Bangalore Gold Rate Today on Fire! Inches Closer To Rs 1 lakh mark; Check Latest 24, 22, 18K Gold Price

Bangalore gold rate today: The relentless climb of yellow metal's price is nowhere to end in the Karnataka capital as persistent geopolitical risk and India-Pakistan tensions keep the market on edge. The return of gold's safe haven rally has skyrocketed the gold rate in Bangalore, Mysore, Mangalore, Belgaum and other Karnataka cities.

Bangalore Gold rate today surged significantly and inched closer to the Rs 1 lakh mark. The recent surge in the gold price today has come against the backdrop of the ongoing wedding season. The development related to bullion is likely to dampen gold buyers' sentiment in India.

Bangalore Gold Rate Today

Bangalore gold rate today surged and inched closer to Rs 1 lakh mark on Thursday. 24 karat gold rate in Bangalore increased by Rs 600 per gram to Rs 99600 per 10 grams on May 8. 22 karat gold price in Bangalore surged by Rs 550 to Rs 91300 per 10 grams. Likewise the rice of 18 karat gold in Karnataka capital increased to Rs 74700 per 10 gram.

Bangalore Silver Rate Today

The price of silver in Bangalore remained stable on Thursday. Its price stood at Rs 99 per gram and Rs 99,000 per kilogram on May 9. Unlike gold, the silver rate in Bangalore has remained stable over the past few weeks. Generally, there is a surge in demand for silver whenever gold price rally due to diversion towards the metal. This happens generally because silver appears as a cheaper alternative to gold for buyers.

Gold Price in India Today

The price of gold in India today inched closer to Rs 1 lakh mark. 24 karat gold rate in India today surged by Rs 600 per 10 grams, whereas the price of 22 karat gold prices surged to Rs 9130 per gram. The price of 18-karat gold today also spiked to Rs 7470 per gram.

The prices of gold and silver mentioned above are indicative and don't include additional charges like making charges or GST. Hence, the actual cost of jewellery and ornaments may vary based on these additional charges. Gold buyers must confirm the price of gold and additional charges from a reliable jewellery shop before making a purchase.

"Gold and silver prices are trading slightly higher today on the international bourses. We expect precious metal prices on Indian bourses to trade range-bound to slightly lower for the day, as gold prices climbed after tumbling on Wednesday as the Federal Reserve held interest rates, and Chair Jerome Powell said the central bank isn't in a rush to cut despite trade-war uncertainty," commented Nirmal Bang Securities.

The international gold price declined on Thursday to 3,360 per ounce due to a cautious outlook on US interest rates. A day ago, the Federal Reserve Meeting announced keeping repo rates stable and flagged the risk of increasing inflation and unemployment in the United States. Fed Chair Jerome Powell also hinted that the central bank is not considering a preemptive rate cut in response to a potential economic fallout from tariffs. Meanwhile, the uncertainty around the US-China trade talks continued as US President Donald Trump said he would not consider reducing the US's 145% tariffs on China.