Gold and Silver price on February 5: Gold rallies to all-time high on weak dollar

Gold prices hit all-time high levels in early trade on Wednesday, February 5, following losses in the US dollar and some local demand. Gold breached the ₹85,000 per 10 grams mark for the first time on Tuesday, gaining up to ₹1,150 in a single day, in line with firm global trends and safe haven demand.

The US dollar index dropped to 107 levels after weak US jobs data raised expectations of rate cuts by the US Federal Reserve.

Spot gold gained 0.24% to trade near all-time levels at $2,849 an ounce in early Asian trade on Wednesday. Gold hit a record high of $2,853 an ounce in early trade.

Check the latest gold and silver prices across major cities today:

Gold Price Today in India (February 5, 2025)

In Delhi markets, 24K gold prices increased by ₹10 to ₹85,360 per 10 grams and 22K gold to ₹78,260. The 24K gold in Mumbai was up by ₹10 to ₹85,210 per 10 grams and 22K gold to ₹78,110 per 10 grams.

Below is a detailed breakdown of gold prices across key cities:

Gold Price Today in Major Cities:

Silver Price Today in India (February 5, 2025)

Silver prices eased by ₹100 to ₹99,400 per kg in early trade on Wednesday as the US imposing tariffs on China raised fears of weak metal demand in the world’s largest metal importer.

The white metal dropped by ₹1,000 to ₹98,500 per kg on Tuesday after China imposed retaliatory tariffs on select US goods.

Firm global trends, however, capped losses in the metal. Spot Silver rose by 0.06% to $32.15 an ounce in early Asian trade.

Silver Price Today in Major Cities:

Comparison of Gold and Silver Prices This Week

Gold prices raced to a record high level on Wednesday after a brief pause on Monday. Weakness in the US dollar and safe haven demand is aiding the precious metal prices.

Silver prices have eased due to worries over weak demand following a tariff war.

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

All Mumbai Rates