Gold Price Today in India: Sharp Rebound Amid US-India Trade Deal and Global Uncertainty

Gold Price Today in India (3rd Feb 2026) Live: Gold prices have seen a sharp rebound in rates on February 3. MCX Gold Futures have risen sharply as the glittering yellow metal grabbed the spotlight following the US–India trade deal. The April Futures contract for 24K gold surged 5% to Rs 1,51,902 per 10 grams. Internationally, gold rebounded from a near one-month low, with spot gold rising nearly 4% to $4,837.16 per ounce and US gold futures for April delivery climbing 4.5% to $4,859.30 per ounce. This rally comes amid limited economic data this week due to a partial US government shutdown. This might has pushed investors toward safe-haven assets like gold. The US-India trade agreement also played a major role in the rally. With US President Donald Trump reducing tariffs to 18% from 50%, gold in India saw strong buying momentum. Investors and traders will continue to track gold prices closely as the combination of global cues and trade deal optimism drives early-market buying. According to a Reuters update, the surge in gold prices have led to growing demand for 'tokenised' gold. It is a fast-growing niche of the digital asset market --- using markers issued on a blockchain by crypto firms and backed by an equivalent amount of physical gold held in a vault. It allows retail and traditional investors to dabble in the yellow metal without taking physical delivery. But experts warn that its use caries significant custody and regulatory risks that are not always apparent to investors. While gold tokens are still small compared to the overall digital asset market, they are growing fast. There were nearly 20 gold tokens with a combined market capitalization of almost $6 billion as of Monday, according to data from CoinGecko. The overall market has grown more than fourfold since ‍the end of ⁠2024. Gold ETFs also climbed with gold prices. Tata Gold Exchange Traded Fund traded at NAV Rs 15.82, gaining 2.40% today with a one-year return of 98.11%. Nippon India Gold BeES rose 3.95% with NAV Rs 135.86 and a one-year gain of 99.30%. Zerodha Gold ETF gained 3.03%, with a NAV at Rs 25.81 and a one-year return of 99.64%. Gold funds are climbing at a relatively steadier pace than silver and continue to offer near‑doubling over a one‑year window. Read More: Silver, Gold prices recoup, spurs big moves all major Gold and Silver ETFs Chennai: 24-karat gold is priced at around Rs 15,567 per gram, while 22-karat gold costs about Rs 14,270. The 18-karat rate stands near Rs 12,210 per gram. Mumbai: Gold prices in the city are slightly lower, with 24-karat gold at roughly Rs 15,393 per gram. The 22-karat rate is close to Rs 14,110, and 18-karat gold is trading near Rs 11,545 per gram. Delhi: In the national capital, 24-karat gold is available at about Rs 15,408 per gram. The 22-karat variety costs nearly Rs 14,125 and 18-karat gold is priced around Rs 11,560 per gram. Kolkata: Gold rates in Kolkata are similar to Mumbai, with 24-karat gold at around Rs 15,393 per gram, 22-karat gold at Rs 14,110, and 18-karat gold near Rs 11,545 per gram. “Gold and silver are showing early signs of stabilisation after last week’s historic selloff, with both metals rebounding modestly as investors reassess whether the downturn was structural or simply an overshoot,” Hareesh V, Head of Commodity Research, Geojit Investments said. He added that the main triggers for bullion remain intact which suggesting a correction was largely due short term drivers rather than any underlying big fundamentals. ” Prices are now attempting a mild recovery as markets digest the impact of margin hikes, a stronger U.S. dollar, and repositioning linked to the Fed chair nomination,” he added. He added that the trading sessions are going to be choppy and a sustained recovery may unfold. However, further liquidation risks will only re-emerge if prices break last week’s lows, which currently serve as key support levels.” Spot gold was trading near the $4,930/oz mark, up nearly 6% on day. The prices of gold are recovering as safe-haven demand continues to weigh on the precious metal. India's FM Nirmala Sitharaman, yesterday said that investors are rushing to gold over looming global uncertainties, and lack of confidence in other currencies. “It also shows that investors do not have confidence in any one particular currency, and hence the rush to buy gold,” Sitharaman said, according to a report published by PTI. Gold and silver rates recovered sharply from recent lows today, tracking positive sentiment after the India-US trade deal and despite the absence of major US economic data due to a partial government shutdown. MCX gold was trading around 5% higher at Rs 1,50,000 per 10 grams. The HDFC Gold Exchange-Traded Fund (ETF) led the gains with an increase of around 6%. The Axis Gold ETF followed closely, rising by nearly 5.6%, while the Baroda BNP Paribas Gold ETF gained about 5%. Gold prices on the Multi Commodity Exchange (MCX) surged back above the Rs 1.50 lakh mark on strong buying momentum. The yellow metal jumped by over 4%, gaining nearly Rs 6,300 to reach Rs 1,50,298 per 10 grams. During early trades, gold touched an intraday high of Rs 1,50,614, recovering from the sharp dec Experts have said that the prices of gold and silver are bouncing back to their actual levels, and correcting themselves after witnessing high volatility over the past few trading sessions. "It's a reasonable call that this is somewhere around fair value potentially, if you consider that we saw a market behaving fairly irrationally for a few weeks there," Reuters quoted Kyle Rodda, a senior market analyst at Capital.com, as saying. On MCX, the most-active April contract of gold was trading at Rs 2,57,524 per kg. The contract is up 5.5%. The contract had hit an intraday low of Rs 1,47,215 per kg. "The current prices take gold and silver back to where they were, early in the second half of January." Reuters quoted Kyle Rodda, a senior market analyst at Capital.com as saying. “MCX Gold futures are trading within the ₹1,38,000–₹1,48,000 zone after posting record highs near ₹1,80,779. Volatility remains elevated following the melt-up and subsequent profit taking, but prices are still holding above major structural supports.” Ponmudi R, CEO of Enrich Money said. He added that the rising channel structure remains intact, with pullbacks being absorbed by buyers. “The ₹1,43,000–₹1,45,000 area, earlier a support, is now acting as immediate resistance. ” the analyst said. Further, a sustained move above Rs 1,50,000 could revive upside momentum toward Rs 1,65,000–Rs1,70,000, keeping the medium-term outlook positive despite near-term swings, he said. "Gold rose more than 2.5% to above $4,780/oz on Tuesday, as bargain hunting emerged after two consecutive sessions of strong selling. The precious metal had fallen nearly 5% in the previous day, extending Friday’s slump, which marked its steepest decline in more than a decade. The selloff was triggered by news of President Trump’s nomination of Kevin Warsh as the next Federal Reserve Chair, who is viewed as more hawkish than other contenders, raising concerns about tighter monetary policy. Despite recent volatility, gold remained supported by strong central bank purchases and the so-called “debasement trade,” as investors rotated into physical assets from currencies and bonds amid growing fiscal concerns. Global uncertainty, as well as worries over the Fed’s independence, further reinforced gold’s appeal as a safe-haven asset. MCX Gold April is likely to advance after three sessions of weakness, to Rs 147,000/10g as prices have recovered in the world markets too," said Jigar Trivedi, Senior Research Analyst at Indusind Securities. Gold prices saw a sharp recovery today up 5% as the precious metal is trading at the $4,850/oz mark after a sharp sell-off. Yesterday the precious metal was trading at the $4,500/oz level. The prices had crashed on the back of rebound in the dollar index along with the nomination of Kevin Warsh as the next chair for US Fed. Also the margin hike implemented by the CME group on the futures contracts of gold had weighed on the prices.