Bangalore Gold Rate Today Eyes Rs 1.6 Lakh Mark! Silver Slides On 10 Feb: Buy Now Or Wait?

Bangalore Gold Rate Today: The price of 24-karat gold in Bangalore (Bengaluru) hovered near the Rs 1.6 lakh per 10-gram mark on Tuesday, February 10, while silver prices in the city witnessed a sharp decline. Even as domestic gold and silver rates remained largely stable, international markets saw notable weakness amid continued profit booking by investors.

Stable gold and silver prices can cheer investors who are eagerly waiting for the prices to decline after the historic rally in January. For retail jewellery buyers and investors who closely track gold and silver rates, here are latest details about their prices in Bangalore.

Bangalore Gold Rate Today

The price of 24 karat gold in Bangalore stood at Rs 15,791 per gram, according to GoodReturns data at 12:30 pm on Tuesday, February 10. The rate of 22 karat gold in Bangalore stood at Rs 14,475 per gram, and the rate of 18 karat gold in Bangalore was priced at Rs 11,844 per gram.

Bangalore Silver Rate Today

While the price of gold in Bangalore remained stable, silver rate today saw some decline. Bangalore silver rate today declined to Rs 290 per gram and to Rs 2,90,000 per kilogram on Tuesday, February 10.

While domestic prices, as per GR data, remained stable on Tuesday, spot gold and gold rates on Multi Commodity Exchange (MCX) declined after surge in last seven days. MCX gold futures (with April expiry) was down 0.7% at 12:34 pm. Whereas, MCX silver futures (with March expiry) was down 1.93%.

The international gold rate today declined $5,030 per ounce on Tuesday, as per Trading Economics. The decline came after the US Dollar regained strength and investors opted to book profit after last week's rally. However, geopolitical tensions and trade uncertainty are likely to impact investors sentiment around gold and silver.

Bangalore Gold Rate Today Stable: Time To Buy?

Stable domestic prices of gold and silver rate in Bangalore on Tuesday offer a lucrative entry point for retail investors and gold buyers. However, experts suggest investors to opt for staggered investment to increase their exposure in gold and silver investment via options like ETF, digital gold, etc.

"Despite the recent spike and near-term volatility in gold prices, our outlook remains unchanged. Short-term moves may stay choppy, but ongoing global uncertainty, central-bank buying and currency trends continue to support gold. Our targets remain the same at ₹1.8-1.9 lakh per 10 grams by year-end," stated Tushar Badjate, Director of Badjate Stock & shares Pvt Ltd.