Gold and Silver Prices Crash Post-Budget: Silver Down ₹23,900, Gold Cheaper by ₹5,700

• Gold and silver prices saw a significant drop the day after the budget presentation, with gold falling by 3% and silver by 9%.
• On MCX, February delivery gold fell by ₹5,719 (4.02%) to ₹1,36,498 per 10 grams, while March delivery silver dropped by ₹23,908 (9%) to ₹2,41,744 per kg.
• Silver prices, including taxes, fell by ₹72,500 (18.85%) to ₹3,12,000 per kg, marking the second consecutive day of sharp decline.
• Gold prices, including taxes, declined by ₹3,500 (2.07%) to ₹1,65,500 per 10 grams.
• The fall is attributed to a strengthening US dollar, potential interest rate changes by the Fed, and no changes in customs duty on gold and silver imports in the budget.

Why It Matters: Gold and silver prices plummeted post-budget due to global cues and domestic policy, offering relief to buyers.