Gold and silver price on February 3: Gold rate slips from record high as US dollar index rebounds

Gold prices slipped from record-high levels in early trade on Monday, February 3, mainly due to weak global trends.

The US dollar index rebounded more than 1% to trade above 109 levels in early Asian trade, which hit the precious metal’s appeal as a hedge against inflation.

Gold prices slipped by ₹10 to ₹84,480 per 10 grams in major cities. The yellow metal hit an all-time high of ₹84,490 per 10 grams on Saturday. Spot gold dropped by 0.75% to $2,779 an ounce in early Asian trade on Monday.

Gold Price Today in India (February 3, 2025)

In Delhi markets, 24K gold prices dropped by ₹10 to ₹84,630 per 10 grams and 22K gold to ₹77,590 per 10 grams. The 24K gold in Mumbai fell by ₹10 to ₹84,480 per 10 grams and 22K gold to ₹77,440 per 10 grams.

Gold Price Today in Major Cities:

Silver Price Today in India (February 3, 2025)

Silver prices dropped by ₹100 to ₹99,400 per kilogram in early trade on Monday as a strong dollar hit its appeal. The white metal fell more than 1.6% in global markets, which weighed on domestic prices.

Silver traded flat at ₹99,500 per kg in major Indian cities on Saturday. Spot silver was down 1.62% to $30.79 an ounce in early Asian trade.

Silver Price Today in Major Cities:

Comparison of Gold and Silver Prices This Week

Gold prices started the week lower due to a surging dollar in overseas markets. The metal had gained ₹2,070 or 2.5% in the last week, its sixth straight week of gains. Silver prices also slipped in early trade on Monday after gaining ₹2,000 per kg last week.

Here’s a comparison of gold and silver prices from earlier this week: