, euro yen against dollar. If it fall more, gold price will go high and costlier.
@BaluGorade GST is above the Real Gold Price.. Import Duty and INR / USD is same since almost 1 year... Price is high because of Abnormally high International prices..!
@BaluGorade Corruption is the main reason, politicians and bureaucrats are hoarding his black assets in Gold due to demonetization fears.
@BaluGorade How will Indian govt redeem gold bonds
@BaluGorade But Akhilesh says Modi is responsible for it 🤣🤣
@BaluGorade Right. Sometimes, it results to advantage: Gold was down ~-65% in USD from 1980 → 2000, but for Indians it still gave ~+230% (since ₹ went from ~₹8 to ~₹44 per USD in that period).
@BaluGorade bhakk bhodbak
@BaluGorade Hence, the smuggling.
@BaluGorade Yeah bro, at this point even gold feels more NRI than Indian.