Meanwhile, MCX Silver March future declined 27% on last Friday and is down another 6% on Sunday morning to trade around ₹2,74,410 per kg ahead of Budget 2026.
The steep fall in precious metals comes amid profit booking, especially after the nomination of Kevin Warsh as the next US Federal Reserve chief, which spooked commodity markets, as investors viewed him as a hawkish policymaker likely to prioritise inflation control and maintain tighter monetary conditions.
Also Read: Live updates on Union Budget 2026
Domestic gold and silver-focused stocks are likely to be in focus today amid a substantial crash in precious metal prices in the last two trading sessions.
Shares of Hindustan Zinc, Hindustan Copper and National Aluminium Company declined between 9% and 13% on Sunday, early morning trades ahead of Budget 2026 on February 1, 2026.
Meanwhile, the NIFTY Metal index is down over 3.7%, witnessing the steep decline for the second straight day. 13 out of the 15 constituents of the NIFTY Metal index are trading in red, with Hindustan Copper falling 19% intraday on Sunday’s special trading session conducted due to Budget 2026.
Prominent Metal, Gold and Silver stocks fall
| Stock Name | CMP* | Today’s fall* | 52-week low |
|---|---|---|---|
| Hindustan Copper | ₹589.95 | 13.9% | ₹183.82 |
| Hindustan Zinc | ₹567.40 | 9.7% | ₹378.15 |
| NALCO | ₹351.85 | 8.7% | ₹137.75 |
| Vedanta | ₹650 | 4.6% | ₹363 |
| Hindalco | ₹921.55 | 4.2% | ₹546.45 |
| Muthoot Finance | ₹3,594 | 6.1% | ₹1,965 |
| Manappuram Finance | ₹278 . 4 | 2.2% | ₹168.83 |
| Titan Company | ₹3,924 . 5 | 1.3% | ₹2,925 |
| PC Jeweller | ₹10.51 | 1.1% | ₹8.67 |
| MOIL Limited | ₹357 . 8 | 2.2% | ₹274.05 |
| Bhagyanagar India | ₹167.21 | 5% | ₹65 |