Gold prices in Bangalore surged on Thursday, November 5, 2026, following a rally in international markets after the US midterm election results. The Democrats' victory in both the Senate and House of Representatives led to a weaker US dollar and lower Treasury yields, boosting demand for gold. In Bangalore, 24-karat gold prices climbed by ₹2,490, or 1.73%, to ₹1,46,120 per 10 grams, while silver rates increased by ₹2,810, or 1.49%, to ₹1,90,830 per kg.
The rise in gold prices comes ahead of Dhanteras, a key festival for jewelry purchases in India. Spot gold globally hit its highest level since October 22, climbing 1.9% to $4,134.83 per ounce. US gold futures for December delivery also advanced 1.8% to $4,144.20 per ounce. On the Multi Commodity Exchange (MCX), gold futures rose by 1.78% to ₹1,45,780 per 10 grams, and silver futures gained 1.42% to ₹1,90,393 per kg.
In Bangalore, gold is available in various purities, with 24-karat being the purest and 22-karat commonly used for jewelry. Prices for 22-karat gold stood at ₹133,943 per 10 grams, while 20-karat and 18-karat gold were priced at ₹121,767 and ₹109,590 per 10 grams, respectively. Silver prices varied by purity, with 999 fine silver at ₹190,830 per kg and 925 sterling silver at ₹176,518 per kg.
With Dhanteras approaching on November 6, buyers are advised to compare rates across jewellers, considering making charges and other costs before making purchases. Gold and silver prices may vary across locations and jewellers, so it's essential to check the latest rates before buying.