National/Alive News: Gold and silver prices continued their downward trend ahead of Diwali, providing some relief to buyers. According to the India Bullion and Jewellers Association (IBJA), the price of 10 grams of 24-carat gold declined by ₹2,282 on Monday to ₹1.38 lakh. Silver prices also fell by ₹1,264 per kg to ₹1.80 lakh.
On the last trading day of the previous week, gold was priced at ₹1.40 lakh per 10 grams, while silver stood at ₹1.81 lakh per kg.
Both precious metals recorded significant losses in October. Gold became cheaper by ₹8,084 per 10 grams, while silver prices declined by ₹39,485 per kg. On October 1, gold was priced at ₹1.48 lakh and silver at ₹2.20 lakh.
Market experts attribute the decline to a stronger US dollar, rising bond yields and profit-booking by large investors following a sharp rally. High prices have also affected retail demand, with some buyers postponing purchases.
Silver has faced additional pressure due to concerns over industrial demand, particularly from the solar and electronics sectors, as well as heavy selling in commodity markets.
According to commodity expert Ajay Kedia, investors should consider purchasing gold and silver in instalments rather than investing the entire amount at once. He suggested maintaining an investment horizon of six months to one year.
Meanwhile, silver has declined by nearly ₹2.06 lakh from its record high of ₹3.86 lakh per kg recorded on January 29, 2026. Gold has also fallen around ₹38,000 from its peak of ₹1.76 lakh per 10 grams recorded on the same date.
Buyers should check BIS hallmark certification, verify gold purity and compare prevailing rates before purchasing jewellery.
