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.

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.

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 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.

Gold and silver prices recorded a significant correction this week, easing from their recent highs as investors opted to hold cash amid growing geopolitical uncertainty and profit-booking activity. According to data released by the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold declined by ₹6,438 per 10 grams over the past week, while silver prices fell by ₹14,326 per kilogram. The latest movement comes after months of sharp volatility in precious metal markets, which had surged to record highs earlier this year. Market analysts say the decline reflects changing investor sentiment, with many traders reducing exposure to bullion and increasing liquidity in response to ongoing global tensions. The correction is being closely watched by jewellers, investors, and consumers ahead of the upcoming festive and wedding demand season in India.

According to IBJA figures, 24-carat gold is now trading at approximately ₹1.48 lakh per 10 grams, compared to ₹1.54 lakh on June 6. Silver prices have also softened, falling from ₹2.57 lakh per kilogram to around ₹2.43 lakh per kilogram during the same period.

The decline marks one of the sharpest weekly corrections in recent months and comes after both precious metals touched historic highs earlier in 2026.

Record Highs Earlier This Year

Gold and silver markets have witnessed extreme volatility since the beginning of the year. On December 31, 2025, gold was priced at around ₹1.33 lakh per 10 grams. Prices later surged to an all-time high of ₹1.76 lakh on January 29, driven by global uncertainty and strong investment demand.

Since reaching that peak, gold prices have corrected by nearly ₹28,000 per 10 grams.

Silver followed a similar trajectory. Starting the year at ₹2.30 lakh per kilogram, the metal climbed to a record ₹3.86 lakh per kilogram in January. However, the market has since witnessed a sharp reversal, with prices declining by nearly ₹1.43 lakh per kilogram over the last 135 days.

Why Prices Are Falling

Market experts attribute the recent decline to a combination of investor behavior and changing market dynamics.

One major factor is the growing preference for cash holdings. Reports indicate that investors are becoming increasingly cautious amid tensions in the Middle East and broader global economic uncertainty. Instead of moving additional funds into precious metals, many are liquidating positions to maintain higher cash reserves.

Another key reason is profit booking. Gold and silver delivered exceptional returns during the early months of the year, encouraging institutional and large-scale investors to sell holdings at elevated levels. The increase in supply has put downward pressure on prices across bullion markets.

Impact on Consumers and Investors

The correction could offer some relief to jewellery buyers who postponed purchases during the period of record-high prices. Lower rates may encourage demand from retail consumers, particularly with the festive and wedding season approaching in several parts of the country.

For investors, however, the recent decline highlights the volatility that has characterized precious metals throughout 2026. Analysts suggest that future price movements will largely depend on global economic conditions, central bank policies, currency trends, and geopolitical developments.

Gold and Silver May Turn Cheaper After Budget 2026

Buying gold and silver could soon become easier on the pocket. Ahead of the Union Budget 2026, scheduled for February 1, the government is considering a reduction in customs duty on gold and silver from 6% to 4%. If announced, gold prices may drop by nearly ₹3,000 per 10 grams, while silver prices could decline by around ₹6,000 per kilogram.

At present, in January 2026, 24-carat gold is trading at around ₹1,68,475 per 10 grams, while silver is priced at approximately ₹3,57,163 per kg. A duty cut could bring short-term relief to consumers and investors amid record-high commodity prices.

Why Gold and Silver Prices Rose Sharply in 2025

Gold and silver delivered exceptional returns last year. In 2025, gold prices surged nearly 75%, while silver jumped a massive 167%. Experts point to multiple global and domestic factors behind this rally:

 Global tensions and wars: Rising geopolitical risks pushed investors towards gold as a safe-haven asset.

 Weak US dollar: Rate cuts by the US Federal Reserve weakened the dollar, making dollar-priced commodities like gold and silver more attractive.

 Central bank buying: Global central banks crossed 32,140 tonnes of gold reserves by December 2025, supporting prices.

 Industrial demand for silver: Over 50% of silver is used in solar panels, EV batteries and semiconductor chips.

 Limited mining supply: Demand rose faster than supply, creating a shortage.

Will Budget 2026 Duty Cut Impact Gold Prices?

Currently, gold attracts a total tax of about 9%, including import duty and GST. According to experts, reducing the import duty on gold could help curb smuggling and narrow the gap between international and domestic prices. In the July 2024 budget, a similar duty cut boosted jewellery demand by nearly 10%.

However, analysts caution that the impact may be temporary. International market trends play a bigger role in determining long-term gold prices.

Should You Invest in Gold and Silver Now?

Market experts advise investors not to rush into bulk purchases before the budget. Naveen Mathur of Anand Rathi suggests a “buy-on-dips” strategy, while Motilal Oswal’s Navneet Damani expects high volatility in early 2026 but remains positive on the long-term outlook.

Two popular ways to invest:

 Physical gold and silver: Coins and bars from trusted sellers.

 Gold and Silver ETFs: Safer, digital options with guaranteed purity.

Why This Matters Right Now

With Budget 2026 around the corner and commodity markets at elevated levels, any policy move can directly impact household savings, jewellery demand and green energy manufacturing. A duty cut could offer short-term relief and boost consumption.

Interestingly, Indian households hold nearly 34,600 tonnes of gold—worth about ₹348 lakh crore—highlighting the metal’s deep cultural and financial significance.

Bottom line: Keep an eye on Budget 2026 announcements, track global cues, and invest in gold and silver gradually rather than all at once.