Bangalore Gold Rate Today, May 12: IBJA Prices Stay Firm Despite PM Modi’s No Gold Purchase Appeal

Gold prices in Bangalore remained elevated on May 12 despite pressure on bullion markets after Prime Minister Narendra Modi urged citizens to defer non-essential gold purchases for a year to help protect India's external balances. Fresh uncertainty surrounding US-Iran negotiations and rising crude oil prices also kept global markets volatile, analysts told PTI.

According to the Bullions website, the gold rate in India today stands at Rs 1,54,330 per 10 grams, while silver prices are hovering around Rs 2,78,690 per kg. In the international market, spot gold slipped 0.1% to $4,728.29 an ounce as of 9:46 a.m. in Singapore, while silver edged down 0.1% to $85.94, according to Bloomberg. MCX gold prices also remained in focus as investors tracked geopolitical developments and commodity market fluctuations.

Among southern metros, Bengaluru continues to remain one of the costliest bullion markets in the country. The latest gold rate in Bangalore today is Rs 1,54,170 per 10 grams for 24-carat gold, while silver prices in the city are currently around Rs 2,78,410 per kg. Chennai leads the metro markets at Rs 1,54,500 per 10 grams, followed by Hyderabad at Rs 1,54,290.

The latest benchmark rates released by the India Bullion and Jewellers Association (IBJA) also reflected firm pricing across purity categories on May 12. According to IBJA data, 999 purity gold is currently priced at Rs 15,195 per gram, while 995 purity gold stands at Rs 15,135 per gram. The widely purchased 916 purity category, commonly associated with 22-carat jewellery, is retailing at Rs 13,919 per gram. Meanwhile, 750 purity gold is priced at Rs 11,397 per gram, while 585 purity gold is trading at Rs 8,889 per gram.

Across other major cities, Mumbai is retailing 24-carat gold at Rs 1,54,050 per 10 grams, while Delhi's gold rate stands at Rs 1,53,780. Kolkata is reporting gold prices at Rs 1,53,840 per 10 grams.

Silver prices also remained elevated across the country. Mumbai silver rates are currently around Rs 2,78,190 per kg, while Delhi is reporting silver prices at Rs 2,77,710 per kg. Chennai and Hyderabad are trading silver at approximately Rs 2,79,000 and Rs 2,78,630 per kg respectively.