BIG Fall In Bangalore Gold Rate Today! 24K Down Below Rs 1.57 Lakh/10 Gm | Check Rates

Bangalore Gold Rate Today: The price of 24 karat, 22 karat, and 18 karat gold in Bangalore saw a sharp decline on Monday, August 31, after the precious metal saw a decent surge at the beginning of the month. The recent decline in gold rates today in Bangalore was in synchronisation with a wider weakness prevailing across the international commodity market.

For retail investors and gold jewellery buyers who closely track gold prices in the metro city, here are the latest rates.

Bangalore Gold Rate Today

The price of 24 karat gold in Bangalore fell nearly Rs 147 per gram to Rs 15,677 per gram, as per Goodreturns data at 12 pm on Monday. The rate of 22 karat gold in Bangalore declined by Rs 135 per gram to Rs 14,370 per gram. The rate of 18 karat gold in the metro city slipped by Rs 83 per gram to Rs 11,785 per gram.

Bangalore Silver Rate Today

The price of silver in Bangalore remained stable on Monday despite a significant decline in gold prices. Silver rate today in Bangalore stood at Rs 255 per gram and at Rs 2,55,000 per kilogram. Silver price in the metro city remained stable on Monday, but saw wild fluctuations in January and February this year.

International Gold Rate Today

International gold price on Monday declined to $ 4,450 per ounce, as per Trading Economics data. The recent decline in international gold prices extended its sharp drop in the previous session as hawkish remarks from Federal Reserve Chair Kevin Warsh has revived expectations for an imminent interest rate hike.

"Gold and silver remained under pressure after Fed Chair Kevin Warsh's hawkish Jackson Hole comments increased expectations of a September rate hike. Higher U.S. yields and a firmer dollar are weighing on non-yielding precious metals, with gold extending its recent correction. Meanwhile, WTI crude surged above $85/bbl as escalating U.S.-Iran tensions and risks around the Strait of Hormuz raised concerns over global oil supply. The rise in crude is also adding to inflation and currency pressures," stated Gaurav Garg, Head - Research, Lemonn.

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