Gold Rates Rally For 2nd Day In Row: Gold Rate In Chennai Jump Higher Than Hyderabad; 24K, 22K, 18K Gold Price

Gold rates in India rallied for the second time in a row on February 4th, however, the prices saw a different scale of rise. For instance, gold rates in Chennai climbed greater than gold rates in Hyderabad. 10 grams gold price is now above Rs 1.60 lakh in Hyderabad but above Rs 1.62 lakh in Chennai. Gold rates have rebounded from their last week's selling pressure as buying sentiment heightened due to geopolitical tensions between the US and Iran.

Spot gold price has reclaimed above $5,000 per ounce mark, and MCX gold is trading around Rs 1.60 lakh per 10 grams mark. The prices have surged by 4% to 5%. In the previous session, spot gold zoomed by over 6%, marking it biggest daily rally since 2008.

As per Trading Economics, geopolitical tensions also lifted the metal's safe-haven appeal after US forces downed an Iranian drone near an aircraft carrier in the Arabian Sea, although President Donald Trump said diplomacy remains active, with the White House confirming US-Iran talks are still scheduled for Friday. Meanwhile, expectations for rapid Federal Reserve rate cuts eased after Trump nominated Kevin Warsh as Fed chair, though markets still price in two cuts this year, likely around mid-year and later in 2026. Separately, President Trump signed a bill to end the partial shutdown, but the delay of the monthly jobs report leaves no new signals on the health of the US labor market.

Gold Rates In India:

Gold Rates In Chennai:

10 grams gold price surged by Rs 6,890 to Rs 1,62,560 in 24 carat, climbed by Rs 6,300 to Rs 1,49,000 in 22 carat and rose by Rs 5,400 to Rs 1,27,500 in 18 carat.

Gold prices in 100 grams also skyrocketed by a whopping Rs 68,900 to Rs 16,25,600 in 24 carat, soared by Rs 63,000 to Rs 14,90,000 in 22 carat, and zoomed by Rs 54,000 to Rs 12,75,000 in 18 carat.

8 grams gold prices in this city stood at Rs 1,30,048 in 24 carat, at Rs 1,19,200 in 22 carat and at Rs 1,27,500 in 18 carat. The prices rose by Rs 4,320 to Rs 5,512 on February 4th.

The cheapest gold stood at Rs 16,256 per gram for 24 karat gold, Rs 14,900 per gram for 22 karat gold and Rs 12,750 per gram for 18 karat gold (also called 999 gold). Here, the prices rose by Rs 540 to Rs 689.

Gold Rates In Hyderabad:

In this city, 10 grams gold price climbed by Rs 6,600 to Rs 1,60,530 in 24 carat, rose by Rs 6,050 to Rs 1,47,150 in 22 carat, and surged by Rs 4,950 to Rs 1,20,400 in 18 carat.

Meanwhile, 100 grams gold rates advanced by Rs 66,000 to Rs 16,05,300 in 24 carat, jumped by Rs 60,500 to Rs 14,71,500 in 22 carat, and zoomed by Rs 49,500 to Rs 12,04,000 in 18 carat.

The rate of 8 grams gold stood at Rs 1,28,424 in 24 carat, at Rs 1,17,720 in 22 carat, and at Rs 1,20,400 in 18 carat. These were up by Rs 3,960 to Rs 5,280 in a single-day.

Further, the gold price in Hyderabad was at Rs 16,053 per gram for 24 karat gold, Rs 14,715 per gram for 22 karat gold and Rs 12,040 per gram for 18 karat gold (also called 999 gold).

How US-India Trade Will Impact Gold Prices?

As per Prithviraj Kothari, Managing Director at RiddiSiddhi Bullions, the US-India trade deal reduces near-term trade uncertainty, which may cap safe-haven demand and lead to short-term consolidation in gold and silver prices. A stronger Indian rupee could also soften domestic bullion prices by lowering import costs. However, the broader outlook remains constructive. Global factors such as expectations of a dovish US Federal Reserve, elevated geopolitical risks, fiscal stress in major economies, and sustained central-bank and ETF buying continue to support precious metals.

He added that gold is likely to remain range-bound with a positive bias, while silver may see higher volatility but benefit from strong industrial demand, keeping medium- to long-term trends intact.