What triggered the sharp rally in gold and silver ETFs and MCX bullion prices?

Gold and silver ETFs surged up to 15% on Wednesday after the government raised customs duties on precious metal imports to 15%, triggering a sharp rally in MCX bullion prices. Gold futures crossed Rs 1.63 lakh per 10 grams, while silver prices moved close to Rs 3 lakh per kilogram, boosting investor interest in bullion-backed ETFs.

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