India Gold Silver Rate Today, February 4, 2026: City-Wise Prices Highlight Gold Stability, Silver Correction

India Gold Silver Rate Today, February 4, 2026: Gold and Silver prices in India remain elevated despite a noticeable correction from record highs seen late last month. By early February 2026, 24-karat gold is trading near Rs. 15,400 per gram, about 18% higher than a year ago. Strong investor demand, persistent global uncertainty and gold's reputation as an inflation hedge continue to support prices even as markets adjust after the recent surge.

Gold Retreats From All-Time Highs

Gold crossed Rs. 17,800 per gram for 24K purity in late January, setting a new peak before undergoing a sharp correction of nearly Rs. 2,500 per gram within five trading sessions. Weekly data indicates a 4.2% decline, largely attributed to profit booking by investors.

Even after the fall, prices are still 18-20% higher on a year-on-year basis, suggesting that the broader bullish sentiment remains intact. Market confidence is gradually stabilising as buyers re-enter at lower levels, viewing the dip as a potential accumulation opportunity.

Gold Price Today (4 February 2026) - India Per Gram:

• 24 Karat: Rs. 15,393
• 22 Karat: Rs. 14,110
• 18 Karat: Rs. 11,545
• Yesterday's 24K Price: Rs. 15,317

MCX Signals Continued Volatility

On the Multi Commodity Exchange (MCX), gold futures for February 2026 are quoted at Rs. 1,53,930 per 10 grams, reflecting sensitivity to global bond yields and movements in the US dollar. Silver futures, meanwhile, stand at Rs. 2,80,000 per kilogram and have shown comparatively muted swings.

Analysts note that gold continues to dominate India's commodity landscape as the preferred hedge asset, while silver's price trajectory is influenced more heavily by industrial demand trends.

Gold Rates Across Major Indian Cities

City-wise pricing reveals only marginal variations, with Chennai trading at a premium compared to most metros.

Global Gold Comparison

International comparisons show India among the higher-priced markets, with 24K gold ranging between Rs. 1,61,000 and Rs. 1,62,500 per 10 grams.

Selected Global Prices (per 10g):

• UAE: ₹1,47,170
• Kuwait: ₹1,46,270
• Singapore: ₹1,53,690
• United States: ₹1,47,170
• United Kingdom: ₹1,44,770
• China: ₹1,53,710
• Pakistan: ₹1,61,290
• Nepal: ₹1,60,680
• Sri Lanka: ₹1,79,680

Gold Trend Over the Last 10 Days

Silver Price Today, 4 February 2026: Sharp Correction After January Surge

Silver has experienced intense volatility over the past month. Currently priced at Rs. 280 per gram and Rs. 2,80,000 per kilogram, the metal has corrected significantly from January's peak of Rs. 4,10,000 per kg.

Global demand patterns, currency fluctuations and industrial consumption continue to shape silver's movement, making it an increasingly watched investment alongside gold.

Silver Price Today:

• Per gram: ₹280
• 10 grams: ₹2,800
• 100 grams: ₹28,000
• 1 kilogram: ₹2,80,000

Prices fell ₹20 per gram from the previous session, driven by profit booking and higher margins on global exchanges.

From Record High to Cooling Phase

• January 29: Highest level at ₹4,10,000 per kg
• January 1: Lowest level at ₹2,38,000 per kg
• Last week: Decline from ₹3,00,000 to ₹2,80,000 per kg

The correction followed a 15% increase in initial margins by the CME, which reduced leveraged exposure among traders. Spot silver, however, edged up 8% to $82.74, signalling a tentative rebound.

Silver Rates in Major Cities

Silver's Strong Long-Term Returns

Over the past decade, silver has delivered a compound annual growth rate of 26.1%, outperforming gold. Limited supply combined with robust industrial demand has supported higher returns, prompting investors to diversify portfolios with the metal.

Is Another Silver Dip Possible?

Recent corrections have raised concerns about further short-term declines. Margin hikes and reduced leveraged positions played a major role in the latest drop, though analysts believe long-term fundamentals remain favourable.

Why Silver Prices Change Daily

• Movements in international bullion markets
• Rupee fluctuations against the US dollar
• Industrial demand from electronics, solar and manufacturing sectors
• Investor sentiment and global economic uncertainty

Both gold and silver continue to react quickly to macroeconomic triggers, ensuring that bullion remains a crucial space for investors tracking inflation protection and portfolio stability.