Gold, silver jump 6%+ as India hikes import duty to 15%; 24K hits ₹1,61,410/10g
IBA retail rates on May 13 show 24K gold at ₹1,61,410/10g and 999 silver at ₹2,96,570/kg after duty hike from 6% to 15%. MCX June gold ₹1,62,648/10g, July silver ₹2,96,984/kg. Spot gold $4,695.99/oz. City variations across Delhi, Mumbai, Hyderabad, Kolkata, Bengaluru, Chennai.
On May 13, Indian gold and silver prices jumped over 6% after import duties were hiked to 15% from 6%. IBA retail rates: 24K gold ₹1,61,410/10g, silver ₹2,96,570/kg, with city-wise variations.