The Government of India has increased the total import duty on gold and silver to 15%, effective May 13, 2026, raising it from the earlier 6% structure, according to official notification.

The revised duty structure is expected to make imported gold and silver more expensive in the domestic market, potentially impacting jewellery prices and overall demand in the short term.

Market experts said the hike could lead to volatility in bullion prices and may also influence consumer buying patterns, especially during the ongoing wedding and festive demand cycles.

Further details on the revised duty breakup and policy rationale are awaited from the government.