Precious metals traded mixed on November 3, with gold recording marginal gains while silver extended its decline. According to data released by the India Bullion and Jewellers Association (IBJA), the price of 24-karat gold rose by ₹52 to settle at ₹1.38 lakh per 10 grams. In contrast, silver dropped by ₹3,547, bringing the price down to ₹1.76 lakh per kilogram. October Price Trends Both metals underwent notable corrections throughout October: Gold: Decreased by ₹8,084 over the month, falling from ₹1.48 lakh per 10 grams recorded on October 1, 2026. Silver: Slumped by ₹39,485 per kilogram, down from ₹2.20 lakh at the start of October. Market analysts attribute this recent downward trend to a strengthening US Dollar in the global market alongside profit-booking by institutional investors at elevated price levels. Expert Advice for Buyers and Investors Commodity market expert Ajay Kedia advises adopting a staggered purchasing strategy rather than lump-sum allocations. Investors should consider spreading buys over 15 to 20-day intervals, maintaining an investment horizon of six months to one year rather than focusing on short-term horizons. Key Checkpoints When Purchasing Gold Insist on Certified Hallmarking: Only purchase Bureau of Indian Standards (BIS) hallmarked gold. The hallmarked piece carries an alphanumeric identifier (such as AZ4524) confirming purity and carat grade. Verify Daily Rates and Weight: Cross-reference the weight and current daily market rate across reliable references like the official IBJA portal. Note that pricing varies by purity (24K, 22K, and 18K). Four Simple Methods to Verify Real Silver Magnet Test: Genuine silver is non-magnetic. Strong attraction indicates base metal alloys. Ice Test: Silver has extremely high thermal conductivity; an ice cube placed directly on genuine silver melts significantly faster than on other metals. Odor Test: Authentic silver carries no distinct smell, whereas pieces with high copper content often emit a noticeable metallic odor. Cloth Test: Rubbing silver with a clean white cloth typically produces faint dark markings caused by light surface oxidation. Post navigation Reliance Jumps Nearly 12% on Blowout Earnings Beat, Adds Record $19 Billion
