Gold hits new high, 10 grams of 24-carat touches Rs 1 lakh in Karnataka
Bengaluru: Gold prices in Karnataka have surged to a historic high, with ten grams of 24-carat gold crossing the Rs 1 lakh mark in Bengaluru. Market insiders opined that the trend is likely to continue upward.
As of Monday morning, gold was priced at Rs 10,200 per gram for 24-carat and Rs 9,285 for 22-carat in Bengaluru, excluding GST and additional charges such as making and wastage, as reported by The New Indian Express.
The steep rise comes ahead of Akshaya Tritiya, which falls on April 30 this year, a day considered highly auspicious for purchasing gold and silver.
“The rate of gold is escalating due to prevailing global uncertainty and the US dollar’s continued slide. Historically, gold has been a safe investment. It allows for easy liquidation—no other medium offers that kind of leverage,” TNIE quoted Suresh Kumar Ganna, former president of The Jewellers’ Association, Bengaluru as saying.
He added that in just four months, the price of gold, which was around Rs 75,000 for 10gm, has jumped by over Rs 25,000.
Dinesh Pagaria, Managing Director of JJJ Jewellers Private Limited, noted that gold prices have nearly tripled in six years. “Ten grams of 24-carat gold was within Rs 35,000 in 2019. Now, in 2025, the rate has tripled, standing at around Rs 1,03,000 lakh, excluding GST and other charges,” TNIE quoted Pagaria as saying.
Explaining the recent spike, Pagaria said that they are hearing from gold traders that China is aggressively buying gold and increasing their gold reserves. “They are converting their dollar reserves into gold,” he said.
He described gold as the “only trustworthy global currency,” predicting that prices could jump another 25 percent within the year.
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Dakshina Kannada Qazi declares Eid-Ul-Adha celebration on May 28
Bengaluru: The State Moon Sighting Committee has announced that Bakrid (Eid al-Adha) will be celebrated across Karnataka on May 28, as there were no confirmed reports of the sighting of the crescent moon marking the beginning of the month of Dhul Hijjah from any state in the country.
The decision was taken at a meeting of the committee held on Sunday evening at the office of the Karnataka State Waqf Board on Cunningham Road in Bengaluru.
Committee members said the announcement was made after gathering information regarding moon sighting from various districts of Karnataka as well as moon sighting committees in other states.
Dakshina Kannada Qazi Al-Haj Twaka Ahmed Musliar also made similar announcement adding that Eid-Ul-Adha will be celebrated on May 28 in Dakshina Kannada district.
