Gold and silver rates today: 24-carat gold drops to ₹1,55,125 per 10 grams; check city rates
Precious metal prices recorded a decline in the domestic market on Monday. Data from IBJA shows that 24-carat gold was priced at ₹1,55,125 per 10 grams, while 22-carat gold stood at ₹1,42,095 per 10 grams. Lower-purity gold, including 18-carat and 14-carat, also traded lower.
Precious metal prices recorded a decline in the domestic market on Monday. Lower-purity gold, including 18-carat and 14-carat, also traded lower.
Market analysts state that the decline in gold and silver prices is linked to a sharp rise in global crude oil prices. Crude oil prices surged following military tension in the Middle East.
What Happened
Reports indicate that US forces attacked an Iranian island in the Strait of Hormuz, while Iran targeted US military bases in Jordan. Higher oil prices created volatility across commodity markets, prompting investors to adjust positions in precious metals.
Data from IBJA shows that 24-carat gold was priced at ₹1,55,125 per 10 grams, while 22-carat gold stood at ₹1,42,095 per 10 grams.
Silver prices mirrored the drop in gold, falling to ₹2,35,455 per kilogram compared to its previous closing rate.
Both metals have shown significant price movements throughout 2026.
Key Details
Gold prices differ across states due to local taxes, transport costs, and supply conditions. Transportation and Security Costs: Moving physical gold across states involves freight and security charges.
Gold started the year at ₹1,33,195 per 10 grams on December 31, 2025, and reached a high of ₹1,76,000 on January 29, 2026.
Since reaching that peak, gold has decreased by ₹21,000 per 10 grams.
Silver began the year at ₹2,30,420 per kilogram on December 31, 2025, before touching an all-time high of ₹3,86,000 on January 29, 2026.
Why It Matters
Large volume purchases by local jewelers alter regional supply dynamics. Jewelry Association Decisions: State and local jeweler associations adjust rates daily according to regional market demand and supply.
From its peak, silver has declined by ₹1,51,000 per kilogram.
Regional Purchase Volumes: South India accounts for nearly 40% of India's gold consumption.
What Reports Say
Coverage of the story so far points to:
Continued reporting by Bhaskar English as more details emerge
