New Delhi: Gold and silver prices witnessed a notable decline on Tuesday, continuing the downward trend seen in recent weeks after touching record highs earlier this year.
According to the India Bullion and Jewellers Association (IBJA), the price of silver fell by Rs 4,750 per kilogram to settle at Rs 2.66 lakh.
Meanwhile, the price of 10 grams of 24-carat gold declined by Rs 1,135, bringing the rate down to Rs 1.58 lakh.
Gold Falls Rs 18,000 From Peak Level
Gold prices had surged sharply at the beginning of 2026 before retreating amid global market shifts and profit-booking by investors.
According to market data:
- Gold stood at Rs 1.33 lakh on December 31, 2025
- It touched an all-time high of Rs 1.76 lakh on January 29, 2026
- Prices have now declined by around Rs 18,000 from the peak
Analysts said the correction followed a period of rapid gains during the opening weeks of the year.
Silver Witnesses Sharper Volatility
Silver prices have shown even greater volatility compared with gold.
According to IBJA figures:
- Silver was priced at Rs 2.30 lakh on December 31, 2025
- It surged to a record Rs 3.86 lakh on January 29, 2026
- Over the past 117 days, prices have fallen by around Rs 1.20 lakh
The sharp correction has made silver one of the most volatile bullion assets in recent months.
Why Prices Are Falling Despite Global Tensions
Traditionally, gold and silver prices tend to rise during periods of geopolitical conflict and uncertainty.
However, analysts said the current situation had evolved differently because investors were prioritising liquidity and cash preservation.
According to market observers:
- Investors are selling bullion holdings to maintain cash reserves amid uncertainty linked to tensions in the Middle East
- Many large investors began booking profits after prices hit historic highs in January
- Increased selling pressure has boosted market supply, contributing to the fall in prices
Experts said the combination of global uncertainty and aggressive profit-booking had triggered the current decline in bullion markets.
Market Watching Global Developments
Bullion traders said future price movement would depend largely on:
- Geopolitical developments
- International commodity markets
- Investor sentiment
- Currency fluctuations
Despite the recent correction, gold and silver prices remain significantly higher than their levels recorded at the end of last year.
