India raises gold and silver tariffs to 15% to curb imports and support rupee
Submitted by admin on Tue, 2026-05-12 20:05 Section: Daily DispatchesBy Rajendra Jadhav, Aditya Kalra, and Mayank Bhardwaj
Reuters
Tuesday, May 12, 2026
NEW DELHI -- India has raised import tariffs on gold and silver to 15% from 6%, government orders said, as part of efforts to curb overseas purchases of the metals and ease pressure on the country's foreign exchange reserves.
The higher duties could dampen demand in the world's second-largest consumer of precious metals, although they may help narrow India's trade deficit and support the rupee, one of Asia's worst-performing currencies.
Indian banks resume bullion imports after month-long halt over 3% levy, Reuters says
Submitted by admin on Tue, 2026-05-12 19:41 Section: Daily DispatchesBy Rajendra Jadhav
Reuters
Tuesday, May 12, 2026
MUMBAI -- Indian banks have resumed gold and silver imports after a hiatus that stretched for more than a month by agreeing to pay a 3% customs levy that earlier prompted lenders to halt shipments, trade and government sources told Reuters.
The resumption is expected to boost the country's gold imports, widen the trade deficit, and put more pressure on the rupee, which is among Asia's worst-performing currencies this year.
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GoldCore's Skoyles notes Indian government's hypocrisy on gold
Submitted by admin on Tue, 2026-05-12 13:28 Section: Daily Dispatches1:25p ET Tuesday, May 12, 2026
Dear Friend of GATA and Gold:
GoldCore's Jan Skoyles today notes the Indian government's hypocrisy in telling its people not to buy gold even as the Reserve Bank of India increasingly holds gold as a superior form of money, as the money issued by the reserve bank, the rupee, is quickly losing value, and as other central banks steadily have been acquiring more gold as well.
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Brien Lundin: Silver rings the bell
Submitted by admin on Mon, 2026-05-11 14:10 Section: Daily DispatchesBy Brien Lundin
Gold Newsletter / Golden Opportunities, Metairie, Louisiana
Monday, May 11, 2026
Something very interesting is happening in the metals and mining market.
As you know, the winds of war have been driving every asset market. Stocks, bonds and commodities (including gold and silver) have risen along with hopes for peace, while oil and the dollar have fallen when those hopes emerge.
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India's leader urges people to stop buying gold as Asia scrambles for energy
Submitted by admin on Sun, 2026-05-10 22:25 Section: Daily DispatchesFrom the Australian Broadcasting Corp., Sydney
Sunday, May 10, 2026
Indian Prime Minister Narendra Modi has appealed to the country's 1.4 billion people to work from home, avoid travel, and stop buying gold, as the Iran war continues to send energy costs soaring.
Modi today called for a return to work-from-home arrangements and online meetings, measures adopted during the COVID-19 pandemic.
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Trump muses vacantly again about whether gold remains in Fort Knox
Submitted by admin on Sun, 2026-05-10 15:04 Section: Daily DispatchesNo mention of leases, swaps, and other market interventions ... and no follow-up questions.
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Trump Still Wants to Visit Fort Knox to Confirm Gold Has Not Been Stolen
By Ryan King
New York Post
Sunday, May 10, 2026
President Trump believes this is his golden opportunity.
The president revealed that he's still eager to crack open Fort Knox and personally ensure that the nation's gold reserve -- valued at nearly $700 billion -- is still in the highly secure bullion depository following an uproar about it last year.
