Gold and silver prices witnessed a significant downturn in the domestic futures market on Monday, February 2, 2026. This notable drop follows the recent Budget 2026 announcement, providing a measure of relief to consumers.
Market Movements for Gold Futures
On the Multi Commodity Exchange (MCX), gold futures for the February 5, 2026 expiry began trading on Monday at Rs 1,39,868 per 10 grams. This marks a decrease from the previous trading day’s closing price of Rs 1,42,510. By 10:00 AM on February 2, the gold contract was trading at Rs 1,35,589, reflecting an approximate fall of Rs 6,900 from its prior closing value. In early trading, gold futures had reached a high of Rs 1,41,085.
Silver Futures and City-Wise Rates
Similarly, silver futures for the March 5, 2026 expiry on the MCX also saw a substantial decline, trading at Rs 2,48,875 per kilogram. This represents an approximate drop of Rs 16,700 compared to the previous day’s closing price. During initial trading hours, silver futures touched a high of Rs 2,67,501.
Consumers seeking to understand the daily prices of gold and silver in various Indian cities can find detailed information. For instance, in Delhi, 24-carat gold was priced at Rs 1,51,680, 22-carat at Rs 1,39,050, and 18-carat at Rs 1,13,800 per 10 grams. Similar variations were observed in cities like Mumbai, Chennai, Kolkata, Ahmedabad, Lucknow, Patna, and Hyderabad for 24, 22, and 18-carat gold.
