Bengaluru Gold Silver Rate Today, February 3, 2026: Gold and Silver Prices Nosedive After India-US Trade Deal

Gold and silver prices in Bengaluru saw a sharp decline on Tuesday, February 3, 2026, as the post-budget 'hangover' combined with a global liquidity crunch sent precious metal prices into a tailspin. This comes just hours after the announcement of a landmark India-US Trade Deal, where US President Donald Trump agreed to slash tariffs on Indian goods from a punitive 50% down to 18%. Meanwhile, gold and silver prices in the city have retreated to levels not seen in weeks, effectively ending the speculative rally that dominated January.

Bengaluru Gold Rate Today (February 3, 2026)

As per the latest rates in the city, gold is cheaper than it was a few days ago:

24 Carat Gold: ₹1,51,750 per 10 grams (₹15,175 per gram)

22 Carat Gold: ₹1,39,100 per 10 grams (₹13,910 per gram)

18 Carat Gold: ₹1,13,810 per 10 grams (₹11,381 per gram)

Jewellers in Bengaluru said many customers are waiting to see whether prices will fall further before buying gold.

Why Gold Prices Change in Bengaluru

The prices in the city are currently being shaped by several major factors:

The 18% Tariff Effect: The historic India-US deal (dropping tariffs from 50% to 18%) supercharged the Rupee, which surged by 119 paise. A stronger Rupee makes gold imports cheaper, forcing local prices down.

Global Market Crash: Local rates are tracking a massive global slide where spot gold fell toward $4,780 per ounce due to a strengthening US Dollar.

Post-Budget Reaction: Following the Union Budget on Sunday, the market moved into a "profit-taking" phase. While there was no cut in import duties, the lack of new taxes on bullion has allowed prices to cool.

New US Fed Leadership: The nomination of "hawkish" Kevin Warsh as the next Federal Reserve Chair has boosted the dollar, which traditionally pushes gold and silver prices down.

Margin Hikes: International exchanges (like the CME) raised the cost of trading, forcing large institutional investors to sell off positions to raise cash.

Bengaluru Silver Rate Today (February 3, 2026)

Silver prices have moved down significantly from the ₹4.10 lakh per kg mark reached last month. The price of silver in Bangalore today is ₹280 per gram and ₹2,80,000 per kilogram.

Silver Price per 1 kg: ₹2,80,000

Silver Price per 10 grams: ₹2,800

Retail interest in silver coins and bars is steady at these revised rates, though industrial demand remains the primary driver of the current price.

Traders in Bengaluru mentioned that silver buying remains slow as the metal continues to show high volatility, though industrial demand from the tech sector is expected to provide support eventually.

Gold and Silver Futures on MCX

On the Multi Commodity Exchange (MCX), gold futures for April 4 delivery are trading lower by 1.05%, at ₹1,46,196 per 10 grams. Meanwhile, silver futures for the March 5 expiry have witnessed a sharp decline, slipping 10.15% to trade at ₹2,38,682.

How to Invest in Gold and Silver

Despite the current crash, gold and silver remain staple long-term investments in Karnataka. You can invest via:

Physical Assets: Jewellery, hallmarked coins, and bars from local retailers.

Paper/Digital Gold: Investing in gold/silver ETFs, Sovereign Gold Bonds, or digital gold platforms.

MCX Trading: For those comfortable with market fluctuations, trading futures on the Multi Commodity Exchange.

Experts advise: Given the extreme volatility of the past 72 hours, it may be wise to buy in small, staggered amounts rather than making a single large investment today.