India’s Gold Prices Today: February 4 Market Trends Across Major Cities

Gold opened stronger on February 4, 2026, buoyed by international spot prices hovering near $2,650 per ounce and a stable rupee around ₹84/USD. Investors and buyers in wedding hubs like Delhi and Mumbai saw per-gram rates climb modestly, influenced by local making charges (₹500-1,200/g for 22K jewelry), 3% GST, and 1% TCS on purchases above ₹2 lakh. This uptick follows a brief dip earlier in the week, signaling renewed festive momentum ahead of potential Dhanteras demand. Sovereign gold bonds at similar rates offer 2.5% annual interest plus tax-exempt maturity ideal for long-term holdings over physical bars.

City-Wise Breakdown
In Delhi, 24K gold trades at ₹15,409/gram (10g: ₹1,54,090), 22K at ₹14,126/g, and 18K at ₹11,561/g highest among metros due to premium demand. Mumbai mirrors closely with 24K at ₹15,394/g, 22K ₹14,111/g, 18K ₹11,546/g, favored for bullion trades. Southern markets show Chennai at 24K ₹15,373/g (22K ₹14,030/g, 18K ₹11,488/g), Bangalore ₹15,317/g (22K ₹14,040/g, 18K ₹11,488/g), and Hyderabad topping at 24K ₹15,429/g (22K ₹14,126/g, 18K ₹11,561/g). Variations stem from state duties and jeweler premiums; always verify live quotes.

Key Highlights

• Daily Movement: Uniform +₹1-10/g rise across purities; MCX futures steady at ₹75,500/10g.
• ​Influencers: US Fed rate pause expectations, geopolitical tensions boost safe-haven appeal.
• ​Investment Tips: Opt for 24K coins/bars for purity; 22K for ornate jewelry; track weekly averages to time buys.
• ​Outlook: Mild upside likely short-term; monitor Budget 2026 for import duty tweaks.

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Sources: GoodReturns.in (Feb 4, 2026); ABPLive.com (Feb 4, 2026); PolicyBazaar.com