Bangalore Gold Rate Today Nears Rs 1.56 Lakh/10 Gm; What Should Jewellery Buyers Do Now?

Bangalore Gold Rate Today: The price of 24 karat, 22 karat and 18 karat gold in Bangalore continued to rise for the fourth consecutive day on Tuesday, August 18. The recent uptick in gold prices came amid overall bullish sentiment prevailing across the precious metals market in India and across the world. Meanwhile, silver rate today in the city remained stable.

Bangalore gold rate is closely tracked by the city residents planning to purchase gold articles, high net worth individuals and more. Here are all the details about gold rate today in Karnataka capital.

Bangalore Gold Rate Today

The price of 24 karat gold in Bangalore increased by Rs 23 per gram to Rs 15,589 per gram on Tuesday, as per Goodreturns data at 12 pm. The rate of 22 karat gold in the Karnataka capital surged by Rs 20 per gram to Rs 14,290 per gram. Likewise, the price of 18 karat gold in Bangalore increased by Rs 16 per gram to Rs 11,692 per gram.

Bangalore Silver Rate Today

The price of silver in the city, remained unchange at Rs 250 per gram and at Rs 2,50,000 per kilogram on Tuesday. The stability in silver prices is in line with the white metal's range-bound movement over the past few months. However, silver witnessed sharp volatility earlier this year, surging past the Rs 4 lakh per kg mark in January before falling below Rs 3 lakh per kg in February.

International Gold Rate Today

International gold price stood below $ 4,400 per ounce on Tuesday, as per Trading Economics data. The bullion erased earlier gains on Tuesday amid a broad pullback across the metals market as investors booked profits after its sharp rally. The recent decline in international gold prices came amid pressure from crude oil price rally, and concerns around inflation.

Fresh volatility in crude oil prices came after United States President Donald Trump said that he is not interested in extending the interim peace deal with Iran. Gold continued to find support from fading expectations of another rate hike by the US Federal Reserve.

Gold-Silver Allocation Strategy

Investors and gold jewellery buyers can invest in the yellow metal whenever there is any price correction. "For investors seeking diversified exposure to precious metals, we prefer a strategic allocation with a higher weight to gold, given its stability and defensive characteristics, complemented by silver's long-term growth potential. A 70:30 allocation between gold and silver may be considered as a broad strategic framework," stated Tata Mutual Fund in its report.