Gold Rate Fall: Gold and silver prices have witnessed continuous fluctuations. At times, gold rates surge on the Multi-Commodity Exchange (MCX), while at other times, a slight decline in gold and silver prices is noted on the India Bullion and Jewellers Association (IBJA) website. However, despite the decline in the prices of both metals, consumers are not deriving any significant benefits when purchasing jewellery.
In the Indian bullion market, gold and silver prices increased recently, specifically on April 16, 2026. However, by evening, a marginal decline was recorded in the prices of both gold and silver. According to the rates released on ibjarates.com on the morning of April 16, 2026, the price of 24-carat gold was recorded at ₹153,305 per 10 grams, which subsequently dropped to ₹153,106 by the evening. This indicates a mere ₹199 decline in gold rates. So, let us take a look at the latest gold rates.
Direct Link to Check Gold Rate
Gold Rates: April 16th
Gold and silver rates are released twice daily on the official website of the India Bullion and Jewellers Association (IBJA)—ibjarates.com. The morning rates are published around 12:00 PM, while the evening rates are released around 5:00 PM. However, gold and silver prices are published only from Monday through Friday. It is important to note that these rates do not include taxes, making charges, or GST.
JEE Main 2026 Session 2 Result Date Announced
999 Purity Gold
Morning Price: 153,305
Evening Price: 153,106
995 Purity Gold
Morning Price: 152,691
Evening Price: 152,493
916 Purity Gold
Morning Price: 140,427
Evening Price: 140,245
750 Purity Gold
Morning Price: 114,979
Evening Price: 114,830
585 Purity Gold
Morning Price: 89,683
Evening Price: 89,567
Silver (999 Purity)
Morning Price: 252,675
Evening Price: 251,292
Why is Gold Purchased on Akshaya Tritiya?
Akshaya Tritiya is considered an extremely auspicious day within Hindu traditions. It is believed that any auspicious act performed on this day yields lasting results. This is precisely why purchasing gold on this day is considered highly propitious. For centuries, Indian women have engaged in gold shopping on the occasion of Akshaya Tritiya. There is a prevailing belief that purchasing gold and silver leads to greater prosperity and wealth. This is the reason why the prices of gold and silver tend to rise significantly on Akshaya Tritiya.
