New Delhi3 minutes ago
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There is a rise in the prices of gold and silver today after falling for three consecutive days. According to India Bullion and Jewelers Association (IBJA), 10 grams of 24 carat gold rose by Rs 817 to reach ₹1.60 lakh. Earlier on Friday, its price was Rs 1.58 lakh per 10 grams.
At the same time, one kg of silver has increased by Rs 2,080 to reach ₹ 2.63 lakh. Earlier on Friday its price was Rs 2.60 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 discount on bulk purchasing 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.
Gold became costlier by ₹ 26,373 and silver by ₹ 32,383 this year
This year, there are continuous fluctuations in the prices of gold and silver. So far in 2026, gold has become costlier by Rs 26,373 and silver by Rs 32,383. 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.
Main reasons for increase in gold and silver prices
- Due to increasing geopolitical tension in the Middle East, demand for safe investments increased, due to which gold and silver prices increased.
- The Middle East crisis made crude oil expensive, which increases inflation and supports gold as an inflation hedge.
- Due to instability in global markets, investors ran towards gold and silver, and Central Banks (like India-China) are continuously buying.
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
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.
Read this news also…
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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