New Delhi38 minutes ago
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There was a decline in the prices of gold and silver this week. According to India Bullion and Jewelers Association (IBJA), the price of 10 grams of 24 carat gold has increased from Rs 1.52 lakh to Rs 1.48 lakh. Its price has increased by about Rs 4,000 this week.
The price of one kg silver has fallen by Rs 11,521 to Rs 2.21 lakh. Earlier, it was at Rs 2.32 lakh last week i.e. on 25th September. There will be no trading in the market today on 2nd October on the occasion of Gandhi Jayanti.
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.
Gold became costlier by ₹ 14,939 this year and silver fell by ₹ 9,591
This year, there are continuous fluctuations in the prices of gold and silver. Gold has become costlier by Rs 14,939 so far in 2026. At the same time, silver has become cheaper by Rs 9,591. On December 31, 2025, 10g gold was at Rs 1.33 lakh, which has now reached Rs 1.48 lakh.
At the same time, silver was Rs 2.30 lakh per kg on December 31, 2025, which has now come down to Rs 2.21 lakh. During this period, on January 29, gold had made an all-time high of Rs 1.76 lakh and silver had also made an all-time high of Rs 3.86 lakh.
Keep these 2 things in mind while buying gold from jewelers
- 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.
- 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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