Gold Rate Today: The yellow metal prices slumped more than 12% to below $5,000 an ounce in its biggest daily decline since the early 1980s. Spot gold price closed 8.9% lower at $4,894.23 an ounce in New York. Silver price plunged 26% to settle at $85.20 an ounce.
MCX gold rate cracked by ₹33,113, or 18%, to close at ₹1,50,849 per kg on Friday, while MCX silver rate slumped by ₹1,07,971, or 27%, to ₹2,91,922 per 10 grams.
The global selloff was triggered by investors booking profits after a surge in the US dollar following US President Donald Trump’s nomination of former Federal Reserve Governor Kevin Warsh as replacement of chair Jerome Powell.
Notably, in 2025, gold recorded its best bull run since 1979, surging over 75% and over the past 20 years, gold prices have jumped by 1,500%.
Gold Rate in Mumbai
The gold price in Mumbai today was in the red, in line with the overall gold rate in India. The 24-karat gold price in Mumbai was ₹1,50,700 per 10 grams. Meanwhile, the price of 22-karat gold in Mumbai was ₹1,38,140 per 10 grams. On the other hand, the 18-karat gold rate in Mumbai was ₹1,13,025 per 10 grams.
Gold Rate in Kolkata
The gold price in Kolkata was in line with the trend seen in other major Indian cities on 1 February. The 24-karat gold price in Kolkata was ₹1,50,500 per 10 grams. Meanwhile, the 22-karat gold price in Kolkata stood at ₹1,37,958 per 10 grams, and the 18-karat gold rate in Kolkata was ₹1,12,875 per 10 grams.
Gold Rate in Hyderabad
The gold price in Hyderabad followed national and global trends. The 24-karat gold price in Hyderabad was ₹1,56,170 per 10 grams. The 22-karat gold was priced at ₹1,38,362 per 10 grams, and the 18-karat gold rate was ₹1,13,205 per 10 grams.
Gold Rate in Delhi
The gold price in Delhi reflected the overall gold rates across India on 1 February. The 24-karat gold price in Delhi was ₹1,50,440 per 10 grams. Meanwhile, the price of 22-karat gold in the national capital was ₹1,37,903 per 10 grams, while the rate of 18-karat gold was ₹1,12,830 per 10 grams.
Gold Rate in Chennai
The gold price in Chennai was in the red like in other major cities in India, as per bullion data for 1 February. The 24-karat gold price in Chennai was ₹1,51,140 per 10 grams, and the 22-karat gold price in the city was ₹1,38,545 per 10 grams. The 18-karat gold rate was ₹1,13,355 per 10 grams.
Gold Rate in Bangalore
The 24-karat gold price in Bengaluru was at ₹1,50,820 per 10 grams, on 1 February. Meanwhile, the 22-karat gold price in the city was ₹1,38,252 per 10 grams, and the 18-karat gold rate in Bengaluru was ₹1,13,115 per 10 grams.
Gold Rate in Ahmedabad
The gold price in Ahmedabad corresponded with the overall gold rate trend across India, according to bullion data. The 24-karat gold price in Ahmedabad was ₹1,50,900 per 10 grams. The 22-karat gold price in the city was ₹1,38,325 per 10 grams, and the 18-karat gold rate was ₹1,13,175 per 10 grams.
Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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