Gold Rates In India Drop For 2nd Straight Day: 24K/10 Gms Falls Rs 14,200, MCX Gold Recovery Looks Fragile

Following a significant decline on Monday, gold prices in India fell precipitously on February 3, 2026, for the second day in a row. In India, the price of gold has dropped to Rs 15,175 per gram for 24 carat gold, Rs 13,910 per gram for 22 carat gold, and Rs 11,381 per gram for 18 carat gold.

Gold Price In India Today

Today, the price of 24k of 10 grams of gold in India was Rs 1,51,750, down Rs 1,420 overnight from Rs 1,53,170. Similarly, on Tuesday, the price of 24k of 100 grams of gold in India was Rs 15,17,500, down Rs 15,31,700 on Monday, indicating a price decrease of Rs 14,200 overnight.

Gold rates in India today for 22k of 10 grams reached Rs 1,39,100, which was Rs 1,40,400 yesterday representing a price drop of Rs 1,300 overnight whereas 22k of 100 grams of gold rates in India on Tuesday reached Rs 13,91,000 which was Rs 14,04,000 yesterday representing a price drop of Rs 13,000 overnight.

MCX Gold Outlook Today

" On the technical front, MCX Gold has seen some buying interest at lower levels after a sharp fall. However, the evening star pattern remains intact on the daily chart, and prices are trading below the 10 and 20 DEMA, with these DEMA lines acting as resistance. Momentum remains on the weaker side. Although buying has emerged at lower levels, stronger bullish price action is still needed to indicate a trend reversal. Immediate support is placed at 137,065, while resistance is seen in the 148,850- 150,630 range," commented Abhishek M Pelu - Research Analyst at Way2Wealth Brokers.

Spot Gold Prediction Today

"Spot Gold is likely to trade with positive bias after sharp selloff amid bargain hunting. However, sharp upside may be capped on strong dollar and rise in US treasury yields. Further, demand for safe haven may decline amid ease in geopolitical tension in Middle East. Additionally, hopes for aggressive interest rate cut by US Federal Reserve started fading after US President Donald Trump named former Fed Governor Kevin Warsh as his choice to succeed Jerome Powell as Fed Chair," commented the research analysts of ICICI Securities.

"Investors even expect him to rein in Fed's balance sheet. Meanwhile, USIndia trade deal announced by US President Donald Trump overnight cutting tariffs is likely to boost Indian rupee adding further pressure on domestic prices," they further added.

Gold & Silver Rates Fundamental Outlook Today

"Gold and silver prices are trading slightly higher today on the international bourses. We expect precious metals prices on Indian bourses to trade range-bound to slightly higher for the day; as gold prices rose, clawing back some losses after the abrupt unwinding of a record-breaking rally that had driven prices down 13% in just two days. Silver also advanced," commented the research analysts of Nirmal Bang Securities.

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