Gold Rate Today in Bangalore, Sept 23: 24K, 22K, 18K Gold Rates Rally; Check Latest Gold and Silver Prices

Gold prices in Bangalore surged on Wednesday, September 23, with 24-carat gold rising Rs. 930 to Rs.1,63,310 per 10 grams.

The rally in gold prices in India is due to volatility in the global bullion markets, where gold has faced pressure from expectations of higher US interest rates and a stronger dollar. International spot gold declined on Tuesday as traders are now assessing the Federal Reserve's rate outlook, while silver also slipped.

Gold Price in Bangalore on September 23rd

As of today, gold rates in Bangalore extended a rally, with 22-carat gold rising to Rs. 1,49,700 per 10 grams, reporting gains of Rs. 850. Similarly, the pure 24-carat gold rates in Bangalore per 10 grams spiked by Rs. 930 to cost Rs. 1,63,310. Just like that, 18-carat gold pieces also rose by Rs. 690 per 10 grams to cost Rs. 1,22,480.

The 22-carat gold rate per 100 grams rose by Rs. 8500, bringing the prices to Rs. Rs.14,97,000. In a similar manner, the 24-carat gold per 100 grams surged by Rs. 9300 to retail at Rs. 16,33,100.

Silver Prices in Bangalore

Bangalore silver prices today stayed steady at previous day's level. Currently, the price of 1 kilogram of silver stands at Rs. 2,90,000 per kg while 100 grams of silver is priced at Rs. 29,000 per 10 grams.

Gold And Silver Future Price On MCX

On the Multi Commodity Exchange (MCX), the gold futures for April 2nd delivery are trading lower by 0.37%, at Rs. 1,62,700 per 10 grams. Similarly, the silver futures for the May 5th expiry are currently trading lower by 1.07%, trading at Rs.2,74,855 per kg.

Gold & Silver Price Analysis and Target Ahead

Indian bullion investors enter Wednesday with gold consolidating while silver retains stronger momentum. On MCX, October gold settled at Rs. 1,52,716 per 10 grams on Tuesday, down 0.25%. December silver closed 0.24% higher at Rs. 2,39,888 per kg.

The weekly picture is more revealing. Gold has gained 1.26% since September 15. Silver has advanced 3.35%. Silver's outperformance reflects stronger momentum, but investors should recognise the additional risk. Tuesday's silver contract moved across a range of almost Rs. 4,840 per kg. Gold is facing pressure from elevated interest rates.

The US Federal Reserve raised its policy rate to 3.75-4% last week. Its projections leave room for another increase this year. Higher yields can limit demand for non-interest-bearing bullion. Geopolitical uncertainty continues to provide underlying support.

For Wednesday, gold has immediate support near Rs. 1,51,500. The next important level is Rs. 1,50,000. Resistance is visible around Rs. 1,53,500, followed by Rs. 1,54,600. Silver has support near Rs. 2,35,500-Rs. 2,36,000. A sustained move above Rs. 2,40,500 could open the way towards Rs. 2,43,000.

Spot Gold and Silver Prices Today

As per the Trading Economics, "Spot gold was down 0.43% at $4345.19 per ​ounce, as of today. Spot Silver fell 0.55% to currently trade at $66.7 per ounce.

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