Gold, Silver Rates Today: Gold Sees Sharpest Fall in 40 Years, Silver Crashes 30%; Budget 2026 In Focus

Gold, Silver Rates Today: Gold tumbled over 12%, dropping below $5,000 an ounce and logging its steepest single-day fall since the early 1980s. Silver fared even worse, plunging more than 36% in a record intraday collapse as heavy selling swept across the broader metals market.

The crash in precious metals was sparked by a sharp rally in the US dollar following reports — later confirmed — that the Donald Trump administration was preparing to nominate Kevin Warsh as the next US Federal Reserve chair.

In global markets, spot gold ended 8.9% lower at $4,894.23 an ounce in New York, while silver slumped 26% to settle at $85.20 an ounce.

MCX Gold, Silver Prices

The Multi Commodity Exchange of India (MCX) has scheduled a special trading session today,

Sunday, as Finance Minister Nirmala Sitharaman presents the Union Budget 2026 in Parliament. Commodity trading will be open for the morning session from 9:00 AM to 5:00 AM.

Domestic bullion futures mirrored the global rout on Friday, with investors booking profits amid the stronger dollar-led selloff. MCX gold prices plunged Rs 33,113, or 18%, to settle at Rs 1,50,849 per kg, while MCX silver tumbled Rs 1,07,971, or 27%, to close at Rs 2,91,922 per 10 grams.