Bangalore Gold Rate Today Takes U-Turn! 24K, 22K, and 18K Gold Jumps After 2-Day Decline

Bangalore Gold Rate Today

The price of 24-karat gold in Bangalore increased by Rs 82 per gram to Rs 14,433 per gram today, as per Goodreturns data at 11 am on Thursday, July 30. The rate of 22-karat gold in Bangalore surged by Rs 75 per gram to Rs 13,230 per gram. Likewise, the rate of 18-karat gold in the Karnataka capital increased by Rs 62 per gram to Rs 10,825 per gram.

Bangalore Silver Rate Today

The price of silver in Bangalore surged to Rs 235 per gram and to Rs 2,35,000 per kilogram on Thursday. Silver price today remained unchanged despite range-bound movement in gold prices.

International Gold Price Today

The international gold price on Thursday remained steady and close to $ 4050 per ounce on Thursday. This came after the price surged from the previous session. The Federal Reserve left interest rates unchanged despite mounting inflationary pressures stemming from renewed conflict in the Middle East.

The US Federal Reserve kept interest rates unchanged, amid concerns around rising inflationary pressures, which offered some support to bullion. Higher interest rates tend to weigh on demand for non-yield assets.

"GOLD is consolidating itself in a positive way after its latest rally as expectations about the Fed's policy stance, USD, and geopolitical events are being reassessed. In spite of the volatility that could persist for some time now in the short term, gold is still expected to perform positively going forward, backed by continuous purchase from central banks, strong investment demand, and its safe-haven status. Near-term corrections, if any, will be seen as buying opportunity for the metal, as the medium- to long-term trend remains favorable as well," stated Pranav Koomar, Founder and CEO, PlusCash.

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