Customs duty hike sends gold to ₹1.62L/10g in Delhi; jewellery retailers brace for demand hit
Centre's duty hike on precious metals on May 13, 2026 pushed 24K gold up ₹9,338 to ₹16,285.8/gram and silver to ₹2.97L/kg. MCX Aug 2026 gold hit ₹1,66,620/10g. With PM Modi already urging restraint on gold buying, Tanishq, Kalyan and Malabar face margin and footfall pressure heading into wedding season.
What happened
Gold & Silver (Jewellery category) · Centre's customs duty hike on precious metals triggered sharp gold and silver price surges on May 13, 2026, with 24K gold
Key facts
- 24K gold ₹16,285.8/gram, up ₹9,338
- 22K gold ₹14,917.79/gram, up ₹8,553.61
- Silver ₹2,97,386/kg, up ₹18,532
- Delhi gold ₹1,62,858/10g
- MCX Aug 2026 gold ₹1,66,620/10g
Why this matters
Use the volatility window to accelerate exchange/old-gold scheme partnerships and scout distressed regional jewellers whose unhedged inventory and weaker balance sheets become acquisition-ready under sustained ₹1.6L+ price levels.