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Gold and silver prices have increased on August 20. According to India Bullion and Jewelers Association (IBJA), the price of one kg silver has increased by Rs 9,260 to Rs 2.38 lakh. The price of 10 grams 24 carat gold has increased by Rs 3,519 to Rs 1.57 lakh.
In this month i.e. August, in just 20 days, gold has become costlier by Rs 15 thousand and silver by Rs 20 thousand. According to experts, gold can go up to Rs 1 lakh 70 thousand by the end of this year.
Gold has become costlier by ₹ 24 thousand this year
This year, there are continuous fluctuations in the prices of gold and silver. Gold has become costlier by Rs 24 thousand so far in 2026. On December 31, 2025, 10g gold was at Rs 1.33 lakh, which has now reached Rs 1.57 lakh.
At the same time, silver was at Rs 2.30 lakh per kg on December 31, 2025, which has now reached Rs 2.38 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.
By December, gold can reach Rs 1.70 lakh and silver can reach Rs 3 lakh.
According to Anindya Banerjee, Senior VP and Commodity Research Head, Kotak Securities, it is said that gold has the support of common investors as well as central banks around the world like RBI, which are continuously buying gold.
Even in difficult circumstances, gold will remain bullish. If the situation improves, a rise in silver may also be seen. According to the future situation that we are seeing, the price of gold can reach Rs 1.70 lakh by December. The price of silver can also go up to Rs 3 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 (like 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 turning gold into jewellery. It is not fixed, so you can negotiate on it. Jewelers are often willing to reduce this, especially if you are making a large purchase. You should directly ask for the breakup of labor cost from them, 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 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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