Gold and silver spike after import duty hike Investors may need a rethink fast

15% duty jump flips bullion sentiment overnight

Gold and silver surged on MCX after the Centre raised customs duty on precious metal imports to 15%, driving sharp gains in June gold futures and July silver futures. The move also comes as US consumer inflation rose, cooling hopes of an imminent Fed rate cut and adding volatility to global bullion sentiment. Investors now face a price shock that may not be short lived.