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- Gold & Silver Prices Fall | 1kg Silver ₹2.55 Lakh, 10g Gold ₹1.54 Lakh
New Delhi5 minutes ago
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There is a fall in the prices of gold and silver on June 5. According to India Bullion and Jewelers Association (IBJA), one kg silver has fallen by Rs 6,138 to Rs 2.55 lakh, which was Rs 2.61 lakh on Thursday.
At the same time, 10 grams of 24 carat gold has decreased by Rs 1,896 to Rs 1.54 lakh. Earlier on June 4 it was at 1.66 lakh. Gold has become cheaper by Rs 21,931 and silver by Rs 1,30,983 in 127 days from all-time high. On January 29, gold was at ₹1.76 lakh/10 grams and silver at ₹3.86 lakh/kg.
4 reasons why gold prices differ in different cities
- Transportation and Security: Fuel and security costs are involved in transporting gold from one city to another, which increases the price as the distance increases.
- Purchase quantity: Due to high consumption in South India (about 40%), jewelers make large purchases, but the benefit of discount is limited.
- Local Jewelery Association: State and city jewelery associations decide the rates based on local demand and supply.
- Old Stock and Purchase Price: The buying rate of jewelers decides at what price they will sell to customers.
Silver fell by Rs 1.31 lakh from all time high
This year, there are continuous fluctuations in the prices of gold and silver. On December 31, 2025, 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 21,931.
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 1.31 lakh in 127 days.
Import duty on gold and silver increased from 6% to 15%
The Central Government has increased the duty on import of gold and silver from 6% to 15%. The aim of the government is to reduce foreign purchases and reduce the pressure on the country’s foreign exchange reserves. The government has taken this decision amid the US-Iran war.
The government has imposed 10% basic custom duty and 5% Agriculture Infrastructure and Development Cess (AIDC) on gold. In this way the total effective tax becomes 15%. Earlier, in the budget of 2024, Finance Minister Sitharaman had reduced the import duty from 15% to 6%.
Possibility of increase in smuggling due to increase in taxes
At the same time, people associated with the industry say that increasing taxes may increase smuggling. Earlier, when duty was reduced, smuggling had reduced.
Surendra Mehta, National Secretary of India Bullion and Jewelers Association, said that the government has taken this step to keep the current account deficit under control. This decision may affect demand amid already high prices.
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 melts faster on real silver.
Smell Test: Real silver has no smell. Fakes 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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