A sharp downturn has hit the precious metals market in Rajasthan, causing substantial movement across trading counters. Fresh trading figures released by the Jaipur Sarafa Traders Committee reveal that silver prices plunged by nearly 4 percent within a single session. This steep slide has pushed silver down to its lowest price point recorded so far in the year 2026. The rate for 999 purity silver retreated to 1,84,800 rupees per kilogram, registering a direct decline of 7,200 rupees per kilogram compared to the trading levels marked on Friday.
Silver Drops by More Than Half from Peak Levels
The extent of this drop becomes even more striking when contrasted with the unprecedented highs recorded earlier in the year. Back in January 2026, silver staged a historic rally that took its spot price past 4,00,000 rupees per kilogram. Following consistent fluctuations and downward pressure, the metal is now changing hands at 1,84,800 rupees per kilogram. This indicates that silver has shed more than half of its total valuation compared to its peak reached in January. On a single-day basis, the 7,200 rupees markdown represents a drop of approximately 3.75 percent from Friday's closing levels.
Pure Gold Declines by 3,000 Rupees per 10 Grams
Gold trading tracked a similar downward pattern alongside the drop in silver. The price of 24-karat pure gold fell by 3,000 rupees per 10 grams compared to Friday, settling down at 1,42,000 rupees. The sudden drop in spot rates offers welcome relief to wedding shoppers and retail jewelry buyers who had been contending with persistent highs. Bullion traders, however, continue to closely monitor the trajectory of spot prices as market volatility remains elevated.
Jewelry Grade Gold Softens Amid Market Influences
The softening trend extended directly to jewelry grade gold as well. In Jaipur, 22-karat gold used in manufacturing ornaments eased to 1,31,400 rupees per 10 grams, confirming broad-based weakness across both gold and silver categories. Daily price adjustments in the bullion market stem from key underlying dynamics including international spot market shifts, movements in the US dollar index, and ongoing buying and selling decisions by institutional investors. Because spot bullion quotes change each morning, retail customers are advised to verify real-time metal rates alongside applicable making charges and goods and services tax with their jeweler before completing any purchase.
