Gold prices in Bangalore rose on Wednesday, May 20, amid volatility in global bullion markets, elevated crude oil prices and continued geopolitical tensions in West Asia.
According to the latest rates, 24 karat gold in Bangalore was priced at Rs 15,835 per gram, while 22 karat gold stood at Rs 14,515 per gram. The 18 karat gold rate in Bangalore was recorded at Rs 11,876 per gram.
Domestic gold prices moved higher despite weakness in international gold futures during early European trading. Analysts said rising US Treasury yields and a stronger US dollar have pressured global bullion prices, while concerns over inflation linked to higher oil prices continue to influence market sentiment.
Investors are also awaiting the US Federal Reserve meeting minutes later on Wednesday for more clarity on the interest rate outlook and future monetary policy direction.
Gold rate today in Bangalore
| Gold Type | Price Today |
|---|---|
| 24K Gold per gram | Rs 15,835 |
| 22K Gold per gram | Rs 14,515 |
| 18K Gold per gram | Rs 11,876 |
22K gold price in Bangalore today
| Quantity | Today Price |
|---|---|
| 1 gram | Rs 14,515 |
| 8 gram | Rs 1,16,120 |
| 10 gram | Rs 1,45,150 |
| 100 gram | Rs 14,51,500 |
What is affecting gold prices today
Gold prices are currently being influenced by multiple global factors including crude oil prices, US bond yields, inflation expectations and geopolitical developments.
Higher oil prices due to the Iran conflict have increased inflation concerns globally, while rising Treasury yields have added pressure on bullion markets.
Analysts said gold prices may remain volatile in the near term as traders react to Federal Reserve commentary, global energy markets and geopolitical developments.
Disclaimer: Gold prices mentioned above are indicative and may vary across jewellers due to local taxes, making charges and transportation costs.