Gold Rate Today 2 February 2026 shows a big fall. After touching record highs in January, prices corrected sharply in India. The Union Budget 2026-27 and changing expectations around US interest rates triggered the slide.
Right now, 24K gold sits at about ₹15,153 per gram in the retail market. That’s down noticeably from yesterday. For jewelry buyers, 22K gold is at ₹13,890 per gram.
On the MCX, gold futures took a harder hit. February contracts dropped to an intraday low near ₹1,42,614 per 10 grams. This marks one of the steepest two-day falls in recent times. The main trigger? Kevin Warsh’s nomination as the next Fed Chair strengthened the US dollar and lifted global bond yields, pulling gold lower.
The January rally was fueled by global tensions and a weaker rupee. Now, profit booking and a stronger dollar are driving the correction.
Gold Rate Today 2 February 2026 looks in major cities (for 10 grams):
| City | 24K Gold (10g) | 22K Gold (10g) |
|---|---|---|
| Chennai | ₹1,52,180 | ₹1,39,500 |
| Delhi | ₹1,51,680 | ₹1,39,050 |
| Mumbai | ₹1,51,530 | ₹1,38,900 |
| Bangalore | ₹1,51,530 | ₹1,38,900 |
| Kolkata | ₹1,51,530 | ₹1,38,900 |
Prices differ a bit due to local taxes and demand.
Short term, the mood stays bearish with more profit-taking possible. But many experts feel central banks buying gold and steady industrial use could support prices soon.
Gold Rate Today 2 February 2026 reminds us how fast markets can turn. Investors are watching US moves closely while jewelers and buyers wait for stability.
Disclaimer: The information provided in this article regarding gold rates, MCX prices, and market trends is for general informational and educational purposes only. While every effort has been made to ensure the accuracy of the data as of February 2, 2026, gold prices are subject to extreme market volatility and can change multiple times within a single day.
Sources & References
- https://indianexpress.com/article/india/gold-today-rate-february-2-check-18-22-and-24-carat-gold-prices-chennai-mumbai-delhi-kolkata-and-other-cities-10508587
- https://indianexpress.com/article/india/gold-silver-today-rate-1-february-2026-live-updates-silver-gold-price-budget-2026-10506338/#:~:text=22K%20gold%20now%20stands%20at,Gold%20price%20in%20India%20today
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.
