Bangalore Gold Rate Today, May 18: Gold Prices Falls Sharply After UAE Nuclear Plant Attack Sparks Oil Surge

Gold prices in Bangalore on May 18, 2026 slipped to their lowest levels in over one-and-a-half months as rising crude oil prices, escalating Middle East tensions and fears of tighter global monetary policy weighed heavily on bullion markets.

The weakness in gold prices comes amid growing geopolitical uncertainty after reports emerged of an attack on a nuclear power plant in the United Arab Emirates, intensifying concerns over instability across the region. Investor sentiment was further shaken by reports that Donald Trump is expected to discuss possible military options against Iran with senior US national security advisers.

Global energy markets have remained volatile ever since the United States and Israel launched joint strikes on Iran on February 28. In response, Tehran tightened control over the strategically crucial Strait of Hormuz, through which nearly 20% of global energy supplies pass.

As crude oil prices surged more than 2%, investors moved cautiously in precious metals markets, leading to a decline in domestic gold prices across India, including Bengaluru.

Today's Gold Rates In Bengaluru

Today's gold price in Bengaluru stands at ₹15,622 per gram for 24 karat gold, down by ₹71 from yesterday's ₹15,693. Meanwhile, 22 karat gold is priced at ₹14,320 per gram, witnessing a fall of ₹65, while 18 karat gold slipped ₹53 to retail at ₹11,717 per gram.

For larger purchases, 10 grams of 24K gold in Bengaluru now costs ₹1,56,220 compared to ₹1,56,930 on May 17. Similarly, 10 grams of 22K gold is priced at ₹1,43,200, down from ₹1,43,850 yesterday. The rate for 10 grams of 18K gold has also declined to ₹1,17,170.

Why Gold Prices Are Falling

Analysts say bullion markets remain under pressure because rising crude oil prices could fuel inflation globally, increasing expectations that major central banks may continue maintaining tighter interest rates. Gold traditionally loses appeal during high-interest-rate periods because the metal does not offer fixed returns or interest income.

Investors are also closely watching developments at the Federal Reserve, alongside the evolving geopolitical situation involving Iran, Israel and the US.

India Tightens Precious Metal Import Rules

Meanwhile, India has tightened restrictions on precious metal imports in a bid to reduce foreign exchange outflows amid rising crude oil costs and global uncertainty. Just days after increasing import duties on gold and silver from 6% to 15%, the government shifted silver imports into the "restricted" category, meaning imports will now require government licences.

In a notification, the Directorate General of Foreign Trade stated that silver, including silver plated with gold or platinum, would now face stricter import controls with immediate effect.

Silver Prices Jump In Bengaluru

While gold prices declined in Bengaluru, silver rates witnessed a sharp jump, continuing the strong rally seen in precious metals over the past few months.

The price of silver in Bengaluru today stands at ₹290 per gram, up by ₹10 from yesterday's ₹280. Meanwhile, silver prices per kilogram surged by ₹10,000 in a single day, taking the rate to ₹2,90,000 per kg from the previous ₹2,80,000.

For smaller quantities, 10 grams of silver is now priced at ₹2,900 compared to ₹2,800 on May 17, while 100 grams costs ₹29,000 after increasing by ₹1,000.

Market analysts say movements in the rupee against the US dollar, fluctuations in crude oil prices and broader global economic developments will continue influencing bullion prices in the coming days. Jewellers have advised buyers to closely monitor daily market movements before making major purchases amid ongoing volatility in international commodity markets.

The above rates are indicative and do not include GST, TCS and making charges, which may vary across jewellery stores.