Gold prices witnessed a marginal decline on July 15, while silver edged higher in the domestic bullion market. According to the India Bullion and Jewellers Association (IBJA), the price of 10 grams of 24-carat gold fell by ₹112 to around ₹1.42 lakh, whereas silver gained ₹416 to trade at ₹2.20 lakh per kilogram.
The latest movement comes after weeks of volatility in precious metals, driven by global economic developments, a stronger US dollar, and profit booking by investors.
Gold Still Up ₹9,000 in 2026 Despite Recent Correction
Despite the latest decline, gold has delivered positive returns this year.
Gold price on December 31, 2025: Around ₹1.33 lakh per 10 grams
Gold price on July 15, 2026: Around ₹1.42 lakh per 10 grams
Overall gain in 2026: Approximately ₹9,000
Silver, however, has underperformed during the same period.
Silver price on December 31, 2025: ₹2.30 lakh per kg
Silver price on July 15, 2026: ₹2.20 lakh per kg
Overall decline: Around ₹10,000 per kg
Earlier this year, both precious metals touched record highs, with gold reaching ₹1.76 lakh per 10 grams and silver hitting ₹3.86 lakh per kilogram on January 29.
Why Are Gold and Silver Prices Falling?
Several global factors have weighed on bullion prices.
1. Stronger US Dollar
The US Dollar Index has strengthened following signals from the US Federal Reserve regarding interest rates. Since gold is priced globally in dollars, a stronger dollar generally puts pressure on gold and silver prices.
2. Profit Booking by Investors
After touching record highs earlier this year, many institutional investors and traders booked profits, resulting in a correction in both gold and silver prices.
Should You Invest Now?
Commodity market expert Ajay Kedia believes the recent correction offers investors an opportunity, but recommends avoiding lump-sum investments.
Instead, investors may consider investing gradually through staggered purchases or systematic investment strategies.
According to Kedia's outlook:
Gold could reach ₹1.60 lakh per 10 grams by year-end.
Silver could climb to ₹2.80 lakh per kilogram.
Things to Remember Before Buying Gold
Buy BIS Hallmarked Gold
Always purchase jewellery carrying the Bureau of Indian Standards (BIS) hallmark. The hallmark confirms the purity of the gold and includes a unique alphanumeric identification code.
Verify Daily Gold Prices
Before making a purchase, compare the jeweller's quoted price with the latest rates published by trusted sources such as the India Bullion and Jewellers Association (IBJA). Gold prices vary depending on purity, including 24K, 22K, and 18K.
How to Identify Genuine Silver
If you're purchasing silver, these simple checks can help verify authenticity:
Magnet Test: Pure silver does not stick to a magnet.
Ice Test: Ice melts unusually fast on genuine silver because of its high thermal conductivity.
Smell Test: Authentic silver is odorless; fake silver may emit a metallic or copper-like smell.
Cloth Test: Rubbing genuine silver with a white cloth often leaves a black mark due to natural oxidation.
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