Gold Prices Experience Downward Trend Across India on February 5
The gold market in India witnessed a significant correction on Thursday, February 5, 2026, with prices declining across all major purity levels. This downward movement comes after a period of substantial gains, including an all-time peak reached in January 2026, where prices had surged by almost 20 per cent.
Current Gold Rates Per Gram in India
As of today, the price of 24-karat gold, which is primarily purchased for investment purposes due to its high purity, has decreased by ₹502 to settle at ₹15,442 per gram. Similarly, 22-karat gold, widely utilized in jewellery making, fell by ₹460, trading at ₹14,155 per gram. The 18-karat gold, also popular for jewellery, saw a decline of ₹376, bringing its price to ₹11,582 per gram.
City-Wise Gold Price Analysis for Major Indian Cities
Gold rates vary slightly across different cities in India. Here is a detailed breakdown of today's prices per gram in key metropolitan areas:
- Chennai: 24K at ₹15,622, 22K at ₹14,320, 18K at ₹12,250
- Mumbai: 24K at ₹15,442, 22K at ₹14,155, 18K at ₹11,582
- Delhi: 24K at ₹15,457, 22K at ₹14,170, 18K at ₹11,597
- Kolkata: 24K at ₹15,442, 22K at ₹14,155, 18K at ₹11,582
- Bangalore: 24K at ₹15,442, 22K at ₹14,155, 18K at ₹11,582
- Hyderabad: 24K at ₹15,442, 22K at ₹14,155, 18K at ₹11,582
Other cities such as Kerala, Pune, Vadodara, and Ahmedabad also reported similar rates, with minor variations. For instance, Vadodara and Ahmedabad recorded 24K gold at ₹15,447, 22K at ₹14,160, and 18K at ₹11,587 per gram.
Factors Influencing the Recent Gold Price Movement
The recent decline in gold prices can be attributed to several factors. Notably, after Union Finance Minister Nirmala Sitharaman presented the Union Budget on Sunday, the gold rate saw a decline of 3 per cent. This adjustment negates the upward trend observed from the previous day, indicating market volatility and responsiveness to economic policies.
Gold remains a crucial asset in India, with 24-karat gold being favored for investments, while 22-karat and 18-karat gold are predominantly used in jewellery manufacturing. The current rates reflect a broader trend of correction following the historic highs, offering potential opportunities for buyers and investors.
