The Budget 2021 announcement by Finance Minister Nirmala Sitharaman slashing the import duty on Gold and Silver has started reflecting in the jewellery markets, Expert Anuj Gupta, Deputy Vice President, Commodity and Currency Research at Angel Broking said. He said that impact has been immediate as Gold prices have dropped significantly despite the price in international market holding up. He said that it is the right time to invest in Gold and Silver.Â
Why it is the right time to invest in GoldÂ
The MCX Gold has corrected by almost Rs 1000 or around 3 percent from the time before announcement till now. At 11:20 am, MCX Gold was down by Rs 350 or by 0.7 per cent from the Monday closing price, trading at Rs 48,371 per 10 gm.Â