Gold becomes ₹6,471/10 gm costlier this week:Silver rises to ₹17,317/kg to ₹2.34 lakh/kg

This week, gold and silver prices saw an upward trend. Gold rose by ₹6,471 during the week to reach ₹1.46 lakh per 10 grams. Earlier, it was at ₹1.40 lakh last week, i.e., on June 25. Meanwhile, silver has increased from ₹2.17 lakh per kilo to ₹2.34 lakh. This means its price increased by ₹17,317. Gold and silver prices have come down significantly from their all-time highs, so this surge has come from investors buying at lower levels. 4 reasons why gold prices differ in different cities Gold became ₹13,145 and silver ₹3,438 costlier this year This year, the prices of gold and silver have been continuously fluctuating. In 2026 so far, gold has become expensive by ₹13,145 and silver by ₹3,438. On December 31, 2025, 10g gold was at ₹1.33 lakh , which has now reached ₹1.46 lakh . Meanwhile, silver was at ₹2.30 lakh per kilogram on December 31, 2025, which has now reached ₹2.34 lakh. During this period, on January 29, gold made an all-time high of ₹1.76 lakh and silver made an all-time high of ₹3.86 lakh . Import duty on gold and silver increased from 6% to 15% The central government increased the import duty on gold and silver from 6% to 15% in May 2026. The objective is to reduce foreign purchases and decrease the pressure on the country’s foreign exchange reserves. The government has imposed a 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%. License required to import foreign jewellery Additionally, the government has moved gold, silver, and platinum jewelry from the ‘Free’ category to the ‘Restricted’ category. This is directly impacting market supply, causing gold and silver prices to rise. According to a notification issued by the Directorate General of Foreign Trade (DGFT), now a special license or permission from the government will be required to import jewelry made from these precious metals from any country. The government has taken this step to prevent misuse of Free Trade Agreements (FTA). 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