Amid growing uncertainties in the global economy, including trade tensions and changes in monetary policies, in the international market, gold prices have reached an all-time high, surpassing $2,800 per ounce. The sharp increase is primarily driven by factors to renewed trade disputes, with the U.S. President recently threatening to impose a 25% tariff on imports from Canada, Mexico, and China.
In India, gold prices mirrored the global rise, reaching Rs 84,900 per 10 grams in New Delhi on January 31. This surge in gold prices has been driven by a mix of strong domestic demand and global trends.
This rise is largely driven by increasing demand for safe-haven assets, especially with renewed tariff threats from the US against Mexico, Canada, and China, making investors flock to gold. In addition to this, the expectation of interest rate cuts by major central banks, like the European Central Bank, has further fueled gold’s upward trend.
As India prepares for its 2025-26 Union Budget, market participants are keenly watching for any changes in duty structures, which could influence gold prices in the country.
Gold and silver rates today, February 1
The 24-carat gold rate in India was Rs 84,340 per 10 grams on February 1. The rate for 24-carat gold per gram is Rs 8,434. While the rate of 22-carat gold was Rs 77,310 per 10 grams.
On February 1, 24-carat gold prices surged to Rs 81,220 for 10 grams, while silver surged to Rs 99,600 per kilogram, as per Good Returns.
Also ReadIt’s a smart start for markets on Budget Day- Nifty, Sensex post steady gains, bluechips, auto, FMCG lead the pack Gold rate in Mumbai on February 1
The Gold rate in Mumbai is Rs 84,340/10 grams today. On January 21, the gold was available for 84,330/10 grams.
Silver rate in Mumbai on February 1
Silver rate in Mumbai was Rs 99,600/Kg on February 1, while it was priced at Rs 96,500/Kg on the previous day.
Gold rate in Delhi on February 1
On February 1, the gold rate in Delhi is Rs 84,290/10 grams for 24 carat. The gold was quoted at Rs 77,460/10 grams for 22 carat.
Silver rate in Delhi on February 1
The silver rate in Delhi was Rs 99,600/Kg on February 1.
» Read More
