Silver crashes ₹10,566/kg today, becomes over ₹36,000 cheaper this month:Gold prices fall ₹2,522/10 gm in a single day

Gold and silver prices have declined on Tuesday, 23 June, 2026. According to the India Bullion and Jewellers Association (IBJA), one kilogram of silver has fallen by ₹10,566 to ₹2.27 lakh , which was at ₹2.37 lakh/kg on Monday. Meanwhile, 10 grams of 24-carat gold has dropped by ₹2,522 to 1.45 lakh. Earlier on June 22, it was at ₹1.47 lakh/10 gm. Gold prices have fallen by ₹10,748 and silver by ₹36,015 this month. On June 1, gold was at ₹1.56 lakh/10 grams and silver was at ₹3.63 lakh/kg. 4 reasons why gold prices differ in different cities Silver fell by ₹1.59 lakh/kg this year This year, the prices of gold and silver have been witnessing continuous fluctuations. On December 31, 2025, the price of gold was ₹1.33 lakh, which increased to reach its highest level of ₹1.76 lakh on January 29. Since then, gold has become cheaper by ₹31,333. Meanwhile, the price of silver was ₹2.30 lakh on December 31, 2025, which reached ₹3.86 lakh on January 29. This was the highest price of silver till date. Since then, in 145 days, silver has become cheaper by ₹1.59 lakh. Import duty on gold and silver increased from 6% to 15% The central government had increased the duty on gold and silver imports from 6% to 15%. The government’s objective is to reduce foreign purchases and decrease the pressure on the country’s foreign exchange reserves. The government has taken this decision amid the US-Iran conflict. The government had imposed 10% Basic Custom Duty and 5% Agriculture Infrastructure and Development Cess (AIDC) on gold. This brings the total effective tax to 15%. Earlier, in the 2024 budget, Finance Minister Sitharaman had reduced the import duty from 15% to 6%.
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