Gold Rate Today Live Updates, 13th May 2026: India’s gold market is witnessing a major policy shock after the government sharply raised customs duties on gold, silver and platinum imports as part of emergency measures aimed at protecting the country’s foreign exchange reserves during the ongoing West Asia crisis.
The Centre has increased the effective import duty on gold and silver to 15% from 6%, while platinum imports will now attract a 15.4% levy. The revised structure includes a 10% basic customs duty and a 5% Agriculture Infrastructure and Development Cess (AIDC), significantly raising the cost of importing precious metals into India.
The decision comes at a time when global bullion prices are already soaring amid geopolitical uncertainty, volatile crude oil markets and fears of prolonged conflict in West Asia. Since India imports nearly all the gold it consumes, the higher duties are expected to directly influence domestic gold prices, jewellery rates and investment demand.
Prime Minister Narendra Modi has also appealed to citizens to avoid buying gold for a year to help conserve foreign exchange reserves — a rare public intervention that underlines the seriousness of the economic situation.
While the government hopes the move will curb non-essential imports, reduce the trade deficit and support the rupee, industry experts warn it could also revive gold smuggling networks that had weakened after tariff cuts in 2024.
Stay tuned for the latest gold rate updates, bullion market reaction, city-wise prices, expert analysis and all key developments shaping India’s precious metals market today.
