Vi e w p o i n t | 27 Jul 2026 09:47:25 ET │ 9 pages Metal Matters India gold imports to face continued headwinds in 3Q'26 India gold imports have been under pressure as Strait of Hormuz tensions and higher oil prices have led to Rupee depreciation, higher duties, and weak investment sentiment. Local gold prices are currently trading at an average discount of ~1% (20dMA), signaling weak underlying demand and elevated selling pressure (see Figure 1). Notably, 2Q'26 saw a rise in old jewelry sold for cash rat ...