Gold and Silver Prices Plummet on July 28 Amid Global Market Fluctuations

The India Bullion and Jewellers Association (IBJA) reported that gold and silver prices have declined on Monday, July 28. The price of 24-carat gold fell by ₹1,907 per 10 grams, bringing it down to ₹1.43 lakh per 10 gm.

Silver, on the other hand, dropped by ₹6,543 per kilogram, reducing its rate to ₹2.18 lakh per kg. Despite this decline, silver has still gained around ₹10,000 in value since the beginning of 2026.

Gold prices have shown significant volatility throughout 2026, but remain up ₹10,000 from December 31, 2025. In comparison, silver's price on December 31 was ₹2.30 lakh per kg, marking a decline of nearly ₹12,000 to its current rate.

Experts advise against making lump-sum investments in gold and silver, suggesting that investors consider gradual investment strategies instead. According to commodity expert Ajay Kedia, gold could potentially rise again to ₹1.60 lakh per 10 grams by the end of the year, while silver may climb to around ₹2.80 lakh per kg if global market conditions remain supportive.