February 18 Gold Silver Crash: How Rs 8000 Silver Fall Impacts Wedding Jewellers
Gold and silver rates in India today, February 2, 2026, show minor dips amid global cues and post-budget stability. From an Indian investor’s lens, these metals remain key hedges against inflation and rupee volatility.
Gold Prices Today
Gold rates for 24K, 22K, and 18K per gram across major cities reflect slight declines, with 24K averaging around ₹16,000 after recent corrections from January highs. Chennai leads with premiums due to southern demand, while northern cities like Delhi align closely with MCX benchmarks. Prices exclude GST, TCS, and making charges—always verify locally.
| City | 24K (₹/g) | 22K (₹/g) | 18K (₹/g) |
| Chennai | 16,254 | 14,899 | 12,799 |
| Mumbai | 16,057 | 14,719 | 12,043 |
| Delhi | 16,072 | 14,734 | 12,058 |
| Kolkata | 16,057 | 14,719 | 12,043 |
| Bangalore | 16,057 | 14,719 | 12,043 |
| Hyderabad | 16,057 | 14,719 | 12,043 |
| Kerala | 16,057 | 14,719 | 12,043 |
| Pune | 16,057 | 14,719 | 12,043 |
| Vadodara | 16,062 | 14,724 | 12,048 |
| Ahmedabad | 16,062 | 14,724 | 12,048 |
Silver Prices Today
Silver trades at ₹349.90 per gram nationally, down marginally, driven by MCX futures at ₹265,652 per kg and international spot adjustments. Southern cities like Chennai and Hyderabad show discounts due to lower import duties, while metros hold steady. Recent volatility saw January peaks at ₹410/kg before corrections.
| City | Gram (₹) | Kg (₹) |
| Chennai | 319.90 | 3,19,900 |
| Mumbai | 349.90 | 3,49,900 |
| Delhi | 349.90 | 3,49,900 |
| Kolkata | 349.90 | 3,49,900 |
| Bangalore | 349.90 | 3,49,900 |
| Hyderabad | 319.90 | 3,19,900 |
| Kerala | 319.90 | 3,19,900 |
| Pune | 349.90 | 3,49,900 |
| Vadodara | 349.90 | 3,49,900 |
| Ahmedabad | 349.90 | 3,49,900 |
Copper Prices Today
Copper rates hover at ₹1,237 per kg amid industrial slowdown signals, down 4% daily on LME cues and domestic demand from electronics and construction. Per gram, it’s ₹1.24, with minimal city variations as it’s traded nationally via MCX. Investors eye it for diversification beyond precious metals.
| Unit | Price (₹) | Change |
| Per Gram | 1.24 | -0.05 |
| Per Kg | 1,237 | -49.7 |
Platinum Prices Today
Platinum stands at around ₹4,745 per gram (₹47,450 per 10g, ₹4,74,500 per kg), stable post-January fluctuations influenced by auto sector use in catalysts. Major cities see uniform pricing around ₹6,400-6,500 per 10g in some updates, but spot aligns lower; check jewelers for purity premiums. It’s gaining traction as a gold alternative for industrial portfolios.
| Unit | Price (₹) |
| Per Gram | 4,745 |
| Per 10g | 47,450 |
| Per Kg | 4,74,500 |
Indian Market Insights
In India, gold and silver prices track MCX, London fixes, and USD-INR rates—rupee weakness lately propped up imports despite Fed pauses. Post-Union Budget 2026, flat trends signal caution; silver’s 47% January surge cooled sharply.
Cultural staples, these metals fund weddings (gold sovereigns in South India) and rural savings (silver coins). Digital gold via apps like Paytm offers entry at ₹1, bypassing physical storage risks.
Investment Tips
Buy on dips below MCX support (gold ₹1,45,000/10g); sovereign gold bonds yield 2.5% interest plus tax-free maturity. Silver suits higher risk—aim for ₹3 lakh/kg dips. Track RBI forex reserves and US yields for reversals. Diversify: 10-15% portfolio in metals shields inflation, per experts.
Future Outlook
Experts predict gold at ₹1,70,000/10g by Diwali 2026 if geopolitical tensions persist, silver to ₹4 lakh/kg on green energy demand. Copper may rebound with infra push; platinum eyes EV catalysts. Monitor Trump admin tariffs impacting imports—India’s 15% duties stay.
