Weekly Price Performance: A Snapshot

The price of gold saw a dip of ₹1,216 per 10 grams over the course of the week. As of today, 24-carat gold is trading at ₹1,50,263 per 10 grams, down from ₹1,51,479 recorded on April 25.

Silver has faced even more volatility, continuing its “crash” from previous highs. The white metal dropped from ₹2,43,720 per kg to ₹2,40,331 per kg, marking a sharp decline of ₹3,389 in just one week.

Massive Correction from All-Time Highs

When compared to the record-breaking peaks seen earlier this year, the current rates offer a substantial discount:

• Gold: On January 29, 2026, gold hit a historic high of ₹1.76 lakh. At current rates, it is now approximately ₹26,000 cheaper than its peak.
• Silver: The correction in silver has been more drastic. After touching ₹3.86 lakh per kg in January, silver has plummeted by nearly ₹1.46 lakh within 91 days.

Market analysts attribute this cooling period to a strengthening US Dollar and a temporary de-escalation in Middle Eastern tensions, which has reduced the demand for “safe-haven” assets.

Expert Tips: Things to Check Before Buying Jewelry

To ensure you get the best value for your money, follow these industry standards:

1. Demand BIS Hallmarking: Always look for the Bureau of Indian Standards (BIS) hallmark. Verify the alphanumeric HUID code (e.g., AZ4524) laser-etched on the jewelry. This guarantees the purity and caratage of the gold.

2. Cross-Verify Daily Rates: Gold prices vary based on purity (24K, 22K, or 18K). Always cross-check the day’s spot price on official sources like the India Bullion and Jewellers Association (IBJA) website before finalizing a purchase.

How to Identify Authentic Silver: 4 Simple Tests

• Magnet Test: Silver is non-magnetic. If your silver jewelry or coin sticks to a magnet, it is likely a fake or heavily alloyed.
• Ice Test: Silver has the highest thermal conductivity of any metal. If you place an ice cube on a real silver bar or coin, the ice will melt remarkably fast as if placed on a hot surface.
• Cloth Test: Rub the silver item with a clean white cloth. Authentic silver oxidizes when exposed to air, so it should leave a slight black mark on the cloth.
• Smell Test: Pure silver is odorless. If you detect a distinct metallic or “copper-like” smell, the item probably contains high levels of base metals.

Disclaimer: This report is for informational purposes only and should not be considered financial advice. Precious metal prices are subject to market risks. Please consult with a financial advisor or an authorized jeweler before making significant investments.

The post Gold and Silver Prices Tumble This Week: Gold Drops to ₹1.50 Lakh, Silver Slumps by ₹3,389; Is This the Right Time to Buy? appeared first on Mission Ki Awaaz.