Bangalore Gold Rate Today Takes U-Turn! 24K Jumps Rs 22,400/100 Gm In Single Day; Silver Shines| 9 Feb Rates

Bangalore Gold Rate Today: Gold prices in Bangalore, aka Bengaluru, jumped sharply on Monday, February 9, with 24-karat gold tracking strong gains in the domestic and global market. The rally was driven by a weaker US dollar and rising geopolitical uncertainties, which boosted safe-haven demand. Silver prices also rebounded strongly, snapping last week's losing streak amid improved market sentiment.

Back in Bangalore, the surge in gold and silver prices are likely to deter the sentiment of retail jewellery buyers and investors. Here is all the information about latest Bangalore gold rate today.

Bangalore Gold Rate Today

The price of 24 karat gold in Bangalore surged by Rs 224 per gram to Rs 15,884 per gram on Monday, February 9. The rate of 22 karat gold in Bangalore jumped by Rs 205 per gram to Rs14,560 per gram. The rate of 18 karat gold in Bangalore rose by Rs 168 per gram to Rs 11,913 per gram. Sharp jump in Bangalore gold rate today came after the prices fell significantly in the last ten days.

Bangalore Silver Rate Today

The rate of silver in Bangalore jumped by Rs 15 per gram to Rs 300 per gram and to Rs 15,000 per kilogram to Rs 3,00,000 per KG. The sharp reversal in silver rate in Bangalore has come days after the precious metal price crashed significantly.

Jump in domestic gold and silver prices coincided with the sharp jump in international prices. The international gold price surged nearly 1% to above $5,020 per ounce on Monday, which was the highest level in over a week, according to Trading Economics. The sharp jump in gold rate today was supported by weaker US dollar performance. Additionally, investors are eagerly waiting for the key US economic data to understand US Federal Reserve's interest rate outlook.

"Central bank purchases and ETF inflows continue to absorb a significant portion of global gold supply, providing a strong base of long-term demand. At the same time, ongoing geopolitical uncertainty and macro risks keep the safe-haven narrative relevant, even if flows ebb and flow in the short run," noted InCred Money Team.

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