New Delhi: After reducing the custom duty on gold and silver in the budget, there has been a big impact on the price of gold and silver. On the day of the budget i.e. February 1, there was a steep fall in the prices of gold, while silver prices had strengthened. Today on Tuesday, gold started trading with a fall. Today, the price of gold on gold MCX has dropped by about 0.6 percent to Rs 48,438 per 10 grams.

Apart from this, a decline of 2.2 percent has been recorded in silver, after which silver has reached the level of Rs 72,009 per kg. The futures trade in March for silver has been recorded at Rs 1614.00. Apart from this, if we talk about the international market, there is a decline here too. Today, gold is trading in the US at a rate of $ 1,856.34 an ounce, falling by $ 3.10. At the same time, silver is trading at a level of $ 28.42 with a fall of $ 0.28.

Union Finance Minister Nirmala Sitharaman has announced a huge cut in import duty on gold and silver in his budget speech. There is a 5 percent reduction in import duty on gold and silver. At this time, 12.5 percent of import duty has to be paid on gold and silver. Only 7.5 percent of import duty will have to be paid after deducting 5 percent. This will see the fall in the prices of gold and silver.

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