Bangalore Gold Rate Today Rebounds Ahead of Akshaya Tritiya: 24K Jumps Rs 8,000/100g, Silver Holds Steady

Bangalore Gold Rate Today: Just a day ahead of Akshaya Tritiya, gold prices in Bengaluru have reversed their previous losses and staged a sharp rebound. The price of 24-karat gold surged by Rs 8,000 per 100 grams on April 18. The uptick also aligned with a rise in local silver prices, reflecting the broader rally in international gold rates.

Akshaya Tritiya is an auspicious festival celebrated across India to mark new beginnings and the purchase of gold for good fortune. Karnataka's capital, Bangalore, is home to lakhs of techies, startup founders, and its domestic gold and silver rates often attract the attention of gold jewellery buyers.

Bangalore Gold Rate Today

The price of 24 karat gold in Bangalore jumped by Rs 81 per gram to Rs 15,578 per gram on Saturday, April 18. The rate of 22 karat gold in Bangalore surged by Rs 75 per gram to Rs 14,280 per gram. Likewise, the rate of 18 karat gold in Bangalore increased by Rs 61 per gram to Rs 11,684 per gram, as per Goodreturns data at 11 am. The recent jump in Bangalore gold rate today, means that per 24 karat gold in Bangalore became expensive by Rs 8,100 per 100 gram on Saturday.

Bangalore Silver Rate Today

The price of silver in Bangalore also surged on Saturday. Silver rate today in Bangalore surged by Rs 10 per gram to Rs 275 per gram on Saturday and to Rs 2,75,000 per kilogram, as per Goodreturns data at 11 am.

The surge in gold prices in Bangalore has come amid tensions between Iran and US and confusion around Strait of Hormuz blockade. " Jump in gold price was bolstered by hopes surrounding US-Iran talks that could ease geopolitical tensions. Conversely, crude oil experienced a significant drop, with WTI prices falling to $89.56 per barrel, down 5.42%, driven by concerns over potential oversupply and a stronger dollar, which has impacted demand forecasts. The market is closely monitoring these developments, as the interplay between geopolitical factors and economic indicators continues to influence commodity prices," explained Gaurav Garg, research analyst at Lemonn markets desk.