Gold rates up ₹1,849/10 gm crossing ₹1.52 lakh mark:Silver prices rise to ₹2.34 lakh/kg; experts predict further rally

Gold and silver prices surged on Tuesday, August 11, continuing their aggressive upward trajectory. According to the India Bullion and Jewellers Association (IBJA), 24-carat gold jumped by ₹1,849 to hit ₹1,52,490 per 10 grams. Meanwhile, silver prices rallied by ₹2,907, climbing to ₹2,34,280 per kilogram. In the first ten days of August alone, gold prices have skyrocketed by ₹9,630, while silver has surged by ₹15,985, intensifying buying interest among retail investors. Gold Prices by Carat (August 11, 2026) Gold Prices Across Major Indian Cities Retail gold prices varied across major Indian cities due to local taxes, octroi, and making charges: Source: Goodreturns (August 11, 2026) Precious Metals Maintain Strong YTD Rally in 2026 Precious metals have witnessed high volatility this year, but the broader trend remains firmly bullish. Since the beginning of 2026, gold has gained nearly ₹19,000. On December 31, 2025, gold traded at ₹1,33,195 per 10 grams, which has now risen to over ₹1.52 lakh. Silver prices have also edged up by approximately ₹4,000 from ₹2,30,420 per kg on December 31, 2025, to ₹2,34,280 per kg. Notably, both metals hit lifetime highs earlier this year on January 29, with gold peaking at ₹1.76 lakh and silver touching ₹3.86 lakh. Gold Silver Performance Tracker (YTD 2026) Source: IBJA Gold May Touch ₹1.60 Lakh by Year-End: Experts Commodity expert Ajay Kedia points out that the recent correction from lifetime highs offers a lucrative entry point for investors. However, he advises against lump-sum investments, recommending a staggered approach instead. Kedia projects that gold could retest the ₹1.60 lakh mark, while silver could hit ₹2.80 lakh by the end of the year. Smart Investing: Gold and Silver ETFs Investors looking for exposure to precious metals without the hassle of physical storage can opt for Exchange Traded Funds (ETFs). How they work: Gold and Silver ETFs track real-time market prices and trade on the BSE and NSE just like equity shares. While investors do not receive physical metal, they receive cash equivalent to the prevailing market price upon redemption. Investors can start their investment journey with as little as ₹500. How to buy: To purchase ETFs, you need a demat account with a registered broker. Once purchased on the exchange, the units reflect in your demat account within two days (T+2 settlement), with the corresponding amount debited from your linked bank account. You can sell ETFs just as easily through your trading platform. Essential Checklist for Buying Physical Gold If you prefer buying physical gold from jewelers, keep these two critical factors in mind: Buy Certified Gold Only: Always buy certified gold featuring the Bureau of Indian Standards (BIS) hallmark. Look for the unique six-digit alphanumeric HUID (e.g., AZ4524) stamped on the jewelry, which verifies its purity and carat value. Cross-Check the Daily Rate: Verify the correct weight of the gold and its prevailing market price on the day of purchase from multiple reliable sources, such as the official IBJA website. Remember that prices vary significantly based on purity (24-carat, 22-carat, or 18-carat). 4 Simple Tests to Identify Genuine Silver Before purchasing silver, you can perform these quick tests to verify its authenticity: The Magnet Test: Real silver is non-magnetic and will not stick to a magnet. If it does, it contains impurities or is fake. The Ice Test: Place a piece of ice directly on the silver. Because silver has exceptionally high thermal conductivity, the ice will melt rapidly compared to room temperature. The Smell Test: Genuine silver is completely odorless. If you detect a distinct metallic or copper-like smell, the item likely contains high levels of base metals. The Cloth Test: Gently rub the silver item with a clean white cloth. If a black residue appears on the cloth, it indicates that the silver is real and has oxidized naturally.