Gold Crashes 20% in 2 Days, Silver Stuns Amid Budget 2026 and Global Weakness
Personal Finance
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CNBC Awaaz•01-02-2026, 14:59
Gold Crashes 20% in 2 Days, Silver Stuns Amid Budget 2026 and Global Weakness
- •Gold prices plummeted by approximately 20% in two days on the Multi Commodity Exchange (MCX) following Budget 2026.
- •On February 1, 2026, 24-carat gold fell to Rs 1,36,185 per 10 grams on MCX, opening at Rs 1,46,800.
- •Global gold prices also dropped over 9% to $4,887 per ounce, intensifying domestic market pressure.
- •Silver prices saw a sharp decline, falling to Rs 2,65,900 per kilogram on MCX, with a 9% drop in a single session.
- •Budget 2026 maintained existing customs duty rates on gold and silver imports, with no changes announced.
Why It Matters: Gold and silver experienced significant price crashes due to Budget 2026 and global market weakness.
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