Bangalore Gold Rate Today Takes U-Turn! 24K Up Rs 710 As Rupee Breaches 90 Mark Against USD; Check 3 Dec Rates

Bangalore Gold Rate Today: There was a sharp rebound in the prices of 24 karat, 22 karat and 18 karat gold in Bangalore and other Indian cities on Wednesday, December 3. The sharp jump in gold rates today was accompanied by a surge in silver prices as well.

The jump in the Bangalore gold rate today reflects the revival of the momentum of precious metal in the domestic as well as the international market. The gold price rally in India is also fuelled by the underwhelming performance of the Indian currency and surging international rates. Back in Bangalore, the recent surge has come as a major setback for retail jewellery buyers who were planning to make a purchase during the ongoing wedding season.

Bangalore Gold Rate Today

The price of 24 karat gold in Bangalore jumped over Rs 71 per gram to Rs 13,058 per gram. Likewise, the price of 22 karat gold in Bangalore increased over Rs 65 per gram to Rs 11,970 per gram. Similarly, the rate of 18 karat gold in Bangalore jumped over Rs 53 per gram to Rs 9,794 per gram.

"Given fluctuations in foreign currency values, as well as ongoing volatility in the global market, it is expected that gold will remain a viable hedge against inflation," stated Aksha Kamboj, Vice President, India Bullion & Jewellers Association (IBJA) and Executive Chairperson, Aspect Global Ventures.

Bangalore Silver Rate Today

The price of silver in Bangalore saw a sharp increase on Wednesday. Bangalore silver rate today surged to Rs 191 per gram and to Rs 1,91,000 per kilogram on December 3. The jump in silver prices has come against the backdrop of strong industrial demand and supply-side constraints.

The sharp surge in silver prices has come days after the metal saw some correction. In the long-term, the white metal continues to remain an attractive investment opportunity. "While short-term volatility is normal, silver continues to hold long-term appeal as both an industrial metal and a store of value. For those with a medium- to long-term horizon, this could be a prudent entry point," added Kamboj.

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