New Delhi/Patna: Gold and silver prices registered gains on Monday, reversing part of the recent decline in the bullion market.
According to data released by the India Bullion and Jewellers Association (IBJA), the price of silver rose by Rs 5,826 per kilogram to reach Rs 2.37 lakh. The metal had closed at Rs 2.32 lakh per kilogram in the previous trading session.
Gold also recorded a significant increase. The price of 24-carat gold climbed by Rs 1,694 to Rs 1.46 lakh per 10 grams, up from Rs 1.44 lakh a day earlier.
Prices Remain Below Record Highs
Despite the latest rise, both precious metals remain substantially below the record levels witnessed earlier this year.
Gold, which was priced at Rs 1.33 lakh per 10 grams on 31 December 2025, surged to an all-time high of Rs 1.76 lakh on 29 January. Since then, the yellow metal has declined by nearly Rs 30,000 from its peak.
Silver followed a similar trajectory. The metal was trading at Rs 2.30 lakh per kilogram at the end of 2025 before soaring to a record Rs 3.86 lakh per kilogram on 29 January.
Current prices indicate that silver has fallen by approximately Rs 1.49 lakh from that historic high.
Volatility Continues In Bullion Market
Bullion prices have remained volatile throughout 2026, influenced by changing global economic conditions, movements in the US dollar, central bank policies and investor sentiment toward safe-haven assets.
Market analysts note that gold and silver continue to attract investor interest amid uncertainty in global financial markets, although periodic profit-booking and shifts in risk appetite have triggered sharp corrections.
Buyers Advised To Check Hallmark Certification
Industry experts advise consumers to purchase only BIS-certified gold carrying a hallmark issued by the Bureau of Indian Standards (BIS).
The hallmark contains an alphanumeric identification code that certifies the purity of the gold and helps buyers verify authenticity.
Consumers are also advised to compare prevailing market rates from multiple sources, including the IBJA, before making purchases. Prices vary depending on purity levels such as 24-carat, 22-carat and 18-carat gold.
How To Identify Genuine Silver
Experts recommend several simple methods for identifying genuine silver:
- Magnet Test: Pure silver does not adhere to a magnet. If an item sticks strongly, it may not be genuine silver.
- Ice Test: Silver is an excellent conductor of heat, causing ice placed on its surface to melt rapidly.
- Smell Test: Genuine silver is generally odourless, whereas counterfeit products may emit a metallic or copper-like smell.
- Cloth Test: Rubbing silver with a soft white cloth may leave a dark mark due to oxidation, which is often considered an indicator of authenticity.
Market participants will continue to monitor global economic developments and investor sentiment for clues on the next direction of bullion prices.
