Gold and silver prices witnessed a sharp surge in domestic markets on Monday, August 17, tracking strong demand. According to the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold jumped by ₹1,703, crossing the ₹1.54 lakh per 10 grams mark. Silver mirrored this bullish momentum, surging by ₹2,531 to trade at ₹2.36 lakh per kilogram. The precious metals have seen a phenomenal run this month. In the first 17 days of August alone, gold prices have shot up by ₹11,000, while silver has become pricier by ₹18,000. Bullion Market Performance in 2026: A Year of High Volatility The year 2026 has been marked by significant fluctuations in the bullion market, though the overall trajectory remains highly profitable for investors. Gold’s 2026 Journey: Gold has appreciated by ₹21,000 so far this year. On December 31, 2025, 10 grams of 24-carat gold was priced just above ₹1.33 lakh; it now stands at ₹1.54 lakh. Silver’s 2026 Journey: Silver has seen a modest year-to-date (YTD) gain of ₹6,000, rising from ₹2.30 lakh per kg on December 31, 2025, to ₹2.36 lakh per kg today. All-Time Highs: Earlier this year, on January 29, 2026, both metals hit historic peaks, with gold touching ₹1.76 lakh per 10g and silver skyrocketing to ₹3.86 lakh per kg. Expert Outlook: Staggered Investment Recommended Despite the recent rally, current prices are still trading significantly below their January peaks, presenting a buying opportunity for retail investors. Gold and silver have corrected healthily from their all-time highs. While this is an attractive entry point for investors, they should avoid lump-sum investments. Instead, a staggered investment approach (SIP style) is highly recommended. By the end of 2026, we expect gold to test the ₹1.60 lakh mark again, while silver could rally up to ₹2.80 lakh. -Ajay Kedia, Commodity Expert Director, Kedia Advisory Smart Buyer’s Guide: 2 Things to Keep in Mind When Buying Gold With prices soaring, ensuring the purity of your purchase is paramount. Keep these two rules in mind: Insist on Certified Gold: Always buy Bureau of Indian Standards (BIS) hallmarked gold. Look for the unique 6-digit alphanumeric HUID (Hallmark Unique Identification) code (e.g., AZ4524) stamped on the jewellery. This ensures the exact carat purity of the metal. Cross-Check Live Rates: Before making a purchase, verify the day’s official rate from reliable sources like the official IBJA website. Remember that rates differ significantly based on purity levels: 24-carat (pure gold), 22-carat (standard jewellery), and 18-carat (studded jewellery). DIY Purity Check: 4 Simple Ways to Identify Real Silver If you are buying silver coins, utensils, or jewellery, you can perform these quick tests at home to check for authenticity: The Magnet Test: Silver is non-magnetic. If your silver item sticks to a strong magnet, it is likely mixed with iron or nickel and is fake. The Ice Test: Silver has the highest thermal conductivity of any metal. Place an ice cube directly on the silver item; if it melts exceptionally fast (faster than at room temperature), the silver is genuine. The Smell Test: Pure silver is completely odorless. If the item emits a distinct metallic or copper-like smell, it contains high levels of base metal alloys. The Cloth Test: Gently rub the silver item with a clean white cloth. If a black residue or smudge appears on the cloth, it is a sign of genuine silver reacting to air (tarnishing). Post navigation High-level committee to be formed soon for banking reforms:Finance Minister says banks have lowest NPA, this is right time to bring reforms Two more Air India pilots fail drug test:Daily checks underway after Phuket-Delhi flight incident
