Silver import licensing, duty hikes lift jewellers' input costs as MCX gold dips 0.47%
India tightened silver import rules to a licence regime atop recent precious-metals duty hikes, even as MCX gold slipped 0.47% to Rs 1,57,413/10g and silver eased 1.1% to Rs 2,68,903/kg. Jewellery retailers face costlier, slower sourcing despite softer screen prices.
Gold and silver opened lower on MCX as the Indian government tightened silver import rules, requiring licences, on top of recent precious-metals duty hikes. A stronger dollar and US-Iran tensions added pressure, impacting jewellery retail input costs.