Gold prices surged sharply on Wednesday after the central government increased customs duties on precious metal imports. The price of 24-carat gold rose by ₹9,338 to ₹16,285.8 per gram, while 22-carat gold climbed ₹8,553.61 to ₹14,917.793 per gram.
Silver prices also saw a strong rise, increasing by ₹18,532 to ₹2,97,386 per kg.
In major cities, gold prices were recorded at ₹1,62,858 per 10 grams in Delhi, ₹1,64,357.02 per 10 grams in Chennai, ₹1,62,909.75 per 10 grams in Mumbai, and ₹1,64,189.09 per 10 grams in Kolkata.
The gold August 2026 MCX futures were trading at ₹166620.0 per 10 gm, up by ₹6.01 at the time of publishing.
Gold and silver prices are affected by various factors, including global demand, currency variations, interest rates, and government policies.
