Gold price on the day of Budget 2021 declined to Rs 47,960 per 10 gm from Rs 48,800, whereas Silver price soared to Rs 69,800 per kg
India Gold Multi Commodity Exchange (MCX) April Futures rose on the Budget Day tracking a positive trend seen in the international spot prices. Silver March Futures rallied by about 6 percent.
On the MCX, February April contracts were trading higher by 0.53 percent at Rs 49,597 for 10 grams during the morning session. March silver was trading 6 percent higher at Rs 73,888 a kilogram.
Analysts are of the view that Gold prices are likely to remain volatile on Budget Day and any dip will be a buying opportunity. It is expected that the government can raise import duty on both the precious metals to support investment in the sovereign gold bonds and exchange-traded gold funds.
Gold and silver prices settled on a positive note in the international markets on Friday. Gold April futures contract settled at USD 1,849.60 per troy ounce while Silver March futures contract settled at USD 27.06 per troy ounce.
Weekend, Indian share markets also settled on a positive note. Gold and silver prices rebound again on Friday amid weakness in the dollar index and selloff in the global equities.
Petrol-diesel prices remain unchanged today
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