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MCX Gold, Silver Rate Feb 2 highlights: Check rates in Delhi, Mumbai and Bengaluru before you buy or sell
Gold, Silver Feb 2 Rates: 24-carat gold on MCX fell to ₹1,36,185 per 10 grams, down from an opening price of ₹1,46,800 per 10 grams on Sunday, the day of the Union Budget 2026, showing heavy selling and sharp price swings during the session, as per Groww.
- 8:34 PM IST, Feb 2Sharp decline seen in Delhi
- 7:07 PM IST, Feb 2Mumbai Bullion closing rates
- 5:34 PM IST, Feb 2What are the current silver prices in India?
- 5:20 PM IST, Feb 2What is the current per gram gold price in India?
- 3:07 PM IST, Feb 2Why is Gold and Silver plummeting globally?
Gold, Silver Rates Feb 2 highlights: Updates to this live blog have ended, track today's silver and gold rates here. Gold and silver prices again saw volatility on Monday, days after rates first crashed following record-highs earlier this month....Read More
The prices came amid mixed trading conditions, with spot gold edging lower while US gold futures moved higher. Silver prices are also seeing similar volatility, causing panic among those who bought into the precious metal highs.
After Union Finance Minister Nirmala Sitharaman presented the Budget 2026 on Sunday, there was a drop of 3 % in gold prices and 9 % in silver prices.
24-carat MCX prices fall on Budget day
24-carat gold on MCX fell to ₹1,36,185 per 10 grams, down from an opening price of ₹1,46,800 per 10 grams on Sunday, the day of the Union Budget 2026, showing heavy selling and sharp price swings during the session, as per Groww.
What is the difference between 22K and 24K gold?
K or karats is a term used to measure the purity of gold. In simple words, 24K gold is also called pure gold and has 99.9 per cent purity. It does not contain traces of other metals. On the other hand, 22K gold comprises 22 parts of gold mixed with two parts of other metals like copper and zinc. It is harder than 24K gold due to presence of other metals. It is suited for making jewellery.
K or karats is a term used to measure the purity of gold. In simple words, 24K gold is also called pure gold and has 99.9 per cent purity. It does not contain traces of other metals. On the other hand, 22K gold comprises 22 parts of gold mixed with two parts of other metals like copper and zinc. It is harder than 24K gold due to presence of other metals. It is suited for making jewellery.
How are gold prices determined in India?
Gold prices in India are determined on several factors, including currency, global demand, interest rates and government policies. If the rupee slides against the US dollar in India, gold will become expensive.
What are the factors affecting silver price in India?
In India, the price of silver is determined by factors like gold rates, industrial demand, bulk purchases, inflation etc.If the price of gold increases, the silver price will also increase. The industrial firms use silver for production of various commodities like jewellery, coins, medals etc.Also, it is easier to influence the silver market through large trades and purchases.
