Silver drops ₹1.27 lakh in 13 days:Gold down ₹20,008 from record high—check city-wise gold prices

After rising for two consecutive sessions, gold and silver prices declined on February 11. According to the India Bullion and Jewellers Association (IBJA), silver prices fell by ₹1,000 to ₹2.58 lakh per kilogram, compared to ₹2.59 lakh per kg on Tuesday. Silver is now ₹1.27 lakh cheaper than its all-time high of ₹3.86 lakh per kg recorded on January 29. Gold prices also eased on Wednesday. The price of 24-carat gold slipped by ₹142 to ₹1.56 lakh per 10 grams, from ₹1.56 lakh on February 10. Gold is currently down by about ₹20,008 from its record high of ₹1.76 lakh per 10 grams, also hit on January 29. Why Do Gold Prices Differ Across Cities? IBJA prices do not include 3% GST, making charges, or jewellers’ margins. This is why retail prices vary across cities. These benchmark rates are used by the RBI to set Sovereign Gold Bond prices and by banks to determine gold loan rates. Things to Keep in Mind While Buying Gold 1. Buy Only Certified Gold: Always purchase BIS-hallmarked gold. The hallmark (alphanumeric code) confirms purity and carat value. 2. Cross-check Prices: Verify the day’s gold rate and weight from reliable sources such as the IBJA website, as prices differ for 24, 22, and 18 carat gold. 4 Simple Ways to Identify Genuine Silver