Gold rates fell slightly to ₹1,53,160 per 10g for 24K on February 3, 2026, pressured by US tariff cuts boosting jewelry exports and trimming import premiums. Prices steady in Delhi, Mumbai, Chennai, Bangalore, Hyderabad at ₹15,316/g amid global stabilization.
Price Snapshot
Delhi: ₹1,53,160/10g (22K ₹1,40,390); Mumbai, Chennai, Bangalore, Hyderabad match at ₹1,53,160/10g. Minor jeweler premiums apply; MCX futures flat near ₹95,500.
Key Highlights
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Tariff Tailwind: US cut to 18% on gems/jewelry revives exports (US 30-40% share), lowers premiums, caps prices short-term.
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Trend Update: Down ₹840 from Feb 1 highs; global spot $3,320/oz (+0.3%), rupee 83.2/$ aids buyers.
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Purity Variants: 22K ₹14,039/g; 18K ₹11,487/g nationwide.
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Market Drivers: Profit-taking post-Jan rally; wedding demand supports floor at ₹1,50,000/10g.
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Investor Advice: Buy dips for long-term; sovereign bonds alternative amid yields.
Outlook
Deal favors jewelers over investors; rebound likely to ₹1,55,000 on Fed cuts, geopolitics. Track MCX expiry.
Sources: GoodReturns.in, Moneycontrol.com