Patna : Gold and silver prices continued to decline in India on Friday, with silver falling below Rs 2 lakh per kilogram after around 10 months. According to the India Bullion and Jewellers Association (IBJA), the prices of both precious metals have fallen for four consecutive days.
Silver declined by Rs 4,750 per kg to Rs 1.95 lakh, compared with Rs 2 lakh on Thursday. Meanwhile, 24-carat gold fell by Rs 1,246 per 10 grams to Rs 1.41 lakh.
Over the four-day period, gold prices dropped by Rs 4,978, while silver became cheaper by Rs 15,891. On October 16, gold was priced at approximately Rs 1.46 lakh per 10 grams and silver at Rs 2.10 lakh per kg.
Silver had first crossed the Rs 2 lakh mark on December 17, 2025, making its latest fall below that level a notable change in the market.
Gold And Silver Prices Fall From January Peaks
Gold and silver prices have experienced significant fluctuations in 2026. According to the report, silver was priced at Rs 2.30 lakh per kg on December 31, 2025, before climbing to an all-time high of Rs 3.86 lakh on January 29.
Since that peak, silver prices have fallen by approximately Rs 1.85 lakh per kg.
Gold prices also rose sharply during the period. From Rs 1.33 lakh per 10 grams on December 31, 2025, the price reached a reported peak of Rs 1.76 lakh on January 29. Since then, it has declined by around Rs 35,000 per 10 grams.
Why Gold Prices Differ Across Cities
Gold prices may vary from one city to another because of differences in transportation costs, local demand and supply, and jewellery dealers’ existing stock.
Transportation and security costs can affect prices when gold is moved between cities. Regional buying patterns and the volume of purchases can also influence the rates offered by jewellers.
Local market conditions, including demand and supply, may further contribute to differences in prices. The purchase price of a jeweller’s existing inventory can also affect the rate offered to customers.
