Budget 2026 Alert Gold & Silver Prices Crashed! Will Gold be Cheaper Tomorrow?

Budget 2026 Alert Gold & Silver Prices Crashed! Will Gold be Cheaper Tomorrow?

The budget is scheduled for tomorrow, February 1st, but just one day before, on January 31st, the bullion market has witnessed a major upheaval. Both gold and silver have plummeted.

If you are planning to buy gold, this news is very important for you. Will prices fall further after the budget? Let's find out today's latest situation and tomorrow's expectations.

Today's Rates Current MCX Rates - January 31, 2026 📉

A sharp decline was observed as soon as the market opened today.

Gold 24K is approximately ₹1,69,200 per 10 grams, significantly lower than its record high.

Silver is approximately ₹3,94,900 per kg; a few days ago, it was above ₹4 lakh.

The reason for the decline is profit booking before the budget and the strengthening of the dollar.

What are the expectations from Budget 2026? Expectations 💰

1. Reduction in Customs Duty/Import Tax? The jewelry industry is demanding that the government reduce the import duty on gold.

If this happens, gold could become cheaper by ₹2000 - ₹5000.

Experts believe that the duty could be reduced from 15% to 10-12%.

2. Limit for buying gold without a PAN Card 🆔 Currently, you can buy gold worth up to ₹2 lakh without providing a PAN card.

It is expected that, considering the rising inflation, the government may increase this limit to ₹5 lakh. This will provide relief to the common man.

3. Digital Gold and SGB (Sovereign Gold Bond) The government may introduce new rules to promote Paper Gold SGBs instead of physical gold biscuits/jewelry, making investing in them more profitable.

Should you buy now? Expert Advice 🤔

My advice is—wait 24 hours! Finance Minister's speech will begin at 11 AM tomorrow, February 1st.

If the duty is reduced, prices will fall further.

If the duty is increased, prices will rebound. Therefore, it would be wise to make a decision only after the budget announcement.

Conclusion

Gold and silver are no longer just jewelry, but also an investment. Tomorrow is a very important day. As soon as the budget is announced, we will give you the updates first.

If you want to know how much gold you can buy with your current income, check your extra income with our YouTube Money Calculator!