Today, on April 1, a rise in the prices of gold and silver was seen. According to the India Bullion and Jewelers Association (IBJA), the price of 10 grams of 24-carat gold rose by ₹2,836 to ₹1.50 lakh. Earlier, its price was ₹1.47 lakh per 10 grams. At the same time, the price of one kilogram of silver increased by ₹9,348 to ₹2.39 lakh. Earlier, its price was ₹2.30 lakh per kg.
4 reasons due to which gold prices vary in different cities
Transportation and security: Transporting gold from one city to another involves fuel and security costs; Therefore, as the distance increases, the prices also start increasing.
Volume of purchase: Due to high consumption in South India (about 40%), jewelers buy in bulk; However, the benefits of bulk discounts remain limited.
Local jewelry associations: State and city-level jewelry associations set prices based on local demand and supply.
Old stock and purchase price: Jewelers decide the selling price to customers based on the price at which they purchased their stock.
Gold price increased by ₹16,374 this year; Fall of ₹9,528 after Iran conflict
This year there has been continuous fluctuation in the prices of gold and silver. So far in 2026, gold has become costlier by ₹16,374 and silver by ₹9,063. During this period—specifically on January 29—gold prices touched an all-time high of ₹1.76 lakh, while silver prices peaked at ₹3.86 lakh. Since February 28, when the conflict between the US, Israel and Iran started, prices have been witnessing a continuous downward trend. Since then, gold prices have fallen by ₹9,528 and silver prices by ₹27,217.
Keep these 2 things in mind while buying gold from jewelers
1. Buy only certified gold: Always buy certified gold, which is hallmarked by the Bureau of Indian Standards (BIS). This number is alphanumeric—meaning it can appear in a format like AZ4524. Hallmarking indicates the purity of gold (its carat value).
2. Double-check the price: Check the exact weight of the gold and its prevailing market price on the day of purchase from multiple sources (such as the website of the India Bullion and Jewelers Association). Gold rates vary depending on purity level—typically for 24-karat, 22-karat, and 18-karat gold.
4 ways to identify real silver
Magnet Test: Real silver does not stick to a magnet. If it sticks, it’s fake.
Ice Test: Place a piece of ice on the silver. Ice melts very quickly on real silver.
Smell Test: Real silver has no smell. Fake silver often has a metallic odor, similar to copper.
Cloth Test: Rub the silver on a white cloth. If a black line is formed on it, then it is real.
The total value of gold held by Indian households has exceeded $5 trillion (₹450 lakh crore). This figure is more than the total GDP of the country, which is $4.1 trillion (₹370 lakh crore). The reason for this jump in price is the gold prices reaching record high. According to a report by Morgan Stanley, Indian households together own about 34,600 tonnes of gold. At present, the market price of gold is hovering around ₹ 1.38 lakh per 10 grams. At the same time, in the international market, gold is being sold for above $4,500 per ounce (about 28 grams). When it is converted into Indian Rupee, its price comes to around ₹1.30 lakh per 10 grams.