Bullion Shock: Gold Falls, Silver Takes a Big Hit
Gold and silver prices witnessed a sharp decline on April 23, bringing slight relief to buyers after a steady rise earlier this year. According to the India Bullion and Jewellers Association, the price of 24-carat gold fell by Rs.927 to Rs.1.51 lakh per 10 grams, down from Rs.1.52 lakh recorded a day earlier.
Meanwhile, silver saw a significant drop of Rs.4,700, bringing its price down to Rs.2.43 lakh per kilogram from Rs.2.48 lakh. Despite this one-day correction, both precious metals have remained expensive overall in 2026, with gold rising by around Rs.18,000 from Rs.1.33 lakh at the end of 2025, and silver increasing by nearly Rs.13,000 from Rs.2.30 lakh per kg.
Notably, gold had touched a record high of Rs.1.76 lakh on January 29, while silver peaked at Rs.3.86 lakh, meaning prices have corrected significantly from their highs—gold by about Rs.25,000 and silver by a steep Rs.1.42 lakh. Market experts attribute this volatility to global economic uncertainty, fluctuating demand, and profit booking by investors.
Buyers are advised to purchase only BIS-hallmarked gold to ensure purity and to cross-check daily rates before making purchases. For silver, simple tests like magnet, ice, smell, and cloth checks can help verify authenticity, ensuring safer investment decisions in a fluctuating bullion market.
