Gold Rate Today in Bangalore Takes U-Turn! 24K Gold Falls After Rs 21,800/100 Gm After 3-Day Rally

Bangalore Gold Rate Today

The price of 24-karat, 22-karat, and 18-karat gold in Bangalore saw a steep decline on Friday. The rate of 24-karat gold in Bangalore fell by Rs 185 per gram to Rs 14,433 per gram, as per Goodreturns data at 11:50 pm on Friday, July 24. Considering its decline in the second half of Thursday, 24K gold rate in Bangalore has declined close to Rs 218 per gram over the last two days. This means 24-karat gold has fallen nearly Rs 21,800 per 100 gram in two days.

The rate of 22 karat gold in Bangalore has declined close to Rs 170 per gram to Rs 13,230 per gram. The rate of 18 karat gold in Bangalore has decreased gy Rs 139 per gram to Rs 10,825 per gram.

Bangalore Silver Rate Today

The price of silver in Bangalore declined marginally on Friday. As per GR data, silver rate today in Karnataka capital fell to Rs 235 per gram and to Rs 2,35,000 per kilogram. Silver prices saw sharp surge in January followed by steep crash in February.

International Gold Rate Today

International gold price today fell to $ 4,030 per ounce on Friday, as per Trading Economics data. The recent downward pressure in international gold prices came as crude oil prices rallied due to fresh tensions in the Middle East and expectations of a tighter monetary policy. Meanwhile, US President Donald Trump has warned of stricter actions against Iran and even vowed to hold Tehran accountable for Houthi attacks.

What Should Buyers Do?

Gold jewellery buyers and investors can take the benefit of the situation and opt for 'Buy on dips' strategy, as per experts. " Despite the challenging interest rate backdrop, gold continued to attract dip-buying, with investors rebuilding long positions and increasing inflows into gold-backed exchange-traded funds as a hedge against geopolitical uncertainty and stretched equity market valuations. Market participants will now closely monitor developments in the Middle East and the upcoming Federal Reserve meeting for further direction on bullion prices," explained Manav Modi Commodities Analyst, Motilal Oswal Financial Services Ltd.