Gold prices declined while silver rates moved higher in the Indian bullion market on Wednesday, August 26. According to the India Bullion and Jewellers Association (IBJA) data provided, the price of 24-carat gold fell by ₹610 per 10 gramsto around ₹1.61 lakh. In contrast, silver gained ₹2,299 per kilogram, taking its price to approximately ₹2.44 lakh per kg.
The latest movement comes amid continued volatility in precious metal prices during 2026, with both gold and silver having recorded substantial gains compared with their levels at the end of last year.
Gold Up Sharply So Far in 2026
Despite Wednesday's decline, gold remains significantly more expensive than it was at the beginning of the year.
On December 31, 2025, 10 grams of gold was priced at around ₹1.33 lakh, according to the figures provided. The rate has now climbed to approximately ₹1.61 lakh, representing an increase of around ₹28,000.
Gold also reached a reported record high of ₹1.76 lakh per 10 grams on January 29, 2026.
Silver has similarly gained during the year. Its price has increased from around ₹2.30 lakh per kg at the end of 2025 to ₹2.44 lakh currently. However, silver's reported record high this year was considerably higher, at ₹3.86 lakh per kg on January 29.
Gold, Silver Outlook Remains Positive
Anindya Banerjee, Senior Vice President and Head of Commodity Research at Kotak Securities, said gold continues to receive support from both retail investors and central banks.
Central banks, including the Reserve Bank of India, have been adding gold to their reserves, according to the assessment cited in the source material. Such buying can provide additional support to gold prices when market conditions remain uncertain.
Based on the current outlook, gold could potentially move towards ₹1.70 lakh per 10 grams by December, while silver could rise towards ₹3 lakh per kg, according to Banerjee's projection.
However, precious metal prices remain sensitive to global economic conditions, interest rates, currency movements and investor demand, meaning actual prices may differ from these estimates.
What Buyers Should Check Before Buying Gold
Consumers purchasing gold jewellery should check more than just the displayed price. Purity, weight and additional charges can significantly affect the final bill.
1. Check the BIS hallmark:
Buyers should look for properly hallmarked gold and verify the relevant hallmark details. The hallmark provides information about the purity of the jewellery.
2. Verify the day's gold rate:
Gold prices vary depending on purity, including 24-carat, 22-carat and 18-carat gold. Buyers should check the applicable rate and independently verify the weight before completing the purchase.
3. Ask About Making Charges:
Making charges are added by jewellers for converting gold into jewellery. These charges can vary from one jeweller and design to another. Customers should ask for a clear breakdown of the making charges and compare offers before buying.
Silver Gains as Gold Slips
Wednesday's contrasting movement in gold and silver highlights the volatility currently visible across the precious metals market. While gold has remained well above its December 2025 level despite the latest decline, silver has also recorded significant gains but continues to trade below its reported 2026 peak.
For consumers, the day's rate is only one part of the purchase decision. Purity, making charges, taxes and the final weight should all be checked before buying physical gold or silver jewellery.
