Silver prices crash, fall ₹19,693/kg in a single day:Gold becomes ₹3,000/10 gm cheaper

Gold and silver prices have fallen today on May 15. According to the India Bullion and Jewellers Association (IBJA), one kilogram of silver has decreased by ₹19,693 to ₹2.68 lakh, which was at ₹2.87 lakh on Thursday. Meanwhile, 10 grams of 24-carat gold has fallen by ₹3,000 to ₹1.58 lakh . Earlier on April 16, it was at ₹1.61 lakh. Gold has become cheaper by ₹17,962 and silver by ₹1,18,433 in 106 days from its all-time high. On January 29, gold was ₹1.76 lakh/10 grams and silver was ₹3.86 lakh/kg. At rallies in Karnataka and Telangana, the PM had appealed to people to reduce consumption of petrol-diesel and not to buy gold for one year. Gold becomes ₹18,000 cheaper from all-time high This year, the prices of gold and silver have been continuously fluctuating. Crash in Silver: From ₹3.86 lakh to ₹2.68 lakh Silver has witnessed more volatility compared to gold and has rapidly declined from its all-time high. PM appealed not to buy gold for one year The Prime Minister said, ‘There was a time when during a crisis, people would donate gold in the national interest. Today there is no need for donation, but in the national interest we have to decide that for one year, whatever program happens at home, we will not buy gold jewelry. Our patriotism is challenging us to save foreign exchange and we have to accept this and save foreign exchange.’ Why this was said: PM Modi made this appeal to save India’s foreign exchange reserves. India imports about 99% of the gold it uses from foreign countries. In 2025-26, this gold import bill was around 6.4 lakh crore . With a 9% share in the total expenditure on goods purchased from abroad, gold ranks second. Keep these 2 things in mind when buying gold from jewellers 1. Buy only certified gold: Always buy certified gold with the Bureau of Indian Standards (BIS) hallmark. This number can be alphanumeric, something like this – AZ4524. Hallmarking indicates how many carats the gold is. 2. Cross-check the price: Cross-check the correct weight of gold and its price on the day of purchase from multiple sources (such as the India Bullion and Jewellers Association website). The price of gold varies according to 24 carat, 22 carat and 18 carat. 4 Ways to Identify Real Silver