Gold crashes to Rs 1.36 lakh on MCX on Union Budget day; silver plunges 19%

Gold prices continued to decline on Sunday, with 24-carat gold on the MCX falling to Rs 1,36,185 per 10 grams, as Finance Minister Nirmala Sitharaman presented the Union Budget 2026-27 in Parliament.

The precious metal had opened the session at Rs 1,46,800 per 10 grams, reflecting sustained selling pressure and sharp intra-day swings.

Gold had witnessed sharp volatility, falling around 5.4 per cent on Saturday to Rs 1,69,470 per 10 grams for 24 carat. In international markets, gold prices declined by over 9 per cent to USD 4,887 per ounce. Gold gained Rs 27,800, or 20.2 per cent in January, from Rs 1,37,700 per 10 grams at the end of last year.

Silver prices also saw a sharp sell-off on Saturday, plunging nearly 19 per cent to Rs 3.12 lakh per kg. It closed January on strong gains, rising Rs 73,000, or 30.5 per cent, from Rs 2,39,000 per kg on December 31, 2025.