Gold Rate Today 1 February 2026:On February 1 2026 gold prices in India generated news coverage because they experienced extreme price fluctuations while different markets showed different price patterns. Some sources indicate that gold maintains its high price level yet other sources show that futures markets experienced a strong price drop before the Union Budget 2026 presentation. Today’s gold rate discussion matters because it attracts attention from buyers investors and market observers who want to understand the situation.
Market reports indicate that retail gold prices in major Indian cities for 24-carat and 22-carat purity maintain their historical high levels despite futures trading on commodity platforms showing a price drop.
Gold Rate Today 1 February 2026 (₹ per gram)
24-Carat
22-Carat
- Delhi: ₹15,524
- Mumbai: ₹15,509
- Chennai: ₹14,900
- Kolkata: ₹15,509
- Bengaluru: ₹15,509
18-Carat
Gold prices in the 18-carat range between ₹12,689 and ₹12,800 per gram across different cities.
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MCX & Futures Market Today
The Multi Commodity Exchange (MCX) gold futures which reflect investor sentiment and near-term trading expectations have also been under pressure:
April gold futures traded around ₹1,50,849 per 10 g, showing correction from recent highs.
Traders closed their positions because they detected market risk and the current market price stands at approximately ₹30,000 below the previous peak value.
Futures Markets & Budget Day Impact
Cities show strong retail prices yet today commodity futures contracts for gold reached their lowest point. Market participants observed April gold futures on the Multi Commodity Exchange (MCX) opening at a major decline which reached 6% or higher during the day. Traders now sell precious metals futures because they seek to adjust their positions before major economic reports get released.
Analysts linked this decline to profit booking and investor caution just before India’s Union Budget for 2026-27 was presented on 1 February. The current level of volatility which exists in futures markets indicates which monetary and fiscal policy changes traders expect to happen in the future. These policy changes would affect which currencies get used and which interest rates get applied and which commodities get traded.
