Sharp Jump In Bangalore Gold Rate Today! 24K Gold Up By Rs 2730/10 Grams; Silver Bucks Trend

Bangalore Gold Rate Today: Gold buyers in Bangalore braced for another massive hike in the price of the yellow metal in Karnataka capital. The significant spike in gold rates led its price to rebound to Akshaya Tritiya levels. However, silver defied the trend as its rates declined on Tuesday, May 6.

The spike in Bangalore gold rate today is likely to impact the budget of buyers amid the ongoing wedding season. It will also deter people from buying the metal from an investment perspective.

Bangalore Gold Rate Today

The price of gold in Bangalore increased significantly on Tuesday. 24 karat gold price in Bangalore increased by Rs 2730 to Rs 98460 per 10 gram today. Likewise, the price of 22 karat gold in Bangalore also jumped by Rs 2500 to Rs 90,250 per 10 grams. Rate of 18 karat gold in Karnataka capital stood at Rs 73840, after surging by over Rs 2,040 per 10 gram.

The price of 24 karat gold in Bangalore increased for the second consecutive day on Tuesday, dampening hopes of gold buyers for a trend reversal in the price of the precious metal after it touched record high levels in April.

Silver Rate in Bangalore Today

The price of silver in Bangalore bucked the trend seen in gold prices in the city. The price of silver declined by Rs 0.10 to Rs 96.90 per gram and by Rs 100 to Rs 96,900 per kilogram. There has been a gradual increase in the demand for silver whenever there is a significant increase in gold prices, as it acts as a cheaper alternative to the yellow metal for jewellery buyers.

Gold Rate in India Today

The gold rate in India today increased to record high levels in April. On May 6, the price of 24 karat gold in India increased by Rs 2500 per 10 grams to Rs 90, 250. While the 24-karat gold prices today jumped by Rs. 2750 and cost Rs. 98,460 per 10 grams. The rate of 18-karat gold rate in India today, increased by Rs 2040 per 10 grams to cost Rs 73,840.

The prices of precious metals mentioned above are indicative and don't include additional charges like GST or making charges. Hence, jewellery and ornament buyers must confirm the gold and silver prices at a reliable jewellery shop to make an informed decision.

International gold prices also surged on Tuesday and crossed the $3,360 per ounce mark on today. The international gold price reached to its highest level in more than a week after US President Donald Trump's new tariff threat sparked gold's safe-haven rally.

The fresh spike in gold prices has come against the backdrop of fresh tariff announcements by United States President Donald Trump on movies produced outside Hollywood.

Donald Trump has imposed massive tariff on foreign movies in a bid to protect Hollywood. In addition to this, he has signed an executive order to boost local pharmaceutical companies and tighten norms for foreign pharmaceutical firms. Amid concerns about US tariffs, investors are keenly waiting for the upcoming US Federal Reserve meeting, which is likely to announce clarity on potential rate cuts.