Gold and silver prices are rising for the fourth consecutive day today, July 3. According to the India Bullion and Jewelers Association (IBJA), 10 grams of 24-carat gold has increased by ₹3,104 to reach Rs ₹46,107. Earlier on Thursday, its price was ₹1,43,003 per 10 grams. Meanwhile, one kilogram of silver increased by ₹4,504 to reach ₹2,33,354. Earlier, on June 2, its price was ₹2,28,850 per kilogram. Gold has become costlier by ₹4,686 and silver by ₹13,374 in the last four days. Earlier on Monday, gold was at ₹1.41 lakh and silver at ₹2.2 lakh. 4 reasons why gold prices are different in different cities Gold is ₹12,908, and Silver is ₹2,934 more expensive this year This year, the prices of gold and silver have been continuously fluctuating. Gold has become costlier by ₹12,908 and silver by ₹2,934 so far in 2026. On December 31, 2025, 10g of gold was at ₹1.33 lakh, which has now reached ₹1.46 lakh. Meanwhile, silver was ₹2.30 lakh per kg on December 31, 2025, and has now reached ₹2.33 lakh per kg. During this period, on January 29, gold also made an all-time high of ₹1.76 lakh and silver of ₹3.86 lakh. Import Duty on Gold-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 aim is to reduce foreign purchases and ease the pressure on the country’s foreign exchange reserves. The government has imposed a 10% Basic Customs Duty and a 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 jewelry 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), a special license or permission from the government will now be required to import jewelry made from these precious metals from any country. The government has taken this step to prevent the misuse of Free Trade Agreements (FTAs). Keep these 2 things in mind when buying gold from jewelers 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 the caratage of the gold. 2. Cross-check the price: Cross-check the correct weight of the gold and its price on the day of purchase from several sources (such as the India Bullion and Jewelers Association website). The price of gold varies according to 24 carat, 22 carat, and 18 carat. 4 ways to identify real silver Post navigation 10% annual increase in travel insurance, youth at the forefront:Rich youth’s changed preference; 40% Indians going to new countries like Japan-Maldives for holidays
