Gold Price down Rs 28,000: Check today gold price in major cities

Gold Price: Comparing February 3, 2026, to last week is like looking at two different worlds. We have moved from a historic “gold rush” peak to a massive “post-Budget crash.”

Gold is currently much cheaper than it was at its peak last Thursday, though it is attempting a minor recovery today from the rock-bottom prices seen over the weekend.

The variation in the gold market has been one of the most dramatic shifts in history. If you are looking at the price today, February 3, 2026, compared to the record highs of January 29, the drop is indeed staggering—nearly Rs 28,000 per 10 grams in less than a week.

While the market is attempting a small recovery (rebound) this morning, it is still trading at a massive “discount” compared to last Thursday’s peak.

Price Comparison (Per 10g of 24K Gold)(Date, Rate (24K/10g)Context):

Jan 29 (Last Thursday) – Rs 1,81,330 – All-time high peak

Jan 30 (Last Friday) – Rs 1,67,998 – First major crash (Profit booking).

Feb 1 (Sunday) – Rs 1,60,580 – Budget Day (Speculation/Volatility)

Feb 2 (Monday) – Rs 1,51,530 – Post-Budget “Bloodbath”

Feb 3 (Today)- Rs 1,53,160 – Minor rebound.

Why the massive difference?

If you compare today’s price to exactly one week ago (Jan 27), gold is down by roughly Rs 8,000– Rs 10,000. If you compare it to the peak last Thursday, the drop is a staggering Rs 28,000+.

The “Post-Budget” Effect: While the Union Budget didn’t slash import duties as much as traders hoped, the lack of new supportive policies triggered a massive sell-off.

Global “Warsh” Shock: The nomination of Kevin Warsh as the US Fed Chair caused the US Dollar to spike, which historically makes gold crash.

Profit Booking: After gold hit nearly Rs 1.82 lakh last week, investors “panicked” and sold their holdings to lock in profits, causing a domestic supply surge.

Today’s gold price of Rs 1,53,160 is a significant down up to Rs 28,000 compared to last week’s Rs 1,81,330. Many jewelers are seeing a rush of retail buyers today who missed out on the lower rates last year.

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