New Delhi: Gold and silver prices recorded a decline on May 18 after months of sharp fluctuations in the bullion market.
According to figures released by the India Bullion and Jewellers Association (IBJA), the price of silver fell by Rs 1,722 per kilogram, bringing the rate down to Rs 2.67 lakh per kg from the previous level of Rs 2.69 lakh.
Gold prices also eased during the day’s trading.
The IBJA said the price of 10 grams of 24-carat gold declined by Rs 389, settling at Rs 1.58 lakh.
Precious Metals Still Significantly Higher Than Start Of Year
Despite the latest dip, both gold and silver remain substantially more expensive compared with the beginning of 2026.
Market data shows:
- gold has risen by around Rs 24,000 per 10 grams this year
- silver has increased by approximately Rs 37,000 per kilogram
On December 31, 2025:
- 10 grams of gold was priced at Rs 1.33 lakh
- silver stood at Rs 2.30 lakh per kg
Since then, bullion prices have seen repeated volatility amid global market uncertainty and domestic policy changes.
Gold And Silver Earlier Touched Record Highs
The year has also witnessed historic peaks in bullion prices.
According to market figures:
- gold touched an all-time high of Rs 1.76 lakh per 10 grams on January 29
- silver surged to a record Rs 3.86 lakh per kilogram during the same period
Analysts have attributed the volatility to international economic uncertainty, demand trends and changes in import duties.
Centre Raises Import Duty On Gold And Silver
The Central Government has increased import duty on gold and silver from 6% to 15%.
The revised structure includes:
- 10% Basic Customs Duty
- 5% Agriculture Infrastructure and Development Cess (AIDC)
The move has contributed to higher domestic bullion prices in recent months.
Buyers Advised To Check Hallmarks And Verify Rates
Jewellers and market experts have advised consumers to exercise caution while purchasing precious metals.
They recommend:
- buying only BIS-certified hallmarked gold
- verifying the day’s gold rate from multiple reliable sources
- checking purity according to carat category, including 24-carat, 22-carat and 18-carat gold
The Bureau of Indian Standards (BIS) hallmark carries an alphanumeric identification code indicating the purity and certification status of the jewellery.
Experts also urged buyers to confirm both the weight and prevailing market price before completing purchases.
