Gold and Silver Price Today in India: Complete Market Snapshot
We present a comprehensive, up-to-date, and in-depth analysis of gold and silver prices today, 02 February 2026, focusing on the Indian bullion market. After weeks of relentless upward momentum that pushed precious metals to record highs, gold and silver prices have witnessed a sharp correction, triggering renewed interest among jewellery buyers, long-term investors, and market observers.
Since the beginning of the new year, gold prices surged aggressively, breaching psychological milestones and shaking household budgets. However, the first week of February has delivered a surprising twist. Post-budget cues, global market adjustments, and profit booking have collectively resulted in a notable decline in prices, offering much-needed relief to consumers.
Gold and Silver Price Today – 02 February 2026 (India)
Gold Price Table
| Gold Type | Price per Gram (₹) | Price per Sovereign – 8g (₹) | Price Change Today |
|---|---|---|---|
| 22 Carat Gold | 13,950 | 1,11,600 | ▼ ₹950 / gram |
| 18 Carat Gold | 12,000 | 96,000 | ▼ ₹800 / gram |
Silver Price Table
| Silver Unit | Today’s Price (₹) | Price Change Today |
|---|---|---|
| 1 Gram Silver | 300 | ▼ ₹20 |
| 1 Kilogram Silver | 3,00,000 | ▼ ₹20,000 |
Gold Price Today – 02.02.2026: Sharp Decline Across All Carats
22 Carat Gold Price Today in India
As of today, 22 carat gold prices have dropped significantly, marking one of the steepest single-day corrections in recent weeks.
- Price per gram: ₹13,950
- Price per sovereign (8 grams): ₹1,11,600
- Today’s change: ₹950 decrease per gram and ₹7,600 decrease per sovereign
This drop has brought cheer to middle-class households and wedding-season buyers, many of whom had postponed purchases due to soaring prices earlier this year.
The fall is particularly noteworthy considering that just days ago, the price of one sovereign of gold had crossed ₹1.30 lakh, causing widespread concern among consumers.
18 Carat Gold Price Today
Gold used extensively in modern and designer jewellery has also seen a healthy price correction.
- Price per gram: ₹12,000
- Price per sovereign: ₹96,000
- Today’s change: ₹800 decrease per gram and ₹6,400 decrease per sovereign
This reduction has sparked renewed interest among urban buyers, young professionals, and fashion jewellery enthusiasts, who prefer 18 carat gold for its durability and contemporary appeal.
Silver Price Today – 02 February 2026: Big Relief for Bulk Buyers
Silver prices, which had been climbing steadily alongside gold, have also registered a sharp fall, providing relief to both industrial users and retail investors.
- Price per gram: ₹300
- Price per kilogram: ₹3,00,000
- Today’s change: ₹20 decrease per gram and ₹20,000 decrease per kilogram
The decline in silver prices is significant, especially for manufacturers, traders, and investors who deal in bulk quantities. It also improves affordability for households that traditionally purchase silver utensils and ornaments.
Why Gold and Silver Prices Fell Today
Post-Budget Market Adjustment
Following the Union Budget, markets have entered a consolidation phase. Traders and institutional investors are booking profits after the sharp rally witnessed in January, leading to temporary price corrections.
Global Cues and Dollar Movement
International gold markets have shown mild weakness, driven by fluctuations in the US dollar and cautious sentiment around global interest rate expectations. These factors often translate quickly into Indian bullion prices.
Reduced Safe-Haven Demand
With some easing in geopolitical tensions and equity markets showing resilience, safe-haven demand for gold has softened marginally, contributing to today’s price dip.
Gold Price Trend in 2026: A Volatile Yet Strong Market
Despite today’s decline, we observe that gold prices in 2026 remain structurally strong. Since January, gold has delivered exceptional returns, reaffirming its status as a trusted store of value and hedge against inflation.
Key long-term drivers supporting gold prices include:
- Persistent global economic uncertainty
- Central bank gold accumulation
- Inflationary pressures
- Currency volatility
- Strong domestic demand during festive and wedding seasons
Short-term corrections such as today’s are widely viewed as healthy pullbacks rather than trend reversals.
Is This the Right Time to Buy Gold and Silver?
Today’s correction offers a strategic buying opportunity for:
- Jewellery buyers planning upcoming weddings or festivals
- Long-term investors seeking to average their purchase cost
- Silver investors looking for entry points after recent highs
Market participants often wait for such dips to accumulate physical gold, digital gold, or sovereign gold bonds, depending on their investment strategy.
Gold as a Symbol of Savings and Security in India
In India, gold is more than a commodity—it represents wealth preservation, cultural pride, and financial security. From weddings and festivals to long-term savings, gold continues to play a central role in household financial planning.
Even during periods of volatility, Indian demand for gold remains resilient, reinforcing its importance in both rural and urban economies.
Silver Outlook: Industrial Demand Keeps Long-Term Optimism Intact
While silver prices have dipped today, industrial demand from renewable energy, electronics, and electric vehicles continues to support long-term optimism. Analysts widely believe silver has strong upside potential once short-term corrections stabilize.
Key Takeaways: Gold and Silver Price Today – 02.02.2026
- 22 carat gold: ₹13,950 per gram
- 18 carat gold: ₹12,000 per gram
- Silver: ₹300 per gram
- Gold and silver prices dropped sharply, bringing relief to buyers
- Jewellery demand expected to rise following the correction
- Long-term outlook remains bullish despite short-term volatility
Final Word: Market Correction Brings Opportunity
The gold and silver price drop on 02 February 2026 marks a crucial moment for buyers who were waiting on the sidelines. While prices may continue to fluctuate in the short term, precious metals remain fundamentally strong, supported by global and domestic factors.
We continue to monitor bullion market movements closely and provide timely, accurate, and detailed updates to help readers make informed decisions.