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Gold and silver prices surge in India as import duty doubles to 15% pushing 24K to ₹1,63,000
Economy
Published on 13 May 2026
A sudden policy tweak lifts prices nearly 6% today
Gold jumped nearly 6% to around ₹1,63,000 for 24K and silver climbed about 6.2% to roughly ₹2,96,910/kg in India on 13 May 2026. The main trigger: the government more than doubled import duty to 15% from 6%, adding a 10% customs duty and 5% Agriculture Infrastructure and Development Cess. Markets also watched global safe-haven cues and US dollar moves.
- Import duty on gold and silver was raised to 15% from 6%
- 24K gold rose about 6% to ~₹1,63,000 per 10g and silver to ~₹2,96,910 per kg
- MCX contracts also jumped, with silver crossing ₹3 lakh/kg intraday
- Concerns grow about grey market and illegal imports due to higher margins
Read the full story at Startup Talky
This summarization was done by Beige for a story published on 
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