Gold and silver prices moved higher on July 27, with both precious metals witnessing fresh gains in the domestic bullion market. According to the India Bullion and Jewellers Association (IBJA), 24-carat gold rose by ₹751 to ₹1.45 lakh per 10 grams, while silver gained ₹2,050 to reach ₹2.25 lakh per kilogram.
The latest rally comes after weeks of price volatility, with analysts maintaining a bullish outlook for precious metals despite recent corrections from record highs.
Gold Up ₹12,000 So Far This Year
Gold has delivered strong returns in 2026. On December 31, 2025, 24-carat gold was trading at around ₹1.33 lakh per 10 grams. With the latest increase, prices have climbed by nearly ₹12,000 this year.
Silver, however, remains below its year-end level. It has declined by around ₹5,000 per kilogram, slipping from ₹2.30 lakh to ₹2.25 lakh.
Earlier this year, 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.
Gold Could Touch ₹1.60 Lakh This Year
Commodity market expert Ajay Kedia believes the correction from all-time highs presents an opportunity for long-term investors. He advises investors to avoid lump-sum investments and instead adopt a staggered investment approach.
According to Kedia, gold could rebound to ₹1.60 lakh per 10 grams, while silver may climb to ₹2.80 lakh per kilogram before the end of the year if global market conditions remain supportive.
Things to Check Before Buying Gold
Before purchasing gold jewellery or coins, buyers should keep these points in mind:
Buy only BIS Hallmarked Gold: Ensure the jewellery carries a Bureau of Indian Standards (BIS) hallmark with a unique alphanumeric code that certifies purity.
Verify Daily Gold Rates: Compare the jeweller's quoted price with the latest IBJA gold rates, as prices differ based on 24K, 22K, and 18K purity.
How to Identify Genuine Silver
You can perform these simple checks to verify silver:
Magnet Test: Genuine silver does not stick to a magnet.
Ice Test: Ice melts quickly on real silver because of its high thermal conductivity.
Smell Test: Authentic silver has no odor, while fake silver may have a copper-like smell.
Cloth Test: Rubbing silver with a white cloth may leave a black mark due to natural oxidation, indicating genuine silver.
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