Gold-Silver Price Today: Silver Surges ₹9,260 to ₹2.38 Lakh, Gold Hits ₹1.57 Lakh; ₹1.70 Lakh in Sight

Gold and silver prices surged on August 20, with both precious metals witnessing a sharp rise in domestic markets. According to the India Bullion and Jewellers Association (IBJA), the price of 1 kilogram of silver increased by ₹9,260 to ₹2.38 lakh, while 10 grams of 24-carat gold rose by ₹3,519 to ₹1.57 lakh.

Gold and Silver Prices Surge in August

Precious metal prices have gained significantly during the first 20 days of August. Gold has become around ₹15,000 more expensive during this period, while silver has risen by approximately ₹20,000.

Gold has gained about ₹24,000 so far this year. On December 31, 2025, 10 grams of gold was priced at around ₹1.33 lakh, compared with ₹1.57 lakh currently. Silver has also moved higher from ₹2.30 lakh per kg at the end of 2025 to ₹2.38 lakh.

During this period, gold touched an all-time high of ₹1.76 lakh per 10 grams, while silver reached ₹3.86 lakh per kg on January 29.

Gold Price May Reach ₹1.70 Lakh by December

According to Anindya Banerjee, Senior Vice President and Head of Commodity Research at Kotak Securities, gold continues to receive support from retail investors as well as global central-bank purchases, including buying by the Reserve Bank of India.

Based on current market expectations, gold could potentially reach ₹1.70 lakh per 10 grams by December. Silver could also gain momentum and potentially move towards ₹3 lakh per kg if market conditions remain supportive.

These projections are estimates and actual prices may vary depending on global economic conditions, interest rates, currency movements, central-bank buying and geopolitical developments.

What Should You Check Before Buying Gold?

Buy BIS-Hallmarked Gold

Always check that the jewellery or gold you purchase carries the required BIS hallmark. The hallmark provides information about the purity of the gold.

Check the Latest Gold Rate

Before making a purchase, compare the day's gold rate from reliable sources and confirm the weight and purity of the jewellery. Gold prices differ for 24-carat, 22-carat and 18-carat gold.

Compare and Negotiate Making Charges

Making charges can vary from one jeweller to another and are generally separate from the gold value. Buyers should ask for a clear breakdown of making charges and compare offers before completing a purchase.

Gold and Silver Outlook

The sharp rise in gold and silver prices highlights continued investor interest in precious metals. While analysts see further upside potential, precious-metal prices can remain volatile. Investors and jewellery buyers should therefore consider current market rates and their individual requirements before making decisions.