On the global front, COMEX precious metals recorded heavy losses:
COMEX Gold Price:
Closed over 11% lower at $4,763.10 per ounce, nearly 15% below its record high of $5,625.16/oz.
COMEX Silver Price:
Ended more than 31% lower at $78.832 per ounce, down sharply from its lifetime high of $121.755/oz.
The steep correction came as higher margin requirements forced leveraged traders to cut positions, intensifying the sell-off.
The domestic bullion market mirrored global weakness:
MCX Gold (April Futures):
Settled at ₹1,50,849 per 10 grams, down ₹1,496 (0.98%).
Prices are now ₹29,930 (16.55%) below the lifetime high of ₹1,80,779 per 10 grams.
MCX Silver (March Futures):
Closed at ₹2,91,922 per kg, nearly ₹1,28,126 (30.50%) below the record high of ₹4,20,048 per kg.
The sharp correction reflects both global pressure and rising uncertainty ahead of major domestic policy announcements.
Market experts cite multiple reasons behind the fall:
CME Margin Hike Buzz
Higher margins reduce speculative participation, leading to forced selling and price corrections.
Profit Booking at Elevated Levels
Gold and silver had rallied sharply in recent months, prompting traders to book profits.
Union Budget 2026 Speculation
According to market expert Anuj Gupta, speculation is growing that the government may cut import duties on gold and silver to revive demand in the jewellery sector.
“We may see further downside in domestic gold and silver prices if the Union Budget 2026 announces a reduction in import duties. The gems and jewellery industry has been demanding relief, and any such move could weigh on prices,” he said.
The jewellery industry has been under pressure due to record-high gold and silver prices, impacting retail demand. A potential import duty cut could:
Improve affordability
Boost jewellery demand
Increase short-term price volatility in bullion markets
As a result, investors are advised to remain cautious and closely track Budget 2026 announcements.
Expect high volatility in the near term
Avoid aggressive leveraged positions
Focus on long-term allocation strategy rather than short-term price swings
Monitor Budget-related policy announcements and global cues
For expert insights on Budget 2026, agriculture reforms, and market impact, connect with us:
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