timesofindia.indiatimes.com ·
gold price prediction today india where is gold silver rate headed on may 13 2026 mcx gold futures outlook customs import duty hike us iran war middle east tensions
Topic context
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AI insight
AI-generatedIndia's import duty hike on gold and silver (6% to 15%) directly raises domestic bullion prices, squeezing local jewellers' margins and reducing consumer demand. The channel is regulatory (import tariff) and fx_passthrough (rupee vs dollar). Impact is India-specific (EM_MARKETS) with global gold price support from ETF inflows and safe-haven demand amid US-Iran tensions. Affected products: gold, silver. Scarcity risk is low as the duty aims to curb imports, not supply shortage.
Signals our AI researcher identified
Extracted by our AI model from this article and related public sources — not direct quotes from the publisher.
- India raised import duty on gold and silver from 6% to 15% on May 13, 2026.
- MCX gold briefly reached ₹1.64 lakh per 10 grams; silver touched ₹3 lakh/kg.
- International gold rose ~2% to ~$4,740/oz; silver ~$86/oz.
- Significant inflows into gold ETFs recorded in April.
Global gold prices may soften 1-2% over 2-4 weeks due to reduced Indian demand, with domestic consumption down 20-30%.
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Sector impact at a glance
- COMMODITY_GOLDmid
- COMMODITY_GOLDshort
- EM_MARKETSmid
- EM_MARKETSshort
