Bangalore Gold Price Today Fall Again To Inch Closer To Rs 95,000; Check Latest 24, 22, 18 K Gold Rates Here

Bangalore Gold Price Today: The month of May started on a positive note for gold buyers as the precious metal became cheaper for two consecutive days, ie May 1 and 2. Bangalore gold rate declined for the second time in May on Friday.

The price of gold in Bangalore, also known as Bengaluru nosedived by more than Rs 2,180 on Thursday, and continued its downward trend next day as well.

Bangalore Gold Rate Today

In an absolute delight for gold buyers during the ongoing wedding season, Bangalore gold rate today fell by Rs 220 per 10 gram. With this decline, 24 karat gold price in Bangalore declined to Rs 95510 per (per 10 gram). Likewise, 22 karat gold rate in Bangalore reduced to Rs 87550 (per 10 gram). Additionally, the price of 18 karat gold fell by Rs 160 to Rs 71640 (per 10 gram).

The declining trend in Bangalore gold price aligns with the falling gold price across India, weeks after the yellow metal touched its all-time high mark of Rs 1 lakh.

Bangalore Silver Rate Today

The price of silver in Bangalore remained unchanged on Friday as the precious metal's rate stood at Rs 98 per gram and Rs 98,000 per kilogram. While silver has a massive industrial demand, it also enjoys significant popularity among retail buyers of jewellery and ornament. The demand for silver among retailers increases further when there has been a surge in gold price. Generally, jewellery buyers see silver as a cheaper alternative to gold.

Gold Price in India Today

Gold rate in India today declined for the second consecutive day in May, The price of 24 karat gold in India fell nearly Rs 22 to Rs 9,510 per gram. Likewise, 22-karat gold rate in India fell to Rs 8,755 per gram, marking a decrease of Rs 20 from the previous day. The rate for 18-karat gold, also referred to as 999 gold, has fallen by Rs 16 to Rs 7,164 per gram compared to May 1.

The price of silver in India on May 2 stood at Rs 98,000 per kilogram. Wheres, the price of 100 gram of silver remain unchanged in India at Rs 9,800, and the 10g rate was unchanged at Rs 980.

The price of gold and silver mentioned above are indicative and doesn't include additional costs like making charges or GST, hence jewellery buyers must check the price with a reliable jewellery shop owners to make an informed decision.

Gold price in India has increased significantly over the past few months amid geopolitical uncertainty and stock market volatility. Internationally, the price of gold remained around $3,250 per ounce on Friday, according to Trading Economics. Softening international gold prices indicate easing trade tensions. Despite decline in gold prices, the yellow metal is still close to its all-time high mark.

The gold price rally coincided with the increase in global trade conflict post US President Donald Trump's trade tariffs announcements.

However, as Trump announced a 90-day pause, hinting a softening in stance on tariffs, stock market is consolidating. Meanwhile, investors are optimistic about development related to US-China trade conflict negotiations. Following the positive cues, gold's safe-haven rally is likely to cool down in the coming days.