New Delhi: Gold and silver prices continued their downward trend on Wednesday, with bullion markets witnessing fresh declines amid profit-booking and global uncertainty linked to geopolitical tensions.
According to the India Bullion and Jewellers Association (IBJA), the price of silver fell by Rs 4,503 per kilogram, bringing the rate down to Rs 2.62 lakh.
The price of 10 grams of 24-carat gold also declined by Rs 571, settling at Rs 1.57 lakh.
Market data showed that silver prices have fallen by nearly Rs 9,000 over the past two trading sessions.
Gold Down Rs 19,000 From Record Peak
Gold prices had surged sharply at the start of 2026 before entering a correction phase in recent weeks.
According to market figures:
- Gold stood at Rs 1.33 lakh on December 31, 2025
- It touched a record high of Rs 1.76 lakh on January 29, 2026
- Prices have now declined by around Rs 19,000 from the peak
Analysts attributed the fall to large-scale profit-booking after bullion reached historic levels earlier this year.
Silver Witnesses Sharper Volatility
Silver has experienced even greater fluctuations compared with gold during recent months.
According to IBJA data:
- Silver was priced at Rs 2.30 lakh on December 31, 2025
- It climbed to an all-time high of Rs 3.86 lakh on January 29, 2026
- Prices have since fallen by approximately Rs 1.24 lakh over the past 118 days
Market observers said silver’s higher volatility has amplified price swings during the ongoing correction.
Why Bullion Prices Are Falling
Traditionally, gold and silver prices tend to rise during periods of war or geopolitical uncertainty.
However, analysts said the current market behaviour reflects a different investor strategy.
According to experts, investors are increasingly focused on:
- Preserving liquidity amid uncertainty linked to the Middle East conflict
- Selling bullion holdings to accumulate cash reserves
- Booking profits after January’s record rally
The increased supply resulting from large-scale selling by investors has placed downward pressure on bullion prices.
Markets Watching Global Developments
Traders said future movement in gold and silver prices will continue to depend on:
- Developments in the Middle East
- Global investor sentiment
- Commodity market trends
- Currency fluctuations
Despite the recent decline, bullion prices remain substantially higher than levels recorded at the end of last year.
