Gold and Silver Price Crash: The decline in gold and silver prices shows no signs of stopping. Following the steep drop on Budget Day, gold and silver crashed again on Monday. Silver fell by nearly ₹16,000 at the opening.
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Gold and Silver Price Crash: The gold and silver price crash continues. After a significant drop on the budget day, both precious metals became cheaper with the start of futures trading on the Multi Commodity Exchange on Monday. While the price of 1 kg of silver fell by nearly ₹16,000, the futures price of 10 grams of 24-karat gold on MCX fell by more than ₹4,000.
This is how much the price of 1 kg of silver fell.
Silver prices have been continuously crashing since crossing ₹4 lakh for the first time in history on Thursday last week. After falling by more than 9% on Sunday, the day of Budget 2026, when commodity trading began on MCX on Monday, the first trading day of the week, silver became even cheaper upon opening.
Silver prices fell sharply last trading day and then recovered, finally closing at ₹265,652. As soon as trading opened on Monday, they fell to ₹255,652 per kg, only to reach ₹249,713 per kg within minutes. This means that silver futures became cheaper by ₹15,943.
Silver is now so much cheaper than its high
Silver is falling at a faster rate than the surge it saw in the past few days. Last Thursday, silver futures on the MCX, expiring on March 5, broke all records and touched a new lifetime high of ₹420,048. However, the price has since fallen by ₹170,335 from this level.
Gold is also facing a similar situation as silver
Gold is also facing a similar decline as silver prices. On Budget Day, it fell by ₹13,000, although it recovered slightly. On Sunday, it closed at ₹147,753 and on Monday, as soon as trading began on the Multi Commodity Exchange, it slipped to ₹143,321 per 10 grams. This means that the price of 10 grams of 24 Karat gold has fallen by ₹4,432.
How much cheaper is gold now than its high?
Gold prices, in tandem with silver, touched a new high last Thursday, reaching a meteoric rise of ₹1,93,096 per 10 grams. After reaching this level, gold prices began to decline, and it is now selling for ₹49,775 less.
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