Gold and silver prices in India are anticipated to remain elevated due to a sharp increase in the effective import duty from 6% to 15%. Market analysts, including Ruchit Thakur from VT Markets, note that this duty hike has raised the landing costs for imported bullion, leading to immediate price increases in the domestic market. India, which imports nearly all its gold and over 80% of its silver, will see local prices firm up even if global prices remain stable. Thakur suggests that geopolitical tensions and a declining rupee could further boost domestic bullion prices. While higher prices may slow down jewellery demand temporarily, investment interest may shift towards digital gold and exchange-traded funds (ETFs) as buyers seek more affordable options. Hareesh V from Geojit Investments highlights that despite a potential dip in physical demand, gold will continue to be viewed as a safe-haven asset amid global uncertainties. The duty hike could also help manage India's current account deficit, which is significantly impacted by gold imports. According to Renisha Chainani from Augmont, each percentage point increase in duty could decrease annual gold demand by approximately 6.4 tonnes, suggesting that the recent hike could lower demand by nearly 57 tonnes annually. As a result, domestic gold prices may stabilize around ₹1,53,000 per 10 grams, with resistance near ₹1,70,000.