Gold, Silver Today Rate, 1 February 2026 Live Updates: Gold rate saw a drop of 3%, and silver prices of 9% after Union Finance Minister Nirmala Sitharaman presented the Union Budget Sunday. The Budget has kept rates on customs duty unchanged for import of gold and silver. Importers will continue to pay the same duty rates as before.
According to the All India Sarafa Association, silver tumbled Rs 72,500, or 18.85 per cent, to Rs 3,12,000 per kg (inclusive of all taxes), marking a second straight session of steep losses after touching a record high of Rs 4,04,500 per kg on Thursday. Despite the correction, silver closed January with strong gains, rising Rs 73,000, or 30.5 per cent, from Rs 2,39,000 per kg on December 31, 2025.
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Gold prices also weakened, falling Rs 3,500, or 2.07 per cent, to Rs 1,65,500 per 10 grams (inclusive of all taxes). In the previous session, gold of 99.9 per cent purity had declined 7.6 per cent after hitting a record Rs 1,83,000 per 10 grams. On a monthly basis, gold gained Rs 27,800, or 20.2 per cent in January, from Rs 1,37,700 per 10 grams at the end of last year.
