New Delhi/Patna, June 18: Gold and silver prices declined on Thursday, June 18, according to data released by the India Bullion and Jewellers Association (IBJA). The price of 24-carat gold fell by Rs 816 to Rs 1.49 lakh per 10 grams, while silver dropped by Rs 3,988 to Rs 2.44 lakh per kilogram.
The latest decline continues a period of volatility in precious metal markets, with both gold and silver trading significantly below the record highs they touched earlier this year.
Gold down Rs 27,000 from January peak
Gold prices have fluctuated sharply during 2026. According to IBJA data, 10 grams of gold was priced at Rs 1.33 lakh on December 31, 2025, before climbing to an all-time high of Rs 1.76 lakh on January 29.
At its current level of Rs 1.49 lakh, gold is Rs 27,000 cheaper than its January peak. Despite the correction, the precious metal remains about Rs 16,000 higher than its level at the end of last year.
Market analysts attribute gold’s volatility to changing expectations around global interest rates, geopolitical developments and investor demand for safe-haven assets.
Silver sheds Rs 1.42 lakh from record high
Silver has witnessed even sharper price swings in 2026. The metal was trading at Rs 2.30 lakh per kilogram on December 31, 2025, before surging to a record Rs 3.86 lakh per kilogram on January 29.
Since then, silver prices have fallen by Rs 1.42 lakh per kilogram over a period of around 140 days. The current price of Rs 2.44 lakh remains marginally higher than year-end levels but significantly below the historic peak reached earlier this year.
Industry experts say silver prices are influenced not only by investment demand but also by industrial consumption in sectors such as electronics, solar energy and electric vehicle manufacturing.
Why the decline matters
The movement in gold and silver prices is closely watched by households, jewellers and investors across Bihar, particularly during wedding seasons and festive periods when demand for precious metals tends to rise.
Lower prices may encourage purchases among consumers who had postponed buying jewellery during the rally earlier this year. However, market participants caution that volatility remains high and prices could continue to fluctuate in response to global developments.
Tips for buying gold
Consumer experts recommend purchasing only BIS-hallmarked gold jewellery. The Bureau of Indian Standards hallmark includes an alphanumeric code that certifies the purity of the gold and helps buyers verify authenticity.
Buyers should also compare the day’s gold rates through reliable sources, including IBJA data, before making a purchase. Rates differ according to purity levels such as 24-carat, 22-carat and 18-carat gold.
How to identify genuine silver
Jewellers suggest several basic checks that may help consumers identify genuine silver products.
A magnet test can indicate authenticity because real silver does not stick to magnets. An ice cube placed on silver typically melts faster because of the metal’s high thermal conductivity.
Consumers can also check for unusual odours, as genuine silver is generally odorless, while imitation products may emit a copper-like smell. Another commonly used method involves rubbing the item with a white cloth; a dark mark may indicate the presence of silver.
What happens next
Investors and traders will continue to monitor global economic indicators, central bank decisions and industrial demand trends for signals on the future direction of precious metal prices.
While the recent correction has eased prices from their record highs, analysts expect gold and silver to remain sensitive to international market developments in the coming months.
