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Gold & Silver Rates Live Updates: MCX Gold Recovers Losses, Silver Dips 11%; 24K, 22K, 18K Gold Prices
Gold and silver prices in India continue to be under pressure on February 2nd, even after the Union Budget 2026 announcements. On Monday, MCX gold dropped by 2% and struggled to hold around Rs 1.40 lakh and MCX silver price plunged nearly 6% while trying to breath around Rs 2.50 lakh per 1Kg mark. This performance is due to appetite for safe haven assets falling sharply on a global level.
In the international market, Spot gold has plunged by over 4% and is below $4,700 per ounce, while spot silver declined nearly 7% to below $80 per ounce.
The latest reason to topple precious metals is the last week's market rout which was fuelled after US President Donald Trump nominated Kevin Warsh to become the chair of US Federal Reserve. Warsh is known for more hawkish stance, which makes dollar attractive and gold less compelling.
Gold Rates Live Updates: Spot Gold Slips Over 4
Gold slid more than 4% to below ,700 per ounce on Monday, extending losses from the prior session when the precious metal suffered its steepest fall in more than a decade. Friday’s rout was triggered by US President Donald Trump’s nomination of Kevin Warsh, widely viewed as a more hawkish choice, to lead the Federal Reserve. Profit-taking also emerged after a relentless rally that had pushed gold to record highs. That advance was fueled by strong central bank demand and the so-called debasement trade, as investors rotated into physical assets from currencies and bonds amid concerns over surging government debt, as per Trading Economics data.
Silver Live Updates: Check Out Silver Prices Trend In India
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Gold Rates Live Updates: Catch Real-Time Movement In Gold
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Silver Rates Live: MCX Silver Nosedives
MCX silver with March 2026 expiry, has crashed by around 42% from its peak of Rs 4,20,048 per 1Kg as of now. It currently trades at Rs 2,51,294 per 1Kg, down by Rs 14,358 or 5.4%.
Gold Rates Live Updates: MCX Gold Price Crashes
At the time of writing, MCX gold futures with April 2026 expiry, nosedived by Rs 1,605 or 1.09% to trade at Rs 1,46,148 per 10 grams. Meanwhile, MCX gold price who is set to expire on February 5, 2026, plunged by 3.3% to hit an intraday low of Rs 1,37,453 per 10 grams. This futures is down by nearly 24% from its peak of Rs 1,80,779 per 10 grams.
Gold & Silver Rates Live Updates: Gold & Silver Price Fall Most In Decade
Both gold and silver prices have seen their steepest fall in more than a decade. As per Trading Economics data, US President Donald Trump plans to nominate Kevin Warsh, who is viewed as a more hawkish choice, to lead the Federal Reserve. Profit-taking also emerged after a relentless rally that had pushed gold to record highs. That advance was fueled by strong central bank demand and the so-called debasement trade, as investors rotated into physical assets from currencies and bonds amid concerns over surging government debt.
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