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- Silver Falls ₹8,350, Gold Down ₹1,748 Amid US Iran Tensions; Experts Advise Caution
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Due to the ongoing war between America and Israel with Iran, the prices of silver and gold are falling today on March 13. According to India Bullion and Jewelers Association (IBJA), 10 grams of 24 carat gold has fallen by Rs 1,748 to Rs 1.58 lakh. Earlier on March 12, gold was Rs 1,60 lakh per 10g.
At the same time, the price of one kg silver has decreased by Rs 8,350 to Rs 2.60 lakh. Earlier on Friday its price was Rs 2.68 lakh per kg.
4 reasons why gold prices differ in different cities
- Transportation and Security: Transporting gold from one city to another involves fuel and heavy security costs. As distance from import centers increases, transportation costs increase, which increases local prices.
- Purchase quantity: In areas like South India, due to high consumption (about 40%), jewelers buy gold in large quantities. Customers get the benefit of this discount in the form of lower prices.
- Local Jewelery Association: Every state and city has its own jewelery associations (e.g. Madras Jewelers Association in Tamil Nadu). These organizations decide the rate of gold for their area based on local demand and supply.
- Old Stock and Purchase Price: The rate at which the jewelers purchased their stock also matters. Jewelers who have old stock purchased at cheaper rates can charge lower prices to customers.
Silver fell by Rs 1.26 lakh from all time high
This year, there are continuous fluctuations in the prices of gold and silver. On December 31, 2026, the price of gold was Rs 1.33 lakh, which increased to the highest level of Rs 1.76 lakh on January 29. Since then, gold has become cheaper by Rs 17,566.
At the same time, the price of silver was Rs 2.30 lakh on December 31, 2025, which reached an all-time high of Rs 3.86 lakh on January 29. Since then, silver has become cheaper by Rs 1,25,982 lakh in 44 days.
3 big reasons for falling prices
- Less expectation of interest rate cut: Inflation data in America has reduced the chances of the Federal Reserve cutting interest rates soon. It is believed that the rates will not be reduced in the March meeting.
- Increased reliance on cash: The ongoing war between America and Israel with Iran has increased uncertainty in the market and investors are preferring to keep cash in hand instead of gold. This has affected the demand for gold.
- Expensive oil and stock market decline: Due to the Middle East war, oil prices are also increasing, leading to selling in stock markets around the world. This is also affecting the commodity market.
Expert View- Avoid investing in gold and silver now
According to commodity expert Ajay Kedia, people are making profits in gold and silver to compensate for the losses in the stock market. Due to this there is a fall in the prices of gold and silver.
According to Ajay Kedia, this decline may continue further. Due to this, gold can cost up to Rs 1.50 lakh and silver can cost up to Rs 2.50 lakh. In such a situation, investors should avoid investing in gold and silver right now.
Keep these 2 things in mind while buying gold from jewelers
1. Buy only certified gold: Always buy certified gold bearing the hallmark of Bureau of Indian Standards (BIS). This number can be alphanumeric i.e. something like this – AZ4524. Hallmarking shows how many carats the gold is.
2. Price Cross Check: Cross-check the correct weight of gold and its price on the day of purchase from multiple sources (such as the website of India Bullion and Jewelers Association). The price of gold varies according to 24 carat, 22 carat and 18 carat.
4 ways to identify real silver
Magnet Test: Real silver does not stick to magnets. If it sticks then it is fake.
Ice Test: Place ice on silver. Ice will melt much faster on real silver.
Smell Test: Real silver has no smell. Fakes may smell like copper.
Cloth Test: Rub the silver with a white cloth. If a black mark appears then it is real.
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Indian households have more gold than the country’s GDP: 34,600 tonnes of gold worth ₹450 lakh crore, country’s GDP ₹370 lakh crore
The total value of gold held by Indian households has crossed $5 trillion (₹450 lakh crore). This figure is more than the country’s total GDP of 4.1 trillion dollars i.e. Rs 370 lakh crore. This has happened due to gold prices reaching record high. According to a report by Morgan Stanley, about 34,600 tonnes of gold is deposited in Indian homes.
Currently the value of gold is around Rs 1.38 lakh per 10 grams. Whereas in the international market, gold is trading beyond $ 4,500 per ounce (about 28 grams). If we convert it into rupees then its value is around Rs 1.30 lakh per 10 grams. Read the full news…
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