Bangalore Gold Rate Today Dips Below Rs 1 Lakh! Silver Follows; Will 24, 22,18K Gold Prices Drop Further?

Bangalore Gold Rate Today: There was a sharp decline in the price of precious metal in Bangalore and across India on Friday amid apprehensions around US President Donald Trump-led tariffs. Although President Trump has further postponed the US tariffs deadline, investors remain cautious and are evaluating the possible impact of trade tariffs. The gold rate in India has witnessed a sharp decline over the past few days.

Back in Bangalore, the price of the precious metal declined on Friday to drag gold prices below the Rs 1 lakh mark. Friday's fall in gold rates has raised expectations among investors for a further decline in its prices. Here are all the details about gold rates in Bangalore on Friday, August 1.

Bangalore Gold Rate Today

The price of 24 karat gold in Bangalore declined by Rs 210 to Rs 99,820 per 10 grams on Friday. Likewise, the price of 22 karat gold in Bangalore fell by Rs 200 to Rs 9,150 per 10 grams. Similarly, the price of 18 karat gold in Bangalore plunged by Rs 160 to Rs 74,870 per 10 grams. Gold in Bangalore remains in demand not just among investors but also retail jewellery buyers, who prefer to make the purchase for cultural significance.

Declining Bangalore gold rate today aligns with the falling price of gold in India on Friday. The price of 24, 22, and 18 karat gold in India on Friday stood at Rs 9,982; Rs 9,150; and Rs 7,487 per gram respectively.

Silver Rate in Bangalore

The price of silver in Bangalore also declined on Friday, 1 August. Silver rates in Bangalore fell by Rs 2 per gram to Rs 21 per gram. Likewise, the price of silver in Bangalore fell by Rs 2,000 to Rs 1,13,000 per kilogram. Silver rate in Bangalore increased in line with the surge in silver rate in India and across the world. There has been a sharp surge in silver rate due to its better price valuations compared to gold and rising industrial demand.

Will Gold Rates Decline Further?

International gold rate today remained more or less unchanged at $3,290 per ounce on Friday to record its worst-ever weekly performance, according to Trading Economics. The decline has come against the backdrop of stronger US Dollar valuation after Donald Trump announced updates on US tariffs.

Despite showcasing its worst-ever weekly performance, gold rates are likely to see a further decline in the coming days. "Gold prices remained flat around $3,290 per ounce on Friday but are poised to log their steepest weekly drop since June. A surging US dollar, fueled by President Trump's aggressive tariff measures on countries lacking trade deals, dragged prices lower. New tariffs include a 10% global base duty and up to 41% retaliatory levies, sparking trade concerns. Additionally, hotter-than-expected June PCE inflation data added pressure, dimming hopes for a near-term Federal Reserve rate cut. Market attention now shifts to July's jobs data for clues on future monetary policy," 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.