Bullion market rally:Gold surges to ₹1.52 lakh/10 gm; silver climbs to ₹2.34 lakh/kg this week

Gold and silver prices witnessed a steady upward trend this week, bringing cheer to investors. According to the latest data from the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold (10 grams) surged by ₹2,742 to touch ₹1.52 lakh. This is a notable increase from the previous week’s close of ₹1.50 lakh on August 8. Silver followed a similar trajectory, climbing by ₹2,461 to close at ₹2.34 lakh per kilogram, up from its previous rate of ₹2.31 lakh. Gold and Silver Maintain Upward Trajectory in 2026 The bullion market has seen significant volatility this year, but the overall trend remains highly bullish. Gold’s Stellar Run: So far in 2026, gold prices have skyrocketed by approximately ₹19,000. On December 31, 2025, 10 grams of 24-carat gold was trading just above ₹1.33 lakh; it has now scaled to ₹1.52 lakh. Silver’s Steady Growth: Silver has registered a growth of ₹4,000 this year, rising from ₹2.30 lakh per kg on December 31, 2025, to its current price of ₹2.34 lakh. Notably, both precious metals hit historic lifetime highs earlier this year on January 29, with gold peaking at ₹1.76 lakh and silver touching a massive ₹3.86 lakh. Gold could go up to 1.60 lakh this year Expert Outlook: Gold May Hit ₹1.60 Lakh by Year-End According to commodity expert Ajay Kedia, the current rates present a healthy entry point for buyers. Gold and silver prices have corrected significantly from their all-time highs. This correction offers a good opportunity for investors. However, instead of making lump-sum investments, investors should opt for a staggered approach of buying in tranches. -Commodity expert Ajay Kedia He projects that by the end of 2026, gold could test the ₹1.60 lakh/10 gm mark again, while silver is expected to reach ₹2.80 lakh/kg. Smart Buyer’s Guide: 2 Things to Keep in Mind When Buying Gold If you are planning to buy gold during this rally, retail experts recommend keeping these two crucial factors in mind: Insist on BIS Hallmarked Gold: Always purchase certified gold carrying the Bureau of Indian Standards (BIS) hallmark. Look for the unique six-digit alphanumeric HUID (Hallmark Unique Identification) code (e.g., AZ4524). This ensures the purity and caratage of the gold. Cross-Check Daily Rates: Before making a purchase, verify the daily gold rates from reliable sources like the official IBJA website. Remember that gold prices vary significantly based on purity—24-carat (pure gold), 22-carat (used for jewelry), and 18-carat. How to Spot Genuine Silver: 4 Simple DIY Tests With silver prices on the rise, the market often sees an influx of counterfeit products. Here are four simple ways to test the authenticity of silver at home: The Magnet Test: Pure silver is non-magnetic. If your silver jewelry or coin clings to a magnet, it is likely mixed with iron or other magnetic metals. The Ice Test: Silver is an excellent thermal conductor. Place an ice cube directly on the silver item; if it begins to melt rapidly (faster than it would at room temperature), the silver is genuine. The Smell Test: Authentic silver is completely odorless. If you detect a distinct metallic or copper-like smell, the item is likely an alloy or fake. The Cloth Test: Gently rub the silver item with a clean white cloth. If the cloth gets black smudge marks, it is a sign of genuine silver oxidizing when exposed to air and friction.