What are the prices of gold, silver on budget day after a week of fluctuation?

The sudden fall in prices has sparked speculation over the factors behind the decline in prices of the precious metals.

Published on: Feb 1, 2026, 15:33:58 IST

By HT News Desk

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Gold and silver prices showed mixed trends across major Indian cities this week, after touching record highs and then witnessing a sharp dip.The sudden fall in prices has sparked speculation over the factors behind the decline in prices of the precious metals.

On Sunday, in Delhi, 24-carat gold was priced at ₹16,073 per gram, while 22-carat gold stood at ₹14,735 per gram and 18-carat gold at ₹12,059 per gram. (Representative Image/Pexel)

On Sunday, as India got its Union Budget 2026-27, in Delhi, 24-carat gold was priced at ₹16,073 per gram, while 22-carat gold stood at ₹14,735 per gram and 18-carat gold at ₹12,059 per gram. Silver in the national capital was trading at ₹350 per gram, or ₹3,50,000 per kilogram, according to Good Returns.

Gold prices in Chennai were relatively higher. The rate for 24-carat gold stood at ₹16,255 per gram, while 22-carat gold was priced at ₹14,900 per gram and 18-carat gold at ₹12,800 per gram.

Silver in Chennai was quoted at ₹320 per gram, or ₹3,20,000 per kilogram.

Mumbai saw gold prices largely in line with Delhi.

The price of 24-carat gold was ₹16,058 per gram, while 22-carat gold was available at ₹14,720 per gram and 18-carat gold at ₹12,044 per gram.

Silver prices in Mumbai stood at ₹350 per gram, or ₹3,50,000 per kilogram.

In Bangalore, gold prices were similar to Mumbai, with 24-carat gold priced at ₹16,058 per gram, 22-carat gold at ₹14,720 per gram and 18-carat gold at ₹12,044 per gram. Silver in the city was trading at ₹350 per gram, or ₹3,50,000 per kilogram.

In Ahmedabad, the price of 24-carat gold stood at ₹16,063 per gram, while 22-carat gold was priced at ₹14,725 per gram and 18-carat gold at ₹12,049 per gram. Silver prices in Ahmedabad were at ₹350 per gram, or ₹3,50,000 per kilogram.

Silver, however, traded at a premium in the city, quoted at ₹404.90 per gram and ₹4,04,900 per kilogram.

Trends this week

Gold and silver prices surged to record highs earlier this week before seeing sharp corrections.

Silver climbed to an all-time high of ₹4,04,500 per kg on Thursday, but slipped 15 per cent in the following trading session.

Gold also scaled a fresh peak of ₹1,83,000 per 10 grams on Thursday, before dropping 7.6 per cent to around ₹1,69,000 per 10 grams in the previous trade.

Overall, gold prices have jumped 20.2 per cent, or ₹27,800, from ₹1,37,700 per 10 grams recorded at the end of last year.

Also Read | Gold, silver prices drop sharply ahead of Budget speech, hit lower circuit

What are the prices of MCX gold and silver?

On the Multi Commodity Exchange (MCX), gold futures (24 carat) were hovering around ₹1,60,860 per 10 grams, while silver MCX was trading at ₹3, 670 per 10 grams.

MCX gold and silver prices crashed on Friday as investors booked profits amid a global sell-off triggered by a stronger US dollar.

Trading in the commodity market remains open during the morning session from 9:00 am to 5:00 pm.

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HT News Desk
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