Gold prices surged to an all-time high on Saturday, reaching ₹83,360 per 10 grams in futures trading, reflecting global market trends. According to PTI, gold contracts for April delivery on the Multi Commodity Exchange (MCX) initially touched this record level before settling at ₹82,233 per 10 grams, marking an increase of ₹1,127 or 1.35%. The open interest for gold stood at 16,273 lots, indicating strong investor participation.
Meanwhile, silver prices also witnessed a jump, increasing by ₹1,150 to ₹94,150 per kg from the previous closing price of ₹93,000 per kg. However, silver later saw a marginal dip of ₹73, settling at ₹93,255 per kg compared to the last close of ₹93,328 per kg.
Union Budget 2025: Major Announcements on Taxation
Union Finance Minister Nirmala Sitharaman presented the Union Budget 2025-26 on Saturday, outlining an expenditure of ₹50,65,345 crore, reflecting a 7.4% increase over the current fiscal year.
In a significant move, Sitharaman announced that individuals earning up to ₹12 lakh annually will not be required to pay income tax under the revised tax regime. The new income tax slab structure was unveiled as follows:
- Up to ₹4 lakh – Nil
- ₹4 lakh to ₹8 lakh – 5%
- ₹8 lakh to ₹12 lakh – 10%
- ₹12 lakh to ₹16 lakh – 15%
- ₹16 lakh to ₹20 lakh – 20%
- ₹20 lakh to ₹24 lakh – 25%
- Above ₹24 lakh – 30%
Sitharaman stated that taxpayers earning up to ₹12 lakh annually, except those with capital gains, will not be liable to pay income tax, benefiting from slab rate reductions and rebates.
Additionally, she announced that the government will introduce a new Income Tax (I-T) bill in Parliament next week, aiming to revamp tax structures and simplify compliance for taxpayers.
Market & Economic Impact
The rise in gold and silver prices aligns with the government’s budgetary policies and global economic trends. Investors are closely watching the market as taxation reforms and economic measures unfold, influencing commodity trading and investment strategies.
ALSO READ: Union Budget 2025: What’s Getting Cheaper & Costlier? Key Items Revealed