Gold and silver prices recorded a sharp rise across India on Wednesday, February 4, with both precious metals gaining strongly after a brief pause in the upward trend.
Gold prices jumped by nearly ₹6,600 per 10 grams, while silver surged by ₹40,000 per kg, reflecting increased demand for safe-haven assets among investors.
In the international market, silver futures on COMEX rose 5.48 per cent to $87.86 per ounce, while gold climbed 3.35 per cent to cross the $5,000 per ounce mark once again.
In the domestic spot market, 24-carat gold was priced at ₹1,51,750 per 10 grams in Mumbai, while 22-carat gold stood at ₹1,39,100 per 10 grams. Silver prices increased to ₹3,20,000 per kg.
Earlier, on February 2, gold and silver prices had witnessed a sharp correction from record highs. Currently, MCX gold is around 24 per cent lower than its peak, while MCX silver has fallen nearly 42 per cent from its highest levels.
Gold prices across key cities on February 4 (per 10 grams):
- Delhi / Jaipur:
22K – ₹1,39,250 | 24K – ₹1,51,900 - Ahmedabad / Pune:
22K – ₹1,39,150 | 24K – ₹1,51,800 - Mumbai / Hyderabad / Chennai / Bengaluru / Kolkata:
22K – ₹1,39,100 | 24K – ₹1,51,750
Gold prices in India are influenced by several factors, including international market trends, import duties, taxes and currency fluctuations. Gold continues to hold strong cultural and financial importance in the country, especially as a preferred investment and a key part of weddings and festivals.
With market conditions changing frequently, investors and traders are closely tracking price movements to stay informed and make timely decisions.