Gold Price Today –
14 May 2026
India’s government hiked gold & silver import duty from 6% to 15% on May 13 — one of the sharpest policy moves in years. Result: 24K gold jumped ₹1,391/gram in a single day, MCX hit ₹1.64 lakh, and today’s rate stands at ₹16,201/gram. Meanwhile global spot gold is under pressure at $4,686/oz after hot US inflation data ruled out any Fed rate cut in 2026.
India Hiked Gold & Silver Import Duty to 15% — What It Means for You
The Government of India raised the customs duty on gold and silver imports from 6% to 15% on May 13, 2026 — the biggest single policy shock to Indian bullion markets in years. Platinum duty was also raised, from 6.4% to 15.4%. The move is designed to compress India’s widening current account deficit, which has ballooned due to soaring crude oil import costs from the US-Iran conflict. The result was an immediate, dramatic price spike in domestic gold and silver.
- Gold Rate Today India — ₹/gram & ₹/10g (14 May 2026)
- City-Wise 24K, 22K & 18K Gold Rates
- MCX Gold Rate Today — Support & Resistance
- International Gold Spot Price (USD)
- Gold Price This Week — Day-by-Day Recap
- Import Duty Hike — Full Impact Analysis
- Top News Moving Gold Today
- Gold Price Forecast 2026
- Best Ways to Buy Gold in India Now
- Frequently Asked Questions (FAQ)
Aaj ka sone ka bhav — 14 May 2026 marks a watershed moment for Indian gold buyers. India’s sudden import duty hike to 15% has made domestic gold ₹1,000+ per gram more expensive in just two days. Today’s 24K gold price is ₹16,201/gram (₹1,62,010/10g) — the highest domestic rate in months. Simultaneously, global spot gold is under pressure at $4,686/oz after hotter-than-expected US inflation data (CPI 3.8%, PPI surging) all but eliminated any chance of a Fed rate cut this year. It is a tale of two forces pulling in opposite directions.
💰 Gold Rate Today India — 14 May 2026
Per Goodreturns data as of 14 May 2026: 24K gold is ₹16,201 per gram (₹1,62,010 per 10 grams), 22K gold is ₹14,851 per gram (₹1,48,510 per 10 grams), and 18K gold is ₹12,151 per gram (₹1,21,510 per 10 grams). These are the highest domestic gold rates since the first quarter of 2026 — driven almost entirely by the import duty hike from 6% to 15% announced on May 13. The previous day (May 13), 24K gold hit an extraordinary intraday high of ₹16,789/gram before settling lower.
Rates above are indicative and exclude 3% GST and jeweller making charges. After the duty hike, total purchase cost for jewellery buyers is now significantly higher. Geojit’s Hareesh V recommends: “For investors, the preferred route remains digital gold or gold ETFs — these avoid storage costs, smuggling-driven distortions, and the full impact of physical import duty premiums.” USD/INR today: ₹95.67.
🏙️ City-Wise Gold Rate Today — 14 May 2026
| City | 24K (₹/10g) | 22K (₹/10g) | 18K (₹/10g) | vs. May 12 |
|---|---|---|---|---|
| Delhi | ₹1,62,010 | ₹1,48,510 | ₹1,21,510 | +₹9,880 ▲ |
| Mumbai | ₹1,62,010 | ₹1,48,510 | ₹1,21,510 | +₹9,880 ▲ |
| Chennai | ₹1,63,710 | ₹1,50,070 | ₹1,22,780 | +₹9,340 ▲ |
| Kolkata | ₹1,62,010 | ₹1,48,510 | ₹1,21,510 | +₹9,880 ▲ |
| Bengaluru | ₹1,62,000 | ₹1,48,500 | ₹1,21,500 | +₹9,870 ▲ |
| Hyderabad | ₹1,62,010 | ₹1,48,510 | ₹1,21,510 | +₹9,880 ▲ |
| Ahmedabad | ₹1,62,010 | ₹1,48,510 | ₹1,21,510 | +₹9,880 ▲ |
| Pune | ₹1,62,010 | ₹1,48,510 | ₹1,21,510 | +₹9,880 ▲ |
| Jaipur | ₹1,62,010 | ₹1,48,510 | ₹1,21,510 | +₹9,880 ▲ |
| Lucknow | ₹1,62,010 | ₹1,48,510 | ₹1,21,510 | +₹9,880 ▲ |
| Surat | ₹1,62,010 | ₹1,48,510 | ₹1,21,510 | +₹9,880 ▲ |
| Patna | ₹1,62,010 | ₹1,48,510 | ₹1,21,510 | +₹9,880 ▲ |
*Indicative retail rates from Goodreturns as of 14 May 2026. Exclude 3% GST and making charges. The ₹9,000–₹10,000 per 10g surge since May 12 is almost entirely driven by the import duty hike. Chennai commands a traditional ₹1,700 premium over national rates. Verify with your jeweller.
📊 MCX Gold Rate Today — Support & Resistance
MCX was the epicentre of the May 13 drama. MCX gold skyrocketed ₹11,055 in early trade to hit above ₹1.64 lakh per 10 grams — the highest MCX level in months — before correcting. By session close, MCX gold (June contract) was up ₹8,800 or ~6%, settling around ₹1,62,390 per 10 grams. Today, May 14, gold trades in a consolidation range as the import duty euphoria meets global pressure from rate-hike fears.
On May 13, MCX gold surged ₹8,800 (+6%) — one of its biggest single-day moves in 2026. Investing.com currently rates XAU/USD as a technical Buy, with the 52-week range at $3,120.52–$5,595.46. The LiteFinance forecast for May 14 puts gold in the $4,645.91–$4,760.74 range. India’s duty-driven premium means MCX will trade at a sustained markup over international spot for the foreseeable future.
🌍 International Gold Spot Price — 14 May 2026
Globally, gold is under pressure. Spot gold (XAU/USD) fell to $4,696.53 on May 13, down 0.39% — the second consecutive session of losses. Gold is trading at $4,686–$4,692 as of early May 14 (Investing.com bid: $4,692.14). The metal has been weighed down by two back-to-back inflation shocks: US CPI at 3.8% on May 12 and US PPI surging on May 13 — both hotter than expected. Investors have now fully priced out any Fed rate cut in 2026 and are increasingly pricing in the possibility of a rate hike before year-end.
| Metric | Value | Context |
|---|---|---|
| Spot Price (May 13, 2026) | $4,686–$4,697/oz | ▼ −0.39% / 2nd day down |
| Fortune (May 12) | $4,707/oz | −$10 from prior day |
| LiteFinance May 14 range | $4,645–$4,760/oz | Either direction possible |
| 1-Month Change | −3.00% | Trading Economics |
| Year-on-Year Change | +47.42% | TradingView: +45.62% |
| YTD (Year-to-date) | +8.98% | TradingView data |
| US CPI April 2026 | 3.8% (highest since May 2023) | Above 3.7% forecast |
| June Fed Rate Cut prob. | 4.2% | 95.8% expect no cut |
| Crude Oil (WTI) | $107.53/bbl | Surging 3rd straight session |
| All-Time High | $5,595.46/oz | Investing.com 52-week high |
“Gold traded below $4,700 an ounce on Thursday after sliding for two straight sessions. Investors have now fully ruled out a Fed rate cut this year, while increasingly pricing in a greater likelihood of another rate hike before year-end.” — Trading Economics, May 14, 2026
📆 Gold Price This Week — Day-by-Day
🇮🇳 Import Duty Hike to 15% — Full Impact Analysis
The import duty hike from 6% to 15% is the single biggest domestic gold market development of 2026. Here is a complete breakdown of what it means for every type of Indian gold stakeholder:
Why Did the Government Hike the Duty?
Three converging pressures forced the government’s hand. First, India’s current account deficit (CAD) has widened sharply as crude oil import bills surged due to the US-Iran conflict pushing WTI above $107/bbl. Second, the rupee has weakened to ₹95.67/USD, adding to import costs. Third, PM Modi’s appeal to avoid gold purchases clearly did not slow demand sufficiently — so the government moved to a more forceful fiscal tool: dramatically raising the cost of importing bullion.
Expert Reactions
Impact on Different Buyer Categories
Immediate and direct price increase. 22K gold now ₹1,48,510/10g vs ₹1,39,650 a week ago — a ₹8,860 increase per 10g. Wedding and festive purchases become significantly more expensive. Consider 18K or 14K alternatives recommended by GJEPC.
Gold ETFs and SGBs are backed by international gold prices, not domestic import-duty prices. The duty hike has minimal direct impact on ETF NAV — which tracks international spot price (~$4,686/oz) converted to INR. ETFs remain the most cost-efficient gold investment option.
MCX gold hit ₹1.64 lakh intraday — Tanishq, Malabar, Kalyan, Joyalukkas all updated prices immediately. Existing inventory was purchased at lower duty rates, creating windfall gains. New stock purchases face the full 15% duty, compressing margins until prices adjust fully.
India faced a smuggling surge the last time duty was at 15% (before it was cut to curb illicit imports). Geojit analysts warn the same pattern may emerge now. Buyers should only purchase from BIS hallmark-certified, HUID-stamped stores to avoid counterfeit or smuggled gold.
Hareesh V of Geojit forecasts the duty hike will “temporarily dampen physical demand.” However, India’s 10–12 million annual weddings embed structural demand that is price-inelastic in the short term. The medium-term impact depends on whether the duty is maintained or reversed.
The stated goal is to reduce gold import volumes to shrink India’s current account deficit and support the rupee. If successful, a stronger rupee would partially offset the duty hike in price terms. If the rupee strengthens to ₹92/USD from ₹95.67, domestic gold prices could ease by ₹500–₹700/gram despite the duty.
📰 Top News Moving Gold Today
The Government of India announced an immediate hike in customs duty on gold and silver from 6% to 15%, effective May 13, 2026. Platinum duty was also raised to 15.4%. MCX gold skyrocketed ₹11,055 intraday to hit above ₹1.64 lakh per 10g, while MCX silver zoomed ₹22,400 to reclaim ₹3 lakh per kg. The move follows PM Modi’s earlier appeal and escalating pressure on India’s current account deficit from surging crude oil costs.
US consumer inflation accelerated to 3.8% in April — above the 3.7% forecast and the highest since May 2023 — as escalating energy costs from the Middle East conflict pushed prices higher. Investors have now fully priced out a Fed rate cut in 2026, with 95.8% expecting rates to remain unchanged. The higher-for-longer rate environment pressures gold internationally, even as India’s duty hike lifts domestic prices.
US producer prices surged more-than-expected in April, marking their biggest gain since early 2022, driven by higher trade and energy costs tied to the Iran war. This followed Tuesday’s hot CPI, adding to the Fed rate-hike narrative and weighing on global gold for the second straight session. Spot gold fell to $4,680 on Wednesday.
US President Trump is visiting China for a bilateral summit — markets are monitoring for signs of progress on the fragile US-China trade truce and any new developments in the Iran conflict. Meanwhile, US military officials are briefing Trump on potential military operations against Iran, per LiteFinance. Any escalation would reignite gold safe-haven demand sharply.
🔮 Gold Price Forecast 2026 — Post Duty-Hike Outlook
The import duty hike has introduced a permanent new premium layer to Indian gold prices. Even if international spot gold stabilises or falls, India’s domestic price floor has been structurally raised. Here is the updated outlook:
| Institution | Global Target (USD) | India 24K (₹/10g est.) | Timeframe |
|---|---|---|---|
| Goldman Sachs | $5,400/oz | ~₹1,87,000–₹1,92,000 | End 2026 |
| LiteFinance | $5,400–$6,000/oz | ~₹1,87,000–₹2,08,000 | H2 2026 |
| LiteFinance May | $4,380–$5,100/oz | ~₹1,52,000–₹1,77,000 | This month |
| LiteFinance May 14 | $4,645–$4,760/oz | ~₹1,61,000–₹1,65,000 | Today’s range |
| LongForecast | Up to $6,874/oz | ~₹2,38,000+ | 2026 peak |
| Bear case (global) | $4,000–$4,200/oz | ~₹1,39,000–₹1,46,000 | Rate hike + peace deal |
*India estimates now calculated at 15% duty + 3% GST base at USD/INR ₹95.67. All forecasts are estimates, not guarantees. Duty-inclusive prices are significantly higher than pre-May 13 estimates.
Before the duty hike, India’s domestic gold premium over international spot was approximately 15–18%. After the hike to 15% duty, this premium has expanded to roughly 25–30%. This means even if global spot gold falls back to $4,500/oz, India’s 24K rate would still be approximately ₹1,56,000–₹1,60,000 per 10 grams — well above pre-duty-hike levels. Indian gold prices have been structurally reset higher.
💼 Best Ways to Buy Gold in India — After the Duty Hike
The duty hike changes the calculus for Indian gold buyers. Here is the updated priority order:
- Sovereign Gold Bonds (SGBs) — Best Choice, Unaffected by Duty Hike — SGBs are issued by RBI at prices linked to international gold rates (IBJA average), not domestic import-duty-inflated prices. You earn 2.5% annual interest + gold price upside. Capital gains fully tax-exempt at maturity. The duty hike does NOT affect SGB pricing. This is the #1 recommended option post-duty hike.
- Gold ETFs (NSE/BSE) — Duty Minimal Impact — HDFC Gold ETF, SBI Gold ETF, Nippon India Gold ETF track LBMA/IBJA international prices. The duty hike has a minimal direct impact on ETF NAV. Zero making charges. Buy/sell anytime on Zerodha, Groww, Upstox. Ideal for SIP investors accumulating gold monthly.
- Gold Mutual Funds — No Demat Needed — Axis Gold Fund, ICICI Pru Gold ETF FOF, Kotak Gold Fund invest in Gold ETFs. Monthly SIP available. Returns mirror ETF performance minus a small expense ratio. Good for investors without demat accounts.
- Physical Gold (Coins & Bars) — Now More Expensive — If physical ownership is your priority, buy only BIS Hallmark HUID-certified bars from MMTC-PAMP, SBI, HDFC, or India Post. Be aware that physical gold now carries the full 15% import duty premium. Beware of grey-market or unverified sellers who may sell smuggled gold without proper documentation.
- Consider 18K or 14K for Jewellery — GJEPC is actively recommending lower-carat gold as an alternative to 24K/22K given the duty hike. 18K and 14K jewellery is significantly cheaper and still BIS hallmark certified. Also explore old-gold exchange programs at Tanishq, Malabar, and Kalyan — exchange your old gold for new jewellery at updated prices without paying fresh import duty.
❓ Frequently Asked Questions
On 14 May 2026, 24K gold is ₹16,201 per gram (₹1,62,010/10g), 22K is ₹14,851/gram (₹1,48,510/10g), and 18K is ₹12,151/gram (₹1,21,510/10g), per Goodreturns. These are indicative rates excluding 3% GST and making charges. Prices are up ₹988/gram since May 12 due to the import duty hike.
Aaj 14 May 2026 ko 24 carat sone ka bhav ₹16,201 per gram aur ₹1,62,010 per 10 gram hai. 22 carat gold ₹14,851 per gram (₹1,48,510/10g) hai. Import duty 6% se 15% hone ke baad daam mein ek hi din mein ₹1,391/gram ki badi uchal aayi. Ye rates indicative hain — 3% GST aur making charges alag lagte hain.
India raised import duty on gold and silver from 6% to 15% on May 13, 2026, to: (1) reduce gold import volumes and shrink India’s widening current account deficit; (2) support the weakening rupee (₹95.67/USD); and (3) align with PM Modi’s earlier appeal to reduce discretionary gold spending. The backdrop is surging crude oil import costs from the US-Iran war, which has put severe pressure on India’s external account.
For jewellery purchases: if your need is immediate (wedding, festival), use the old-gold exchange route at major jewellers to avoid paying full fresh import duty premiums. Consider 18K/14K alternatives which are cheaper. For investment: pivot to SGBs or Gold ETFs — these are not affected by import duty and track international gold prices, which are currently lower than India’s duty-inflated domestic prices.
International spot gold (XAU/USD) is trading at approximately $4,686–$4,692 per troy ounce on 14 May 2026 — down 0.39% from the previous session. Gold has fallen for two straight days after US CPI (3.8%) and PPI data reinforced Fed rate-hike expectations. LiteFinance projects today’s range at $4,645–$4,760.
The import duty hike has minimal direct impact on Gold ETFs and Sovereign Gold Bonds. Gold ETF NAVs track LBMA/IBJA international gold prices, not the domestic import-duty-inflated retail price. SGBs are issued at IBJA 3-day average prices. This means ETF and SGB investors are effectively accessing gold at the lower international spot price (~$4,686/oz) rather than the duty-inclusive domestic price (₹16,201/gram). This makes ETFs and SGBs significantly more cost-efficient than physical gold purchases today.
The duty hike has created a structurally higher price floor for India’s domestic gold. Even if global spot gold falls to $4,500/oz, India’s 24K price would remain around ₹1,56,000–₹1,60,000/10g at the new 15% duty rate. For prices to return to pre-hike levels (₹1,52,000/10g), either: (1) the duty needs to be reversed, (2) the rupee needs to strengthen significantly to ₹88–₹90/USD, or (3) both happen simultaneously. Neither is expected in the near term.
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