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There is good news for those buying gold and silver during the festive season. According to India Bullion and Jewelers Association (IBJA), one kg of silver has fallen by Rs 6,678 to Rs 1.84 lakh, which was Rs 1.90 lakh on Thursday. At the same time, 10 grams of 24 carat gold has fallen by Rs 1,364 to Rs 1.41 lakh.
Silver has fallen by Rs 37,029 and gold by Rs 7,247 this month. Earlier on October 1, 2026, the price of one kg silver was Rs 2.20 lakh and 10 grams of gold was Rs 1.48 lakh.
Silver fell by Rs 1.96 lakh from all time high
This year, there are continuous fluctuations in the prices of gold and silver. The price of silver was Rs 2.30 lakh on December 31, 2025, which reached an all-time high of Rs 3.86 lakh on January 29. Since then, silver has become cheaper by Rs 1.96 lakh.
At the same time, the price of gold was Rs 1.33 lakh on December 31, 2025, which increased to the highest level of Rs 1.76 lakh on January 29. Since then, gold has become cheaper by Rs 35 thousand.
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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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. 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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