Gold, Silver Prices Surge: What's Next for Bullion Market?

• Gold futures (April expiry) on MCX recovered over 9% to Rs 1,49,920 per 10 grams after an initial crash on February 2.
• Silver futures also saw recovery from day's lows but remained in the red.
• Previous session saw MCX silver futures slump 9% and April gold futures fall 3%.
• Gold and silver ETFs rebounded up to 10% after an earlier 20% tumble, driven by profit-taking and unwinding of leveraged positions.
• Recent Budget changes to Sovereign Gold Bonds (SGBs) make capital gains taxable for secondary market purchases or early exits from FY 2026-27, impacting gold-linked investments.

Why It Matters: Gold and silver prices showed significant recovery after a crash, but tax changes and a strong dollar pose future challenges.