Business
Indian gold, silver futures jump after India raises import tariffs
India raised import tariffs on gold and silver to 15% from 6%, government orders said on Wednesday
Saleswomen show gold ornaments and jewellery to customers for purchase inside a Senco Gold & Diamonds jewellery showroom in Kolkata, India, January 28, 2026. REUTERS/Sahiba Chawdhary/File Photo
Mumbai: Indian gold and silver futures jumped more than 7% in early trade on Wednesday after New Delhi raised import tariffs on the precious metals.
Domestic gold futures jumped 7.2% to 164,497 rupees per 10 grams, while silver futures surged 8% to 301,429 rupees per kg.
India raised import tariffs on gold and silver to 15% from 6%, government orders said on Wednesday, as part of efforts to curb overseas purchases of the metals and ease pressure on the country's foreign exchange reserves.