Gold and silver prices moved higher on July 21, extending the volatility seen in the precious metals market this year.
According to the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold increased by ₹883, taking the rate of 10 grams to ₹1.43 lakh. Silver also recorded a sharp gain, with the price of 1 kilogram rising by ₹3,629 to ₹2.23 lakh.
The latest rally reflects continued investor interest in precious metals amid global economic uncertainty and expectations of further price movements.
Gold Has Become ₹10,000 Costlier in 2026
Gold has delivered positive returns for investors so far this year.
On December 31, 2025, the price of 10 grams of gold was around ₹1.33 lakh. It has now climbed to ₹1.43 lakh, representing an increase of nearly ₹10,000 in 2026.
Silver, however, has followed a different trajectory.
It was trading at ₹2.30 lakh per kilogram at the end of 2025 and is currently around ₹2.23 lakh, despite today's strong rebound.
Gold and Silver Reached Record Highs Earlier This Year
Both precious metals touched historic highs during 2026 before witnessing profit booking.
Record Levels
Gold All-Time High: ₹1.76 lakh per 10 grams
Silver All-Time High: ₹3.86 lakh per kilogram
Date: January 29, 2026
Prices have since corrected, creating renewed interest among long-term investors.
Expert View: Gold May Reach ₹1.60 Lakh Again
Commodity market expert Ajay Kedia believes the recent correction offers an opportunity for investors, but advises against investing all at once.
According to Kedia:
Gold could climb back to ₹1.60 lakh per 10 grams by the end of the year.
Silver could rise to around ₹2.80 lakh per kilogram if market conditions remain supportive.
He recommends accumulating investments gradually instead of making large lump-sum purchases.
Avoid Lump-Sum Investment in Gold and Silver
Experts suggest using a staggered investment strategy during periods of high volatility.
Why?
Reduces the impact of short-term price swings
Helps average the purchase cost
Lowers investment risk
Provides flexibility if prices decline further
A systematic approach may be more suitable than investing a large amount at one time.
Two Important Things to Check Before Buying Gold
1. Buy Only BIS Hallmarked Gold
Always purchase jewellery carrying the Bureau of Indian Standards (BIS) hallmark.
A genuine hallmark includes an alphanumeric identification code that certifies the purity of the gold.
2. Verify the Gold Rate
Before making a purchase:
Compare the day's gold rate from reliable sources such as the India Bullion and Jewellers Association (IBJA).
Check the purity (24K, 22K or 18K).
Confirm the weight and making charges separately.
This helps ensure transparent pricing.
Four Easy Ways to Identify Genuine Silver
If you are buying silver, these simple tests may help identify genuine metal:
Magnet Test
Pure silver is not magnetic. If the item strongly sticks to a magnet, it may not be genuine.
Ice Test
Silver has excellent thermal conductivity. Ice placed on genuine silver melts faster than on most other metals.
Smell Test
Real silver is generally odorless. A strong metallic or copper-like smell may indicate impurities or fake silver.
White Cloth Test
Rub the silver with a clean white cloth. A black residue can indicate oxidation, which is common in genuine silver.
Gold and Silver Price Highlights
24-Carat Gold: ₹1.43 lakh per 10 grams (▲ ₹883)
Silver: ₹2.23 lakh per kilogram (▲ ₹3,629)
Gold Gain in 2026: Around ₹10,000
Silver Change in 2026: Around ₹7,000 lower than year-end 2025 level
Gold Forecast: Up to ₹1.60 lakh (expert opinion)
Silver Forecast: Up to ₹2.80 lakh (expert opinion)
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