India hikes gold, silver import duty to 15%; MCX gold jumps 6% to Rs 1.62 lakh, silver tops Rs 2.97 lakh/kg
On May 13, 2026, India raised gold and silver import duty from 6% to 15% amid Middle East tensions. MCX June gold futures surged 6% to Rs 1,62,334 per 10g; July silver futures climbed 6.52% to Rs 2,97,251/kg. Jewellery retailers face margin and demand pressure despite PM Modi urging buyers to defer purchases.
On May 13, 2026, India hiked gold and silver import duties from 6% to 15% amid Middle East conflict; MCX gold June futures jumped 6% to Rs 1,62,334/10g and silver crossed Rs 2,97,251/kg despite PM Modi's appeal to defer purchases.