Gold and silver prices rebound sharply as MCX gold nears ₹1.53 lakh and silver jumps nearly 13%.
Gold and silver prices rebounded sharply in India after a steep four-day decline, with strong buying returning to the bullion market on Tuesday and extending into Wednesday, February 4. Prices had earlier come under pressure amid volatility in global markets and movements in the US dollar.
On the Multi Commodity Exchange (MCX), gold and silver futures surged in early trade on February 3, reflecting renewed investor interest. The rally gained momentum after US President Donald Trump announced a reduction in tariffs on Indian imports to 18 per cent from 50 per cent, boosting sentiment across commodities.
MCX gold April futures opened 2.78 per cent higher at ₹1,48,000 per 10 grams, compared to the previous close of ₹1,41,669. Prices later surged over 6 per cent, nearing the ₹1.53 lakh mark. Meanwhile, MCX silver March futures opened nearly 4 per cent higher at ₹2,45,711 per kg and jumped close to 13 per cent to around ₹2.67 lakh.
The recovery comes after bullion prices saw a sharp sell-off earlier this week. International gold prices also climbed more than 2 per cent on Wednesday, supported by a weaker US dollar.
City-wise Gold Rates Today (₹ per 10 grams)
| City | 24K | 22K | 18K |
|---|---|---|---|
| Chennai | 1,62,560 | 1,49,000 | 1,27,500 |
| Mumbai | 1,60,530 | 1,47,150 | 1,20,400 |
| Delhi | 1,60,680 | 1,47,300 | 1,20,550 |
| Kolkata | 1,60,530 | 1,47,150 | 1,20,400 |
| Bengaluru | 1,60,530 | 1,47,150 | 1,20,400 |
| Hyderabad | 1,60,530 | 1,47,150 | 1,20,400 |
| Kerala | 1,60,530 | 1,47,150 | 1,20,400 |
| Pune | 1,60,530 | 1,47,150 | 1,20,400 |
| Ahmedabad | 1,60,580 | 1,47,200 | 1,20,450 |
| Jaipur | 1,60,680 | 1,47,300 | 1,20,550 |
| Lucknow | 1,60,680 | 1,47,300 | 1,20,550 |
| Coimbatore | 1,62,560 | 1,49,000 | 1,27,500 |
| Madurai | 1,62,560 | 1,49,000 | 1,27,500 |
| Chandigarh | 1,60,680 | 1,47,300 | 1,20,550 |
| Bhubaneswar | 1,60,530 | 1,47,150 | 1,20,400 |
Silver prices jump over 13% on MCX
Silver prices recorded a sharp rally, outperforming gold amid strong buying interest in the futures market. On the MCX, silver March futures surged nearly 13 per cent after opening around 4 per cent higher, tracking gains in global markets and a softer US dollar. The metal also found support from improved industrial demand, pushing domestic prices sharply higher across major Indian cities.
City-wise silver rates today
| City | 10 g (₹) | 100 g (₹) | 1 kg (₹) |
|---|---|---|---|
| Chennai | 3,200 | 32,000 | 3,20,000 |
| Mumbai | 3,200 | 32,000 | 3,20,000 |
| Delhi | 3,200 | 32,000 | 3,20,000 |
| Kolkata | 3,200 | 32,000 | 3,20,000 |
| Bengaluru | 3,200 | 32,000 | 3,20,000 |
| Hyderabad | 3,200 | 32,000 | 3,20,000 |
| Kerala | 3,200 | 32,000 | 3,20,000 |
| Jaipur | 2,799 | 27,990 | 2,79,900 |
| Lucknow | 2,799 | 27,990 | 2,79,900 |
| Patna | 2,799 | 27,990 | 2,79,900 |
| Chandigarh | 2,799 | 27,990 | 2,79,900 |
| Surat | 2,799 | 27,990 | 2,79,900 |
Published: 04 Feb 2026, 12:23 pm IST
Related Topics
Subscribe to our Newsletter
Disclaimer: Kindly avoid objectionable, derogatory, unlawful and lewd comments, while responding to reports. Such comments are punishable under cyber laws. Please keep away from personal attacks. The opinions expressed here are the personal opinions of readers and not that of Mathrubhumi.
