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- Gold Silver Prices Fall ₹18K From All Time High, Silver Down ₹1.18 Lakh
New Delhi37 minutes ago
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There is a fall in the prices of gold and silver today on 15th May. According to India Bullion and Jewelers Association (IBJA), one kg of silver fell by Rs 19,693 to Rs 2.68 lakh, which was Rs 2.87 lakh on Thursday.
At the same time, 10 grams of 24 carat gold has decreased by Rs 3,000 to Rs 1.58 lakh. Earlier on April 16, it was at 1.61 lakh. Gold has become cheaper by Rs 17,962 and silver by Rs 1,18,433 from the all-time high in 106 days. On January 29, gold was at ₹1.76 lakh/10 grams and silver at ₹3.86 lakh/kg.
On Sunday, in the meetings of Karnataka and Telangana, the PM had appealed to the people to reduce the consumption of petrol and diesel and not to buy gold for a year.
Gold became cheaper by ₹ 18 thousand from all time high
This year, there are continuous fluctuations in the prices of gold and silver.
- Starting level (31 December 2025): ₹1.33 lakh
- All Time High (29 January 2026): ₹1.76 lakh
- present situation: From the highest level, gold has become cheaper by ₹ 18 thousand and now it has come to 1.58 lakh/10 grams.
Crash in Silver: ₹3.86 lakh to ₹2.48 lakh
Silver has been more volatile than gold and has fallen sharply from its all-time high.
- Starting level (31 December 2025): ₹2.30 lakh
- All Time High (29 January 2026): ₹3.86 lakh
- Fall figure: In the last 106 days, silver fell by ₹1.18 lakh to ₹2.68 lakh/kg.
PM appealed not to buy gold for a year
The Prime Minister said, ‘There was a time when people used to donate gold in the interest of the country when there was a crisis. There is no need for donations today, but in the interest of the country, we have to decide that we will not buy gold jewelery if there is any program at home for the whole year. Our patriotism is challenging us to save foreign exchange and we have to accept this and save foreign exchange.
why say so: PM Modi made this appeal to save India’s foreign exchange reserves. India buys about 99% of its gold consumption from abroad. This import bill of gold in 2025-26 was about Rs 6.4 lakh crore. Gold is at second place with 9% share in the total expenditure on goods purchased from abroad.
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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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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