Gold Rate Today in Bengaluru: BIG Fall In 24K, 22K, 18K Gold in Karnataka Capital, Silver Stable| May 11 Rates

Gold Rate Today in Bengaluru: Prices of 24 karat, 22 karat, and 18 karat gold in Bengaluru declined on Monday, reflecting a weaker trend in the domestic bullion market. In contrast, silver prices in the city remained stable. The decline in gold prices came amid a sharp rise in crude oil prices, which weighed on sentiment in the precious metals market.

The recent fall in gold prices in Bengaluru, aka Bangalore, has revived hopes of investors and gold jewellery buyers to make purchases. However, the recent statement by Prime Minister Narendra Modi to avoid gold purchases may also impact the gold buying sentiment.

24K, 22K, 18K Gold Price Today in Bengaluru

The price of 24 karat gold in Bengaluru declined by Rs 22 per gram to Rs 15,213 per gram. Likewise, the price of 22 karat gold in Bengaluru fell by Rs 20 per gram to Rs 13,945 per gram on Monday. Similarly, the price of 18 karat gold in Bengaluru slipped by Rs 16 per gram to Rs 11,410 per gram.

Silver Rate Today in Bengaluru

The price of silver in Bengaluru remained stable on Monday, May 11. Silver rate today in Karnataka capital remained at Rs 275 per gram and at Rs 2,75,000 per kilogram. Silver price in Bengaluru saw massive volatility in January where the white metal saw sharp rally, only to be followed by a steep crash in February.

"Gold prices fell in early morning trade after posting weekly gains, pressured by a firm Dollar and elevated oil prices after President Trump rejected Iran's latest response to a U.S.-backed peace proposal. Bullion had gained more than 2% last week on hopes of progress in U.S.-Iran negotiations, but sentiment turned cautious again after Trump described Tehran's counteroffer as "totally unacceptable," reviving fears that talks could stall and tensions around the Strait of Hormuz could persist," explained Manav Modi Commodities Analyst, Motilal Oswal Financial Services Ltd.

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