Gold-Silver Weekly Update: Although gold and silver prices witnessed a surge last week, a kilogram of silver is still trading at a discount of ₹1.96 lakh from its all-time high, while 10 grams of 24-karat gold is available at a price ₹50,000 lower.
Add informalnewz.com as a Preferred Source
Gold and silver prices witnessed a surge last week; however, despite this uptick, both precious metals remain significantly cheaper than their all-time high levels. On the Multi Commodity Exchange (MCX), one kilogram of silver is still trading at a discount of over ₹1.96 lakh compared to its peak, while gold is also available at a price point more than ₹50,000 below its high. If you are planning to purchase gold or silver, or intend to invest in these metals, it is advisable to take a close look at the price fluctuations recorded over the past week.
Silver Shines, Yet Remains Cheaper Than Its Peak
Let us begin by examining the changes in silver prices. On April 2, the MCX Silver price was trading at ₹2,32,495 per kilogram. By Friday—the final trading day of the previous week—silver contracts with a May 5 expiry closed at ₹2,43,300. This implies that, over the course of the week, the price of 1 kg of silver rose by ₹10,805.
Silver prices have appreciated not only on the MCX but also in the domestic market. According to the rates updated on the website of the Indian Bullion Jewelers Association (IBJA.com), silver prices climbed from ₹2,27,813 to ₹2,39,934 per kilogram over the week—marking an increase of ₹12,121 per kilogram.
Although silver prices surged rapidly over the past week, despite this rally, the precious metal remains significantly cheaper—by ₹1,96,037 per kilogram—compared to its all-time high of ₹4,39,337 per kilogram.
Current Rates for 24-Carat Gold
Turning to the changes in gold prices, the cost of the yellow metal has also risen over the course of the week. On April 2nd, the futures price for gold with a June 5th expiry stood at ₹1,49,680 per 10 grams; by Friday, this figure had climbed to ₹1,52,690. Consequently, the price of 10 grams of 24-carat gold has increased by ₹3,010. In the domestic market, the price surged from ₹1,46,608 to ₹1,50,330 per 10 grams.
Much like silver, despite this recent surge in prices, the precious yellow metal remains considerably cheaper than its all-time high. A look at the MCX Gold Rate reveals that its lifetime high stands at ₹2,02,984 per 10 grams; comparing this with the latest rate of ₹1,52,690, the current gold price is lower by ₹50,294 per 10 grams.
Taking a look at the rates for various qualities of gold in the domestic market…
| Gold Quality | Gold Rate (without GST+Making Charge) |
| 24 Karat Gold | Rs 1,50,330/10 grams |
| 22 Karat Gold | Rs 1,46,720/10 grams |
| 20 Karat Gold | Rs 1,33,790/10 grams |
| 18 Karat Gold | Rs 1,21,770/10 grams |
| 14 Karat Gold | Rs 96,960/10 grams |
Know this before buying jewellery:
If you are planning to buy Gold-Silver jewellery, then along with the weekly rate change, it is important to know that the rates updated by IBJA are same across the country, but when you buy jewellery, you have to pay GST as well as making charges, which may be different in different states and cities and due to their addition the price increases.
