Import duty jump to 15% sends India gold to Rs 1.64 lakh; Chennai leads metros
Government hiked gold and silver import duties to 15% from 6% effective May 13, lifting domestic prices ~6% even as global spot weakened. Chennai gold hit Rs 1,64,190/10g, Delhi Rs 1,63,270, Mumbai Rs 1,63,710. Silver crossed Rs 2.77 lakh/kg in Delhi. Jewellers face festive-quarter demand risk.
India hiked gold and silver import duties to 15% from 6% effective May 13, 2026, driving domestic prices up 6%. Chennai led metros at Rs 1,64,190 per 10g gold; silver crossed Rs 2.96 lakh/kg across cities.