Gold Rate Today 2 February 2026: Gold rate today 2 February 2026 remained under pressure as the Indian gold market witnessed another sharp correction a day after the Union Budget 2026.
Both futures and physical markets saw heavy selling, driven by post-Budget reactions and changes in global margin requirements. As a result, gold prices slipped sharply across MCX and major Indian cities.
Market participants said volatility stayed high throughout the day, although some recovery was seen toward the evening session.
MCX Gold Rate Today
On the Multi Commodity Exchange of India (MCX), gold futures faced strong selling in early trade before stabilising slightly later in the day.
| Contract Expiry | Rate (around 9:00 PM) | Intraday Low | Day’s Change |
|---|---|---|---|
| Feb 5, 2026 | ₹1,47,500 per 10g | ₹1,33,687 | -0.17% |
| April 2026 | ₹1,46,148 per 10g | ₹1,37,065 | -1.09% |
Gold had touched deep intraday lows as traders reacted to global cues and tightened margin norms overseas. Late buying helped prices recover part of the losses, but sentiment remained cautious.
Gold Rate Today 2 February 2026: City-wise Gold Prices
Retail gold prices across major Indian cities followed the MCX trend. In many regions, 24K gold fell by nearly ₹9,000 per 10 grams compared to the previous day. Prices below are indicative and exclude 3% GST and making charges.
| City | 24K Gold | 22K Gold | 18K Gold |
|---|---|---|---|
| Mumbai | ₹1,51,530 | ₹1,38,900 | ₹1,13,650 |
| Delhi | ₹1,51,680 | ₹1,39,050 | ₹1,13,800 |
| Chennai | ₹1,52,180 | ₹1,39,500 | ₹1,20,000 |
| Kolkata | ₹1,51,530 | ₹1,38,900 | ₹1,13,650 |
| Bengaluru | ₹1,51,530 | ₹1,38,900 | ₹1,13,650 |
| Hyderabad | ₹1,51,530 | ₹1,38,900 | ₹1,13,650 |
Why Is Gold Still Falling?
The continued weakness in gold rate today 2 February 2026 is mainly due to post-Budget uncertainty, profit booking after January’s historic rally, and global factors like higher margin requirements in international markets. Traders are also cautious after extreme price swings seen over the last few sessions.
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Experts say gold may remain volatile in the near term, and buyers should closely track live rates before making fresh purchases or investment decisions.
Disclaimer: Informational Use Only: The rates provided are for general information purposes and do not constitute financial or investment advice. Gold prices are highly volatile and subject to market fluctuations.
Yogesh Kolhe is a business and market news writer covering the share market, company earnings, and gold and silver price movements, with a strong focus on the automobile sector. A Mechanical Engineering graduate with 5 years of share market experience, he provides data-driven, reliable insights into market and industry trends.
