Sharp Rs 270 fall in a day fuels buying frenzy, silver prices edge higher as markets witness mixed trends across India
Bengaluru: In a major relief for gold buyers, prices of the yellow metal have continued their downward trend, triggering a surge in demand across jewellery stores in Bengaluru. The sudden dip has brought cheer among consumers, especially women, who are now rushing to make purchases after weeks of high rates.
On Tuesday, gold prices witnessed a significant drop of Rs 270 in a single day, intensifying buying activity in local markets. The price of 22-carat gold in the city has now fallen to Rs 12,865 per gram, making it an attractive opportunity for investors and jewellery buyers alike.
Gold Rates Decline Across India
Across India, the price of 10 grams of 22-carat gold currently stands at Rs 1,28,650, while 24-carat gold (Aparanji) is priced at Rs 1,40,350. The per gram rates are recorded at Rs 14,035 for 24-carat, Rs 12,865 for 22-carat, and Rs 10,526 for 18-carat gold.
City-Wise Gold Prices (22 Carat per gram)
Gold prices remain largely uniform across major cities, with slight variations:
- Bengaluru: Rs 12,865
- Chennai: Rs 13,000
- Mumbai: Rs 12,865
- Delhi: Rs 12,880
- Kolkata: Rs 12,865
- Kerala: Rs 12,865
Other cities like Ahmedabad, Jaipur, Lucknow, and Bhubaneswar are also witnessing similar pricing trends.
Silver Prices Rise Slightly
While gold prices are declining, silver has shown a marginal upward trend. The price of silver has increased by Rs 5, taking the rate to Rs 235 per gram and Rs 23,500 per 100 grams in Bengaluru. Cities like Chennai and Kerala are witnessing slightly higher silver prices at Rs 240 per gram.
International Gold Rates Comparison
Globally, gold prices show slight fluctuations:
- Malaysia: Rs 12,858 (per gram equivalent)
- Dubai: Rs 12,732
- United States: Rs 13,138
- Singapore: Rs 12,600
- Qatar: Rs 12,801
- Saudi Arabia: Rs 12,679
- Oman: Rs 12,996
- Kuwait: Rs 12,432
Buying Sentiment Surges
The continued fall in gold prices has reignited consumer interest, with jewellers reporting increased footfall. Many buyers who had postponed purchases due to high rates are now entering the market, anticipating further fluctuations.
Note: Prices mentioned are indicative and sourced from leading jewellers. Actual rates may vary due to GST, making charges, and regional differences.
