Bangalore Gold Rate Today On Fire! 24K Price Shoots Rs 6,000 Above Historic Rs 1 Lakh Mark on Sept 2

Bangalore Gold Rate Today: A day after reaching at a record-high mark, gold prices in Bangalore continued their stellar run on Tuesday as well. The 24-karat gold prices have increased significantly over the past few weeks and are currently Rs 6000 higher than the Rs 1 lakh mark, which was considered historic around four months ago.

The sharp surge in gold prices has come amid rising geopolitical uncertainty, trade tensions and market volatility. Expectations of a US Fed rate cut have further diverted investors towards the precious metal. Back in Bangalore, the sharp surge in gold rates has emerged as a major setback for retail investors.

Bangalore Gold Rate Today

The price of 24 karat gold in Bangalore stood at Rs 10,609 per gram, after increasing by Rs 21 per gram. Likewise, the price of 22 karat gold in Bangalore stood at Rs 9,725 per gram, after increasing by Rs 20. Similarly, the price of 18 karat gold in Bangalore jumped by Rs 16 to Rs 7,957 per gram.

Bangalore gold rate on September 2 made another record after jumping significantly on Monday. Gold prices' safe haven demand has increased significantly over the past few months, especially after Donald Trump returned as US President. Trump administration-led US tariffs have further escalated the trade tensions, leading to a jump in gold demand.

Bangalore Silver Price Today

Silver price in Bangalore also jumped on Tuesday. The price of silver increased to Rs 126.10 per gram and Rs 1,26,100 per gram. The sharp surge in silver prices is the result of rising industrial demand, its attractive valuation against gold and global uncertainty. Silver also appears as an attractive option for retail jewellery buyers as gold is currently at its all-time high mark.

Will Gold Prices Rise Further?

Gold prices are expected to rise significantly on Tuesday. "Gold prices are expected to rise. One can buy at 104300 with a stop loss of 104000 for the target at 104700-105200," noted Nirmal Bang in its technical outlook report on Tuesday.

"Silver prices are expected to rise. One can buy at 123500 with a stop loss of 122500 for the target 125000-127200," the brokerage added for silver price outlook.

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