Patna: Gold and silver prices in India have recorded a sharp decline in recent weeks, even as geopolitical tensions involving the United States, Israel and Iran continue to shape global markets.
According to data from the India Bullion and Jewellers Association (IBJA), the price of 10 grams of 24-carat gold has fallen by Rs 12,077 to Rs 1.35 lakh, down from Rs 1.47 lakh. Silver has also seen a steep drop, with prices falling by Rs 30,864 to Rs 2.01 lakh per kilogram from Rs 2.32 lakh.
Over a longer period, the decline has been more pronounced. In the past 24 days alone, gold prices have dropped by Rs 23,956, while silver has fallen by Rs 65,200.
The correction comes after a strong rally earlier this year. Gold, which was priced at Rs 1.33 lakh on December 31, 2025, surged to an all-time high of Rs 1.76 lakh on January 29, 2026. It has since declined by around Rs 41,000 from that peak.
Silver has been even more volatile. Starting at Rs 2.30 lakh at the end of 2025, it rose sharply to a record Rs 3.86 lakh in late January before plunging to its current level of Rs 2.01 lakh. This marks a drop of approximately Rs 1.84 lakh over the past 53 days.
Market analysts attribute the decline to profit-booking after the recent rally, along with shifting global cues that have tempered the safe-haven appeal of precious metals despite ongoing geopolitical uncertainty.
While gold is traditionally seen as a hedge during periods of conflict, recent trends suggest that broader market dynamics, including investor sentiment and liquidity factors, are playing a decisive role in price movements.
