Gold and Silver Prices in India (February 2026): A Detailed Guide for Investors

 

Gold and Silver Prices in India (February 2026): A Detailed Guide for Investors

Gold Rate Today – February 2026: Latest 22K & 24K Prices, Silver Market Movement, and Buying Outlook 

Introduction: The Glittering Rollercoaster of 2026

Gold and silver have always been more than just metals in India; they are part of our culture, our festivals, and our family security. As we move through February 2026, we are witnessing one of the most volatile and exciting periods in the history of precious metals.

Just a few days ago, investors saw a sharp "crash," causing panic. However, as of February 5, 2026, the market has made a stunning comeback. Gold prices have jumped significantly, reclaiming key levels, while silver continues to show massive swings.

If you are planning to buy jewellery for a wedding, invest in coins, or simply want to understand where the market is heading, this detailed guide is for you. We have written this in simple, human language so that everyone—from a first-time buyer to a seasoned investor—can understand the complex world of bullion.

Current Gold and Silver Prices (As of Feb 5, 2026)

The market is moving fast. After a brief dip, prices have surged again due to global factors. Below is the snapshot of the latest rates.

Gold Prices (Per Gram)

Gold rates vary depending on purity. 24 Carat (24K) is pure gold, mostly used for investment (coins/bars). 22 Carat (22K) is used for jewellery because it is mixed with other metals to make it durable.

Purity	Price Per Gram (Approx)	Price Per 10 Grams (Approx)	Market Trend
24 Carat (Pure Gold)	₹15,944	₹1,59,440	UP (Strong Rebound)
22 Carat (Standard)	₹14,615	₹1,46,150	UP (High Demand)
18 Carat	₹11,958	₹1,19,580	UP (Moderate)

Note: These prices are indicative and based on MCX futures and spot market averages. Retail prices at your local jeweller may differ due to GST (3%), making charges, and local association rates.

Silver Prices

Silver is often called the "poor man's gold," but in 2026, it is performing like a king. Industrial demand is pushing silver prices to record highs, although it remains very volatile.

• Silver Futures (MCX): Approx. ₹3,65,000 per Kg

• Spot Market: Ranges between ₹3,00,000 to ₹3,35,000 per Kg depending on the city.

Key Takeaway: Gold has jumped by nearly ₹5,500 in a single session recently, showing that the "bull run" (rising trend) is far from over.

City-Wise Gold Rates (Feb 5, 2026)

Prices in India are not the same everywhere. They change based on local taxes, transportation costs, and the local bullion association's decisions. Here is a look at the rates in major metro cities for 22 Carat Gold (10 grams).

• Delhi: ₹1,46,300

• Mumbai: ₹1,46,150

• Chennai: ₹1,49,000 (Traditionally higher due to high demand)

• Kolkata: ₹1,46,150

• Bangalore: ₹1,46,150

• Hyderabad: ₹1,46,150

• Kerala: ₹1,46,150

Advice: Always check the live rate with your trusted local jeweller before making a purchase.

Why Are Prices So High? The 3 Big Reasons

You might be wondering, "Why is gold becoming so expensive?" It is not just one reason. It is a mix of global drama and economic shifts. Let’s break it down simply.

1. The US-India Trade Deal & Tariffs

In 2026, trade policies between the USA and India have shifted. Changes in import duties and trade agreements often create uncertainty. When the market is unsure, big investors get scared of paper money (stocks, bonds) and run towards Gold, which is considered a "Safe Haven."

2. The US Dollar Factor

Gold and the US Dollar are like enemies on a seesaw. When the Dollar gets weak, Gold prices go up. Recently, the US Dollar has shown weakness due to expected interest rate cuts by the Federal Reserve. This makes gold cheaper for other countries to buy, increasing demand and driving up the price in India.

3. Geopolitical Tensions

Sadly, the world is witnessing conflicts in various regions. During times of war or political instability, countries and central banks (like the RBI or the People's Bank of China) buy massive amounts of gold to protect their wealth. This "Central Bank Buying" is a major reason why prices are staying high.

Silver: The Hidden Hero of 2026

While everyone talks about gold, Silver is silently making huge moves. Why? Because silver is not just for anklets and silverware anymore.

• Industrial Use: Silver is a critical component in Electric Vehicles (EVs), Solar Panels, and 5G Technology. As the world moves towards green energy in 2026, the demand for silver is exploding.

• Shortage: There is a global shortage of silver. Our consumption is outpacing the rate at which we can extract it from the ground.

• Volatility: Be careful! Silver prices jump up and down much faster than gold. It is a high-risk, high-reward investment.

Is This the Right Time to Buy?

This is the most common question: "Should I buy now or wait for the price to drop?"

For Jewellery Buyers (Weddings/Gifts)

• Do not wait for a crash. If you have a wedding in the family in 2026, buy in small portions now. The long-term trend is upward.

• Book in advance: Many jewellers offer schemes where you can book the gold rate today and take delivery later. This protects you from future price hikes.

For Investors

• Buy on Dips: The market is volatile. When you see the price drop by ₹2,000 or ₹3,000 (like the recent correction), that is your buying opportunity.

• The "SIP" Strategy: Do not put all your money in at once. Invest a fixed amount every month. This averages out your buying cost.

• Diversify: Don't just buy physical gold. Look at Sovereign Gold Bonds (SGBs) or Gold ETFs. They are safer and give better returns because you don't pay making charges.

2026 Price Forecast: Where is Gold Heading?

Experts from major financial institutions are bullish (positive) about Gold in 2026.

• Short Term: Prices may fluctuate between ₹1.45 Lakh to ₹1.60 Lakh per 10g.

• Year-End Target: Many analysts predict Gold could touch ₹1.75 Lakh per 10g by the end of 2026 if geopolitical tensions continue.

• Silver Prediction: Silver has the potential to outperform gold in percentage terms. Some forecasts suggest it could cross ₹4 Lakh per Kg if industrial demand peaks.

Disclaimer: These are predictions based on current trends. Markets are unpredictable. Always consult a financial advisor.

Physical Gold vs. Digital Gold: What Should You Choose?

In 2026, you don't need a locker to store gold. Let's compare the options.

1. Physical Gold (Jewellery/Coins)

• Pros: You can wear it; emotional value; easy to sell for cash in emergencies.

• Cons: High "Making Charges" (can be 10-20%); risk of theft; storage costs; purity concerns.

2. Sovereign Gold Bonds (SGBs)

• Pros: Issued by the Govt of India; 2.5% extra interest per year; NO making charges; tax-free capital gains if held till maturity.

• Cons: Lock-in period of 8 years (exit possible after 5); you don't get physical metax savingsigital Gold / ETFs

• Pros: Buy and sell instantly on your phone; pure 24K gold; start with as little as ₹100.

• Cons: Some platforms charge management fees; usually backed by physical gold stored in vaults.

Recommendation: For pure investment, SGBs are the best choice fortax savingsg and safety. For usage, buy Hallmarked Jewellery.

Factors Affecting Gold Prices in India

To be a smart investor, you must know what moves the needle.

1. Import Duty: India imports almost all its gold. If the government hikes the import duty (tax), gold becomes expensive immediately.

2. Monsoon Rains: Believe it or not, a good monsoon leads to a good harvest for farmers. Rural India buys 60% of the country's gold. Good rains = High Gold Demand.

3. Inflation: When the cost of living goes up (Inflation), money loses value. People buy gold to protect their purchasing power.

4. Wedding Season: The Indian wedding season sees massive buying, often pushing prices up locally even if global prices are stable.

Important Tips for Buying Gold

If you are going to the market today, keep these points in mind to save money and avoid fraud.

• Check for Hallmarking: Only buy HUID (Hallmark Unique Identification) jewellery. It guarantees the purity (22K or 18K). Do not buy non-hallmarked gold.

• Negotiate Making Charges: You cannot bargain on the gold rate, but you CAN bargain on making charges. You can often get a discount of 5-10%.

• Get a GST Bill: Always insist on a proper tax invoice. It is essential for resale or exchange later.

• Check the Weight: Ensure the stone weight is deducted from the gold weight. You should not pay the price of gold for the weight of artificial stones.

Conclusion: The Golden Path Ahead

The year 2026 is shaping up to be a historic year for gold and silver. The prices we are seeing today—₹1.59 Lakh for gold and ₹3.65 Lakh for silver—might seem high, but history shows us that precious metals preserve wealth over the long term.

Summary of Action Plan:

• Stay Calm: Do not panic during sudden price drops.

• Invest Wisely: Use SGBs for long-term savings.

• Stay Updated: Prices change daily. Keep an eye on the news.

Gold is not just an investment; it is insurance for your financial future. Whether you buy a small coin or a heavy necklace, you are buying a piece of security.

Call to Action: Was this information useful to you? Share this article with your friends and family on WhatsApp so they don't make a mistake while buying gold. If you have questions about the latest rates in your city, drop a comment below!

Frequently Asked Questions (FAQs)

Q: Will gold prices decrease in the coming months? A: Significant drops are unlikely due to global tensions, but small corrections (dips) will happen. Use those dips to buy.

Q: Is 22K gold good for investment? A: No. 24K coins or bars are better for investment. 22K is best for jewellery only.

Q: Can I sell digital gold for cash? A: Yes, most platforms allow you to sell digital gold instantly and credit the money to your bank account.

Disclaimer: This article is intended for informational and learning purposes only. Gold and Silver markets are subject to risks. Please consult your financial advisor before making any major investment decisions.