Gold prices have created a new history in the Indian bullion market. As of February 4, 2026, the price of pure gold has crossed the significant milestone of ₹1.60 lakh per 10 grams. This sudden rise is impacting buyers across the country. The prices have surged in both domestic and international markets after a brief correction following the Union Budget 2026.
What are the latest Gold rates in Delhi and Dubai?
The retail market in Delhi has seen a fresh record high today. The price for 24-carat pure gold is trading around ₹1,60,640 per 10 grams. For those looking to buy jewelry, the standard 22-carat gold is priced at approximately ₹1,47,150 per 10 grams. These prices include import duties but exclude GST and making charges.
Many Indians traditionally prefer buying gold from Dubai. However, the price gap has narrowed recently due to duty adjustments. In Dubai, 24-carat gold is trading between ₹1,52,454 to ₹1,54,040 per 10 grams when converted to Indian currency. The rate for 22-carat gold in Dubai stands at roughly ₹1,39,750 per 10 grams.
Why is the Gold price rising?
Several global and local factors are pushing the rates higher. The primary reason is the demand for safe assets among investors due to geopolitical uncertainty. When global markets face instability, large investors typically shift their funds into gold for safety.
Another major factor is the value of the Indian currency. The Indian Rupee has touched a low of ₹87.20 against the US Dollar, making imported gold more expensive for domestic buyers. Additionally, central banks in Asia are aggressively buying gold to diversify their foreign reserves.
What are the tax rules and customs duties?
The government has kept the effective customs duty on gold at 8 percent. This is lower than the previous high rates of 15-18 percent, which is intended to reduce the incentive for smuggling. Mandatory BIS Hallmarking remains in force for all jewelry sales to ensure purity for consumers.
Investors should also note the changes in Sovereign Gold Bonds (SGB). Under the new rules introduced in Budget 2026, the capital gains tax exemption is now restricted. It applies only to individual investors who subscribe during the primary issue and hold the bond until maturity. Secondary market transactions are now taxed at slab rates.
