New Delhi, Nov. 18 -- The festive buying, coupled with political uncertainty globally, led to a price surge in gold (66%) and silver (55%) around Dhanteras.

While many investors rushed in to accumulate more of these precious metals due to the conviction in prices, others wanted to book profits amid the astronomical rise.

Indian households sold gold and silver at jewellery shops, while savvy investors who had invested in electronic forms such as exchange-traded funds (ETFs) or Sovereign Gold Bonds (SGBs) took to the stock exchange route, where SBGs worth Rs.16.97 crore were traded on the stock exchanges.

However, precious metals, when sold in physical, bonds or other electronic form, are saddled with taxes based on when and how one sell...