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Business Desk- Gold-Silver ETF Hike: The effect of the Central Government’s decision to increase the custom duty on the import of gold and silver was immediately visible in the market. As the new rates came into effect from midnight, precious metal prices rose sharply on MCX, leading to a massive rise of up to 15% in gold and silver ETFs.

Among the 25 gold ETFs, Quantum Gold Fund saw the biggest rise. It rose almost 15% to the day’s high of 143.37, while its previous closing price was 124.90. Tata Gold ETF gained 12%, while Zerodha Gold ETF gained nearly 9%.

Apart from this, three gold ETFs recorded a gain of 8%, while the remaining 19 ETFs saw a rise of 4% to 7%. Strong buying was also seen in silver ETFs. The highest gains were recorded in HDFC Silver ETF and UTI Silver ETF. About five silver ETFs gained up to 9%, while the rest rose between 6% and 9%.

Investors need not panic

AMFI-registered mutual fund distributor Abhishek Bhilwaria told ET that small investors should avoid taking panic decisions amid the current market volatility. Macroeconomic pressure remains on the market.

However, despite this, India’s external economic position remains strong. Therefore, investors should avoid taking investment decisions out of greed or panic-selling. They can continue investing as per their financial goals.

Benefits can be availed through SIPs

According to Abhishek, instead of frequent visits to the market, investors should continue their investments through SIPs i.e. Systematic Investment Plan. He believes that consistent investing can help convert current market fluctuations into long-term gains.

Silver for July 2026 delivery rose 6%

A tremendous rise was recorded in the prices of gold and silver in the domestic market. On MCX, the futures price of silver for July 2026 delivery increased by Rs 16,743, or about 6%, to Rs 295,805 per kg. Meanwhile, gold futures for delivery in June 2026 rose by Rs 9,206 or 6% to Rs 162,648 per 10 grams. In the last trading session, silver closed with gains, while gold saw a slight decline.

Government increased import duty

The government has increased the total custom duty on import of gold and silver from 6% to 15%. Under the new system, basic custom duty of 10% and Agriculture Infrastructure and Development Cess (AIDC) of 5% have been imposed. As a result, the effective import tax on both these precious metals has increased to 15%. After this decision, a huge jump in prices was seen in the domestic market.

Mixed trends in international markets

Different trends were seen in the prices of gold and silver in the global markets. Spot gold fell 0.4% to $4,695.99 an ounce, while US gold futures for June delivery rose 0.4% to $4,705.30 an ounce.

On the other hand, spot silver rose 0.2% to $86.71 an ounce. During trading, silver also touched its highest level since March 11. Meanwhile, platinum fell 0.8% to $2,109.53 an ounce, and palladium fell 0.2% to $1,487.47 an ounce.