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 and silver prices in India slid for the second straight session on 24 April 2026. A firmer US dollar and delayed Fed rate-cut expectations weighed on MCX gold and silver, while global COMEX prices also retreated. Surprisingly, even the Strait of Hormuz tension failed to trigger a safe-haven bounce, leaving bullion trading softer across major cities.
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