New Delhi21 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 fallen by Rs 4,694 to Rs 1.55 lakh.
Earlier, last week i.e. on 28th August it was at around Rs 1.60 lakh. Whereas silver has decreased from Rs 2.44 lakh per kg to Rs 2.35 lakh, its price has increased by Rs 8,436.
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 remains 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 has become costlier by ₹ 22 thousand this year
This year, there are continuous fluctuations in the prices of gold and silver. Gold has become costlier by Rs 22 thousand so far in 2026. On December 31, 2025, 10g gold was at Rs 1.33 lakh, which has now reached Rs 1.55 lakh.
At the same time, silver was Rs 2.30 lakh per kg on December 31, 2025, which has now reached Rs 2.35 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 3 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.
Making Charge Game: Making charge is the fee that jewelers charge for making gold into jewellery. It is not fixed. You can bargain on this. Jewelers are often willing to reduce this, especially if you are making a large purchase. You should directly ask them for the breakup of labor cost, so that you can get a better deal.
4 ways to identify real silver
- Magnet Test: Real silver does not stick to magnets. If it sticks then it is adulterated.
- 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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