Gold, Silver Prices Drop On Budget 2026 Day As MCX Sees Heavy Selling

Gold and silver prices fell sharply on Budget 2026 day as strong selling hit the MCX market. Gold slipped from early highs, while silver stayed mostly flat in many cities. The fall came during Finance Minister Nirmala Sitharaman’s budget speech, which triggered profit booking and quick reactions in commodity markets.

Gold Prices Slide On MCX

Gold prices on MCX dropped heavily during the session. The 24-carat gold rate fell to around ₹1,36,185 per 10 grams after opening much higher earlier in the day. This sharp move clearly showed nervous trading and fast exits by short-term investors. Many traders locked profits after gold touched record levels earlier this year.

In metro cities like Delhi, Mumbai, Bengaluru and Kolkata, gold prices stayed near ₹1,69,300 per 10 grams. Chennai recorded the highest gold rate, crossing ₹1,73,000 per 10 grams. The correction came just a day after gold reportedly fell by more than ₹3,500 per 10 grams.

Silver Prices Remain Mostly Stable

Silver prices did not fall as sharply as gold. Rates stayed almost unchanged with a mild uptick in some markets. Chennai once again recorded the highest silver price at around ₹4,18,900 per kilogram. In cities like Delhi, Mumbai and Pune, silver traded close to ₹4,10,000.

Market experts say silver is seeing balanced demand from both industry and investors, which is limiting sharp price swings for now.

Why Prices Fell Suddenly

The sudden fall in gold and silver prices was mainly due to aggressive profit booking. Gold and silver had climbed very fast in recent weeks. Many investors chose to exit positions on Budget day to avoid risk. Global market pressure and stronger selling sentiment also added to the fall.

Gold prices have been rising since the start of the year as weak equity markets pushed investors toward safe assets. This correction was expected after such a strong rally.

Budget Day Market Mood

While the Union Budget focused on long-term growth, commodity traders reacted instantly. The budget speech started at 11 am and lasted nearly one and a half hours. During this time, price volatility remained high across commodities.

For now, gold and silver markets remain sensitive. Prices may stay volatile in the coming days as investors track global cues and post-budget reactions closely.