Gold Silver Price February 02: The massive surge in gold and silver prices had surprised everyone, with silver crossing the ₹4 lakh mark and gold prices also witnessing a significant jump. However, just before the presentation of Budget 2026, a sharp decline was recorded in prices, with silver becoming cheaper by approximately ₹1.50 lakh. It’s worth noting that before the budget, silver was trading above ₹4.20 lakh per kilogram. Now, the prices have fallen so drastically that it has surprised everyone once again.
According to GoodReturns, today, February 2, 2026, the price of 24-karat gold has decreased to ₹1,60,720 per gram, while the price of silver has also fallen to ₹3,49,900 per kilogram. This suggests that gold and silver prices have come under control after the presentation of the Union Budget. Let’s look at the latest prices in major cities in detail.
Gold Silver Price February 02
| Carat | Purity of Gold | Prices in morning (₹/10 gram) |
|---|---|---|
| 24 Carat | 99.9% Pure | ₹1,60,720 |
| 22 Carat | 95.8% Pure | ₹1,47,340 |
| 18 Carat | 75% Pure | ₹1,20,580 |
24 Carat Gold Rate Today: Latest prices in major cities
| City | 24 Carat Gold Today (₹/10 gram) | 22 Carat Gold Today (₹/10 gram) | 18 Carat Gold Today (₹/10 gram) |
|---|---|---|---|
| Lucknow | ₹1,60,720 | ₹1,47,340 | ₹1,20,580 |
| Jaipur | ₹1,60,720 | ₹1,47,340 | ₹1,20,580 |
| Delhi | ₹1,60,720 | ₹1,47,340 | ₹1,20,580 |
| Patna | ₹1,60,620 | ₹1,47,240 | ₹1,20,480 |
| Mumbai | ₹1,60,570 | ₹1,47,190 | ₹1,20,430 |
| Ahmedabad | ₹1,60,620 | ₹1,47,240 | ₹1,20,480 |
| Pune | ₹1,60,570 | ₹1,47,190 | ₹1,20,430 |
| Kolkata | ₹1,60,570 | ₹1,47,190 | ₹1,20,430 |
| Meerut | ₹1,60,720 | ₹1,47,340 | ₹1,20,580 |
| Ludhiana | ₹1,60,720 | ₹1,47,340 | ₹1,20,580 |
Silver Rate Today February 2: Latest price of silver
| City | Silver Rate |
|---|---|
| Lucknow | ₹3,49,900 |
| Jaipur | ₹3,49,900 |
| Delhi | ₹3,49,900 |
| Patna | ₹3,49,900 |
| Mumbai | ₹3,49,900 |
| Ahmedabad | ₹3,49,900 |
| Pune | ₹3,49,900 |
| Kolakata | ₹3,49,900 |
| Meerut | ₹3,49,900 |
| Ludhiana | ₹3,49,900 |
Gold Silver Rate Crash Reason
- Profit-taking: After prices reached an all-time high, gold and silver were seen as safe investments, leading investors to start selling to book profits, which put downward pressure on gold and silver prices.
- Stronger dollar: The dollar continuously strengthened against the rupee, leading to weaker demand and a sharp surge in gold and silver prices.
- Sharp rise in a short period: Gold and silver prices saw a sharp increase in just a few days, making it inevitable that this bubble would burst.
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