Gold and silver prices decline this week:Gold slips by ₹1,648, silver sees huge ₹8,238 drop; analysts expect wedding season to push rates higher

The prices of gold and especially silver saw a notable decline this week (November 15-22, driven by broader global market trends. Gold, which was priced at ₹1,24,794 per 10 grams on Nov 15, fell to ₹1,23,146 by Nov 22 — a weekly drop of ₹1,648. Silver also declined sharply, from ₹1,59,367 per kg to ₹1,51,129 this week, down by ₹8,238, according to the India Bullion and Jewellers Association (IBJA). On Oct 17, gold had hit an all-time high of ₹1,30,874, while silver reached a record ₹1,78,100 on Oct 14. IBJA gold prices do not include 3% GST, making charges, or jewellers’ margins, which is why city rates differ. The RBI uses IBJA prices to determine Sovereign Gold Bond rates, and many banks rely on them to set gold loan values. Gold up ₹47,000 and Silver up ₹65,000 This Year Price Volatility Likely Experts say gold prices may fluctuate in the coming days. However, the ongoing wedding season is expected to support demand, potentially pushing prices back toward ₹1.25 lakh. Buy Only Certified Gold Always purchase BIS-hallmarked gold. The hallmark number is alphanumeric—for example, AZ4524—and indicates the gold’s purity and caratage.