Bangalore Gold Rate Today, May 14: Gold Prices Surge, Silver Crashes ₹10,000 Per Kg After Duty Hike Shock

Gold prices in Bengaluru witnessed a sharp rise on May 14 while silver rates declined, even as India moves to curb gold purchases amid ongoing geopolitical tensions in the Middle East. The Centre recently raised import duties on gold and silver from 6% to 15% in a bid to rein in rising precious metal imports and contain pressure on India's foreign exchange reserves as the West Asia crisis continues to fuel global market uncertainty.

The price of 24 karat gold in Bengaluru rose by ₹33 per gram to ₹16,233, while 22 karat gold gained ₹30 to ₹14,880 per gram. Meanwhile, 18 karat gold climbed ₹25 to ₹12,175 per gram. The uptick in gold prices reflects sustained safe-haven demand as investors continue to monitor geopolitical risks and global macroeconomic signals.

Silver, however, moved in the opposite direction despite gold's rally. Silver is currently priced at ₹300 per gram and ₹3,00,000 per kilogram, marking a sharp decline of ₹10 per gram and ₹10,000 per kilogram compared to Wednesday's rates. The fall comes after silver had posted strong gains in the previous trading session.

The divergence between gold and silver prices was also visible on the Multi Commodity Exchange (MCX). After witnessing significant gains on Wednesday, bullion contracts opened lower on Thursday as concerns over rising imports and geopolitical instability weighed on sentiment. At around 9 am on May 14, the MCX gold July futures contract slipped 0.13% to ₹1,61,344 per 10 grams, while MCX silver June futures declined 0.92% to ₹2,97,485 per kilogram.

Market analysts say gold continues to remain volatile as investors closely track global economic uncertainty, central bank policies, and international conflicts. Bengaluru, being one of India's key metro markets for jewellery demand and investment purchases, usually mirrors national bullion trends with slight local variations due to taxes and logistics.