Bangalore Gold Rate Today: There was a dramatic comeback in the prices of 24 carat, 22 karat and 18 karat gold in Bangalore and other Indian cities on Wednesday, December 3. The big climb in gold rates today was mirrored by a surge in silver prices as well.
The spike in the Bangalore gold rate today demonstrates the resurrection of the momentum of precious metal in the local as well as the international market. The poor performance of the Indian rupee and rising foreign exchange rates are other contributing factors to the gold price surge in India. For retail jewelry shoppers in Bangalore who had intended to make a purchase during the current wedding season, the sudden spike has been a significant setback.
The current gold rate in Bangalore
The price of 24 carat gold in Bangalore surged by Rs 71 per gram to Rs 13,058 per gram. Similarly, in Bangalore, the cost of 22 carat gold rose from Rs 65 to Rs 11,970 per gram. In a similar vein, the price of 18 carat gold in Bangalore increased from Rs 53 to Rs 9,794 per gram.
Aksha Kamboj, Vice President of IBJA and Executive Chairperson of Aspect Global Ventures, said that due to unstable foreign currency trends and global market volatility, gold is likely to stay a reliable safeguard against inflation.
Bangalore Silver Rate Today
The price of silver in Bangalore experienced a dramatic spike on Wednesday. The price of silver in Bangalore increased to Rs 191 per gram today and Rs 1,91,000 per kilogram on December 3. The spike in silver prices has occurred against the background of strong industrial demand and supply-side limitations.
Days after the metal saw some adjustment, silver prices have sharply increased. The white metal is still a desirable investment option in the long run. “While short-term volatility is inevitable, silver continues to maintain long-term appeal as both an industrial metal and a store of wealth. This might be a wise starting point for anyone with a medium- to long-term view, Kamboj said.
