Silver Gold Rates Today: Sharp Rebound After Budget Crash Shocks Buyers
Silver Gold Rates Today: Sharp Rebound After Budget Crash Shocks Buyers
Silver gold rates are back in focus after witnessing one of the most dramatic price swings in recent years. After a steep fall triggered by post-Budget profit booking and global market pressure, both precious metals showed a strong recovery on February 3, 2026.
Gold prices jumped by several thousand rupees per 10 grams, while silver recorded even sharper gains per kilogram. This sudden reversal has brought relief to buyers and renewed debate among traders and households tracking daily bullion prices.
The recent movement in silver gold rates reflects how sensitive the market has become to global cues, currency movements, and investor sentiment.
From record highs in late January to a sudden crash and then a quick rebound, the price journey has been fast and emotional for many participants. People who waited to buy during the fall now see prices rising again, while others feel the correction was healthy after weeks of rapid growth.
Key Takeaways
- Silver and gold prices rebounded strongly on February 3 after a sharp Budget-led correction.
- Volatility remains high due to global economic signals and profit booking.
- Silver continues to show bigger price swings than gold.
- Public sentiment is mixed between relief, frustration, and cautious optimism.
- Buyers are closely watching current levels as a possible entry point.
Recent Movement In Silver Gold Rates
Silver gold rates saw a powerful bounce after two days of heavy losses. Gold recovered between ₹7,000 and ₹9,000 per 10 grams in many markets, while silver rose by ₹14,000 to ₹33,000 per kilogram in a single session. This rebound followed one of the steepest declines seen after the Union Budget announcement.
In late January, both metals reached record or near-record levels. Gold crossed the ₹1.75 lakh mark per 10 grams and silver surged close to ₹4 lakh per kilogram in some contracts. These levels were driven by strong global demand, currency weakness, and heavy speculative activity.
However, the rally became too fast. Profit booking started immediately after the Budget, and prices corrected sharply. Gold dropped up to 18 percent from its peak in some segments, while silver lost as much as ₹1.5 lakh per kilogram from its highs. February 3 marked the first strong recovery after this fall.
Current Silver And Gold Prices In India
The present silver gold rates in India vary slightly by city and market source. The overall direction remains upward after the rebound.
Table: Latest Silver And Gold Rates In Major Cities (Approximate)
| City | Gold 24K (10g) | Gold 22K (10g) | Silver (per kg) |
|---|---|---|---|
| Delhi | ₹1,51,900 | ₹1,39,250 | ₹2,80,000 |
| Mumbai | ₹1,51,750 | ₹1,39,100 | ₹2,80,000 |
| Kolkata | ₹1,51,750 | ₹1,39,100 | ₹2,80,000 |
| Chennai | ₹1,53,060 | ₹1,40,300 | ₹2,80,000 |
| Hyderabad | ₹1,52,500 | ₹1,40,000 | ₹2,75,000 |
These figures show that prices are still below the late January peak but well above the levels seen during the sudden crash.
Why Did Prices Fall And Rise So Fast
The recent movement in silver gold rates was driven by several combined factors.
First, global monetary signals changed direction. The nomination of a hawkish Federal Reserve leadership candidate strengthened the US dollar. A stronger dollar makes commodities priced in dollars more expensive for other countries, which reduces demand.
Second, profit booking played a major role. After weeks of continuous gains, many traders locked in profits. This selling pressure pushed prices down sharply.
Third, margin hikes by commodity exchanges increased the cost of holding futures positions. This forced some traders to reduce exposure quickly, adding to the fall.
Finally, bargain buying started once prices dropped significantly. Many investors saw the correction as an opportunity to re-enter the market. This buying interest triggered the sharp rebound seen on February 3.
Silver Continues To Show Higher Volatility
Silver gold rates do not always move at the same speed. Silver remains the more volatile metal. During the recent phase, silver fell harder than gold and also recovered faster.
Reasons for silver’s stronger swings include:
- Smaller market size compared to gold
- Higher use in industry and manufacturing
- Less central bank support
- Greater speculative trading
This is why silver is often described as explosive in both directions. Gold, on the other hand, is considered more stable and driven mainly by long-term investment and safe-haven demand.
Public Opinion On Silver Gold Rates
Public reaction on social media shows a mix of emotions.
Many users expressed relief when prices dipped, calling it a chance to buy after weeks of rising rates. Some described the fall as a natural result of overspeed growth and believed the rebound proves that demand is still strong.
Others shared frustration. Several people said they delayed buying because they were waiting for tax refunds or salary payments. By the time they planned to purchase, prices had already risen again.
There was also discussion about long queues in Chinese gold markets, which many saw as a sign of profit taking at high levels. This global behavior added to market pressure and curiosity.
Humor and political commentary were also visible. Some posts joked about predictions that failed and how quickly the market changed direction.
Overall sentiment can be summarized as:
- Admiration for the speed of recovery
- Caution due to extreme volatility
- Interest in buying after the dip
- Acceptance that 2026 is proving to be a wild year for precious metals
What This Means For Buyers And Households
For households planning weddings or jewellery purchases, silver gold rates remain a concern. Prices are still much higher than last year. Even after the correction, gold and silver are trading well above historical averages.
Buyers are now watching daily movements more closely. Small changes of ₹2,000 to ₹5,000 per 10 grams in gold and ₹10,000 per kilogram in silver have become common.
This situation encourages cautious decision making rather than rushed buying. Many families are spreading purchases over time instead of buying all at once.
Key Factors To Watch In Coming Days
The direction of silver gold rates will depend on several signals in the coming days.
Listicle: Main Factors That May Influence Prices
- US economic data such as employment and services activity
- Dollar index movement
- Global geopolitical stability
- Commodity exchange margin policies
- Buying demand from China and India
- Investor response to recent volatility
Any strong shift in these areas can move prices sharply in either direction.
Is The Correction Over Or Will Volatility Continue
Many analysts believe the recent correction was overdue after such a rapid rally. The rebound shows that long-term demand remains present. However, volatility is unlikely to disappear soon.
Gold may face resistance near previous highs, while silver may continue to swing within a wide range. Markets are adjusting to new information, and this adjustment period often comes with sharp daily changes.
The pattern seen recently suggests that price discovery is still ongoing. Instead of a straight upward path, silver gold rates are now moving in waves of rise and fall.
Long-Term View Of Silver Gold Rates
Despite short-term turbulence, precious metals remain important assets in uncertain times. Inflation concerns, currency movements, and global trade shifts keep gold and silver relevant.
The past few weeks have shown how quickly sentiment can change. From excitement at record highs to fear during the crash and then confidence during recovery, emotions have driven much of the movement.
This phase may lead to more balanced trading rather than one-sided rallies.
Conclusion
Silver gold rates have entered a phase of intense volatility in early 2026. After reaching historic highs, both metals faced a sharp correction triggered by profit booking and global economic cues. The strong rebound on February 3 has restored some confidence but also reminded buyers and traders that prices can move very fast.
Public opinion reflects relief, frustration, humor, and cautious optimism. Silver continues to be more unpredictable than gold, and both metals are likely to remain sensitive to global developments.
For now, silver gold rates remain elevated compared to past years, and the market appears to be searching for stability after one of the fastest corrections in recent memory.
Tags: silver gold rates, gold price today, silver price today, precious metals market, bullion prices India, gold silver rebound, market volatility
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