Gold, silver prices fall for second straight day ahead of Union Budget

Gold and silver prices continued their downward trend for the second straight day, bringing marginal relief to buyers ahead of the Union Budget. Both precious metals witnessed sharp corrections, with silver recording its steepest fall in the current decade.

Market data shows that the decline has been significant across categories, impacting retail prices of both gold and silver. The continuous softening of rates has drawn attention from consumers, especially the middle class, who closely track bullion prices during the pre-Budget period.

The sustained fall comes amid broader market movements, with investors closely watching economic cues and policy expectations ahead of the Budget presentation.

Gold Prices See Sharp Decline

The price of 24-carat gold has dropped by Rs 8,620. As a result, the rate of 10 grams of 24-carat gold now stands at Rs 1,60,580. Similarly, 22-carat gold has seen a reduction of Rs 7,900, bringing the price of 10 grams down to Rs 1,47,200.

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The consecutive fall in gold prices has slightly eased purchasing pressure for consumers, particularly those planning jewellery purchases or investments.

Silver Records Biggest Fall in a Decade

Silver prices have witnessed a dramatic decline, marking the steepest fall in the current decade. The price of silver has fallen by Rs 55,000 per kilogram, dropping to Rs 3,50,000 per kg.

With precious metals witnessing continuous price corrections ahead of the Union Budget, the decline is being seen as a temporary relief for middle-income buyers, even as markets await further policy signals that could influence bullion prices in the coming days.