– Finance Minister Nirmala Sitharaman announced reduction in customs duty on gold and silver during Budget presentation
– Import duty on gold and silver reduced from 15% to 6%
– Gold prices fell to Rs 68,500 per 10 grams from Rs 72,838 on MCX
– Silver prices decreased to Rs 84,275 per kg from Rs 88,995
– Industry experts view the reduction positively, expecting increased demand and lower prices
– Geopolitical tensions could still impact market trends in the future for gold and silver
– Reduction in customs duty expected to benefit consumers and bullion industry, boost demand and satisfy market needs.