Patna: Gold prices declined on Wednesday, while silver moved higher, according to the India Bullion and Jewellers Association (IBJA).
The price of 10 grams of 24-carat gold fell by Rs 610 to Rs 1.61 lakh. Silver, meanwhile, rose by Rs 2,299 to Rs 2.44 lakh per kg.
Gold up Rs 29,000 this year
Despite Wednesday’s decline, gold has gained around Rs 29,000 so far in 2026.
On December 31, 2025, 10 grams of gold was priced at Rs 1.33 lakh. It is currently trading at Rs 1.61 lakh.
Silver has also risen during the period, from Rs 2.30 lakh per kg on December 31, 2025, to Rs 2.44 lakh currently.
Both precious metals recorded their highest prices of the year so far on January 29. Gold touched Rs 1.76 lakh per 10 grams, while silver reached Rs 3.86 lakh per kg.
Central bank buying supports gold
A commodity research expert said gold continues to receive support from retail investors as well as global central banks, including the Reserve Bank of India (RBI), which has been consistently purchasing the precious metal.
According to current projections, gold could reach Rs 1.70 lakh per 10 grams by December. Silver could rise to Rs 3 lakh per kg if market conditions become more favourable.
What buyers should check
Consumers buying gold jewellery are advised to keep several factors in mind.
Check the BIS hallmark: Buyers should purchase certified gold carrying the Bureau of Indian Standards (BIS) hallmark. The hallmark includes an alphanumeric code, such as AZ4524, and indicates the purity or caratage of the gold.
Cross-check the price: Buyers should verify the weight and prevailing price on the day of purchase using multiple sources, including the India Bullion and Jewellers Association. Prices differ according to purity, including 24-carat, 22-carat and 18-carat gold.
Ask about making charges: Making charges are the fees levied by jewellers for converting gold into jewellery. They are not fixed and can often be negotiated. Buyers can ask for a clear breakdown of labour and other making costs, particularly when making a large purchase.
