The Union Budget for 2026-27 has been released, which has led to an immediate and substantial depreciation of gold and silver. Following the budget announcement, gold and silver triggered their trading circuit limits due to massive and immediate dumping. Most Importantly, India is a major importer of gold and silver. Therefore, it can be deduced that the depreciation of gold and silver has, and will continue to, impact the global markets significantly. $XAU , $XAG