Gold and silver prices recorded a sharp weekly rise in the domestic market, with both precious metals gaining significantly over the past seven days. According to data from the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold increased by ₹8,257 per 10 grams during the week to reach ₹1,60,620 on August 22. Gold was priced at around ₹1.52 lakh per 10 grams on August 14.

Silver also registered a strong weekly gain. Its price increased by ₹12,788 per kilogram, rising from around ₹2.34 lakh last week to ₹2,46,630 per kg on August 22. The latest movement comes amid continued volatility in precious-metal prices in 2026.

Gold Price by Purity

According to the latest IBJA figures, the price of gold varies significantly depending on purity. The 24-carat rate stood at ₹1,60,620 per 10 grams, while 22-carat gold was priced at ₹1,47,128.

Retail jewellery prices can be higher than bullion rates because of factors such as making charges, GST and other applicable costs.

Gold Prices in Major Cities

Retail gold rates also vary across cities. On August 22, the 24-carat gold price for 10 grams was around ₹1,63,240 in Delhi and Jaipur, while Mumbai and Kolkata recorded rates of approximately ₹1,63,090.

The city-wise rates cited above are retail rates, while IBJA's bullion rate for 24-carat gold stood at ₹1,60,620 per 10 grams.

Gold Up ₹28,000 in 2026

Gold has gained substantially since the beginning of the year despite recording sharp fluctuations. On December 31, 2025, 10 grams of gold was priced at ₹1,33,195, compared with ₹1,60,620 on August 22, 2026.

That represents an increase of more than ₹27,000 in the period. Silver, meanwhile, has risen from ₹2,30,420 per kg at the end of 2025 to ₹2,46,630 currently.

Both metals also recorded much higher levels during the year. On January 29, gold was reported at ₹1.76 lakh per 10 grams, while silver reached ₹3.86 lakh per kg.

December Outlook for Gold and Silver

Anindya Banerjee, Senior Vice President and Head of Commodity Research at Kotak Securities, said gold continues to receive support from investors as well as central banks, including the Reserve Bank of India, which has been adding gold to its reserves.

According to the outlook cited in the report, gold could potentially reach ₹1.70 lakh per 10 grams by December, while silver could move towards ₹3 lakh per kg. Such projections, however, are market estimates and actual prices can change depending on global economic conditions, interest rates, currency movements and demand.

Check These Things Before Buying Gold

Consumers planning to purchase jewellery should check the BIS hallmark and verify the purity of the gold before making a payment. Buyers should also compare the day's bullion rate from reliable sources and check the weight independently.

Making charges can vary considerably between jewellers and are generally negotiable. Buyers should ask for a clear breakup showing the gold value, making charges, GST and any other applicable costs.

For silver purchases, simple household tests such as a magnet or ice test may provide an indication, but they cannot conclusively establish purity. For an accurate assessment, buyers should rely on proper hallmarking or professional testing rather than home tests alone.

Gold and silver prices declined on Thursday, August 14, with both precious metals trading lower than the previous session. According to data from the India Bullion and Jewellers Association (IBJA), the price of 10 grams of 24-carat gold fell by ₹708 to ₹1,52,363.

Gold was priced at ₹1,53,071 per 10 grams on August 13.

Silver also recorded a decline. The price of one kilogram of silver fell by ₹386 to ₹2,33,842, compared with ₹2,34,228 on the previous day.

Gold Prices Remain Volatile

Gold and silver prices have witnessed significant fluctuations in 2026. Gold, which was priced at around ₹1.33 lakh per 10 grams on December 31, 2025, climbed to approximately ₹1.76 lakh on January 29, marking its highest level during the period cited.

Since that peak, gold has declined by around ₹23,758.

Silver followed a similar pattern. Its price stood at about ₹2.30 lakh per kilogram at the end of December 2025 before rising to around ₹3.86 lakh per kilogram on January 29.

The subsequent decline has brought silver substantially below its earlier peak.

Why Gold Rates Differ by City

Gold prices can vary between cities even when the underlying bullion rate is broadly similar. Several factors contribute to the difference.

Transportation and security costs can affect the final price because bullion dealers incur expenses when moving gold between locations.

Local demand and purchase volumes also influence prices. Jewellery markets with higher consumption can see different pricing dynamics depending on local competition and supply.

Local jewellers' associations and market conditions can influence quoted rates, while the cost at which a jeweller acquired existing stock can also affect the price offered to customers.

Taxes, making charges and other costs can further increase the final retail price of jewellery compared with the basic bullion rate.

Gold Could Reach ₹1.60 Lakh

Commodity analyst Ajay Kedia said gold and silver have moved significantly below their recent highs.

According to the outlook cited, gold could potentially return to around ₹1.60 lakh per 10 grams by the end of the year, while silver could move towards ₹2.80 lakh per kilogram.

However, precious metals remain market-linked assets and prices can change depending on global economic conditions, interest rates, currency movements, geopolitical developments and investor demand.

Investors considering exposure to gold or silver should therefore avoid treating short-term price targets as guaranteed outcomes.

Check Hallmark Before Buying Gold

Consumers buying physical gold should check whether the jewellery or bullion carries the required Bureau of Indian Standards (BIS) hallmark.

Buyers should also verify the purity, weight and applicable rate before completing a purchase. Gold prices differ according to purity, including 24-carat, 22-carat and 18-carat categories.

It is also advisable to compare the day's bullion rate with reliable sources before buying and to check the making charges and other applicable costs separately.

How to Check Silver Purity

Several commonly used household tests are often suggested for checking silver. A magnet test, for example, can indicate whether an item contains strongly magnetic metals, while an ice test is sometimes used because silver has high thermal conductivity.

However, such household methods cannot conclusively establish purity.

For an accurate assessment, buyers should rely on recognised hallmarking, documentation or professional testing rather than making a purchase decision solely on the basis of a home test.

Gold Holdings in Indian Households

India's large household gold holdings remain an important feature of the country's wealth landscape.

A recent estimate cited in the source material puts Indian households' gold holdings at around 34,600 tonnes. At prevailing prices, the estimated value of this stock could exceed the country's annual GDP.

The comparison illustrates the scale of gold ownership among Indian households, although the two figures measure different economic concepts and should not be treated as directly equivalent measures of national wealth.

With gold and silver prices continuing to move sharply, consumers and investors are likely to keep a close watch on bullion rates, global market developments and domestic demand in the coming months.

 India is set to witness the introduction of ₹10 and ₹20 polymer currency notes as part of a pilot project approved by the Centre, while the Food Safety and Standards Authority of India (FSSAI) has directed beverage companies to remove the term "energy drink" and related promotional claims from their products. Meanwhile, Bank of Baroda has launched a forensic investigation after reports emerged of a major customer data breach on the dark web.

Here are the top business developments:

RBI to Introduce ₹10 and ₹20 Polymer Notes

The Reserve Bank of India (RBI) will print 100 crore ₹10 notes and 100 crore ₹20 notes made from polymer, taking the total to 200 crore plastic currency notes under a pilot programme.

Minister of State for Finance Pankaj Chaudhary informed the Lok Sabha that the Centre has approved the proposal. The polymer notes will initially be introduced on a trial basis, while the existing paper currency notes will continue to remain legal tender.

The RBI is yet to announce the rollout date. If the pilot proves successful, polymer notes of other denominations may also be introduced in the future.

FSSAI Orders Removal of 'Energy Drink' Label

India's food regulator has instructed manufacturers of beverages such as Red Bull, Sting and Monster to discontinue the use of the term "energy drink" and remove claims suggesting that the products provide instant energy or refreshment.

According to the FSSAI, promotional statements such as "instantly energises the body and mind" or "provides immediate energy" are misleading because India currently has no prescribed food standards defining an "energy drink."

Companies have been given 90 days to revise product labels and marketing material to comply with the regulator's directive.

Bank of Baroda Investigating Major Data Leak

Bank of Baroda is investigating an alleged cyber incident after reports claimed that customer information and internal banking documents had surfaced on the dark web.

According to cybersecurity researchers, the leaked database reportedly contains over 700 GB of sensitive information, including customer identification records, loan documents, internal audit files and confidential operational records.

The public sector lender has initiated a forensic audit to determine the source and extent of the breach while assessing whether customer data has been compromised.

Gold and Silver Extend Rally

Precious metals continued their upward trend on July 27.

According to the India Bullion and Jewellers Association (IBJA):

• Silver gained ₹1,726 to reach ₹2.25 lakh per kilogram.

• 24-carat gold rose ₹685, taking the price of 10 grams to ₹1.45 lakh.

Market analysts believe gold prices could touch ₹1.60 lakh per 10 grams this year if global uncertainties persist.

Gadkari Moves Against Deepfake Videos

Union Road Transport and Highways Minister Nitin Gadkari has clarified that he has no role in India's ethanol blending programme, stating that the initiative falls under the Ministry of Petroleum and Natural Gas.

The clarification comes after several AI-generated deepfake videos circulated on social media allegedly linking him personally to the E20 petrol policy.

Following permission from the Bombay High Court, Gadkari is preparing legal action against platforms including Meta, X and Google, seeking the removal of allegedly defamatory AI-generated content and protection of his personality rights.

Market Snapshot

Indian equity markets are expected to remain influenced by corporate earnings, global cues, crude oil prices and foreign investment flows.

Meanwhile, investors are also tracking developments in commodity prices, cybersecurity risks in the banking sector and regulatory changes affecting the consumer goods industry.

Gold and silver prices witnessed a sharp rise on Monday, with 24-carat gold gaining ₹751 to ₹1,44,532 per 10 grams and silver surging ₹2,050 to ₹2,24,771 per kilogram, according to the India Bullion and Jewellers Association (IBJA).

The rally comes amid continued volatility in the precious metals market, even as both commodities remain below their record highs touched earlier this year.

Gold Prices Rise Across Major Cities

Retail prices of 24-carat gold also increased across major Indian cities. According to market data, gold was priced at:

• Delhi: ₹1,46,040 per 10 grams

• Mumbai: ₹1,45,860

• Kolkata: ₹1,45,860

• Jaipur: ₹1,46,040

• Bhopal: ₹1,45,940

• Patna: ₹1,45,940

• Lucknow: ₹1,46,040

• Raipur: ₹1,45,860

• Ahmedabad: ₹1,45,940

IBJA rates for different gold purities stood at:

Gold Up ₹12,000 in 2026

Gold has gained nearly ₹12,000 per 10 grams so far this year.

On December 31, 2025, the yellow metal was trading at around ₹1.33 lakh per 10 grams, compared with ₹1.45 lakh currently.

Silver, however, has declined by nearly ₹5,000 per kilogram since the beginning of the year. It was priced at ₹2.30 lakh per kilogram at the end of 2025 and is now trading around ₹2.25 lakh.

Both metals had touched record highs earlier in 2026, with gold reaching approximately ₹1.76 lakh per 10 grams and silver climbing to nearly ₹3.86 lakh per kilogram in January.

Market Outlook

Commodity market expert Ajay Kedia believes the recent correction from record highs presents an opportunity for investors.

According to Kedia, investors should avoid making lump-sum investments and instead adopt a staggered investment strategy to reduce market risk.

He expects gold to touch ₹1.60 lakh per 10 grams and silver to reach around ₹2.80 lakh per kilogram by the end of 2026 if current market trends continue.

Tips Before Buying Gold

Experts advise buyers to follow two basic precautions while purchasing gold:

• Buy only BIS hallmarked jewellery, which certifies the purity of the metal through an alphanumeric hallmark code.

• Compare gold prices with reliable sources such as the India Bullion and Jewellers Association (IBJA) before making a purchase, as rates vary based on purity and city.

How to Check Genuine Silver

Consumers can also verify silver using simple methods:

• Magnet Test: Pure silver does not stick to magnets.

• Ice Test: Ice melts faster on genuine silver because of its high thermal conductivity.

• Smell Test: Real silver has no noticeable odour, while fake silver may emit a metallic or copper-like smell.

• Cloth Test: Rubbing silver with a white cloth may leave a black mark due to natural oxidation, indicating genuine silver.

With precious metals continuing to witness price fluctuations, analysts expect investors to closely monitor global economic developments, interest rate expectations and geopolitical risks, which remain key drivers of bullion prices.

India's financial landscape saw several key developments over the weekend. Fuel prices remained unchanged across the country, IDFC First Bank reported a sharp rise in quarterly profit, and the Employees' Provident Fund Organisation (EPFO) began crediting annual interest to subscribers' accounts. Meanwhile, gold and silver prices ended the week higher, Honda launched its premium ZR-V SUV, and Oppo introduced its latest F33 Pro 5G smartphone.

Petrol and Diesel Prices Remain Unchanged

State-owned oil marketing companies have kept petrol and diesel prices unchanged today. Fuel prices continue to remain stable across major cities, with revisions issued daily based on international crude oil prices and currency movements.

IDFC First Bank Q1 Profit Surges 132% to ₹1,075 Crore

Private sector lender IDFC First Bank reported a strong performance for the April–June quarter of FY2026-27.

The bank's net profit rose 132.2% year-on-year to ₹1,075 crore, compared with ₹463 crore in the corresponding quarter last year.

The sharp increase in earnings was driven by:

• Higher net interest income (NII)

• Lower provisioning for bad loans

• Improvement in overall asset quality

The results reflect stronger operational performance and healthier balance sheet metrics during the quarter.

Gold and Silver Prices End Week Higher

Bullion prices witnessed a strong rally during the week.

According to the India Bullion and Jewellers Association (IBJA):

• 24-carat gold (10 grams) gained ₹2,622, reaching ₹1.44 lakh.

• Silver climbed ₹7,247, touching ₹2.23 lakh per kilogram.

The rise comes amid firm global bullion prices and continued investor demand for safe-haven assets.

EPFO Starts Crediting 8.25% PF Interest

The Employees' Provident Fund Organisation (EPFO) has started crediting 8.25% annual interest for the financial year 2025-26 into subscribers' Provident Fund accounts.

Many account holders have already started receiving SMS notifications confirming the credit of interest. However, the process is being carried out in phases, so members who have not yet received a message need not worry.

Subscribers can verify their updated PF balance through:

• EPFO Member Passbook Portal

• UMANG App

• Missed Call Service

• SMS Facility

Honda Launches ZR-V Hybrid SUV in India

Honda Cars India has launched the Honda ZR-V, its flagship premium SUV, at a starting price of ₹48 lakh.

The SUV is being imported as a Completely Built Unit (CBU) and features:

• 2.0-litre strong-hybrid petrol engine

• Claimed fuel efficiency of 22.8 kmpl

• Level-2 ADAS safety package

• Premium interiors and advanced driver-assistance features

The ZR-V will compete with premium SUVs such as the Skoda Kodiaq, Volkswagen Tayron, and Volkswagen Tiguan.

Oppo F33 Pro 5G Review

Oppo has expanded its popular F-series lineup with the Oppo F33 Pro 5G.

The smartphone offers:

• 50MP front camera

• Long battery backup

• Fast charging support

• Premium design

However, one notable limitation is the absence of 4K video recording, which may disappoint users looking for advanced videography capabilities.

Market Snapshot

• Stock Market: Closed today due to Sunday.

• Petrol & Diesel: No change in retail prices.

• Gold: ₹1.44 lakh per 10 grams (24K).

• Silver: ₹2.23 lakh per kg.

• PF Interest: 8.25% credit process underway.

Gold and silver prices registered notable gains during the past week, extending the recent upward trend in the bullion market. According to data released by the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold increased by ₹2,622 per 10 grams, while silver gained ₹7,247 per kilogram.

The rise comes amid continued fluctuations in precious metal prices driven by global economic uncertainty, investor demand, and movements in international markets.

Gold Climbs Above ₹1.44 Lakh

IBJA data shows that the price of 24-carat gold rose from ₹1,41,378 per 10 grams on July 18 to ₹1,44,000 per 10 grams this week, reflecting a gain of ₹2,622.

Gold has remained one of the preferred safe-haven assets for investors amid market volatility, contributing to its sustained demand.

Silver Crosses ₹2.23 Lakh Per Kg

Silver also posted strong gains during the week.

The price of silver increased from ₹2.15 lakh per kilogram to ₹2.23 lakh per kilogram, registering a weekly rise of ₹7,247.

Although silver has seen sharp fluctuations throughout the year, the latest rally indicates renewed buying interest in the metal.

Gold Up Nearly ₹12,000 in 2026

Gold prices have witnessed significant movement since the beginning of the year.

On December 31, 2025, the price of 10 grams of gold was slightly above ₹1.33 lakh. It has since increased by nearly ₹12,000, reaching around ₹1.44 lakh.

Earlier this year, on January 29, gold touched an all-time high of ₹1.76 lakh per 10 grams, highlighting the extreme volatility seen in the bullion market.

Silver Still Below Its Record Levels

Unlike gold, silver remains below its peak despite this week's gains.

Silver was trading at around ₹2.30 lakh per kilogram at the end of 2025 and currently stands at ₹2.23 lakh, around ₹7,000 lower than its year-end level.

The metal had surged to an all-time high of ₹3.86 lakh per kilogram on January 29, before correcting sharply in subsequent months.

Experts See Further Upside

Commodity market expert Ajay Kedia believes both gold and silver have corrected significantly from their record highs, making them attractive for long-term investors.

According to Kedia:

• Gold could rise to around ₹1.60 lakh per 10 grams by the end of 2026.
• Silver may climb to nearly ₹2.80 lakh per kilogram.

However, he advised investors to avoid investing a large amount at one time and instead adopt a phased investment strategy to manage market volatility.

Tips for Buying Gold

Experts recommend following these precautions while purchasing gold jewellery:

1. Buy BIS Hallmarked Gold

Always purchase jewellery carrying the Bureau of Indian Standards (BIS) hallmark, which certifies the purity of the gold.

The hallmark includes an alphanumeric identification code that verifies authenticity and carat value.

2. Verify Daily Prices

Before making a purchase, compare the day's gold rates through reliable sources such as the India Bullion and Jewellers Association (IBJA).

Gold prices differ depending on whether the jewellery is 24-carat, 22-carat, or 18-carat, making it important to check current market rates.

How to Identify Genuine Silver

Consumers can perform a few simple tests to verify silver's authenticity:

• Magnet Test: Pure silver is non-magnetic and will not stick to a magnet.
• Ice Test: Silver has excellent thermal conductivity, causing ice to melt faster on its surface.
• Smell Test: Genuine silver is odorless, while fake silver often has a metallic or copper-like smell.
• Cloth Test: Rubbing silver with a white cloth may leave a black mark due to natural oxidation, indicating genuine silver.

Market Outlook

With global economic uncertainty continuing to influence commodity markets, analysts expect gold and silver prices to remain volatile in the coming months.

Investors are advised to monitor international trends, currency movements, and central bank policies before making investment decisions in precious metals.

The domestic bullion market witnessed a strong rebound on Tuesday, with both gold and silver prices registering significant gains. According to the India Bullion and Jewellers Association (IBJA), silver prices surged by ₹3,159 per kilogram to ₹2.22 lakh, while 24-carat gold rose by ₹1,150 to ₹1.43 lakh per 10 grams. The sharp increase reflects renewed buying interest amid global economic uncertainty and expectations of sustained demand for precious metals.

The latest rally comes after weeks of price volatility, with market experts predicting that gold could climb to ₹1.60 lakh per 10 grams by the end of 2026 if global geopolitical tensions and inflationary pressures persist.

Gold and Silver Register Strong Gains

As per IBJA data, 24-carat gold is now priced at ₹1,43,404 per 10 grams, while 22-carat gold stands at ₹1,31,358 and 18-carat gold at ₹1,07,553 per 10 grams.

Silver also recorded a substantial rise, with one kilogram now costing ₹2,22,734, reflecting a sharp one-day increase of ₹3,159.

Across major cities, gold prices remained broadly aligned. Delhi and Lucknow recorded 24-carat gold prices of ₹1,44,370 per 10 grams, while Mumbai, Kolkata and Raipur quoted prices around ₹1,44,220. Bhopal and Ahmedabad witnessed rates close to ₹1,44,270.

Bullion Prices Remain Volatile in 2026

Precious metals have experienced considerable fluctuations this year. Gold has gained nearly ₹9,000 per 10 grams compared to its level at the end of 2025, when it traded around ₹1.33 lakh.

Silver, however, has followed a different trajectory. Despite Tuesday's jump, it remains below its year-end 2025 level, having declined by nearly ₹10,000 per kilogram over the period.

The year also witnessed historic highs. Gold touched an all-time peak of around ₹1.76 lakh per 10 grams in January, while silver surged to nearly ₹3.86 lakh per kilogram, highlighting the extraordinary volatility seen in commodity markets during 2026.

Experts Recommend Systematic Investment

Commodity market expert Ajay Kedia believes the recent correction from record highs offers investors an opportunity to enter the bullion market. However, he advises against making lump-sum investments.

Instead, investors should adopt a staggered investment strategy to reduce the impact of price volatility. According to Kedia, gold could rise to around ₹1.60 lakh per 10 grams by the end of the year, while silver may advance toward ₹2.80 lakh per kilogram, provided global economic conditions continue to support safe-haven assets.

Tips for Buying Gold

Financial experts recommend purchasing only BIS hallmarked gold, as hallmark certification guarantees purity and authenticity. Buyers should also compare prevailing market rates before making a purchase, since gold prices differ depending on purity levels such as 24-carat, 22-carat and 18-carat.

Consumers are also advised to verify the weight, making charges and invoice details before finalising a purchase.

How to Check Pure Silver

Experts suggest a few simple methods to identify genuine silver:

• Real silver does not stick to a magnet.
• Ice melts faster on pure silver because of its high thermal conductivity.
• Genuine silver has no metallic or copper-like smell.
• Rubbing silver with a white cloth often leaves a black mark due to natural oxidation, indicating authenticity.

With global economic uncertainty, geopolitical developments and inflation concerns continuing to influence investor sentiment, bullion is expected to remain in focus. Market participants will closely watch international price movements and central bank policies for further direction in gold and silver prices.

Gold and silver prices witnessed a fresh decline in the domestic bullion market on Monday, extending the correction from their record highs earlier this year. According to the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold fell by ₹1,079 per 10 grams, while silver declined by ₹3,155 per kilogram, reflecting continued volatility in precious metal markets.

The latest correction comes amid a stronger US dollar and profit-booking by investors after the sharp rally seen during the first quarter of 2026.

Gold Falls Below ₹1.43 Lakh

IBJA data showed that 24-carat gold was priced at ₹1,42,289 per 10 grams, down from the previous session. Retail prices in major cities remained close to the IBJA benchmark.

According to market rates:

• Delhi: ₹1,43,060 per 10 grams

• Mumbai: ₹1,42,910

• Kolkata: ₹1,42,910

• Jaipur: ₹1,43,060

• Bhopal: ₹1,42,960

• Patna: ₹1,42,960

• Lucknow: ₹1,43,060

• Raipur: ₹1,42,910

• Ahmedabad: ₹1,42,960

Other benchmark prices stood at ₹1,30,337 for 22-carat gold, ₹1,06,717 for 18-carat, and ₹83,239 for 14-carat gold per 10 grams.

Silver Extends Correction

Silver prices also continued their downward trend, with the metal trading at ₹2,17,235 per kilogram, down by ₹3,155 from the previous session.

Despite the latest decline, analysts note that silver remains one of the most volatile commodities in the precious metals segment, influenced by both investment demand and industrial consumption.

Prices Down Significantly from Record Highs

Both bullion metals have corrected substantially from the all-time highs recorded earlier this year.

Gold touched a historic peak of ₹1,76,121 per 10 grams on January 29, 2026, before witnessing sustained profit-booking. Since then, the yellow metal has fallen by nearly ₹34,000 per 10 grams.

Silver experienced an even steeper correction. After reaching a record ₹3,85,933 per kilogram on January 29, prices have declined by around ₹1.69 lakh per kilogram over the past five-and-a-half months.

Market experts say the correction reflects changing global market sentiment rather than weakening long-term demand.

Why Are Gold and Silver Prices Falling?

Analysts attribute the latest decline to multiple global factors.

A stronger US dollar has weighed on international bullion prices following signals from the US Federal Reserve regarding monetary policy. Since gold and silver are globally priced in dollars, a stronger greenback generally makes the metals more expensive for international buyers, reducing demand.

Another major factor is profit-booking. After prices surged to record levels earlier this year, institutional investors and traders have been locking in gains, triggering a correction across bullion markets.

Experts Advise Staggered Investment

Commodity market experts believe the ongoing correction could present buying opportunities for long-term investors, but advise against making lump-sum investments.

According to commodity analyst Ajay Kedia, investors may consider accumulating gold and silver gradually through systematic purchases instead of investing all at once. He expects that, subject to global economic conditions, gold could approach ₹1.60 lakh per 10 grams and silver may recover towards ₹2.80 lakh per kilogram by the end of the year.

Buying Precious Metals? Keep These Points in Mind

Jewellery buyers are advised to purchase only BIS hallmarked gold, which certifies the purity of the metal. Consumers should also compare prevailing market prices from reliable sources before making purchases.

For silver, experts recommend simple authenticity checks such as the magnet test, ice test, smell test and cloth test, though certification remains the most reliable way to verify purity.

With global economic uncertainty, central bank policies and currency movements continuing to influence bullion prices, market participants expect gold and silver to remain volatile in the coming months.

Gold and silver prices declined sharply on Wednesday, extending their correction from record highs earlier this year. According to the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold fell by ₹1,733 to ₹1.42 lakh per 10 grams, while silver dropped ₹5,650 to ₹2.22 lakh per kilogram.

The latest decline comes after months of heightened volatility in the bullion market, driven by shifting global economic conditions, geopolitical developments and changing investor sentiment.

Gold Down Nearly ₹34,000 from Peak

Gold has witnessed significant fluctuations since the beginning of 2026.

The precious metal was priced at around ₹1.33 lakh per 10 grams on December 31, 2025, before rallying to an all-time high of ₹1.76 lakh on January 29, 2026. Since then, gold prices have corrected by approximately ₹33,771 per 10 grams, reflecting a cooling of the record-breaking rally seen earlier this year.

Market analysts attribute the correction to profit booking, easing safe-haven demand and evolving expectations surrounding global interest rates.

Silver Extends Sharp Correction

Silver has experienced an even steeper decline from its historic peak.

After closing at around ₹2.30 lakh per kilogram at the end of 2025, the white metal surged to an all-time high of ₹3.86 lakh per kilogram on January 29. Since then, prices have fallen by nearly ₹1.64 lakh, taking silver to ₹2.22 lakh per kilogram.

Despite the correction, both gold and silver continue to trade well above their levels seen a year ago.

Bullion Market Remains Volatile

The bullion market has remained highly sensitive to global developments throughout 2026.

Movements in international gold prices, fluctuations in the US dollar, central bank policy expectations and geopolitical uncertainties have contributed to frequent price swings in precious metals.

Investors continue to monitor global economic indicators before making fresh allocations to safe-haven assets such as gold and silver.

Tips for Gold Buyers

Industry experts advise consumers to exercise caution while purchasing gold jewellery or investment products.

Buyers should always purchase BIS hallmarked gold, which certifies the purity of the metal. Every certified jewellery item carries a unique alphanumeric hallmark identification number that verifies its authenticity.

Consumers are also advised to compare prevailing gold prices from reliable sources, including the India Bullion and Jewellers Association (IBJA), before making a purchase, as rates vary depending on whether the gold is 24-carat, 22-carat or 18-carat.

How to Check Genuine Silver

Experts recommend a few simple methods to verify silver authenticity:

• Magnet Test: Genuine silver is non-magnetic and should not stick to a magnet.

• Ice Test: Silver has high thermal conductivity, causing ice placed on it to melt quickly.

• Smell Test: Pure silver is odourless, while counterfeit products may emit a metallic or copper-like smell.

• Cloth Test: Rubbing silver with a white cloth may leave a dark residue due to natural oxidation, indicating genuine silver.

Bullion prices are expected to remain volatile in the coming weeks as investors assess global economic data, inflation trends and monetary policy signals. Analysts believe any major geopolitical developments or changes in interest rate expectations could continue influencing the direction of gold and silver prices.

Gold and silver prices witnessed fresh movement on Wednesday, July 8, with both precious metals closing higher in the domestic bullion market. According to the latest data released by the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold rose by ₹177 to around ₹1.44 lakh per 10 grams, while silver gained ₹150 to trade at approximately ₹2.27 lakh per kilogram. Market experts attribute the fluctuations to global economic developments, movements in the US dollar, central bank policies and changing investor sentiment.

Gold has delivered strong returns so far in 2026. On December 31, 2025, the price of 24-carat gold stood at approximately ₹1.33 lakh per 10 grams. With the latest increase, the yellow metal has appreciated by nearly ₹11,000 within the first half of the year.

Although prices have witnessed intermittent corrections during this period, gold has continued to attract investors seeking a safe-haven asset amid global uncertainty. Analysts believe international market trends, geopolitical developments and sustained investment demand have played a key role in supporting domestic prices.

Silver Still Below Its 2025 Closing Level

Silver also registered a modest gain on Wednesday, but it continues to trade below the level seen at the beginning of the year.

The metal was priced at around ₹2.30 lakh per kilogram on December 31, 2025, compared with approximately ₹2.27 lakh per kilogram currently, reflecting a decline of nearly ₹3,000 over the period.

Traders note that silver tends to experience greater price volatility than gold due to its dual role as both an investment asset and an industrial metal. Demand from manufacturing sectors, global economic activity and investor participation continue to influence silver prices.

Precious Metals Touched Record Highs This Year

Both gold and silver reached record levels earlier in 2026 before witnessing corrections.

On January 29, 2026, gold touched an all-time high of nearly ₹1.76 lakh per 10 grams, while silver surged to approximately ₹3.86 lakh per kilogram.

Following those peaks, profit booking and changing global market conditions led to a correction in prices. With fresh buying interest returning to the bullion market, investors are closely watching price trends for the coming months.

Market analysts continue to view gold as a preferred long-term investment during periods of economic uncertainty, while silver is often considered a higher-risk asset with the potential for stronger returns during favourable market conditions.

Tips for Gold Buyers

Experts advise consumers planning to purchase jewellery to follow a few essential precautions:

Always buy BIS hallmarked gold to ensure purity and authenticity.
Verify the day's prevailing gold price before making a purchase.
Check the purity level (22-carat, 24-carat, etc.) mentioned on the invoice.
Carefully review the weight, making charges and applicable taxes before completing the transaction.
How to Identify Genuine Silver

Consumers should also exercise caution while purchasing silver, as both genuine and counterfeit products are available in the market.

Some commonly used methods to identify authentic silver include:

Magnet Test: Pure silver is non-magnetic and does not stick to a magnet.
Ice Test: Ice melts quickly on silver because of its high thermal conductivity.
Odour Test: Genuine silver is odourless, while impure alloys may emit a metallic or copper-like smell.
Cloth Test: Rubbing silver with a soft white cloth may leave a slight black mark, which is considered a normal characteristic of pure silver.

Bullion dealers expect gold and silver prices to remain volatile in the near term as investors monitor global interest rate decisions, inflation trends, geopolitical developments and currency movements. Market participants believe precious metals will continue to play an important role in investment portfolios amid ongoing economic uncertainty.

Gold and silver prices registered a sharp weekly gain in the domestic bullion market, with gold rising by ₹6,471 per 10 grams and silver climbing ₹17,317 per kilogram, as investors returned to precious metals after prices corrected from their record highs.

According to the latest market data, gold is now trading at around ₹1.46 lakh per 10 grams, up from nearly ₹1.40 lakh a week earlier. Silver also witnessed a strong rally, moving from ₹2.17 lakh per kilogram to ₹2.34 lakh per kilogram during the same period.

Market experts attribute the latest surge to renewed investor interest after both precious metals retreated significantly from their all-time peaks earlier this year. Many investors viewed the correction as an opportunity to accumulate bullion, driving prices higher.

Gold and Silver Continue to Gain in 2026

Despite periods of volatility, precious metals have remained strong performers in 2026.

Since the beginning of the year, gold prices have increased by ₹13,145 per 10 grams, rising from ₹1.33 lakh on December 31, 2025, to the current level of ₹1.46 lakh.

Silver has also posted gains, though at a comparatively slower pace. Prices have risen by ₹3,438 per kilogram since the start of the year, increasing from ₹2.30 lakh to ₹2.34 lakh per kilogram.

Both metals, however, remain below their record highs. Gold touched an all-time high of ₹1.76 lakh per 10 grams on January 29, 2026, while silver reached a historic ₹3.86 lakh per kilogram earlier this year.

Import Duty Hike Adds Pressure on Prices

One of the major factors supporting domestic bullion prices has been the government's decision to increase import duties on precious metals.

In May 2026, the Centre raised the effective import duty on gold and silver from 6% to 15%. The revised tax structure includes a 10% Basic Customs Duty and a 5% Agriculture Infrastructure and Development Cess (AIDC).

The move is aimed at reducing imports of precious metals and easing pressure on India's foreign exchange reserves. It also partially reversed the customs duty reduction announced in the Union Budget 2024.

Jewellery Imports Now Under Restricted Category

The government has also tightened import regulations by shifting gold, silver and platinum jewellery from the 'Free' category to the 'Restricted' category.

Under the revised rules issued by the Directorate General of Foreign Trade (DGFT), importers now require a government licence or special permission to bring jewellery made from these precious metals into India. Officials say the measure is intended to prevent misuse of Free Trade Agreements (FTAs) and improve regulatory oversight.

The tighter import norms are expected to influence domestic supply and could continue supporting bullion prices if demand remains strong.

Why Gold Prices Differ Across Cities

Gold prices are not uniform across India due to several local factors, including:

• Transportation, insurance and security costs.

• Regional demand and purchase volumes.

• Rates determined by local jewellery associations.

• Existing inventory and procurement prices of jewellers.

These factors often result in slight price variations between major cities.

Tips for Buyers

Experts advise consumers to exercise caution while purchasing precious metals.

Buyers should always choose BIS-hallmarked gold to ensure purity and authenticity. They are also advised to compare prevailing market rates before making a purchase, as prices vary depending on whether the jewellery is made from 24-carat, 22-carat or 18-carat gold.

For silver purchases, simple authenticity checks such as the magnet test, ice test, cloth test, and checking for any metallic odour can help identify genuine products, although certification remains the most reliable method.

With global uncertainties, domestic policy changes and steady investment demand continuing to influence the bullion market, analysts expect gold and silver prices to remain closely watched by both investors and jewellery buyers in the coming weeks.

A continuous correction in the bullion market has dragged precious metals down to multi-month lows, with gold prices tumbling by nearly ₹13,000 per 10 grams and silver crashing by ₹39,000 per kilogram in less than four weeks.

According to retail data tracked on Saturday, 24-carat gold has settled at approximately ₹1.42 lakh per 10 grams, while silver is retailing close to ₹2.40 lakh per kilogram. The sharp contraction, triggered by a strengthening US dollar and cooling geopolitical tensions globally, has prompted a major shopping rush across major jewellery hubs in Chhattisgarh, with retail footfall registering a notable upward graph.

Massive Retraction from Historic Highs

According to Harakh Malu, a prominent bullion trader based in Raipur, the velocity of the correction has caught the retail market by surprise.

26-Day Price Correction Matrix:

├── 24K Gold : Slipped from ₹1.55 Lakh to ₹1.42 Lakh per 10 grams (-₹13,000)

└── Pure Silver: Slipped from ₹2.79 Lakh to ₹2.40 Lakh per kilogram (-₹39,000)

This sudden cooling off stands in stark contrast to the historic peaks scaled by the metals at the start of the year. In January, multi-decade highs were recorded when gold touched an unprecedented ₹1.76 lakh per 10 grams and silver breached the ₹3.86 lakh per kilogram milestone. Market analysts attribute the subsequent free-fall to aggressive profit-booking by institutional investors shifting capital back into dollar-backed securities.

Retail Purchases Spike Amid Wedding Season Demand

The price drop has brought significant relief to families managing wedding budgets. Local markets are witnessing a sudden surge in order placements, reversing a two-month slump where record-high prices had deterred middle-class buyers.

"Footfall has recovered sharply over the last week. Customers who were strictly restricting their purchases to essential tokens are now expanding their budgets to secure heavier ornaments like necklaces and silver utensils," Malu observed.

Bureau of Indian Standards Issues Buyer Advisory

With retail activity intensifying, regulatory bodies and trade associations have issued compliance checklists for consumers looking to capitalize on lower rates:

• Verify the Hallmark: Buyers must strictly look for the three-piece BIS Hallmark identification, including the official BIS logo, purity grade, and the unique 6-digit alphanumeric HUID (Hallmark Unique Identification) code.

• Understand the Carat Division: Rates fluctuate heavily based on purity. While 24-carat gold is 99.9% pure (primarily used for bars/coins), bridal jewellery is conventionally crafted in 22-carat (91.6% pure) or 18-carat (75% pure) alloys.

• Daily Reference Rates: Buyers are advised to verify baseline rates from the India Bullion and Jewellers Association (IBJA) platform before finalizing making and wastage charges with local retailers.

Quick Silver Authenticity Tests:

├── Magnet Test : Pure silver is non-magnetic; it will not attract rare-earth magnets.

├── Ice Test    : Highly conductive; a cube of ice melts rapidly on genuine silver plates.

└── Smell Test  : Authentic bullion is completely odorless; chemical or copper odors indicate alloy blending.

The downward trajectory aligns with national trends. Earlier on June 25, IBJA data had logged a massive single-day wipeout for silver, highlighting volatile intra-day adjustments that are expected to keep domestic rates soft in the immediate future.