Budget 2021: Finance Minister Nirmala Sitharaman announced that the custom duty on gold and silver will be rationalised to bring them closer to previous levels. The move will reduce the prices of the precious metals.
Silver prices spiked after retail sites were overwhelmed with demand for bars and coins at the weekend. Comments on Reddit forum r/WallStreetBets suggested people buy exchange-traded funds linked to the metal because prices have been kept artificially low.
RBI Meeting : Investors in India’s $950 billion sovereign bond market are on tenterhooks this week as they await another huge borrowing plan from the government and central bank guidance on measures to support the market.
In the week before the union budget, Indian equities marked a six-day losing streak after hitting an all-time high on Jan. 21.