India has experienced a slight cooling off in its bullion market prices just a day before the Akshaya Tritiaya and this has given the buyers a short time of relief. Although this is a low point, both gold and silver are trading near their recent highs, which indicates good underlying demand and uncertainty in the world market.
Domestic gold prices fell a little on April 18, 2026, following a sharp increase in the week before. Silver, which had shot up in recent sessions also experienced some correction. This is seen as a pause rather than a turnaround by the players in the market, and the festive demand and signals in the world market still favor bullion.
The price of gold weakens, yet the mood is positive
The 24 carat gold market price in the whole of India is approximately 154,200 per 10 grams and the price of 22 carat gold is approximately 141,350. In the meantime, 18-carat gold is being traded at around ₹1,15,650 per 10 grams. The fall of approximately 1,300-1,400 off recent highs has alleviated some worry among the buyers intending to buy goods in lieu of weddings and Akshaya Tritiya.
The following is a brief overview of purity-wise gold prices:
| Purity | Price (per 10g) |
|---|---|
| 24 Carat | ₹1,54,200 |
| 22 Carat | ₹1,41,350 |
| 18 Carat | ₹1,15,650 |
Prices are mostly similar with minor differences, city-wise:
| City | 24K (10g) | 22K (10g) | 18K (10g) |
|---|---|---|---|
| Delhi | ₹1,54,350 | ₹1,41,500 | ₹1,15,800 |
| Mumbai | ₹1,54,200 | ₹1,41,350 | ₹1,15,650 |
| Chennai | ₹1,55,020 | ₹1,42,100 | ₹1,18,600 |
| Kolkata | ₹1,54,200 | ₹1,41,350 | ₹1,15,650 |
| Lucknow | ₹1,54,350 | ₹1,41,500 | ₹1,15,800 |
The city to city price disparity is typically attributed to logistics, local demand and dealer markups.
Silver appears to be improving following recent surge
Silver prices which had shot up sharply earlier this week have calmed down. The prevailing price of 999 purity silver is at 2,65,000/kg, which is a decrease of approximately 5,000.
The following are the current silver rates:
| Category | Price |
|---|---|
| Per gram | ₹265 |
| Per 10 grams | ₹2,650 |
| Per kg | ₹2,65,000 |
Silver prices in cities have a regional imbalance:
| City | Silver (1kg) |
|---|---|
| Delhi | ₹2,65,000 |
| Mumbai | ₹2,65,000 |
| Kolkata | ₹2,65,000 |
| Chennai | ₹2,75,000 |
| Hyderabad | ₹2,75,000 |
Southern markets also fetch a higher price, typically 10,000 per kg more because of a higher cultural demand and use by industries.
The reason behind the fluctuation of prices
The recent fluctuations in the gold and silver are being precipitated by a combination of international and internal factors. The investor sentiment is still affected by geopolitical developments, particularly tensions and the continuous peace talks in West Asia.
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Simultaneously, a comparatively weak US dollar has been beneficial to the gold prices in the world market, and declining crude oil prices have allayed inflation fears. The overall trend also remains positive due to the central bank buying and long-term investment demand.
Silver, besides being a precious metal, is very much subject to industrial demand. Its application in electronics and solar energy is still of great support, even in the cases of short-term corrections.
Holiday demand that is likely to prop prices
Taking place on one of the most auspicious days, arguably, to purchase gold in India, Akshaya Tritiya is likely to continue to demand high prices despite them. The jewellers in the country are already reporting on the advance bookings especially on coins, bars and lightweight jewellery.
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Buyers are advised to add 3% GST and making charges to the quoted prices which may vary between 5-35 percent on gold jewellery and 5-25 percent on silver products.
Although the current downturn can prompt buyers to make purchases, analysts warn that the prices are still high. As an investor, alternatives to the physical purchase of gold remain to be gold ETFs and Sovereign Gold Bonds.
As the world anxieties have not ended yet and the demand of gold and silver are at the highest during the festive season, it is most probably likely that they will still be in the limelight in the next few days, despite the short-term fluctuations.
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