Gold Prices Plummet ₹4,000 in India Amid Ongoing Market Fluctuations

Gold prices in India have dropped significantly this week, according to the India Bullion and Jewellers Association (IBJA). The price of 10 grams of 24-carat gold has fallen from ₹1.52 lakh to ₹1.48 lakh, a drop of around ₹4,000. This decrease comes after gold prices rose by ₹14,939 so far in 2026, while silver prices have fallen by ₹9,591.

The price of one kilogram of silver has also dropped, from ₹2.32 lakh to ₹2.21 lakh, a decline of ₹11,521. The IBJA notes that gold and silver prices vary across different cities due to factors such as transportation costs, local demand, and the rate at which jewellers purchase gold.

The association advises consumers to buy only certified gold bearing the Bureau of Indian Standards (BIS) hallmark and to cross-check the price from multiple sources. The article also provides tips on identifying genuine silver, including a magnet test, ice test, smell test, and cloth test.