BIG Fall In Gold Rate Today, 29 July, Bangalore: 24K, 22K, 18K Fall for 2nd Day Ahead of US Fed Decision

Bangalore Gold Rate Today

The price of 24-karat gold in Bangalore declined by Rs 66 per gram to Rs 14,351 per gram, as per Goodreturns data at 1 pm on Wednesday, July 29. The rate of 22-karat gold in Bangalore fell by Rs 60 per gram to Rs 13,155 per gram. Likewise, 18-karat gold in Bangalore became cheaper by Rs 50 per gram to Rs 10,763 per gram.

Bangalore Silver Rate Today

The price of silver in Bangalore remained stable on Wednesday. Silver rate today in Bangalore stood at Rs 235 per gram and at Rs 2,35,000 per kilogram on July 29. Unlike, gold, silver price in Bangalore and across India are showcasing range-bound movement over the past few weeks. However, the white metal saw sharp swings in January and February.

International Gold Rate Today

The international gold price today saw marginal decline as investors remained cautious ahead of the US Federal Reserve meeting announcement. Meanwhile, crude oil price rally due to rising West Asia crisis further weighed on gold prices. International gold rate today fell to $ 4,020 per ounce, as per Trading Economics data.

"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," explained Pranav Koomar, Founder and CEO, PlusCash.

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