Bangalore Gold Rate Today On Fire! Forget 24K, 22K, Even 18K Is Rs 500 From Shattering Rs 1 Lakh| 12 Dec Rates

Bangalore Gold Rate Today: Gold prices continued their back-to-back surge on Friday, December 12, pushing 24K, 22K and even 18K gold to record highs in Bangalore (aka Bengaluru) and several other Indian cities. The rally in gold was matched by a sharp spike in silver prices across major markets.

This massive upswing in precious metal rates comes in the aftermath of the US Federal Reserve's 25-basis-point rate cut announced on Thursday, triggering strong momentum in global bullion markets. Back in Bangalore, the sharp uptick in gold and silver rates today has come as a major setback for retail jewellery buyers amid the ongoing wedding season.

Bangalore Gold Rate Today

The price of 24 karat gold in Bangalore surged by Rs 191 per gram to Rs 13,266 per gram on Friday, December 12. Whereas, the rate of 22 karat gold in Bangalore jumped by Rs 175 per gram to Rs 12,160 per gram. Likewise, the price of 18 karat gold in Bangalore increased by Rs 143 per gram to Rs 9,949 per gram. Based on the December 12 rates, 10 grams of 24, 22 and 18 karat gold is priced at Rs 1.33 lakh, Rs 1.216 lakh, and 99,490 respectively.

Bangalore Silver Rate Today

The price of silver in Bangalore also jumped significantly on Friday. Silver rate in Bengaluru surged to Rs 204 per gram and to Rs 2,04,000 per kilogram. The massive jump in silver rate today is fuelled by the metal's safe-haven rally and its strong industrial demand.

The strong uptick in silver rate today is a reflection of refreshed interest of investors in the metal. The surge in demand reflects fresh bets from traders in anticipation of healthier trends from global manufacturing, according to Aksha Kamboj, Vice President, India Bullion & Jewellers Association (IBJA) and Executive Chairperson, Aspect Global Ventures.

"Some intraday volatility might set in, given the pace of this rise, though the bias remains firm. Further movement will likely be determined by how industrial metals perform globally and whether risk appetite continues to strengthen," noted Kamboj.

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