Gold, Silver Prices Today Fall After Budget 2026 Volatility

Gold and Silver Prices Today: Gold Falls Sharply After Budget Day Volatility

Gold and silver prices witnessed sharp fluctuations on Sunday following heavy selling pressure after the Union Budget 2026. On the Multi Commodity Exchange (MCX), 24-carat gold dropped to ₹1,36,185 per 10 grams, slipping significantly from its opening level of ₹1,46,800 per 10 grams.

The steep decline highlights strong volatility in the precious metals market, with traders booking profits after recent record highs.

Gold Rates in Major Cities

In leading metro cities such as Delhi, Mumbai, Bengaluru, and Kolkata, gold prices remained close to ₹1,69,300 per 10 grams. Chennai recorded the highest rate, where 24K gold touched ₹1,73,010 per 10 grams.

The latest prices come after gold reportedly fell by nearly ₹3,500 (2.07%) in the previous session, settling around ₹1,65,500 per 10 grams, inclusive of taxes.

Silver Prices Remain Stable

Silver prices stayed mostly steady with a marginal rise compared to Saturday. Chennai reported the highest silver rate at ₹4,18,900 per kg, while Delhi, Mumbai, and Pune recorded prices close to ₹4,10,000 per kg.

City-Wise Gold and Silver Prices Today
City    24K Gold (10g)    Silver (1kg)
Mumbai    ₹1,69,300    ₹4,10,900
Delhi    ₹1,69,470    ₹4,11,900
Kolkata    ₹1,69,310    ₹4,06,900
Bengaluru    ₹1,69,300    ₹4,05,900
Chennai    ₹1,73,010    ₹4,18,900
Pune    ₹1,69,350    ₹4,12,900
Surat    ₹1,69,300    ₹4,13,900
Why Are Gold and Silver Prices Falling?

On Friday, both gold and silver witnessed a major correction. Gold of 99.9% purity dropped by nearly ₹14,000 per 10 grams, while silver declined by around ₹20,000 per kg. This sharp fall was mainly driven by investors booking profits after recent price surges.

Despite the short-term decline, gold prices in India have remained on an upward trend since the beginning of the year. Weakness in equity markets has encouraged investors to shift towards safer assets like gold.

Global Market Impact

Globally, silver prices have also faced pressure and are currently trading about 35% below their historic peak of $121.755 per ounce, adding to domestic market weakness.

Budget 2026 and Market Sentiment

Finance Minister Nirmala Sitharaman presented the Union Budget 2026 today, marking her ninth consecutive budget. The speech began at 11 am and lasted nearly 90 minutes. Market participants continue to track budget-related announcements for their potential impact on bullion prices.