Gold and silver futures opened sharply lower ahead of the Union Budget 2026, retreating steeply from record highs amid profit booking in domestic and international markets
Silver futures, which touched a peak of ₹4.2 lakh a kg on Thursday, fell 30% to ₹2.92 lakh in a day. Gold also weakened by 17.53%, but silver lost more. Are we seeing a 1980s redux?
Market participants attribute the steep fall primarily to old stocks still lying in cold storage in large quantities, even as fresh arrivals gather pace, along with expectation of bumper crop this yr
