Gold Prices in India Witness Decline on February 3, 2026
The price of gold in India experienced a downward movement on Tuesday, February 3, 2026, continuing a recent trend of decline across all purities. This comes after gold prices had reached an all-time peak in January 2026, marking a significant rise of almost 20 per cent. However, following the presentation of the Union Budget by Finance Minister Nirmala Sitharaman on Sunday, the gold rate saw a decline of 3 per cent, and this downward trend persisted today.
Current Gold Rates Per Gram in India
According to data from GoodReturns, the gold rates in India today are as follows:
- 24-carat gold: ₹15,175 per gram, down by ₹142
- 22-carat gold: ₹13,910 per gram, down by ₹130
- 18-carat gold: ₹11,381 per gram, down by ₹107
24-karat gold, known for its high purity and greater value, is primarily purchased for investment purposes. In contrast, 22-karat and 18-karat gold are more commonly used in jewellery making due to their durability and aesthetic appeal.
City-Wise Gold Price Breakdown for Major Indian Cities
Gold prices can vary slightly across different cities in India due to factors such as local taxes, demand, and supply dynamics. Below is a detailed look at the gold rates per gram in key metropolitan areas as of February 3, 2026.
Gold Rates in Southern Cities
- Chennai: 24K at ₹15,306, 22K at ₹14,030, 18K at ₹12,010
- Bangalore: 24K at ₹15,175, 22K at ₹13,910, 18K at ₹11,381
- Hyderabad: 24K at ₹15,175, 22K at ₹13,910, 18K at ₹11,381
- Kerala: 24K at ₹15,175, 22K at ₹13,910, 18K at ₹11,381
Gold Rates in Western Cities
- Mumbai: 24K at ₹15,175, 22K at ₹13,910, 18K at ₹11,381
- Pune: 24K at ₹15,175, 22K at ₹13,910, 18K at ₹11,381
- Vadodara: 24K at ₹15,180, 22K at ₹13,915, 18K at ₹11,386
- Ahmedabad: 24K at ₹15,180, 22K at ₹13,915, 18K at ₹11,386
Gold Rates in Northern Cities
- Delhi: 24K at ₹15,190, 22K at ₹13,925, 18K at ₹11,396
- Kolkata: 24K at ₹15,175, 22K at ₹13,910, 18K at ₹11,381
It is important to note that these rates are indicative and may fluctuate throughout the day based on market conditions. Investors and jewellery buyers are advised to check with local dealers for the most current prices before making any transactions.
The recent decline in gold prices offers a potential opportunity for those looking to invest or purchase jewellery, especially after the significant rise observed in January. However, market trends suggest that prices may continue to be volatile in the near term, influenced by economic factors and government policies.
