Gold Price In Bangalore Rises For 6th Day: Up By Rs 10,400 For 24K/100G On July 23; Silver Rates Also Up

Bangalore Gold Rate Today: Gold prices in Bangalore jumped today on July 23, making it the sixth day in a row that prices have increased. The price of 24-karat gold for 100 grams has gone up by more than Rs 10,000 today in Bangalore.

This rise is due to strong demand in India and changes in the global market. Many investors are being careful because of ongoing trade issues and new worries about the U.S. Federal Reserve's independence. People are turning to gold as a safe investment, especially with the upcoming trade tariff deadline on August 1 set by former President Trump.

Here are the latest Bangalore gold rates today for Wednesday, July 23.

Gold Rate in Bangalore Today:

On July 23, the 22-carat gold price in Bangalore went up by Rs. 950 per 10 grams, now costing Rs. 93,800. Meanwhile, 24-carat gold saw a rise of Rs. 1,040, bringing its price to Rs. 1,02,330 per 10 grams. Similarly, 18-carat gold prices jumped by Rs 780, now priced at Rs 76,750 for 10 grams.

While the price per gram of 24-carat gold in Bangalore became costly by Rs 104, now priced at Rs 10,233. Similarly, 22-carat gold, which is commonly used for jewellery, has increased by Rs 95 and is now priced at Rs 9,380 per gram. The rate for 18-carat gold has also gone up by Rs 78, now costing Rs 7,675 per gram.

Just like that, the cost of 100 grams of 22-carat gold now stands at Rs 9,38,000, showing a Rs 9,500 surge, while 100 grams of 24-carat gold rates in Bangalore have spiked by Rs 10,400, retailing at Rs 10,23,300. The 18-carat of the same quantity is now available at Rs 7,67,500, up by Rs 7,800.

Why Bangalore Gold Prices Have Risen Today?

"Gold Prices jumped today as investors remained cautious amid persistent trade uncertainties and fresh concerns over the Federal Reserve's independence. Ongoing US trade talks, including potential new tariff announcements by President Trump and upcoming meetings between Treasury Secretary Scott Bessent and Chinese officials, have injected optimism that deadlines could be extended, calming immediate fears of escalations," said Ajay Kedia, Director, Kedia Advisory.

"However, India's gold demand remained weak due to near record-high prices, pushing dealers to widen discounts to attract hesitant buyers. India's June gold imports slumped by 40% year-on-year to their lowest in over two years at 21 tons," added Ajay Kedia of Kedia Advisory.

Silver Prices in Bangalore Today:

Silver prices in Bangalore jumped as well on July 23 for the third consecutive day. The price of silver went up by Rs 1,000 per kilogram, now costing Rs 1,19,000. The rate for 1 gram of silver is now Rs 119, up by Rs 1. Similarly, the price for 100 grams of silver has increased by Rs 100 and is now Rs 11,900.

As gold and silver prices keep changing based on world events and market conditions, it's important for buyers and investors to stay updated.

Gold And Silver Future Price On MCX:

On the Multi Commodity Exchange (MCX), gold futures that will mature on August 5, 2025, are trading higher by 0.21% and are now priced at Rs 1,15,901. Silver futures, which will expire on September 5, 2025, have dropped by 0.19% and are now trading at Rs 1,00,138.

Gold is considered a safe and dependable investment, especially during times of global tension or when the stock market is unstable. Many people choose to invest in gold to protect their money when other options seem risky.

Disclaimer
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