Bangalore Gold Rates Today- Feb 20: 916 Gold Surges Rs.3,500/100g, Silver Drops

Gold prices in Bangalore are rising rapidly, making it more expensive day by day. While investors with gold holdings are benefiting from the surge, retail buyers are holding back due to the high prices. Meanwhile, at the international level, U.S. President Donald Trump's tariff plans have sparked concerns about rising costs and a potential global trade war.

Gold Prices Per 10 Grams

Gold rates in Bangalore today for the 10 grams of 22 karat gold are currently at Rs. 80,700 after rising Rs. 350 per 10 grams. The 24-carat gold rates also surged by Rs. 390 per 10 grams to cost Rs. 88,040. The cheaper variant, or the 18-carat gold, now costs Rs. 66,030, which surged by Rs. 290 per gram.

Gold prices per 100 grams

100 grams of 24-carat gold rates in Bangalore are now at Rs. 8,80,400 after witnessing the rise of Rs. 3,900, while the 22-carat gold in Bangalore rose by Rs. 3,500 to cost Rs. 8,09,000.

Gold prices at an unstoppable rally

Today marks the fourth day of consecutive gains in gold prices in Bangalore this week. Gold rates have been on a constant bull run in February as the fears of trade wars are escalating; investors are shifting to gold as secure investments.

As per the Commodity Research report from ICICI Direct. "Gold is expected to hold the key support at $2910 and may move higher towards $2960 amid increasing safe haven demand. Meanwhile, weakness in US Treasury yields would also provide support to the bullion. An uncertain economic environment and escalating trade tension would increase safe haven demand. On the other hand, diminishing prospects of a rate cut this year would check more upside in the bullion. "

Gold Prices in Major Indian Cities

Most of the Indian cities experience this rise in gold rates. Here are gold prices in some of the major cities in India:

Silver Prices in Bangalore Today

Silver prices in Bangalore today declined by Rs. 100 per kilogram after showing no movement for five consecutive sessions. 1 kilogram of silver currently costs Rs. 100,400. The price of 100 grams of silver is currently at Rs. 10,040, which slipped by Rs. 10.

Gold and Silver Future Price on MCX

Gold on the Multi Commodity Exchange (MCX) slipped from its record high after crossing the 86,000 mark.

"MCX Gold April is expected to hold the support of Rs.85,500 and move towards the Rs.87,000 level. Spot silver is expected to rise towards $33.00, as long as it trades above USD 32. MCX Silver is expected to rise towards Rs. 98,200, as long as it holds above Rs. 95,600," says a commodity research report from ICICI Direct.

Spot Gold and Silver Prices Rises

According to a recent Reuters report, spot gold rose 0.2% to $2,937.74 per ounce by 0235 GMT, staying close to its all-time high of $2,946.85, recorded on Wednesday. Meanwhile, U.S. gold futures gained 0.7% to $2,955.90 per ounce.

Spot silver also edged up 0.1% to $32.75 per ounce.

The Reuters report quoted Tim Waterer, Chief Market Analyst at KCM Trade, who noted that uncertainty in global trade and inflation is driving gold prices higher, bringing the $3,000 mark within reach.