Gold Price Today, 02 February 2026: Gold price today in India drops sharply. Check the latest MCX gold rate remain steady at ₹1.60 lakh per 10g and city-wise 24K, 22K, 18K gold prices in Delhi, Mumbai, Chennai, Kolkata, Bengaluru and more for 01 February2026.
Gold Price Today 02 February 2026
Gold Price Today, 2 February, 2026: The Union Budget 2026 being announced on February 1, the markets began February on tenterhooks. Gold known to react to fiscal announcements, tax hints and inflation expectations, remained range-bound a day after the budget announcements as investors digested the impact of the proposals on savings, imports and price movements. There were no shockers in the bullion market, but the overall mood of fiscal responsibility and growth-oriented policies kept gold prices trading in a tight range.
On the Multi Commodity Exchange, gold futures continue to trade in a narrow range as traders await fresh global cues while silver prices remain volatile due to industrial demand uncertainty. Analysts note that MCX gold is still well supported above key technical levels, suggesting consolidation rather than reversal.
April MCX gold futures closed intraday at Rs. 1,50,849 per 10 grams, slipping Rs. 1,496 or 0.98%, compared with the previous close of Rs. 1,52,345 per 10 grams. The current level places gold nearly Rs. 29,930 below its all-time high of Rs. 1,80,779 per 10 grams and highlighting the scale of the pullback from January’s peak.
While MCX silver March futures witnessed a much steeper decline and prices settled at Rs. 2,91,922 per kg, down by Rs. 1,28,126 or roughly 30.5%, from the record high of ₹4,20,048 per kg. The sharp fall underscores heightened volatility in silver, driven by shifting industrial demand expectations and aggressive profit booking.
| City | 24K Today | 22K Today | 18K Today |
| Chennai | ₹16,255 | ₹14,900 | ₹12,800 |
| Mumbai | ₹16,058 | ₹14,720 | ₹12,044 |
| Delhi | ₹16,073 | ₹14,735 | ₹12,059 |
| Kolkata | ₹16,058 | ₹14,720 | ₹12,044 |
| Bengaluru | ₹16,058 | ₹14,720 | ₹12,044 |
| Hyderabad | ₹16,058 | ₹14,720 | ₹12,044 |
| Kerala | ₹16,058 | ₹14,720 | ₹12,044 |
| Pune | ₹16,058 | ₹14,720 | ₹12,044 |
| Vadodara | ₹16,063 | ₹14,725 | ₹12,049 |
| Ahmedabad | ₹16,063 | ₹14,725 | ₹12,049 |
| Country | Price (Local) | Price in INR (Approx) |
| Bahrain | BHD 60.10 | ₹14,617 |
| Kuwait | KWD 48.70 | ₹14,627 |
| Malaysia | MYR 636 | ₹14,794 |
| Oman | OMR 62 | ₹14,766 |
| Qatar | QAR 584.50 | ₹14,706 |
| Saudi Arabia | SAR 600 | ₹14,668 |
| Singapore | SGD 213.10 | ₹15,369 |
| United Arab Emirates | AED 589.50 | ₹14,717 |
| United States | USD 160.50 | ₹14,717 |
| Abu Dhabi (UAE) | AED 589.50 | ₹14,717 |
| Ajman (UAE) | AED 589.50 | ₹14,717 |
| Dubai (UAE) | AED 589.50 | ₹14,717 |
| Fujairah (UAE) | AED 589.50 | ₹14,717 |
| Ras al Khaimah (UAE) | AED 589.50 | ₹14,717 |
| Sharjah (UAE) | AED 589.50 | ₹14,717 |
| Doha (Qatar) | QAR 584.50 | ₹14,706 |
| Muscat (Oman) | OMR 62 | ₹14,766 |
| Dammam (Saudi Arabia) | SAR 600 | ₹14,668 |
| England | GBP 115.29 | ₹14,477 |
| Canada | CAD 223.75 | ₹15,080 |
| Australia | AUD 238.20 | ₹15,180 |
| Nepal | NPR 25,720.61 | ₹16,068 |
| China | CNY 1,162.45 | ₹15,371 |
| Pakistan | PKR 49,113.70 | ₹16,129 |
| Bangladesh | BDT 20,484.80 | ₹15,390 |
| Sri Lanka | LKR 60,500 | ₹17,968 |
| Russia | RUB 12,559.90 | ₹15,203 |
| Japan | JPY 25,775.60 | ₹15,264 |
| Germany | EUR 140.30 | ₹15,244 |
| France | EUR 140.30 | ₹15,244 |
| New Zealand | NZD 277 | ₹15,407 |
| Date | 24K | 22K |
| Feb 01, 2026 | 1,60,580 | 1,47,200 |
| Jan 31, 2026 | 1,60,580 | 1,47,200 |
| Jan 30, 2026 | 1,69,200 | 1,55,100 |
| Jan 29, 2026 | 1,78,850 | 1,63,950 |
| Jan 28, 2026 | 1,67,080 | 1,53,150 |
| Jan 27, 2026 | 1,61,950 | 1,48,450 |
| Jan 26, 2026 | 1,61,950 | 1,48,450 |
| Jan 25, 2026 | 1,60,260 | 1,46,900 |
| Jan 24, 2026 | 1,60,260 | 1,46,900 |
| Jan 23, 2026 | 1,57,150 | 1,44,050 |
Gold and silver futures on the Multi Commodity Exchange (MCX) plunged between 6-9% during the morning session and hitting lower circuits.
This sharp decline was attributed to a massive global rout, margin hikes by the CME Group and pre-Budget profit-booking.
The effect was not delayed in the ETF segment. Gold ETFs dropped as much as 16% in early trading, keeping in line with the steep fall in spot and futures markets. Baroda BNP Paribas Gold ETF, Motilal Oswal Gold ETF and Edelweiss Gold ETF were some of the worst-hit funds, losing more than 15% in a single day while silver ETFs were no different either. Bandhan, Motilal Oswal and Zerodha Silver ETFs dropped between 14 and 16%, indicating panic selling by short-term investors.
The scale of the sell-off becomes clear when you look at the numbers. Gold futures opened the session down nearly 6%, wiping out over Rs. 9,000 per 10 grams in just one day. The bigger story, though is the cumulative slide. In the space of three trading sessions, gold has shed almost Rs. 50,000 per 10 grams, translating to a drop of around 26% from its recent peak. Silver has seen even sharper swings, plunging by more than Rs.17,000 per kilogram in a single session and losing close to Rs.1.45 lakh per kilogram or roughly 35%, over the same period.
