Decline refuses to stop! Silver crashes again, price drops by ₹10,000 in a jolt, gold slips by up to ₹4,000

New Delhi (The Uttam Hindu): The downward trend in gold and silver prices continues without pause. After a sharp fall on Budget day, both precious metals became even cheaper as futures trading began on Monday at the Multi Commodity Exchange (MCX). In a sudden move, silver prices dropped by ₹10,000 per kilogram, while 24-carat gold futures fell by more than ₹4,000 per 10 grams.

Silver prices have been under constant pressure since crossing the ₹4 lakh per kg mark for the first time last Thursday. On Budget 2026 day, silver had already fallen by more than 9 percent. As trading opened on Monday, the first business day of the week, selling pressure intensified further on MCX, pushing prices down again.

In the previous trading session, silver witnessed heavy volatility. Despite some recovery after the fall, it had closed at ₹2,65,652 per kg. However, as soon as trading resumed on Monday, silver futures slipped to ₹2,55,652 per kg, recording another sharp decline of ₹10,000.