Indian Silver Prices Tumble by ₹2,738 to ₹2.44 Lakh

Gold and silver prices have dropped in India this week. The price of one kilogram of silver has fallen by ₹2,738 to ₹2.44 lakh rupees, according to the India Bullion and Jewellers Association (IBJA). This is a decline from last week's price of ₹2.47 lakh rupees on August 21.

The price of 10 grams of 24-carat gold has dropped by ₹1,042 to ₹1.59 lakh rupees. This means that the price of gold has decreased since its all-time high of ₹1.76 lakh rupees on January 29.

Transportation and security costs, local jewelry associations' rates, purchase volume, and old stock and purchase prices are some reasons why gold prices vary in different cities. For instance, jewelers make large purchases due to higher consumption in South India (about 40%), but the benefit of discounts remains limited.

Silver has also fallen by ₹1.42 lakh from its all-time high this year. On December 31, 2025, the price of silver was ₹2.30 lakh rupees, and it reached an all-time high of ₹3.86 lakh rupees on January 29.