Gold prices in India saw a significant rebound on February 4, 2026, recovering from the steep declines observed earlier in the month. The rally comes after a correction triggered by heavy profit-booking following record highs in late January. Renewed demand from both domestic and global investors, as well as safe-haven buying, has pushed prices upward across all major purity levels.
According to data from Goodreturns, 24-carat gold is currently priced at Rs 15,394 per gram, while 22-carat gold stands at Rs 14,111 per gram. The 18-carat variant is trading at Rs 11,546 per gram. These price levels indicate a recovery of over 4 percent in a single trading session, reflecting the market’s confidence in gold as a stable asset amid global economic uncertainties.
The recent correction in gold prices followed an extraordinary rally in late January. On January 29, 24-carat gold reached a lifetime high of Rs 1,83,000 per 10 grams, fueled by strong demand and geopolitical uncertainties. However, rapid profit-booking led to a sharp decline of nearly 17 percent, wiping out more than Rs 30,000 in value within a few days. Analysts attributed this fall to traders booking gains after the historic surge and short-term market volatility.
MCX gold futures also showed strong gains on Wednesday. Prices climbed by Rs 6,376, or 4.15 percent, to trade near Rs 1,60,000 per 10 grams. Futures market activity suggests increased investor participation and renewed optimism for the yellow metal, indicating that gold remains an attractive hedge against inflation and global financial risks.
Market experts highlight several factors behind the recovery. Domestic demand has surged as consumers and traders view the current price dip as a buying opportunity. International trends also play a role, with safe-haven demand rising due to concerns over currency fluctuations, inflation, and geopolitical uncertainties. These elements collectively support gold’s position as a preferred investment during uncertain times.
In regional markets, gold prices vary slightly due to local taxes and making charges. In Delhi, 24-carat gold is priced at Rs 15,400 per gram, while in Mumbai it is Rs 15,395 per gram. Chennai reports 24K gold at Rs 15,396 per gram, Bangalore at Rs 15,392, and Hyderabad at Rs 15,391 per gram. These minor variations reflect local market dynamics and supply-demand factors.
Despite the earlier correction, analysts suggest that gold may continue to see moderate gains in the short term, as investors remain cautious about global economic conditions. Physical demand from jewellery makers and retail buyers, coupled with continued interest in gold as an investment asset, is likely to sustain market momentum in the coming weeks.
Overall, the rebound on February 4, 2026, demonstrates that gold retains its value as a preferred investment during market volatility, and investors are once again showing confidence in the yellow metal as a secure store of wealth.
