Indian Gold Prices Plummet Amid Crude Oil Price Surge
Gold and silver prices plummeted sharply on Monday in India, marking a significant decline from their recent highs. According to the India Bullion and Jewellers Association (IBJA), the price of 10 grams of 24-carat gold dropped by Rs 4,453 to Rs 1,55,125.
The 22-carat gold rate also fell to Rs 1,42,095 per 10 grams, while 18-carat gold was priced at Rs 1,16,340 and 14-carat gold at Rs 90,748. The price of one kilogram of silver has fallen by Rs 8,437 to Rs 2.35 lakh.
The recent decline in precious metals is attributed to a rise in crude oil prices due to heightened tensions involving the United States and Iran. Gold prices have fluctuated significantly during 2026, with the price reaching an all-time high of Rs 1.76 lakh on January 29 before falling to its current rate.
Consumers are advised to purchase gold bearing the BIS hallmark, which indicates its purity, and cross-check the day's rate before making a purchase. Making charges are also not necessarily fixed and can be negotiated with jewellers.