Gold prices in Bangalore have witnessed a sharp and relentless rally over the past three sessions, breaking out after weeks of price correction across the precious metals market. The upward movement has caught the attention of lakhs of high-net-worth individuals, retail jewellery buyers, and investors who closely track bullion trends in Karnataka's capital. While the yellow metal has marched higher for three consecutive days, the price of silver in the city remained completely unchanged on Monday.
Breakdown of Gold Rates by Purity
The price surge on Monday, August 17, affected 24-karat, 22-karat, and 18-karat gold across Bangalore. According to market data from 12:20 pm, 24-karat gold surged by Rs 53 per gram to reach Rs 15,566 per gram. Meanwhile, the price of 22-karat gold increased by Rs 50 per gram, settling at Rs 14,270 per gram. In addition, 18-karat gold recorded an upward movement of Rs 41 per gram, taking its price to Rs 11,676 per gram.
Silver Prices Remain Range-Bound
In contrast to the continuous gains seen in gold, the silver market in Bangalore experienced a flat session on Monday. Silver rate today in the city stood firmly at Rs 250 per gram, translating to Rs 2,50,000 per kilogram. This steady performance follows a period of range-bound movement over the past few months, which came in the wake of sharp volatility witnessed in January.
Global Cues and International Bullion Surge
The domestic rally in Bangalore mirrors broader global trends, as bullion prices in the international market extended their gains on Monday. International gold rates climbed to $4,400 per ounce, supported by Trading Economics data. The global upward momentum has been heavily influenced by subdued US economic data and scaling back of expectations for an imminent interest rate hike by the Federal Reserve.
Expert Insights on Market Momentum
Analyzing the current trajectory, Karthick Jonagadla, smallcase manager, MD, and CEO of Quantace Research, noted that gold is rising beyond simple macroeconomic tailwinds. He pointed out that the metal is holding its gains even as oil prices and yields partially rebound, indicating that the market is pricing in a durable easing of inflation premiums while drawing robust allocation and momentum flows. According to him, holding above $4,300 keeps the $4,350 to $4,400 range in play, whereas failing to maintain $4,200 would point toward profit-taking. He advised buying controlled pullbacks rather than chasing vertical price spikes.
