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There was a rise in the prices of gold and silver this week. According to India Bullion and Jewelers Association (IBJA), the price of one kg silver has increased by Rs 7,988 to Rs 2.37 lakh. Before this, it was at Rs 2.29 lakh last week i.e. on 11th September.
At the same time, the price of 10 grams of 24 carat gold has increased from Rs 1.52 lakh to Rs 1,54 lakh. Its price increased by Rs 1,789 this week.
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 may reach ₹1.70 lakh and silver ₹3 lakh by December
According to Anindya Banerjee, Senior VP, Kotak Securities, along with the common people, central banks around the world like RBI are also continuously buying gold. Even in the environment of further uncertainty, the rise in gold will continue and when the situation improves, there will be a big rise in silver. Looking at the current trend, gold can reach ₹ 1.70 lakh and silver can reach ₹ 3 lakh by December.
Gold became costlier by ₹ 21 thousand this year
This year, there are continuous fluctuations in the prices of gold and silver. Gold has become costlier by Rs 21 thousand so far in 2026. On December 31, 2025, 10g gold was at Rs 1.33 lakh, which has now reached Rs 1.54 lakh.
Whereas silver was Rs 2.30 lakh per kg on December 31, 2025, which has now reached Rs 2.37 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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