New Delhi, May 13 -- The Ministry of Finance has updated the customs duty rates for various precious metals and jewellery findings from 6 per cent to 15 per cent, which comes into effect today. However, the Gold and Silver markets did not show any unusual movements in the hours leading up to the announcement.

Highlighting this, Nithin Kamath, Founder & CEO of Zerodha, hailed the Indian markets on Wednesday. "Just another reason why Indian markets, despite all their flaws, are far more tightly controlled in these grey zones than many Western markets," Kamath said on X.

He also noted the lack of volatility or suspicious volume shifts before the official government notification became public.

"The news about import duties on gold and silv...