Why gold’s Rs 10,000 spike after import duty increase is a one-off move

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Gold and silver prices staged a sharp comeback on Wednesday, with MCX futures for both metals surging nearly 6% in a single session after the government raised customs duty on precious metal imports. Gold prices jumped about Rs 9,600, while silver soared nearly Rs 17,000, marking one of the biggest one-day rallies in recent months amid lingering volatility from Middle East tensions and tariff uncertainty.