The ongoing war between US-Israel and Iran continues to cause a decline in gold and silver prices. According to the India Bullion and Jewelers Association (IBJA), 10 grams of 24 carat gold has decreased by ₹12,077 to reach ₹1.35 lakh. Previously, its price was ₹1.47 lakh. Meanwhile, the price of one kilogram of silver has decreased by ₹30,864 to reach ₹2.01 lakh. Earlier on Friday, its price was ₹2.32 lakh per kilo. Due to the America-Iran war, gold has become cheaper by ₹23,956 and silver by ₹65,200 in 24 days. 4 reasons why gold prices differ in different cities Gold price journey: from ₹1.76 lakh to ₹1.35 lakh Gold showed an upward trend at the beginning of this year, but in the past few weeks, it has declined due to profit booking and global factors. Initial Level (December 31, 2025): ₹1.33 lakh All-Time High (January 29, 2026): ₹1.76 lakh (massive surge in just one month) Current Situation: Gold has become cheaper by ₹41,000 from its peak level. Major crash in silver prices: from ₹3.86 lakh to ₹2.30 lakh Silver has seen much more volatility compared to gold. It has fallen rapidly from its all-time high. Starting level (31 December 2025): ₹2.30 lakh All Time High (29 January 2026): ₹3.86 lakh (Historic rise) Decline figure: Silver has become cheaper by ₹1.84 lakh in the last 55 days. Gold cheaper by ₹40,980 and Silver by ₹1.84 lakh in 55 days Main reasons for decline: Trust in ‘Cash’ over metal Usually, gold and silver prices rise during times of war, but this time the situation is slightly different: According to commodity expert Ajay Kedia, this decline in gold-silver prices may continue further. In such a situation, investors should avoid investing in gold and silver for now. Keep these 2 things in mind while buying gold from jewellers 1. Buy only certified gold: Always buy certified gold with Bureau of Indian Standards (BIS) hallmark. This number can be alphanumeric like AZ4524. Hallmarking indicates how many carats the gold is. 2. Cross check prices: Cross check the correct weight of gold and its price on the day of purchase from multiple sources (like India Bullion and Jewellers Association website). Gold rates vary according to 24 carat, 22 carat and 18 carat. 4 Ways to Identify real silver: Magnet Test: Real silver does not stick to magnets. If it sticks, it’s fake. Ice Test: Place ice on silver. Ice will melt very quickly on real silver. Smell Test: Real silver has no odor. Fake silver may have a copper-like smell. Cloth Test: Rub silver with white cloth. If it leaves a black mark, it’s genuine. Post navigation Budget Session proceedings begin in Lok Sabha:Sitharaman likely to table Finance Bill Corporate Law Amendment Bill Zara closes half of its stores in China:Adapts premium pricing strategy to compete with Chinese fashion brands like ‘Shein’ ‘Temu’
