Gold Prices: Correction Expected Post-Budget, Experts Predict Minor Changes

• Union Finance Minister Nirmala Sitharaman will present the Union Budget on February 1, 2026, with gold and silver prices being a key focus.
• 24-carat gold on MCX is at a record high of Rs 1.49 lakh per 10 grams, and silver at Rs 2.91 lakh per kilogram, showing significant increases since the last budget.
• Experts anticipate low probability of major changes in customs or import duty on gold, as previous duty cuts led to record imports.
• The budget might focus on increasing transparency through reporting and disclosure, such as mandatory gold jewelry information in ITR Schedule AL and self-reporting systems.
• While a minor correction in prices is possible post-budget, experts expect gold to recover in the medium term, driven by global factors rather than budget announcements.

Why It Matters: Gold prices may see a minor correction post-budget, but major policy changes are unlikely; focus will be on transparency.