Gold rates continue to slide post Budget 2026 presentation as the yellow metal price on leading jewellery brands such as Tanishq, Malabar Gold and Diamonds and Joyallukas slipped significantly today (Monday, i.e., February 2, 2026).
The government has not announced many changes in tax rules related to gold or silver. However, some new taxation rules have been announced for Sovereign Gold Bond investments where exemption from capital gains tax will be available only where such gold bonds are subscribed to by an individual at the time of issue and are held till maturity.
This means that if SGBs are bought from the secondary market or after the issuance, the bond holder needs to pay income tax at slab rates.
Here’s a closer look at today’s gold prices across major jewellery brands and IBJA benchmark gold rates. Also see how much gold rates fell compared to Sunday.Tanishq’s latest price for 22k gold jewellery is Rs 13,930 per gram as of February 2, 2026. It slipped from Rs 14,760 on Sunday.Malabar Gold & Diamonds’ latest price for 22k gold jewellery is Rs 13,490 per gram as of February 2, 2026. The price of the same gold on Sunday was Rs 13,890.
22k gold price at Joyalukkas
As of today, Joyalukkas’ latest price for 22k gold jewellery at retail and online stores is Rs 13,890 per gram as of February 2, 2026.Note: Gold rates are sourced from the respective jewellery brand websites (at 2.15 pm IST, February 2, 2026) and may vary depending on the city and the state.Gold rates issued by the India Bullion and Jewellers Association (IBJA) for February 2, 2026, without GST are:
IBJA’s indicative retail selling rates for gold jewellery
Fine Gold (999): Rs14,227 per gram
22 KT Gold: Rs13,886 per gram
20 KT Gold: Rs12,662 per gram
18 KT Gold: Rs11,524 per gram
14 KT Gold: Rs 9,176 per gram
These are benchmark IBJA rates (without GST), typically quoted per 10 gram gold. The final retail prices may be higher due to GST, making charges and city-wise variations.
Gold rates on February 1, 2026
Fine Gold (999): Rs 14,870
22 karat: Rs 14,513
20 karat: Rs 13,234
18 karat: Rs 12,045
14 karat: Rs 9,591
Fall in gold prices today
| Karat / Purity | IBJA Rates (01/02/2026) | IBJA (02/02/2026) | Difference |
| Fine Gold (999) | ₹14,870 | ₹14,227 | -₹643 |
| 22 KT | ₹14,513 | ₹13,886 | -₹627 |
| 20 KT | ₹13,234 | ₹12,662 | -₹572 |
| 18 KT | ₹12,045 | ₹11,524- | ₹521 |
| 14 KT | ₹9,591 | ₹9,176 | -₹415 |
As per IBJA gold rates available on its official page on X (formerly Twitter), gold prices fell across all purities on February 2, 2026 compared to February 1, 2026 rates. Fine Gold (999) fell by Rs 643 per gram, the sharpest drop in absolute terms in a day. The price of 22 KT gold, the most-used jewellery purity, declined by Rs 627 per gram. Even the 14 KT gold price dropped meaningfully by Rs 415 per gram.
What is the method for calculating the gold jewellery price?
Here is the formula jewellers use to calculate the gold jewellery price:
Final price of the jewellery = {Price of gold X (weight in gram)} + making charges + GST at 3% + hallmarking charges
Hallmarked jewellery provides third-party assurance of purity of gold/silver to customers who can get the promised purity of gold/silver for the price they pay (value for money).
