Bangalore gold rate today is again on the upside, building on yesterday’s gains as the US dollar retreated after fresh tariff announcements by US President Donald Trump. The weakening dollar has supported bullion prices globally, pushing gold to nearly a one-month high.
On February 23rd, 24-carat gold prices in Bangalore surged by Rs. 2070 per 10 grams, reaching Rs.1,61,350. Similarly, 22-carat gold prices have increased by Rs 1900 per 10 grams, now costing Rs. 1,47,900. The 18-carat gold rate has also risen by Rs 1,550 per 10 grams, reaching Rs 1,21,010.
For those purchasing in bulk, 100 grams of 24-carat gold in Bangalore is now at Rs 16,13,500, an increase of Rs. 20,700. Similarly, the price of 100 grams of 22-carat gold in Bengaluru jumped by 19,000 and is now available at Rs. 14,79,00.
Yellow Metal Gains Momentum
After a recent slump, gold and silver prices are currently consolidating. Last week seemed fairly positive as gold gained after Trump’s tariff uncertainty and the ongoing US-Iran tensions, which spiked the gold prices internationally.
As per the IBJA Bullion report, “Gold advanced as the dollar slid, with investors weighing the White House’s next steps on tariffs after the US Supreme Court struck down President Donald Trump’s sweeping global tariffs. The Supreme Court said Trump exceeded his authority by invoking a federal emergency powers law to impose his “reciprocal” tariffs across the globe, as well as targeted import taxes.”
Gold prices are finding support as the US dollar weakens after a long rally. However, strong economic data from the US has raised concerns about the Federal Reserve’s future rate cut decisions, which could further impact gold prices in both the domestic and international markets.
“Gold and silver prices are trading higher today on the international bourses. We expect precious metals prices on Indian bourses to trade range-bound to higher for the day; gold and silver prices rose as uncertainty over what would happen to trade deals negotiated with the US, after the Supreme Court restrained President Donald Trump’s tariff powers, unsettled markets.” The report furthre stated
Gold Prices In Other Major Indian Cities
Here are gold prices in some of the metropolitan cities in India:
| Cities | 24 carat | 22 carat |
|---|---|---|
| Delhi | Rs. 1,61,500 | Rs. 1,48,050 |
| Mumbai | Rs. 1,61,350 | Rs. 1,47,900 |
| Chennai | Rs. 1,62,110 | Rs. 1,48,600 |
| Kolkata | Rs. 1,61,350 | Rs. 1,47,900 |
Silver Prices in Bangalore on Feb 23rd
Silver is currently shining as the prices have risen for the third consecutive time. 1 kilogram of silver in Bangalore rose by Rs. 25,000 to cost Rs. 3,00,000. Similarly, the price for 100 grams of silver experienced a significant increase of Rs. 2500 to reach Rs. 30,000.
Gold And Silver Future Price On MCX
On the Multi Commodity Exchange (MCX), the gold futures for April 4th delivery are also up by 1.89%, currently at Rs.1,59,840 per 10 grams. Similarly, silver futures for the March 5th expiry are trading in green, up by 5.12%, trading at Rs. 2,65,900 per Kg.
Spot Gold and Silver Rates in the Global Market
As per the latest report by Reuters, “Spot gold climbed 1.1% to $5,161.64 per ounce by 0419 GMT, earlier hitting its highest since January 30. U.S. gold futures for April delivery were up 2% at $5,183. Spot silver climbed 3.1% to $87.20 per ounce, a more than two-week high. Spot silver climbed 3.1% to $87.20 per ounce.”
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