Bangalore Gold Rate Today Jumps After Sharp Fall; Check 24K, 22K, 18K Prices On September 1

Bangalore Gold Rate Today: The price of 24 karat, 22 karat and 18 karat gold in Bangalore saw mild uptick on Tuesday, September 1, after seeing sharp decline over the past one week. The recent surge in gold prices in Karnataka capital came as international gold prices hovered close to their two-week low mark.

For investors who closely track gold prices in Bangalore, here are all the details about the same.

Bangalore Gold Rate Today

The price of 24 karat gold in Bangalore surged by Rs 16 per gram to Rs 15,693 per gram, as per Goodreturns data at 10:25 am on Tuesday, September 1. The rate of 22 karat gold in Bangalore jumped by Rs 15 per gram to Rs 14,385 per gram. Likewise, the rate of 18 karat gold in the metro city surged by Rs 15 per gram to Rs 11,773 per gram.

Bangalore Silver Rate Today

In contradiction to upward move in gold prices, silver rate today in Bangalore declined after showcasing range bound movement over the past few days. Silver rate in Bangalore declined to Rs 250 per gram and to Rs 2,50,000 per kilogram.

International Gold Price Today

The International gold price hovered close to $ 4,450 per ounce, as per Trading Economics data on Tuesday. The recent decline in international gold price came as rising crude oil prices and hawkish commentary from Federal Reserve Chair Kevin Warsh raised expectations of US rate hike this month.

Crude oil price surged significantly amid renewed tensions in the West Asia after US forces struck an island in the Strait of Hormuz. Iran retaliated to the strike by attacking on the UAE and Jordan.

"The rise in crude is also adding to inflation and currency pressures. U.S. Macro Cue: Markets are now pricing a significantly higher probability of a September Fed rate hike, with odds near 60% after Warsh's comments. Higher-for-longer rates could keep the dollar and Treasury yields elevated, creating near-term headwinds for gold and silver; meanwhile, elevated oil prices could add further inflation pressure," stated Gaurav Garg, Head - Research, Lemonn.

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