Bangalore Gold Rate Frenzy Continues! 24K Is Rs 10,510 Above Rs 1 Lakh, 22K Crosses Historic Mark On Sept 10

Bangalore Gold Rate Today: Dashing the hopes of retail jewellery buyers, gold prices in India continued their upward rally on Wednesday, September 10. Gold rates in Bangalore and other major cities have been on a steady rise for months, but the surge has accelerated sharply since the beginning of September. Within just ten days, gold has shattered multiple records, highlighting the strength of the ongoing rally in the precious metal.
Following the gold rate trend, the price of silver has also increased significantly in seven days. The gold price rally is fuelled by a host of factors, including US Fed rate cut expectations, geopolitical tensions, trade tariff uncertainty, etc. Back in India, the unprecedented gold price rally has come amid the ongoing festive season. For Bangalore residents, here are the latest gold rates on September 10.

Bangalore Gold Rate Today

The price of gold in Bangalore increased significantly on Wednesday. The 24 karat gold in Bangalore surged by around Rs 21.9 per gram to Rs 11,051 per gram. The price of 22 karat gold in Bangalore surged around Rs 20 per gram to Rs 10,130 per gram. Likewise, the price of 18 karat gold in Bangalore increased by Rs 16 per gram to Rs 8,288 per gram.

"There is domestic buying interest with the festive and wedding season starting, although these prices are likely to deter some price-sensitive households from buying jewellery. Experts expect to see ongoing investment-led buying and ETF inflows despite record prices, which reinforces investor's trust in gold's safe-haven status. I think with the ongoing global uncertainty and central bank buying, the near-term outlook shows continued strength, with only limited downside," noted 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 also increased significantly on Wednesday. Silver rate in Bangalore increased to Rs 130 per gram and to Rs 1,30,000 per kilogram today. There has been a sharp surge in the price of silver since the beginning of the year. The surge in precious metal's rate has come in the backdrop of rising industrial demand for silver, its attractive valuation amid gold price rally, and other factors.

Silver's outperformance against gold has made it an attractive bet among investors, however, the sharp surge in its prices may lead to profit booking and near-term volatility, believes Kamboj.

"The fact that silver is both an industrial metal and a precious metal is another layer of strong support in the current environment, and further upside is possible if demand continues to deliver," noted Aksha Kamboj.