Gold and Silver Prices Today in India (3 Feb): After recent weeks of making high records, both gold and silver markets have shown significant price declines on the Multi Commodity Exchange (MCX) and in physical bullion markets throughout the nation. The ongoing price fluctuations of precious metals have become a focal point of observation for investors traders and everyday consumers.
Gold and Silver Prices Today in India (3 Feb)
On 3 February 2026, gold prices in India have eased significantly compared to recent peaks. According to the latest bullion data:
- 24-carat: ₹1,60,720 per 10 grams
- 22-carat: ₹1,47,340 per 10 grams
- 18 carat: ₹1,20,580 per 10 grams
Gold Prices (per 10 grams): Citywise
- Delhi: ~₹1,51,680 (24K)
- Mumbai: ~₹1,51,530 (24K)
- Kolkata: ~₹1,51,530 (24K)
- Chennai: ~₹1,52,180 (24K)
- Bengaluru: ~₹1,51,530 (24K)
- Hyderabad: ~₹1,51,530 (24K)
- Jaipur: ~₹1,51,680 (24K)
- Lucknow: ~₹1,51,680 (24K)
- Patna / Bhopal / Chandigarh: ~₹1,51,580-₹1,51,680 (24K)
Silver Prices Today
On 3 February, silver trades near ₹3,49,900 per kilogram in major cities including Mumbai and Kolkata. This level comes following a sharp correction from earlier elevated prices that had seen silver push past ₹4 lakh per kg
- Delhi: ~₹300 per gram
- Mumbai: ~₹300 per gram
- Kolkata: ~₹300 per gram
- Pune: ~₹300 per gram
- Hyderabad / Ahmedabad / Lucknow / Indore / Patna / Bhubaneswar / Kanpur / Mysore: ~₹300 per gram
Navigating the World of Digital Gold Loans
What’s Driving the Price Moves?
1. Profit Booking After Record Runs
During the year both gold and silver reached their highest historic prices which led to substantial interest from speculators. The market experienced increased selling pressure when investors decided to secure their profits which resulted in price declines as the market processed their selling activities.
2. Global Market Cues
The international bullion futures market experienced its second consecutive day of declining prices because currency movements especially the rising value of the U.S. dollar affected trader behavior who traded based on changes in global risk perception.
3. Budget 2026 Impact
Local market operators had established a connection between recent market fluctuations and how investors responded to India’s Union Budget announcement which included their forecasts about economic conditions leading to market movements at both upward and downward directions.
Gold and Silver Prices Today in India (3 Feb): Should You Buy Today?
The market at 3 February 2026 shows a defensive attitude which differs from a positive outlook. The market currently experiences price corrections from previous peaks while ongoing market fluctuations continue to occur.
The current prices of gold and silver present better buying opportunities for gifts and personal use because their value has decreased from previous price highs.
The investment approach requires investors to wait until they observe a complete price direction change or they should seek guidance from a reliable financial expert to determine investment timeframes and evaluate market dangers.
