Bangalore Gold Rate Today: No Relief For Gold Buyers! 24K Jumps Rs 15,800 In 2 Days; Check Prices On 4 August

Bangalore Gold Rate Today: The price of gold in Bangalore increased significantly on Monday, August 4, dimming hopes of retail jewellery buyers of a decline in the price of gold ahead of the festive season. The surge in Bangalore gold rate today reflects a nationwide rise in the price of gold amid rising geopolitical uncertainty and stock market volatility.

Bangalore gold rate on Monday increased nominally by Rs 4 per gram, after jumping sharply by Rs 153 per gram on Saturday. The gold price rally on Monday was driven by uncertainty around trade tariffs announced by US President Donald Trump ahead of the deadline of 7 August. Back in the Indian city of Bangalore, the significant surge may raise the expenses of retail jewellery buyers.

Bangalore Gold Rate Today

The price of 24 karat gold in Bangalore increased by Rs 5 per gram to Rs 10140 per gram on Monday. Whereas, the price of 22 karat gold in Bangalore surged by around Rs 5 per gram to Rs 9,295 per gram. Likewise, the 18 karat gold rate in Bangalore declined by Rs 4 per gram to Rs 7,605. A surge in gold rate today has come after the precious metal's cost increased by Rs 153 per gram (for 24 karat) on Saturday. With the two-day consecutive surge, the 24-karat Bangalore gold rate has increased by Rs 15,800 per 100 grams.

Silver Rate in Bangalore Today

The price of silver in Bangalore remained stagnant at Rs 113 per gram and Rs 1,13,000 per kilogram. Despite being relatively stable compared to gold prices, the white metal is hovering close to its record high mark because of rising industrial demand and better valuations.

Despite an increase in the gold rates in Bangalore, international gold prices witnessed a mild decline on Monday, August 4. The precious commodity's rate declined to around $3,350 per ounce. The mild decline came as investors booked profits after a record surge in international gold prices.

The international as well as domestic gold prices continue to remain close to their record-high levels as the investors remain apprehensive about the repercussions of Donald Trump's Trade tariffs, set to come into effect on August 7.

Gold, Silver Price Outlook

The price of gold is likely to see a decline on Monday as the precious metal continued to remain at elevated levels. "Gold prices are expected to pullback. One can buy at 99500 with a stop loss of 99200 for the target at 100000- 100300," noted Nirmal Bang brokerage.

For silver, the brokerage added, "Silver prices are expected to pullback. One can buy at 109800 with a stop loss of 108800 for the target 111000-112000."

"The rally was driven by investor concerns over new tariffs announced by President Trump, ranging from 10% to 41%, due to begin August 7, sparking a rush to safe-haven assets. Additionally, soft US labor market data bolstered expectations that the Federal Reserve could lower interest rates in its upcoming September meeting. Market participants are now closely watching for further signals from the Fed amid trade and economic uncertainties," noted Ajay Kedia of Kedia Advisory.

Disclaimer: The write-up is just for information purposes, and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on article mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.