Gold Price Today in India (4th Feb 2026)Highlights: Gold prices have been recovering over the past two trading sessions. In the international markets, spot gold was trading near the $5,000 mark, up nearly 2% on the day.
The price gain accelerated as US President Donald Trump finally lowered reciprocal tariffs on Indian goods to 18% from 50%.
Gold jumps 7% on February 3
The yellow metal marked one of its biggest single-day gains yesterday, with prices rising over 7% on the day and climbing above the $4,950/oz mark.
Analysts have said that the rebound in prices is largely on the back of strong buying by central banks and rising safe-haven demand. On Tuesday morning the US Navy shot down an Iranian drone which bolstered the safe-haven appeal of the asset.
What drove the gold rate down?
On February 2, gold prices collapsed by 25% from their all-time high of $5,600/oz. The slump in gold prices has been attributed to the nomination of Kevin Warsh as the next chair of the Fed. The former Fed governor is known for his rather hawkish stance.
Following the announcement, a huge sell-off was triggered in the markets, as the US dollar staged a recovery.
How are gold prices rebounding?
Despite the recent pullback, experts have pointed out that gold has corrected from record-high levels and continues to trade at elevated prices. They added that the undertone for gold still remains bullish owing to heavy safe-haven demand.
Gold prices remain in focus, with global cues and optimism over the trade deal driving momentum in the yellow metal.
The Silver, Gold ETF investment strategy: Gold bull markets don’t end on sharp price drops
UBS said sharp daily declines alone do not mark the end of gold bull markets. The firm noted that gold rallies usually don’t conclude just because fears ease or prices appear stretched, but when central banks restore credibility and shift to a new monetary policy regime.
The Silver, Gold ETF investment strategy: Gold rebounds sharply on Iran-US tensions
Gold prices staged a strong recovery on Wednesday, climbing back toward the $5,100 mark as investors sought safety amid renewed geopolitical tensions between the United States and Iran. The rebound came a day after bullion recorded its strongest single-day gain in more than 17 years.
Spot gold jumped 2.8% to $5,076.01 per ounce by 0655 GMT, following a 5.9% surge on Tuesday, its biggest daily rise since November 2008. Prices had hit an all-time high of $5,594.82 last Thursday before retreating sharply earlier this week. U.S. gold futures for April delivery rose 3.3% to $5,097.20 per ounce.
The Silver, Gold ETF investment strategy: Indusind on Gold rate
According to Jigar Trivedi, Senior Research Analyst at Indusind, "Securities Gold climbed back above the key $5,000/oz level on Wednesday, building on a more than 6% surge in the previous session, the biggest daily gain since 2008, as dip buyers stepped in following a sharp pullback earlier in the week. Geopolitical tensions also lifted the metal’s safe-haven appeal after US forces downed an Iranian drone near an aircraft carrier in the Arabian Sea, although President Donald Trump said diplomacy remains active, with the White House confirming US-Iran talks are still scheduled for Friday. Meanwhile, expectations for rapid Federal Reserve rate cuts eased after Trump nominated Kevin Warsh as Fed chair, though markets still price in two cuts this year, likely around mid-year and later in 2026. Separately, key US labor data, including JOLTS and the monthly jobs report, will be delayed by the partial government shutdown, while House Republicans are set to vote Tuesday on a Senate-approved funding package."
The Silver, Gold ETF investment strategy: What investors mis-read during ‘panic’ sell-off
Gold and silver-linked ETFs staged a smart recovery. However, given the extent of the fall, it surely made investors skeptical. However, leading fund managers believe that ‘panic’ is not the right response in this type of situation. Especially for gold, they believe the risk-reward situation is attractive at the moment.
MCX silver futures for March 5 closed at Rs 2,68,234 per kg on February 3, rising 13.63% on the day, while gold futures for April 2 settled at Rs 1,52,200 per 10 grams, up 5.70%. The recovery followed heavy selling over the previous sessions, when sentiment turned sharply negative despite no meaningful change in underlying fundamentals. Read more
Gold Rate Today in India Live Updates: Expert's take on Gold moving ahead
"Gold prices continue to rebound as the COMEX CME price of gold is above or near about $5,050, correcting from the lows of around $4,500, which is an almost 10% rise the prices have shown in the CME price, whereas on the MCX side also, a major support has been formed into the gold prices near 1,38,000-1,40,000 zones, and right now rebounding towards the 1,60,000 zones. Going ahead, 1,61,000 to 1,63,000 remains the strong resistance point, as well as 5,100 on to the CME side will be the strong resistance point," said Jateen Trivedi, Vice President of Research, Commodity and Currency at LKP Securities.
Gold Rate Today in India Live Updates: Spot gold extend gains for second straight trade
Spot gold extended gains for a second consecutive session today, surging above $5,050 per ounce after rebounding sharply from lows below $4,500 per ounce hit last week. The rally was supported by a softer dollar and aggressive dip-buying following a brutal sell-off that had pushed prices nearly 20% below record highs.
Economist, Mohamed A. El-Erian in a social media post on X highlighted the recent market shift in the price of gold and added that the yellow metal is now outperforming Bitcoin.
Via charts he explained that gold has been performing better in the markets as compared to Bitcoin which is edging down.
Yesterday Bitcoin hit its lowest levels since November 2024.
https://twitter.com/elerianm/status/2018747428061810955?s=20
Gold Rate Today in India Live Updates: Gold gains +17% in just 48 hours
In just 48 hours gold prices have surged by over 17% as they crossed the $5,000/oz mark.
The price acceleration has been attributed to the easing in the US Dollar along with heavy investment demand and sharp rise in dip-buying
https://twitter.com/KobeissiLetter/status/2018936214506922155?s=20
Gold Rate Today in India Live Updates: Gold ETFs posting strong gains
Gold ETFs are showing strong one-day percentage gains in line with the rise in underlying gold prices, while traded prices continue to adjust during the open session.
The Wealth Company Gold ETF is higher by 6.30% and is traded at Rs 161.87. Edelweiss Gold ETF is up 5.46%, traded at Rs 147.73. Quantum Gold Fund – Exchange Traded is higher by 5.45%, traded at Rs 136.01. Motilal Oswal Gold ETF is up 4.77%, traded at Rs 162.16.
Gold Rate Today in India Live Updates: MCX Gold up 4%
On MCX, the most-active April contract of gold was up 3.82% trading at Rs 1,59,685 per 10 grams, as of 1:23 pm (IST)
In international markets, spot gold is nearing the $5,100 mark, as it is trading near the $5,090 mark.
The prices of precious metals like gold and silver are rising amid a soft dollar. The dollar index is trading down today.
Gold Rate Today in India Live Updates: De-dollarisation increasing gold trade
De-dollarization trends are also driving the prices of gold. Central banks are reducing their dollar holding, which is one of the most dominant global reserve currencies and instead shifting to hard assets like gold, silver etc.
Owing to geopolitical uncertainties investors are losing their trust in fiat currencies (US Dollars, Indian Rupee, etc.) and are consciously’ taking steps to move their reserves into gold.
Precious metals like gold perform well during times of geopolitical uncertainties as they are non-interest yielding assets.
Read More: De-Dollarization: How the US dollar decides gold’s fate
Gold Rate Today in India Live Updates: Gold demand escalates on dip-buying
Gold prices are trending up today owing to heavy dip-buying, which is a strategy where investors purchase precious metals heavily when their is temporary fall in their prices.
Investors make these purchases expecting the prices to rise again.
On January 29, gold was trading near the $5,600/oz mark. Four days later i.e. on February 2, gold plunged down by a whooping $1,100 and was trading near the $4,500 mark.
Today the prices have again seen a recovery as they are trading near the $5,000 levels. So investor demand for gold remains intact as it is still below its record high levels.
Gold prices are gaining momentum owing to heavy dip-buying and Gold ETFs are also responding to this price hike
The HDFC Gold Exchange-Traded Fund (ETF) gained by nearly 4%, with similar increase of 4.3% in the the Axis Gold ETF , while the Baroda BNP Paribas Gold ETF gained by 3.75%
Gold Rate Today in India Live Updates: MCX Gold up 4%
On MCX, the April delivery contract of gold was up 3.84% trading at Rs 1,59,720 per 10 grams.
Providing outlook for gold prices on MCX, Ponmudi R, CEO of Enrich Money said that "A sustained hold above ₹1,68,000 could revive upside momentum toward ₹1,80,000, keeping the medium-term outlook constructive despite ongoing near-term volatility. "
Gold Rate Today in India Live Updates: Analyst says gold up on heavy dip-buying
Explaining why gold is gaining at a fast pace , Jigar Trivedi, Senior Research Analyst at Indusind Securities said
"Gold climbed back above the key $5,000/oz level on Wednesday, building on a more than 6% surge in the previous session, the biggest daily gain since 2008, as dip buyers stepped in following a sharp pullback earlier in the week. "
He added that geopolitical tensions also lifted the metal’s safe-haven appeal after US forces downed an Iranian drone near an aircraft carrier in the Arabian Sea, although President Donald Trump said diplomacy remains active, with the White House confirming US-Iran talks are still scheduled for Friday.
Trivedi noted that expectations for rapid Federal Reserve rate cuts eased after Trump nominated Kevin Warsh as Fed chair, though markets still price in two cuts this year, likely around mid-year and later in 2026.
Separately, key US labor data, including JOLTS and the monthly jobs report, will be delayed by the partial government shutdown, while House Republicans are set to vote Tuesday on a Senate-approved funding package. MCX Gold April futures is likely to appreciate Rs 158,000/10g as the prices have, the analyst said.
Gold Rate Today in India Live Updates: MCX Gold up 4%
Gold prices were trending up on the back of a softer dollar index. On MCX, the most-active contract of gold was up 3.74% trading at Rs 1,59,600 per 10 grams as of 9:27 am (IST)
Gold Rate Today in India Live Updates: Geopolitical tensions between US and Iran weigh on Gold prices
Geopolitical tensions between US-Iran continue to weigh on the prices of gold. On Tuesday, US Navy shot down an Iranian drone, which further added to the safe-haven demand of the precious metal.
As per reports both the countries are trying to negotiate, to de-escalate political tensions. Also, AFP citing an Arab official said that a meeting between US and Iran is likely to take place in Turkey on February 6.
Geopolitical tensions increase the safe-haven appeal of precious metals like gold as they are non-interest yielding asset.
Chennai: 24-karat gold is priced at around Rs 15,422per gram, while 22-karat gold costs about Rs 14,136.83. The 18-karat rate stands near Rs 11,566.5 per gram.
Mumbai: Gold prices for 24-karat gold is priced at roughly Rs 15,354 per gram. The 22-karat rate is close to Rs 14,074.5 and 18-karat gold is trading near Rs 11,515.5per gram.
Delhi: In the national capital, 24-karat gold is available at about Rs 15,350per gram. The 22-karat variety costs nearly Rs 14,070.83 and 18-karat gold is priced around Rs 11,512.5 per gram.
Kolkata: Gold rates in Kolkata are similar to Mumbai, with 24-karat gold at around Rs 15,334 per gram, 22-karat gold at Rs 14,056.17, and 18-karat gold near Rs 11,500.5 per gram.
Read More: Gold Rate Today in India
Gold Rate Today in India Live Updates: Strong data from WGC push gold prices higher
UBS in its report said that it raised its forecast for gold to $6,200/oz following strong fundamentals, and strong demand data reported by the World Gold Council.
UBS expects continued support from central bank buying, higher ETF inflows, and increased demand for bars and coins, supported by lower US real interest rates and ongoing geopolitical uncertainty.
The CME Group hiked the margins for futures contracts of gold, saying that the margins were being revised due to the recent volatility in the precious metals markets.
For non-heightened risk profiles, gold futures margins have been increased to 8% from the present 6%. For heightened risk profiles, the margins have been raised to 8.8% from the present 6.6%.
The hike came into effect from February 2, 2026. Following the implementation of the hike, prices started staging a recovery from February 3, 2026.
Read More: Gold, silver plunge: MCX, CME margins revised- What it means for investors
Gold Rate Today in India Live Updates: Investment demand for gold remains heavy
According to a report published by Reuters, investment demand for gold particularly from the retail sector remains the key driving factor for its prices.
"We expect prices to remain volatile, even though the conditions remain for further significant upside this year," Reuters quoted Philip Newman, director at consultancy Metals Focus. He added that gold prices could exceed the $5,500 level.
Gold Rate Today in India Live Updates: Gold crosses the $5,000/oz mark.
In the international markets, gold prices are seeing a sharp recovery as spot gold has again crossed the $5,000/oz mark and is currently trading at $5,061/oz levels.
UBS has set a mid-year forecast of $6,200 per ounce, which implies an upside of about 24% from recent levels.
On February 3, the April delivery contract for gold was trading flat on MCX at Rs 1,53,650 per 10 grams.
The current price of 24-carat gold in India is Rs 153,540 per 10 gms, which is gain of 7.45% from the previous close.
Read More: Gold Rate Today in India
Gold Rate Today in India Live Updates: UBS says nomination of Warsh amplified the crash in gold prices
UBS Chief Investment Office In a report said that the prices of gold dropped sharply following the announcement of Kevin Warsh as the nominee for Federal Reserve chair. The firm noted that Warsh is widely seen favouring stricter monetary discipline, restrained growth of the Federal Reserve’s balance sheet, and institutional reform.
According to UBS, this announcement intensified concerns about interest rates and supported a stronger US dollar, both of which weighed on gold prices. UBS also said the fall was amplified by profit-taking after recent gains, reduced liquidity in futures markets, and forced selling after exchanges tightened margin requirements.
Read More: Rebound in Gold prices today: UBS forecasts $6,200/oz by mid-year
Gold Rate Today in India Live Updates: Gold prices trading nearing the $5,000/oz mark
Gold prices have retreated sharply from their record lows. On , January 30, 2026, the long-awaited correction in the gold prices occurred. The big spike and parabolic rise in gold and prices had led to speculation that an equally sharp drop is imminent, which investors saw on Friday.
However, some stability came in yesterday as the prices started rebounding and posted a single day gain of 7%.
Today, the prices are trading at the $4,996/oz level in the international markets. In India, too on Tuesday gold prices surged back on the Multi Commodity Exchange (MCX) surged back above the Rs 1.50 lakh mark on strong buying momentum.