Gold Prices In Bangalore & Kerala At New High: Yellow Metal Jumps By Nearly Rs 10K On Apr-16; How Much You Pay

Gold prices in India jumped on Wednesday, April 16, after falling for the second consecutive day. Currently, there was a massive jump in 24K, 22K, and 18K gold prices in major metro cities like Bangalore and Kerala to the tune of nearly Rs 10,000. That being said, yellow metal in India is at a new historic high. The performance tracked international prices that peaked on Wednesday as well, due to ongoing uncertainty in the US-China trade war.

Gold Prices In Bangalore + Gold Prices in Kerala:

24K, 22K and 18K gold prices are similar in both the cities. On April 16, 100 grams of gold jumped by Rs 9,900 to new peak of Rs 9,61,700 in 24K, followed by Rs 9,500 upside in 22K of 100 grams to Rs 8,81,500. Additionally, gold price of 100 grams in 18K climbed by Rs 7,800 to Rs 7,21,300.

Furthermore, 10 grams of gold in 22K reached to new record of Rs 88,150, up by Rs 950. While 10 grams of 24K touched a fresh historic high of Rs 96,170, up by Rs 990 in a single day. Joining the record-high bandwagon, the 18K gold price is up by Rs 780 to Rs 72,130 per 10 grams.

Meanwhile, 8 grams gold price is at Rs 76,938, higher by Rs 792 in 24K, followed by an upside of Rs 760 to Rs 70,520 in 22K, and a surge of Rs 624 to Rs 57,704 in 18K. Finally, 1 gram of gold price is up by Rs 78 to Rs 7,213 in 18K, while 1 gram of 22K and 24K edged higher by Rs 95 and Rs 99 to Rs 8,815 and Rs 9,617 respectively.

Silver Prices In Bangalore Vs Silver Prices In Kerala:

Silver is costlier in Kerala than in Bangalore. On April 16, silver surged by Rs 200 to Rs 1,10,000 per 1kg. On the other hand, silver prices climbed by Rs 200 to Rs 1,00,000 per 1Kg.

What To Expect Ahead?

Spot gold price reached near the $,3295 mark on Wednesday, by hitting a new record high of $3294.91 an ounce. This is because of an increase in appetite for safe haven assets amidst weaker dollar and global uncertainties due to Trump's tariff war with China.

As per Axis Securities, COMEX Gold surged nearly 7% last week, marking one of its strongest weekly performances in recent times. The rally was triggered by China's announcement of reciprocal tariffs, which escalated trade tensions and fueled safe-haven demand. Additionally, softer-than-expected inflation data increased the likelihood of a Federal Reserve rate cut-a development typically supportive of bullion, given the inverse relationship between interest rates and gold prices. As gold trades near its all-time highs, we expect heightened volatility in the near term."

Further, the brokerage added, silver mirrored gold's bullish momentum, posting a sharp rebound of close to 9% and closing above the $32 mark. Safe-haven inflows and improved sentiment in industrial metals contributed to the uptick, reinforcing silver's dual role as a precious and industrial metal.