Bangalore Gold Rate Today Makes Sharp Rebound! 24K Jumps Rs 22,900/100 Gm After FOMC Minutes | 19 Feb

Bangalore Gold Rate Today: Gold prices in Bengaluru staged a sharp rebound on Thursday, February 19, with rates of 24-karat, 22-karat and 18-karat gold moving higher during the session. Silver prices in the city also witnessed a strong recovery. The uptick in precious metal rates reflects improved sentiment in both domestic and international markets, supporting renewed buying interest.

Sharp rebound in gold and silver rates today comes a day after the Federal Open Market Committee (FOMC) Minutes released on Wednesday. The FOMC Minutes of the central bank's Jan. 27-28 policy meeting, hinted that Fed is shifting further away from agreeing on another cut. The development is likely to impact investors' sentiment towards gold and silver.

Back in Bangalore, the surge in gold rate today has wiped out expectations of further decline in the near-term.

Bangalore Gold Rate Today

The price of 24 karat gold in Bangalore jumped by Rs 229 per gram to Rs 15,649 per gram. Which means, the rate of per 100 grams of gold in Bangalore surged close to Rs 22,900 to Rs 15,64,900 on Thursday. The rate of 22 karat gold in Bangalore surged by Rs 210 per gram to Rs 14,345 per gram. The rate of 18 karat gold in Bangalore increased by Rs 172 per gram to Rs 11,737 per gram.

"The precious metal seems to be finding its support levels as buyers start trickling in at lower prices. Although markets remain cautious in the short term, the underlying safe-haven demand continues to support gold, which may indicate a possible consolidation phase before making another attempt at a directional move," noted Aksha Kamboj, Vice President, India Bullion & Jewellers Association (IBJA) and Executive Chairperson, Aspect Global Ventures.

Bangalore Silver Rate Today

The rate of silver in Bangalore jumped by Rs 15 per gram to Rs 270 per gram on Thursday, February 19. Bangalore gold rate on Thursday stood at Rs 2.7 lakh per kilogram on Feb 19. "Silver is experiencing a weak recovery from the lows as volatility starts to reduce. The recovery is a result of selective buying following the sharp correction, which is driven by improving industrial sentiment. Although price volatility may continue, silver appears to be stabilising, with traders closely monitoring global markets for any signs of sustained momentum," stated Aksha Kamboj.

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