Gold prices remained unchanged on February 1 as Union Budget 2026 announcements kept markets calm. Check today’s 22K, 24K and 18K gold rates.
Gold prices remained unchanged on February 1 as Union Budget 2026 announcements kept markets calm [Photo: X]
Gold prices in India showed little movement on February 1, coinciding with the presentation of the Union Budget 2026. After witnessing a sharp correction toward the end of January, gold entered a phase of consolidation, offering stability to buyers and investors watching the Budget announcements closely.
On Budget Day, the price of 24 Karat gold stood at Rs 16,058 per gram, while 22 Karat gold was priced at Rs 14,720 per gram. Rates remained unchanged from the previous trading session, reflecting a cautious mood in the bullion market as traders assessed policy signals from the government.
The domestic gold market opened steady, with no major reaction to the Budget speech. Analysts believe that the absence of any direct announcement related to gold import duties or taxation helped prices maintain equilibrium.
This pause follows a noticeable decline in prices during the last week of January, when profit-booking and global cues triggered a pullback in bullion rates.
Pure gold continued to trade flat across quantities. Buyers looking at higher volumes saw no change in pricing:
The steady trend suggests that market participants are waiting for further clarity on global interest rate movements and inflation signals.
Jewellery-grade gold also showed no volatility, bringing some relief to retail buyers during the wedding and festive planning season.
Stable prices make it easier for consumers to plan purchases without the pressure of sudden spikes.
Used largely for lightweight jewellery and modern designs, 18 Karat gold mirrored the broader market trend:
Demand for lower-purity gold remains steady among younger buyers and urban consumers.
Market experts believe that the government’s growth-focused approach reduced expectations of policies that could encourage aggressive gold buying. With strong emphasis on capital expenditure and productive investments, gold did not receive any direct stimulus.
“The government is all set to maintain growth momentum and promote economic activity. So, naturally, the policymakers won't encourage gold buying. According to them, investing in physical gold is an idle investment, though it may help households hedge against inflation,” said Umesh Mohanan, ED & CEO of Indel Money.
With domestic policy risk largely neutral, gold prices may now respond more actively to international cues such as US interest rate decisions, dollar movement, and geopolitical developments. For now, the market appears balanced, offering both investors and buyers a period of price stability.
