Gold and silver prices witnessed a correction in the domestic market today, bringing some relief to buyers. According to the India Bullion and Jewellers Association (IBJA), both precious metals saw a drop in their rates on Monday. The price of 24-carat gold fell by ₹671, bringing the cost of 10 grams down to ₹1.53 lakh. Meanwhile, silver prices saw a sharper decline, falling by ₹2,346 to trade at ₹2.35 lakh per kilogram. The 2026 Rally: Gold Up by ₹20,000 So Far This Year Despite today’s dip, precious metals have seen massive growth this year, though prices have remained highly volatile. Gold’s Journey: Gold has become more expensive by ₹20,000 since the start of 2026. On December 31, 2025, 10 grams of gold was priced at ₹1.33 lakh. It has now risen to ₹1.53 lakh. Silver’s Journey: Silver started the year at ₹2.30 lakh per kg on December 31, 2025, and is currently at ₹2.35 lakh. All-Time Highs: Earlier this year, on January 29, both metals hit historic peaks. Gold touched an all-time high of ₹1.76 lakh per 10 grams, while silver peaked at ₹3.86 lakh per kg. Outlook: Gold Could Touch ₹1.70 Lakh by December Market experts believe the long-term upward trend for precious metals remains strong. Anindya Banerjee, Senior Vice-President and Head of Commodity Research at Kotak Securities, points out that gold is backed by strong demand from both retail investors and global central banks, including the Reserve Bank of India (RBI). Gold will continue to rise despite challenging global conditions. If macroeconomic conditions improve, silver could also see a sharp rally. Based on the current outlook, gold prices could reach ₹1.70 lakh by December, while silver could climb to ₹3 lakh. -Banerjee Smart Buyer’s Guide: 2 Things to Keep in Mind When Buying Gold If you are planning to buy gold during this price dip, retail experts suggest keeping these two safety checks in mind: Always Buy Certified Hallmark Gold: Never buy gold without a Bureau of Indian Standards (BIS) hallmark. Look for the unique alphanumeric code (e.g., AZ4524) stamped on the jewelry. This hallmark guarantees the purity of the gold. Cross-Check Daily Rates: Gold prices change daily and vary based on purity (24-carat, 22-carat, and 18-carat). Before making a purchase, double-check the exact weight and the day’s official rate on reliable platforms like the official IBJA website. 4 ways to identify genuine silver Post navigation Indian markets advance on falling oil prices:Sensex jumps 400 points; today is last day to subscribe to NSE IPO India NZ finalise trade deal that takes effect from October:Prices of which kiwi products will reduce in India?
