Suraj's Post

🚨 Gold and silver just got more expensive in India The government has sharply increased import duty on precious metals, taking gold and silver duty from 6% to 15%. 📌 What changed: • Gold duty → 6% to 15% • Silver duty → 6% to 15% • Platinum duty → 6.4% to 15.4% This is a major reversal after last year’s duty reduction. Why is India doing this? Because India imports most of its gold using US dollars. At a time when oil prices, shipping risks and global tensions are rising, the government wants to reduce unnecessary forex outflow. The focus is shifting toward protecting reserves for critical imports like crude oil, fertilisers, defence and industrial needs. 📊 Immediate impact: • Domestic gold and silver prices jumped • Jewellery may become more expensive • Wedding purchases could cost more • Demand may temporarily slow This move is bigger than bullion prices. It shows India is prioritising economic stability and reserve management during global uncertainty.

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This post was published on 13th May, 2026 by Suraj on his Instagram handle "@myfintaxofficial (MYFINTAX | Finance & Tax Educator | CA Suraj Soni)". Suraj has total 241.1K followers on Instagram and has a total of 3.1K post. Suraj receives an average engagement rate of 0.94% per post on Instagram. This post has received 6 comments which are lower than the average comments that Suraj gets. Overall the engagement rate for this post was lower than the average for the profile.