Gold and silver prices opened significantly higher on the Multi Commodity Exchange (MCX) following a substantial increase in import duties by the Indian government. Gold futures for June 2026 delivery surged by ₹9,206 or 6%, reaching ₹1.62 lakh per 10 grams, while silver futures for July 2026 delivery jumped by ₹16,743 or 6%, hitting ₹2,95,805 per kg. The customs duty on these precious metals has been raised to 15%, comprising a 10% basic customs duty and a 5% Agriculture Infrastructure and Development Cess (AIDC). This change has led to increased volatility in the market, with gold and silver prices reacting sharply. In the international market, spot gold fell by 0.4% to $4,695.99 per ounce, while U.S. gold futures rose by 0.4% to $4,705.30. Analysts suggest that traders holding long positions should consider booking profits near target levels as both metals exhibit high volatility.