Bangalore Gold Rates Extend Three-Day Rally As 24K Crosses Rs 1.55 Lakh

Gold prices in Bangalore have registered a sharp three-day rally, pushing 24-karat gold beyond Rs 1.55 lakh per gram. The surge is driven by global bullion strength, soft US economic data, and shifting Federal Reserve rate expectations.

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.

What this means for you
• Across India: Global bullion rallies filter through to domestic retail markets, increasing acquisition costs for jewelry buyers and investors nationwide.
• In Bangalore: Local retail buyers and high-net-worth investors face significantly higher entry points for gold purchases amidst the ongoing three-day rally.

Questions & Answers

1. What is the latest rate for 24-karat gold in Bangalore?
The price of 24-karat gold in Bangalore reached Rs 15,566 per gram following recent gains.

2. Did silver prices change in Bangalore on Monday?
No, silver prices in Bangalore remained unchanged, standing at Rs 250 per gram and Rs 2,50,000 per kilogram.

3. What is the international gold rate currently?
The international gold rate increased to $4,400 per ounce, as per Trading Economics data.

4. What factors are driving the current gold price rally?
The rally is driven by subdued US economic data and reduced expectations for an imminent Federal Reserve interest rate hike.

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