Gold jumps nearly Rs 9600 after import duty hike but may fade fast

Published on 13 May 2026

The surge is tied to one policy shock only

Gold and silver surged on Wednesday after the government increased customs duty on precious metal imports, with MCX futures jumping close to 6% in a day. Gold rose roughly Rs 9,600 and silver nearly Rs 17,000, one of the biggest rallies recently. But traders see it as a largely one-off move amid ongoing Middle East tensions and tariff uncertainty.

Gold surged about Rs 9,600 and silver nearly Rs 17,000
MCX futures for both metals jumped close to 6% in one session
The spike followed higher customs duty on precious metal imports
Analysts warn the move may be temporary due to broader volatility

#mcx futures #india markets #import duty #gold #silver

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Gold jumps nearly Rs 9600 after import duty hike but may fade fast

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