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Commodity News Details
Gold bounces in intraday moves after FM kept rates on customs duty unchanged for precious metals
01-Feb-2026 17:22
An impressive intraday rebound was seen in MCX Gold today as no change in import duty pushed up the metal despite volatile global undertone. MCX Gold futures moved up from lows around Rs 139000 per 10 grams and closed at Rs 148104 per 10 grams, up 0.24% on the day. The Budget 2026 has kept rates on customs duty unchanged for import of gold and silver. Currently, import of gold in all forms attracts a 6 percent duty, including 5 percent basic customs duty (BCD) and 1 percent agriculture infrastructure and development cess (AIDC). COMEX Gold prices witnessed a sharp correction on Friday, sliding more than 11% to settle near $4,907 per ounce, as aggressive profit-taking followed higher margin requirements announced by the CME Group. The sell-off spread across global markets, including COMEX and MCX, as leveraged traders rushed to reduce exposure. The metal slumped to one and half week low following this tumble.

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