Gold and Silver Prices Rise on October 26: Buy Now or Wait for a Dip?

Silver prices also increased during the day. The price of one kilogram of silver rose by Rs 64 to reach Rs 1.94 lakh.

With gold and silver prices continuing to fluctuate, investors and buyers are considering whether to purchase the precious metals now or wait for a better opportunity.

Commodity expert Ajay Kedia recommends buying gold and silver in instalments rather than investing the entire amount at once. According to him, buyers can make an initial purchase and then invest additional amounts at intervals of 15–20 days. He advises investors to adopt a longer investment horizon of six months to one year instead of focusing on returns over just one or two months.

For gold purchases, buyers should ensure that they purchase only certified gold bearing the Bureau of Indian Standards (BIS) hallmark. The hallmark identification number may be alphanumeric, such as AZ4524. Hallmarking helps establish the purity of gold and indicates its carat value.

Buyers should also cross-check the gold's weight and prevailing price on the day of purchase using multiple sources, including the India Bullion and Jewellers Association website. Gold prices vary according to purity, with different rates applicable to 24-carat, 22-carat and 18-carat gold.

Consumers purchasing silver can also use several basic checks to assess its authenticity. In the magnet test, genuine silver does not stick to a magnet. If the metal sticks, it may be fake. In the ice test, ice placed on genuine silver melts rapidly.

The smell test is another method mentioned for checking silver. Genuine silver has no smell, while fake silver may produce a copper-like odour. Buyers can also rub silver with a white cloth. If a black mark appears on the cloth, it is considered an indication of genuine silver.

With gold priced at Rs 1.41 lakh per 10 grams and silver at Rs 1.94 lakh per kilogram on October 26, buyers are advised to consider staggered purchases, verify prices before transactions and check the authenticity of precious metals before making an investment.