Gold and silver prices fell in India on May 21 amid weaker global bullion trends and cautious investor sentiment. Rising US Treasury yields, geopolitical developments, and higher import duties also impacted prices. In Mumbai, 24K gold traded at ₹1,58,360 per 10 grams, while silver prices declined on the MCX.
Days after Prime Minister Narendra Modi appealed to citizens to avoid buying gold for a year, the Centre has announced a major increase in import duty on gold and silver.
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