In a significant market shift, silver prices in India nosedived by over ₹9,400 per kilogram on Friday, while gold recorded a modest dip. The India Bullion and Jewellers Association reported 24-karat gold at ₹1,52,078 for 10 grams after shedding ₹424 from ₹1,52,502. Similarly, 22-karat variant is now ₹1,39,303 per 10 grams (down from ₹1,39,692), and 18-karat at ₹1,14,059 (from ₹1,14,377).
Silver bore the brunt, declining to ₹2,44,929 per kg from ₹2,54,339—a whopping ₹9,410 drop. These spot prices are benchmarked twice daily by IBJA.
Futures markets painted a varied picture: gold’s April 2026 contract gained 0.83% to ₹1,53,337, but silver’s March 2026 contract slipped 1.84% to ₹2,39,339. Internationally, Comex gold edged up 0.39% to $4,908/oz, while silver tumbled 3.61% to $73.90/oz.
Market analysts highlighted intraday swings in gold, stabilizing near $4,900/oz. Upcoming US jobless claims and economic reports will likely dictate the precious metals’ trajectory.
This downturn in silver could stem from profit-taking after recent highs, coupled with a stronger dollar. Gold’s resilience suggests it as a safe-haven amid geopolitical tensions. Jewellers and investors might find this dip attractive for festive season stockpiling, but volatility warrants careful monitoring.