Gold and silver prices continued their sharp decline on Sunday, as investors booked profits post an unprecedented rally over the past year. MCX gold February futures fell 7.12 per cent to Rs 1,39,000 per 10 grams around 10 am on an intraday basis. Meanwhile, MCX silver March futures dipped 9 percent to Rs 2,65,652 per kg.

CME Group raised margin requirements on Comex gold and silver futures after the metal prices saw steep declines, which raised investor caution. Further, the US dollar strengthened, and domestic investors expected a customs duty cut in Budget 2026, which fuelled the fall in precious metals. International markets saw spot gold prices heading for their steepest daily fall since 1983, while silver is set for its worst day on record.