Patna: Gold and silver prices witnessed a significant rise on August 20, with both precious metals becoming considerably more expensive. According to data from the India Bullion and Jewellers Association (IBJA), the price of one kilogram of silver increased by ₹9,260 to ₹2.38 lakh, while 10 grams of 24-carat gold rose by ₹3,519 to ₹1.57 lakh.
The rally has been particularly strong during August. In the first 20 days of the month, gold has become approximately ₹15,000 more expensive, while silver has risen by around ₹20,000.
Gold Has Become ₹24,000 Costlier This Year
Gold prices have recorded a substantial increase since the beginning of the year. On December 31, 2025, 10 grams of gold were priced at around ₹1.33 lakh, compared with approximately ₹1.57 lakh now—an increase of ₹24,000.
Silver, meanwhile, was priced at around ₹2.30 lakh per kg at the end of 2025 and has now reached ₹2.38 lakh.
Both metals have also recorded sharp highs during the year. Gold touched an all-time high of approximately ₹1.76 lakh per 10 grams on January 29, while silver reached around ₹3.86 lakh per kg on the same date.
Gold Could Reach ₹1.70 Lakh by December
Market experts expect gold prices to remain supported in the coming months. Anindya Banerjee, Senior Vice President and Head of Commodity Research at Kotak Securities, said gold continues to receive support from retail investors as well as central banks, including the Reserve Bank of India.
According to the outlook cited, gold could reach ₹1.70 lakh per 10 grams by December, while silver could potentially move towards ₹3 lakh per kg.
However, precious-metal prices remain sensitive to global economic conditions, interest rates, currency movements and investor demand, meaning actual prices may differ from projections.
What to Check Before Buying Gold
Consumers should keep a few important points in mind while purchasing gold jewellery.
Check the BIS hallmark: Buyers should look for a genuine BIS hallmark and verify the alphanumeric hallmarking details to confirm the purity of the jewellery.
Compare the day’s gold rate: The price should be checked against reliable bullion-rate sources before making a purchase. Rates differ according to purity, including 24-carat, 22-carat and 18-carat gold.
Understand making charges: Making charges can vary between jewellers and jewellery designs. Buyers should ask for a clear breakup of making and other applicable charges and compare prices before purchasing.
How to Check Silver Purity
Consumers can also use some basic checks when buying silver, although these are not substitutes for professional purity testing.
Genuine silver is generally non-magnetic, so a strong attraction to a magnet can indicate the presence of other metals. Other traditional checks include observing how quickly ice melts on the metal and checking for unusual odours.
A more reliable approach is to purchase hallmarked silver from a trusted jeweller and check the relevant purity markings and bill details.
With gold and silver prices continuing to fluctuate sharply, buyers should compare prevailing rates, verify purity and understand additional charges before making a purchase.
