Gold Prices Surge on Budget Day: 24-Carat Gold Up ₹320, Silver Jumps ₹15000 in a Week

• 24-carat gold increased by ₹320 and 22-carat gold by ₹300 in the last week.
• On Budget Day, February 1, 24-carat gold is ₹160730 per 10 grams in Delhi and ₹160580 in Mumbai.
• Silver prices surged by ₹15000 in a week, reaching ₹350000 per kilogram on February 1.
• Finance Minister Nirmala Sitharaman will present the Union Budget for the 9th consecutive time at 11 AM.
• The gems and jewelry sector demands reduced import duty, procedural reforms, and lower GST on gold and silver.

Why It Matters: Gold and silver prices have significantly risen ahead of the Union Budget, with the industry seeking reforms.