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Bengaluru Shoppers Face Gold Price Volatility This Akshaya Tritiya
19 Apr
Summary
- Gold and silver prices in Bengaluru are unstable ahead of Akshaya Tritiya.
- Geopolitical uncertainty is driving fluctuations in global markets.
- Buyers face higher entry levels due to recent price surges.
Gold and silver prices in Bengaluru are fluctuating significantly as Akshaya Tritiya approaches, causing unease among shoppers. This instability is largely attributed to global market uncertainty stemming from the ongoing Israel-US conflict with Iran.
Buyers who had anticipated a dip in prices before the festival are now confronted with elevated entry levels. Benchmark rates indicate a stable range for gold, with 24-carat gold priced at ₹15,166 per gram, 22-carat at ₹13,892, and 18-carat at ₹11,374, though retail prices are higher after taxes and making charges.
Despite these fluctuations, demand in Bengaluru remains steady, with gold prices reaching around ₹1.45 lakh per 10 grams. Silver has also seen sharp movements, reflecting global volatility. Investors are closely watching geopolitical developments and inflation concerns, viewing gold as a safe-haven asset.
Jewellers are advising caution, suggesting buyers consider spreading their purchases or opting for lighter pieces due to recent price climbs. The current price movements underscore gold and silver's dual role as cultural and financial assets in Indian households.
