BIG Drop In Bangalore Gold Rate Today! 24K, 22K, 18K Gold Falls Amid Iran-US War | Check May 5 Rates

Bangalore Gold Rate Today: Prices of 24 karat, 22 karat, and 18 karat gold in Bengaluru (Bangalore) declined for the second straight day on Tuesday, May 5, while silver prices also moved lower in tandem. The drop in precious metal prices comes amid continued weakness in the international bullion market, as ongoing updates on the US-Iran war have pushed up oil prices, strengthened the dollar, and heightened inflation concerns.

Back in Bengaluru, falling gold prices have revived hopes of a fresh correction in the precious metal in the coming days. Here are the latest details about the gold price in Bangalore.

Bangalore Gold Rate Today

The price of 24 karat gold in Bangalore fell nearly Rs 44 per gram to Rs 14,918 per gram on Tuesday, May 5. Which means that the price of per 10 gram of 24 karat gold declined by Rs 440 per gram to Rs 1,49,180 on Tuesday. The rate of 22 karat gold in Bangalore fell by Rs 40 per gram to Rs 13,675 per gram, which means that per 10 gram of 22 karat gold in Bangalore was priced at Rs 1,36,750. The rate of 18 karat gold in Bangalore declined by Rs 33 per gram to Rs 11,189 per gram.

Bangalore Silver Rate Today

The price of silver in Bangalore saw minor decline. Bangalore silver rate today declined to rs 255 per gram and to Rs 2,55,000 per kilogram. Silver rate in Bangalore and across the country saw massive volatility in the January and February, where the precious metal saw massive surge in January followed by steep crash next month.

"Gold prices pressured by a firm dollar and yields and rising inflation expectations as oil prices surged amid escalating Middle East tensions. However, rising USDINR is capping losses for bullion on domestic front. Over the weekend, U.S. President Trump announced "Project Freedom," an initiative aimed at reopening the Strait of Hormuz, a key route handling nearly 20% of global oil flows, which has remained largely blocked by Iran since the conflict began. Reports of missile exchanges, attacks on vessels, and an Iranian strike on UAE's Fujairah oil hub intensified supply disruption fears, pushing crude prices sharply higher and amplifying global inflation concerns," said Manav Modi Commodities Analyst, Motilal Oswal Financial Services Ltd.