Gold Silver Price Today February 03: The massive surge in gold and silver prices had surprised everyone, with silver crossing the ₹4 lakh mark and gold prices also seeing a significant jump. However, just before the Union Budget 2026 was presented, a sharp decline in prices was recorded, 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 3, 2026, the price of 24-karat gold has fallen to ₹1,51,900, while the price of silver has also dropped to ₹2,80,000 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 Today February 03
| Carat | Purity of Gold | Price in Morning (₹/10 gram) |
|---|---|---|
| 24 Carat | 99.9% Pure | ₹1,51,900 |
| 22 Carat | 95.8% Pure | ₹1,39,250 |
| 18 Carat | 75% Pure | ₹1,13,960 |
24 Carat Gold Rate Today: Latest prices in major cities
| City | 24 Carat Gold Today (₹/gram) | 22 Carat Gold Today (₹/gram) | 18 Carat Gold Today (₹/gram) |
|---|---|---|---|
| Lucknow | ₹1,51,900 | ₹1,39,250 | ₹1,13,960 |
| Jaipur | ₹1,51,900 | ₹1,39,250 | ₹1,13,960 |
| Delhi | ₹1,51,900 | ₹1,39,250 | ₹1,13,960 |
| Patna | ₹1,51,800 | ₹1,39,150 | ₹1,13,860 |
| Mumbai | ₹1,51,750 | ₹1,39,100 | ₹1,13,810 |
| Ahmedabad | ₹1,51,800 | ₹1,39,150 | ₹1,13,860 |
| Pune | ₹1,51,750 | ₹1,39,100 | ₹1,13,810 |
| Kolkata | ₹1,51,750 | ₹1,39,100 | ₹1,13,810 |
| Meerut | ₹1,51,900 | ₹1,39,250 | ₹1,13,960 |
| Ludhiana | ₹1,51,900 | ₹1,39,250 | ₹1,13,960 |
Silver Rate Today February 3: Latest price of silver
| City | Silver Rate |
|---|---|
| Lucknow | ₹2,80,000 |
| Jaipur | ₹2,80,000 |
| Delhi | ₹2,80,000 |
| Patna | ₹2,80,000 |
| Mumbai | ₹2,80,000 |
| Ahmedabad | ₹2,80,000 |
| Pune | ₹2,80,000 |
| Kolkata | ₹2,80,000 |
| Meerut | ₹2,80,000 |
| Ludhiana | ₹2,80,000 |
Gold and Silver Rate Crash Reasons
- Profit-taking: After prices reached an all-time high, gold and silver were seen as safe investments, leading investors to start selling for profit, which put downward pressure on gold and silver prices.
- Strong Dollar: The dollar strengthened continuously against the rupee, which weakened demand and led to a sharp rise 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.
Also Read- Indian stock market recovers after budget, Sensex sees slight gain; know what to expect from market
