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Union Budobtain 2026 Live: Gold futures sink 9%, silver hits lower circuit as profit booking intensifies

Gold and silver prices plunged by up to 9 per cent in futures trade on Sunday, hitting their lower circuit levels ahead of the presentation of the Union Budobtain for 2026–27, as investors extconcludeed profit-booking after a recent record-breaking rally. The sharp sell-off continued for the second straight session. On the MCX, the April gold futures contract dropped Rs 13,711, or 9 per cent, to Rs 1,38,634 per 10 grams, touching its lower circuit.

In the previous session, gold had slumped Rs 31,617, or 17.2 per cent, to settle at Rs 1,52,345 per 10 grams, after scaling an all-time high of Rs 1,93,096 per 10 grams on Thursday. Silver futures also witnessed heavy losses. The March contract on the MCX plunged Rs 26,273, or 9 per cent, to Rs 2,65,652 per kilogram, hitting its lower circuit.

On Friday, silver had tumbled Rs 1,07,968, or 27 per cent, to close at Rs 2,91,925 per kg, after touching a record peak of Rs 4,20,048 per kg a day earlier. Traders attributed the steep correction in bullion prices to aggressive unwinding of long positions amid heightened volatility in global markets and cautious sentiment ahead of the Union Budobtain presentation by Finance Minister Nirmala Sitharaman later in the day. Global futures markets remained closed on Sunday due to a holiday.

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