Today, on May 20, gold and silver prices fell. According to India Bullion and Jewelers Association (IBJA), the price of 1 kg silver fell by ₹3,761 to ₹2.65 lakh. At the same time, the price of 10 grams of 24-carat gold fell by ₹1,116 to ₹1.58 lakh. On January 29, gold and silver had touched their all-time highs of ₹1.76 lakh and ₹3.86 lakh, respectively.
Gold price journey: ₹1.76 lakh to ₹1.58 lakh
Gold prices had seen a rise earlier this year; However, in recent weeks, the market has declined due to profit-booking and global factors.
Starting Level (December 31, 2025):** ₹1.33 Lakh
All-time high (January 29, 2026): ₹1.76 lakh (huge jump in just one month)
Current situation: Gold is now cheaper by ₹18,000 from its peak.
Big fall in silver price: ₹3.86 lakh to ₹2.30 lakh
Silver has seen much greater fluctuations than gold. It has come down very rapidly from its all-time high.
**Starting Level (December 31, 2025):** ₹2.30 Lakh
**All-time high (January 29, 2026):** ₹3.86 lakh (historic surge)
**Fall Figures:** In the last 49 days, silver prices have fallen by ₹1.21 lakh.
Main reasons for decline: Reliance on ‘cash’ instead of metals
Typically, gold and silver prices rise in times of war or conflict; However, this time the situation is a little different:
Cash savings preferred: Due to the ongoing conflict in the Middle East, investors are hesitant to take additional risks. They are accumulating ‘cash’ by selling their gold and silver holdings so that they have liquid funds available during these times of uncertainty. Profit Booking: Gold prices hit record high in January; This caused large investors to begin selling their holdings at these higher prices, increasing supply in the market and resulting in falling prices.
Keep these 2 things in mind while buying gold from jewelers:
1. Buy only certified gold: Always buy certified gold with the Bureau of Indian Standards (BIS) hallmark. This hallmark number is alphanumeric – for example, it appears in the format AZ4524. Hallmarking works to verify the purity (carat) of gold.
2. Cross-check the price: On the day of purchasing gold, verify the correct weight of the gold and the market price of that day by cross-referencing multiple sources (such as the website of the India Bullion and Jewelers Association).
From May 19, the prices of petrol and diesel have been increased by an average of 90 paise per liter across the country. Earlier, on Friday, May 15, prices of both petrol and diesel were increased by ₹3 per litre. This is the second time in just five days that prices have increased. At present, petrol is being sold at a price of more than ₹ 100 per liter in 15 states and union territories of the country.