Gold and silver ETFs jumped up to 15% on Wednesday as prices of the precious metals opened sharply higher on the Multi-Commodity Exchange (MCX). The rally came after the central government raised customs duties on gold and silver imports, with the revised rates taking effect from midnight.
Among the 25 gold ETFs, Quantum Gold Fund led the surge, jumping nearly 15% to hit the day’s high of Rs 143.37 compared with the previous close of Rs 124.90. Tata Gold ETF rose 12%, while Zerodha Gold ETF gained around 9%.
