Gold-Silver Price Today: Gold Falls ₹2,409, Silver ₹3,967 Cheaper; Check 10 Gram Gold and 1 Kg Silver Rates

Gold and silver prices witnessed a sharp decline on Monday, September 7, giving some relief to buyers after the recent rally in precious metals.

According to the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold has fallen by ₹2,409 to around ₹1.52 lakh per 10 grams, while silver has declined by ₹3,967 to approximately ₹2.31 lakh per kilogram, based on the rates cited in the report.

Gold and silver rates can vary across cities and between bullion benchmarks and retail jewellery markets. IBJA's benchmark rates are quoted without 3% GST and making charges.

Gold and Silver Prices Fall Today

On the previous trading day, Friday, gold was around ₹1.55 lakh per 10 grams, while silver was around ₹2.35 lakh per kilogram, according to the figures cited in the report.

The decline comes amid weakness in international precious-metal prices. Reuters reported that gold fell on Monday after stronger US jobs data increased expectations of a possible Federal Reserve rate hike. Investors are also watching upcoming US inflation data for further clues about the Fed's interest-rate policy.

Why Does Gold Cost Differently Across Cities?

The price displayed by a jeweller may differ from the benchmark rate because of several factors:

1. Transportation and security costs:

Gold transported between cities involves logistics, insurance and security expenses, which can influence the final price.

2. Local demand and purchase volumes:

Demand and procurement patterns vary from region to region. Large purchases by jewellers can affect sourcing costs and margins.

3. Local market conditions:

Jewellery associations, bullion dealers and local supply-demand conditions can influence quoted rates.

4. Existing inventory costs:

The price at which a jeweller purchased existing inventory can also affect the selling price.

This is why consumers should not assume that the IBJA benchmark and the final jewellery-shop price will be identical.

Gold Is Still More Expensive Than at the End of 2025

Despite Monday's decline, gold remains substantially higher than its level at the end of 2025.

Gold was around ₹1.33 lakh per 10 grams on December 31, 2025, compared with around ₹1.52 lakh now, representing an increase of roughly ₹19,000 per 10 grams.

Silver has also remained highly volatile. It was around ₹2.30 lakh per kilogram at the end of 2025 and has moved significantly higher during 2026.

The precious metals have also recorded much higher levels during the year, highlighting the extent of the volatility.

3 Things to Check Before Buying Gold

1. Check BIS hallmarking:

When buying gold jewellery, look for proper BIS hallmarking and verify the relevant hallmark details. Hallmarking helps establish the purity of the gold.

2. Compare the day's gold rate:

Check the prevailing rate for the specific purity—such as 24K, 22K or 18K—before making a purchase. Also compare the jeweller's quoted rate with reliable benchmark rates.

3. Understand making charges:

Making charges can significantly increase the final jewellery bill. Ask the jeweller for a clear breakdown of the gold value, making charges and applicable taxes before completing the purchase.

Gold Price Today: What Should Buyers Watch?

The current fall does not necessarily indicate a lasting downtrend. International interest rates, the US dollar, inflation data, geopolitical developments and investor demand can continue to influence gold and silver prices.

For jewellery buyers, the most important point is to compare the purity, benchmark gold rate, making charges and GST rather than looking only at the headline price.