Gold Silver Price Today: Gold and silver prices have witnessed a significant decline over the past week. Gold prices have fallen by ₹2,106, while silver prices have dropped by ₹11,250 during the same period.
The bullion market has been under pressure for the past few weeks, resulting in a steady decline in precious metal prices. According to the latest report from the Indian Bullion and Jewellers Association (IBJA), the price of 24-carat gold stood at ₹154,190 per 10 grams on Friday, June 5, 2026.
Gold Silver Price Today
The latest gold rates were as follows:
- 24-Carat Gold: ₹154,190 per 10 grams
- 23-Carat Gold: ₹153,573 per 10 grams
- 22-Carat Gold: ₹141,238 per 10 grams
- 18-Carat Gold: ₹115,643 per 10 grams
- 14-Carat Gold: ₹90,201 per 10 grams
For comparison, the price of gold was ₹156,296 per 10 grams on June 2, indicating a decline of ₹2,106 within a few days.
Silver Prices Also Decline
Silver prices have also experienced a sharp correction. On Friday, silver was trading at ₹254,950 per kilogram. The Indian Bullion and Jewellers Association announces gold and silver prices twice daily from Monday to Friday, while no rates are issued on Saturdays and Sundays.
Import Duty Increased on Gold and Silver
The central government has increased the import duty on gold and silver. Earlier, the import duty stood at 6 percent, but it has now been raised to 15 percent. This represents an increase of 9 percentage points, making the import of precious metals significantly more expensive.
PM Modi Urges Citizens to Limit Gold Purchases
Prime Minister Narendra Modi has urged citizens to avoid purchasing gold for the next year, citing current global economic conditions. Rising crude oil prices have already increased import costs for countries like India that rely heavily on imports. Governments around the world are taking measures to safeguard their foreign exchange reserves, and India, being a major importer of gold, is also focusing on reducing unnecessary imports.
Demand Falls After Wedding Season
With the wedding season now over, demand in the bullion market has weakened. The number of buyers visiting jewelry stores has declined, and current economic uncertainties have further discouraged consumers from purchasing gold.
Disclaimer: This article is for informational purposes only and should not be considered investment advice. Gold and silver prices are influenced by multiple market factors. Investors are advised to consult financial experts before making any investment decisions.