BIG Fall In Bangalore Gold Price Today, Day After Akshaya Tritiya! 24K Dips Rs 4,900/100 Gm on April 20

Bangalore Gold Price Today: The price of 24 karat, 22 karat and 18 karat gold in Bengaluru (aka Bangalore) reversed its gains on Monday, April 20, after seeing a sharp jump in the past few trading sessions. The decline in gold rate today came as part of a weaker sentiment prevailing across the domestic and international bullion market.

Bangalore is home to a large base of startup founders, business leaders, and high-net-worth investors. The Karnataka capital sees strong interest in gold prices. Even as the Akshaya Tritiya rush subsides, demand for gold remains evergreen. Here are the latest gold and silver prices in the city.

Bangalore Gold Rate Today

The price of 24 karat gold in Bangalore fell by Rs 49 per gram to Rs 15,529 per gram on Monday, April 20. Consequently, the price of 100 grams of 24 karat gold by Rs 4900 to Rs 152900. The rate of 22 karat gold in Bangalore declined by Rs 45 per gram to Rs 14,235 per gram. Likewise, the rate of 18 karat gold in Bangalore dipped by Rs 37 per gram to Rs 11,647 per gram.

Bangalore Silver Rate Today

The price of silver in Bangalore remained stable on Monday. Silver rate today in Bangalore stood at Rs 275 per gram and at Rs 2,75,000 per kilogram. Silver price in Bangalore has remained stable over the past few days, however, the rates saw a sharp volatility in January and February.

"In today's trading session, gold prices dipped to approximately Rs 1,43,876 per 10 grams ($4813.30/oz), reflecting a 0.58% increase, while silver surged to Rs 2,40,057 per kg ($80.31/oz), up 2.17%. The decline in gold can be attributed to profit booking amid rising crude oil prices, which are now at $82.59 per barrel (Rs 7,679), following renewed tensions in the Middle East, particularly around the Strait of Hormuz. The market is reacting to fears of inflationary pressures spurred by these geopolitical developments, which have temporarily boosted the dollar, leading to a sell-off in safe-haven assets like gold and silver," explained Gaurav Garg, research analyst at Lemonn markets desk.

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