India Raises Gold Import Duty to 15%, Sparking Market Turmoil The Indian government has significantly increased the import duty on gold and silver, raising it from 6% to 15% as of May 13, 2026. This decision has led to a sharp rise in taxes on gold imports, with a 10-gram gold bar now subject to a tax of approximately ₹27,000. The move is expected to heavily impact consumers, as the tax alone could increase the price of gold by ₹13,500 per 10 grams, creating a substantial financial burden for buyers. The government cited the need to stabilize the rupee and reduce the trade deficit as key reasons for the hike. With the Indian rupee weakening against the US dollar, the policy aims to curb the outflow of foreign exchange by making gold imports more expensive. India relies heavily on gold imports, with nearly all of its gold supply coming from abroad. Last year, the country imported 710 tons of gold, contributing to a significant trade deficit. The higher import duty is intended to discourage excessive gold imports and bolster the foreign exchange reserves. The decision follows Prime Minister Narendra Modi’s recent appeal for citizens to avoid non-essential gold purchases and delay overseas travel. The move comes amid global economic uncertainty, including the impact of the Iran conflict in the Middle East, which has disrupted international trade. Experts believe the policy will encourage consumers to shift toward alternative investments and prioritize domestic economic growth over gold as a store of value. The jewelry market has already reacted sharply to the news. Shares of major jewelry companies like Titan and Kalyan Jewellers saw steep declines, with analysts predicting a potential 10% drop in gold demand. Industry insiders suggest that consumers may opt for lighter, more affordable jewelry to mitigate the cost impact.#india #indian_rupee #narendra_modi #titan #kalyan_jewellers
Gold Prices Rise Amid Policy Calls for Gold Lending Reforms Gold prices remained elevated on May 12, 2026, with leading jewelry brands reporting upward trends in 22k gold rates across major Indian cities. The surge follows Prime Minister Narendra Modi’s recent call for citizens to temporarily reduce non-essential gold purchases for the next year to ease pressure on India’s foreign exchange reserves and imports. The India Bullion and Jewellers Association (IBJA) has since advocated for policy reforms to better utilize domestic gold holdings, emphasizing the need for regulated lending and borrowing mechanisms. The IBJA highlighted that the current Income Tax Act restricts individuals from lending or borrowing gold to jewelers of their choice, limiting the potential for domestic gold to contribute to economic stability. In a social media post on X, the association stated, “India’s current account deficit is linked to the Income Tax Act. Amend the Income Tax Act to allow borrowing and lending of commodities (Gold). Currently, a holder of household gold cannot lend gold to jewellers of his choice as the Income Tax Act does not permit this. India needs a regulated exchange platform for lending and borrowing of gold similar to equity lending and borrowing, which is already permitted.” The association’s call for policy changes comes amid a broader context of rising gold prices. On May 12, 2026, major jewelry brands such as Tanishq, Malabar Gold & Diamonds, Kalyan Jewellers, and Joyalukkas reported higher rates for 22k gold. For instance, Tanishq’s 22k gold price in New Delhi, Mumbai, Chennai, Kolkata, and Bengaluru stood at Rs 14,160 per gram, a Rs 170 increase compared to the previous day.#prime_minister_narendra_modi #malabar_gold_diamonds #kalyan_jewellers #tanishq #india_bullion_and_jewellers_association
State Bank of India Reports 5.5% Rise in Net Profit, Shares Drop 7.4% Amid Mixed Results State Bank of India (SBI) reported a 5.5% year-over-year increase in net profit for the March quarter, reaching ₹19,683.75 crore, according to standalone financial statements filed on stock exchanges. The bank’s net interest income (NII) also rose 3% to ₹1,23,097 crore, reflecting stable performance in its core lending activities. However, the results failed to meet investor expectations, leading to a sharp decline in SBI’s share price, which fell 7.4% intraday on May 8, 2026. The stock’s steep drop followed a mixed set of financial metrics. While SBI’s asset quality improved, with non-performing assets (NPAs) declining to 1.49% from 1.82% a year earlier, its treasury operations faced challenges. Treasury income dropped 23% YoY, attributed to lower gains from market activities. Additionally, provisions for bad loans fell 21% to ₹3,140 crore, signaling a reduction in loan defaults. Despite these improvements, investors remained unimpressed, as the bank’s net profit growth remained modest compared to expectations for single-digit growth in the January-March quarter. SBI’s net interest margin (NIM) stood at 2.81% for the March quarter, with domestic NIM at 2.93%. However, analysts warned that the NIM could face pressure in the coming months due to a repo rate cut by the Reserve Bank of India and rising costs of funds. The bank’s net interest income is projected to grow between 7-9% in the next quarter, supported by healthy loan book expansion. The results also included a significant dividend declaration. SBI’s board announced a dividend of ₹17.35 per equity share for the financial year ended March 31, 2026.#reserve_bank_of_india #state_bank_of_india #kalyan_jewellers #titan_co #ujjivan_small_finance_bank
Gold Prices Dip Ahead of Akshaya Tritiya Amid Geopolitical Developments Gold prices saw a marginal decline across major jewellers in India on Friday, April 17, 2026, as the market prepared for the auspicious occasion of Akshaya Tritiya. The decrease, influenced by geopolitical developments such as a 10-day ceasefire between Lebanon and Israel and potential US-Iran talks, has positioned the yellow metal as a potential buying opportunity for consumers. The drop in gold rates was observed in leading jewellery brands including Tanishq, Malabar Gold & Diamonds, Kalyan Jewellers, Joyalukkas, and IBJA. Prices for 22k gold jewellery, a popular choice for festive purchases, fell slightly compared to the previous day. For instance, Tanishq reported a price of Rs 14,175 per gram in New Delhi, Mumbai, Chennai, Kolkata, and Bengaluru on April 17, down from Rs 14,300 on April 16. Similarly, Joyalukkas, Kalyan Jewellers, and Malabar Gold & Diamonds all recorded prices of Rs 14,135 per gram on April 17, a decrease from Rs 14,260 on April 16. The decline in gold prices coincided with broader geopolitical shifts. The Lebanon-Israel ceasefire, which took effect on April 16, and discussions between the US and Iran about potential diplomatic engagement contributed to market sentiment. Analysts noted that these developments reduced pressure on gold, which is often seen as a safe-haven asset during times of global uncertainty. IBJA, a prominent jewellery association, provided indicative retail selling rates for gold and silver on April 17, 2026. For fine gold (999 purity), the rate was Rs 15,136 per gram, compared to Rs 15,311 on April 16. Other karat varieties also saw declines: 22k gold dropped to Rs 14,773 from Rs 14,943, 20k gold fell to Rs 13,471 from Rs 13,626, and 18k gold decreased to Rs 12,260 from Rs 12,402.#malabar_gold_diamonds #kalyan_jewellers #tanishq #joyalukkas #akshaya_tritiya
Gold Rates Today: Decline Across Major Indian Jewelry Brands Amid Geopolitical Shifts Gold prices have declined across leading Indian jewelry brands on April 10, 2026, following a US-Iran ceasefire and a subsequent drop in crude oil prices. The easing of geopolitical tensions has shifted market sentiment, prompting traders to reassess inflation risks and the demand outlook for safe-haven assets like gold. This trend was observed in the rates of 22k and 24k gold at prominent brands such as Tanishq, Kalyan Jewellers, Malabar Gold & Diamonds, Joyalukkas, and the Indian Bullion and Jewellers Association Ltd (IBJA). The decline in gold prices was notable compared to the previous day, April 9, 2026. For instance, Tanishq’s 22k gold rate for jewelry stood at Rs 14,065 per gram in major cities like New Delhi, Mumbai, Chennai, Kolkata, and Bengaluru on April 10, down from Rs 13,925 on April 9. Similarly, Kalyan Jewellers reported a 22k gold rate of Rs 14,025 per gram on April 10, compared to Rs 13,885 the prior day. Malabar Gold & Diamonds and Joyalukkas also saw their 22k gold rates rise to Rs 14,025 per gram on April 10, up from Rs 13,885 on April 9. These adjustments reflect broader market movements influenced by the geopolitical developments. The Indian Bullion and Jewellers Association Ltd (IBJA) provided indicative retail selling rates for gold jewelry, which aligned with the trends observed at individual brands. On April 10, 2026, the AM (morning) rates for 24k gold (999 purity) were Rs 15,031 per gram, up from Rs 14,994 on April 9. The 22k gold rate was Rs 14,670 per gram, compared to Rs 14,634 the previous day. Lower karat gold also saw marginal increases, with 20k gold at Rs 13,377 per gram (up from Rs 13,344) and 18k gold at Rs 12,175 per gram (up from Rs 12,145).#malabar_gold_diamonds #kalyan_jewellers #tanishq #joyalukkas #us_iran_ceasefire
Gold Prices Dip Slightly on April 2, 2026, as Major Retailers Report Lower Rates Gold prices experienced a marginal decline on April 2, 2026, marking a welcome development for buyers. Leading jewellery brands such as Tanishq, Kalyan Jewellers, Malabar Gold & Diamonds, Joyalukkas, and the India Bullion and Jewellers Association Ltd. (IBJA) reported reduced rates for 22-karat gold across major cities including New Delhi, Mumbai, Chennai, Kolkata, and Bengaluru. The downward trend was observed in both 22-karat and other purity levels, with prices showing slight adjustments compared to the previous day. The decline in gold prices was attributed to a combination of factors, including a temporary easing of demand and macroeconomic pressures. Experts noted that while gold and silver rates are expected to remain volatile in the short term, they are likely to stay within a range-bound framework. This is due to the ongoing balance between safe-haven demand and broader economic challenges. For 22-karat gold, the latest rates from major retailers reflected the following changes: Tanishq priced 22-karat gold at Rs 13,920 per gram on April 2, 2026, down from Rs 14,060 per gram on April 1. Kalyan Jewellers adjusted its rate to Rs 13,880 per gram, compared to Rs 13,885 per gram the previous day. Malabar Gold & Diamonds also saw a marginal drop, with rates at Rs 13,880 per gram on April 2, down from Rs 13,885 per gram on April 1. Joyalukkas reported a similar decline, with 22-karat gold priced at Rs 13,880 per gram on April 2, compared to Rs 13,885 per gram on April 1. IBJA’s indicative retail selling rates for gold jewellery on April 2, 2026, provided further insight into the market movement. The association’s data showed a notable decrease in prices for various gold purities.#malabar_gold_diamonds #kalyan_jewellers #ibja #tanishq #joyalukkas
Gold Prices Decline Across Major Indian Jewellery Chains and IBJA on March 27, 2026 Gold prices experienced a decline across leading Indian jewellery chains and the India Bullion and Jewellers Association (IBJA) on March 27, 2026. Experts suggest that geopolitical tensions, sanctions, currency fluctuations, and the US Federal Reserve’s interest rate policies could contribute to further volatility in gold prices. They indicate that gold prices may remain range-bound until the US Fed provides clarity on interest rates. The decline in gold rates was observed across major jewellery brands, including Tanishq, Malabar Gold & Diamonds, Joyalukkas, and Kalyan Jewellers, as well as IBJA. The drop in prices was noted for both 22-karat and 24-karat gold, with the rates falling in key cities such as Bengaluru, Mumbai, and Chennai. For Tanishq, the latest price for 22-karat gold jewellery was Rs 13,305 per gram on March 27, 2026, representing a slight increase of Rs 15 compared to the previous day. However, the price for 24-karat gold was not explicitly mentioned in the report. Joyalukkas, Kalyan Jewellers, and Malabar Gold & Diamonds all reported a decline of Rs 200 per gram for 22-karat gold compared to March 26, 2026. IBJA provided indicative retail selling rates for gold jewellery on March 27, 2026, with the following prices: Fine Gold (999) at Rs 14,372, 22-karat gold at Rs 14,027, 20-karat gold at Rs 12,791, 18-karat gold at Rs 11,641, and 14-karat gold at Rs 9,270. These rates were compared to the rates from March 25, 2026, which showed a decrease across all purities. For example, Fine Gold (999) fell from Rs 14,621 to Rs 14,372, while 22-karat gold dropped from Rs 14,270 to Rs 14,027.#malabar_gold_diamonds #kalyan_jewellers #tanishq #joyalukkas #india_bullion_and_jewellers_association
22k Gold Rate Today: Check 22K and 24K Gold Prices on March 26, 2026 Gold prices showed signs of recovery on March 25, 2026, following a largely downward trend throughout March 2026. Experts anticipate continued volatility due to geopolitical tensions, including the Iran-Israel conflict, and uncertainty surrounding the US Federal Reserve’s interest rate decisions. Major Indian jewelers such as Tanishq, Joyalukkas, Kalyan Jewellers, and Malabar Gold & Diamonds reported 22k gold prices around Rs 13,465 per gram on March 26, 2026. The recovery on March 25 was noted, but gold rates had remained lower for most of the month. Analysts suggest that further price fluctuations may occur due to ongoing geopolitical developments, sanctions, currency market shifts, and the Fed’s monetary policy outlook. They expect gold prices to remain range-bound until there is clarity on the Fed’s interest rate trajectory. As of March 26, 2026, the India Bullion and Jewellers Association (IBJA) provided indicative retail selling rates for gold jewellery. For 22KT gold, the rate was Rs 14,270 per gram, while other karat options included Rs 13,012 for 20KT, Rs 11,843 for 18KT, Rs 9,430 for 14KT, and Rs 14,621 for fine gold (999). IBJA had not yet updated rates for March 26. Leading jewelers reported specific 22k gold prices for the day. Tanishq listed the rate at Rs 13,485 per gram in Bengaluru, Mumbai, and Chennai. Joyalukkas, Kalyan Jewellers, and Malabar Gold & Diamonds all quoted Rs 13,465 per gram, with Wednesday’s rates at Rs 13,445 per gram for the latter three. Commodities analyst Manav Modi of Motilal Oswal Financial Services attributed the decline in gold and silver prices to shifting macroeconomic expectations rather than reduced demand.#malabar_gold_diamonds #kalyan_jewellers #tanishq #joyalukkas #india_bullion_and_jewellers_association
3 stocks to buy with up to 73% upside: Coforge, ICICI Bank, Kalyan Jewellers MOFSL has recommended buying three stocks—Coforge Ltd, ICICI Bank Ltd, and Kalyan Jewellers India Ltd—with potential upside of up to 73%. The brokerage highlighted that Coforge shares are currently priced based on an extreme bear-case scenario, while Kalyan Jewellers maintained strong demand despite rising gold prices. ICICI Bank was praised for its robust asset quality and growth prospects. ICICI Bank’s target price is Rs 1,750, offering a 40% upside. MOFSL noted the bank’s healthy operating performance, driven by broad-based growth in business banking and corporate demand. The bank is focusing on fee income expansion and operating leverage to support earnings, while maintaining low credit costs (~45-50bps through-cycle) and strong provision buffers. These factors ensure earnings stability across economic cycles. The brokerage estimates the bank will deliver a PPoP/PAT CAGR of 17.7% and 16% over FY26-28E, leading to an RoA/RoE of 2.3% and 16.4%, respectively. Kalyan Jewellers’ target price is Rs 550, with a 44% upside potential. Despite an 80% year-over-year and 20% quarter-over-quarter rise in average gold prices, demand for the company’s products remained strong during January–March, supported by the wedding season. The company’s franchise-led model, contributing 50% of revenue, and expansion into non-South markets have bolstered its growth profile. A shift toward studded jewelry and an asset-light strategy have improved cash flow, deleveraging, and profitability. Kalyan has achieved revenue, Ebitda, and adjusted PAT CAGR of 33-54% over FY22-26E. MOFSL models a CAGR of 21%, 19%, and 23% for revenue, Ebitda, and PAT over FY26-28E.#icici_bank #mofsl #kalyan_jewellers #coforge_ltd #icici_bank_ltd
