Gold, silver prices plunge: Yellow metal slides to ₹1.52 lakh/10 gm; silver down by over
Silver witnessed an even steeper correction, plunging by ₹3,414 to settle at ₹2.34 lakh per kilogram. Despite today's correction, both gold and silver have registered substantial gains overall in 2026. Gold's Rally: Gold has grown by ₹19,000 so far this year.
Insist on Certified Gold (HUID): Always purchase gold certified by the Bureau of Indian Standards (BIS). Look for the unique six-digit alphanumeric Hallmark Unique Identification (HUID) number (e.g., AZ4524) stamped on the jewelry.
This guarantees the purity and carat of the gold. Cross-Check Daily Rates: Gold prices vary significantly based on purity—24-carat (pure gold), 22-carat (standard jewelry gold), and 18-carat.
What Happened
Always cross-verify the day's official rates on trusted platforms like the IBJA website before finalizing your purchase. The Magnet Test: Pure silver is non-magnetic.
Silver witnessed an even steeper correction, plunging by ₹3,414 to settle at ₹2.34 lakh per kilogram.
Despite today's correction, both gold and silver have registered substantial gains overall in 2026.
Gold's Rally: Gold has grown by ₹19,000 so far this year.
Key Details
If your silver item is attracted to a strong magnet, it is likely mixed with base metals or is entirely fake. The Ice Test: Silver has the highest thermal conductivity of any metal.
On December 31, 2025, 10 grams of 24-carat gold was priced just above ₹1.33 lakh, compared to today's price of ₹1.52 lakh.
Silver's Steady Rise: Silver has seen a net increase of ₹4,000 this year, rising from ₹2.30 lakh per kg on December 31, 2025, to ₹2.34 lakh per kg today.
All-Time Highs: Earlier this year, on January 29, 2026, both metals hit historic peaks, with gold touching an all-time high of ₹1.76 lakh per 10 grams and silver peaking at ₹3.86 lakh per kg.
Why It Matters
Place an ice cube directly on the silver item; if it begins to melt extraordinarily fast (faster than at room temperature), the silver is genuine. The Smell Test: Pure silver is completely odorless.
If a black residue or mark appears on the cloth, it indicates that the silver is real and has oxidized naturally upon contact with air.
The Cloth Test: Gently rub the silver item with a clean white microfiber cloth.
What Reports Say
Coverage of the story so far points to:
Continued reporting by Bhaskar English as more details emerge
