Gold Prices Drop From Record Highs, April 4: Super News for Bangalore Gold & Silver Buyers! Details Inside

Gold prices in Bangalore today dropped massively after the unstoppable bull run. Gold rates this week have surged by 4.6% as the uncertainty surrounding Donald Trump's Reciprocal tariff had a big impact on the equity market which pushed investors towards the safe haven assets. Hence gold prices jumped to record high and broke previous records. This drop in gold prices comes as a major relief for Bengaluru residents who were looking for a buying opportunity.

On April 4th, the price of 22-carat gold in Bangalore plunged by Rs. 1600 per 10 grams, now costing Rs. 84,000. Meanwhile, 24-carat gold saw a drop of Rs. 1740, bringing its price to Rs. 91,640 per 10 grams. Similarly, 18-carat gold prices decreased by Rs.1310, now priced at Rs 68,730.

For bulk purchases, the decline was even more pronounced. The cost of 100 grams of 22-carat gold now stands at Rs Rs.8,40,000, showing a Rs 16,000 reduction, while 100 grams of 24-carat gold rate has fallen by Rs 17,400, retailing at Rs 9,16,400.

Why Did Gold Prices Fall Today?

Over the past 10 days, gold prices in Bangalore and across India have surged by nearly 5% due to uncertainty surrounding Trump's trade tariffs, which fuelled fears of a trade war. As a result, investors turned to gold as a safe-haven asset.
Currently, gold is priced significantly higher than it was three months ago. However, this recent decline comes as a relief for retail buyers, making gold slightly more affordable. With a surge in weddings expected across India in May and June-especially in cities like Bangalore-demand for gold jewellery is likely to rise as shoppers take advantage of the gold price dip.

Spot gold prices also declined on Friday after U.S. President Donald Trump's tariff announcements, which sparked concerns about a potential economic slowdown. Spot gold slipped but still stayed above USD 3,100 per ounce. Despite the dip today, gold prices hit three record highs this week, as per Reuters.

Gold Prices In Other Major Indian Cities

Here are gold prices in some of the major cities in India which are experiencing a similar drop:

Silver Prices In Bangalore

1 kilogram of silver in Bangalore today slipped by Rs. 4000 and currently stands at Rs. 99,000. Similarly, the price for 100 grams of silver cost Rs. 9,900, which slipped by Rs. 400. White metal prices have dropped for two consecutive days and were stable in the past week.

Gold And Silver Future Price On MCX

Gold futures on the MCX were trading lower this morning. The June 5th maturing gold futures were priced at Rs. 89,636, with a 0.47% decline. Similarly, silver futures, set to mature on May 5, 2025, dropped by 1.59%, trading at Rs. 92,899 on Friday.

Spot Gold And Silver Rates On April 4th

According to a recent report by FXStreet, gold prices are holding steady above $3,100 after a volatile session caused by Trump's tariff announcements. Concerns about a U.S. recession have weakened the U.S. dollar and bond yields, leading markets to expect an interest rate cut from the Federal Reserve in June.
If gold prices continue to rise, they will need to stay above $3,115 to gain momentum. The next key resistance levels are at $3,150 and the all-time high of $3,168. However, if prices drop further, gold could test the week's low of $3,054.