Gold and silver ETFs jumped up to 7% after the government raised import duties on precious metals, triggering a sharp repricing in India's domestic bullion market
The government imposed a 10 per cent basic customs duty along with a 5 per cent Agriculture Infrastructure and Development Cess (AIDC), aiming to curb imports of the previous metals
MCX Silver opened with a slight gap up and is trading within the ₹280,000-₹282,000 zone, sustaining well above the ascending trendline as bullish momentum builds
Akshaya Tritiya 2026 Gold Outlook: Analyst at Kotak Securities recommends Gold allocation up to 15 per cent in portfolio, and suggests adding Silver too on this auspicious occasion.
In the international market, spot gold was up 2.5 per cent at $4,819.25 per ounce. Similarly, spot silver also jumped 5.5 per cent to $76.91 per ounce
Safe haven demand for gold during escalating geopolitical tensions due to the raging Iran war has not been strong enough to overcome the dollar strength and rate pressure
On Thursday, Brent crude futures climbed $3.69, or 3.44 per cent, to $111.07 per barrel. The US West Texas Intermediate crude rose $2.29, or 2.38 per cent, to $98.61 per barrel