Precious Metals Continue to Trade Near Record Levels Despite Daily Volatility
New Delhi (Economy India): Silver prices witnessed a sharp decline on June 17, while gold prices remained largely stable with a marginal gain, according to data released by the India Bullion and Jewellers Association (IBJA).
The latest movement highlights the continued volatility in precious metals markets, even as both gold and silver remain significantly higher compared to the beginning of the year.
Silver Prices Drop Over ₹2,300
According to IBJA data, the price of silver fell by ₹2,309 per kilogram, bringing the rate down to ₹2.49 lakh per kg.
📉 Previous Price: ₹2.51 lakh per kg
📉 Current Price: ₹2.49 lakh per kg
📉 Decline: ₹2,309 per kg
The correction comes after silver experienced substantial gains earlier this year.
Gold Edges Higher
Gold prices, meanwhile, registered a slight increase.
🏅 24-Carat Gold (10 grams): ₹1,50,000
📈 Increase: ₹17
📈 Previous Price: ₹1,49,983
Despite the modest daily gain, gold continues to trade near historically elevated levels.
Gold and Silver Up Nearly ₹19,000 This Year
Although precious metals have witnessed periodic corrections, both gold and silver have delivered strong gains in 2026.
Gold Performance in 2026
🏅 December 31, 2025: ₹1.33 lakh per 10 grams
🏅 June 17, 2026: ₹1.50 lakh per 10 grams
📈 Increase: Around ₹17,000
Silver Performance in 2026
🥈 December 31, 2025: ₹2.30 lakh per kg
🥈 June 17, 2026: ₹2.49 lakh per kg
📈 Increase: Around ₹19,000
The rise reflects continued investor interest in precious metals amid global economic uncertainty and inflation concerns.
Gold Prices by Purity
Gold rates vary depending on purity levels.
🏅 24 Carat Gold – Highest purity
🏅 22 Carat Gold – Commonly used in jewellery
🏅 18 Carat Gold – Popular for diamond and designer jewellery
Consumers should always verify the purity level before making a purchase.
Tips for Buying Gold
Experts advise buyers to keep two important factors in mind when purchasing gold:
1. Buy Hallmarked Gold Only
✅ Always purchase BIS-certified hallmarked gold.
✅ Check the hallmark identification number.
✅ Hallmark certification confirms the purity of the metal.
2. Verify Market Rates
✅ Compare prices from reliable sources before purchasing.
✅ Check daily rates published by industry bodies such as IBJA.
✅ Understand price differences between 24K, 22K, and 18K gold.
How to Identify Genuine Silver
Consumers can use a few simple methods to verify silver authenticity:
🧲 Magnet Test
Real silver is not magnetic. If it sticks strongly to a magnet, it may not be genuine.
🧊 Ice Test
Silver is an excellent conductor of heat. Ice placed on genuine silver melts more quickly.
👃 Smell Test
Pure silver generally has no noticeable odor. A metallic or copper-like smell may indicate impurities.
🧻 Cloth Test
Rubbing silver with a white cloth may leave a dark mark due to natural oxidation, which can indicate authenticity.
Precious Metals Remain a Preferred Safe-Haven Asset
Market analysts note that despite short-term fluctuations, gold and silver continue to attract investors seeking protection against inflation, currency volatility, and geopolitical uncertainty.
Demand for precious metals remains supported by both investment purchases and jewellery consumption across major markets, including India.
While silver witnessed a notable correction and gold remained nearly unchanged on June 17, both precious metals continue to post strong gains for the year. With global uncertainties, inflation concerns, and continued investor demand supporting prices, gold and silver remain key components of many investment portfolios. Consumers, meanwhile, are advised to verify purity certifications and compare market rates before making purchases.
(Economy India)
