Bangalore Gold Rate Today Rallies Beyond Imagination! 24K Zooms Rs 3 Lakh In Jan So Far; US Fed Meet In Focus

Bangalore Gold Rate Today: There was a sharp increase in the prices of gold on Wednesday as the falling US dollar currency and heightened geopolitical tensions boosted demand for the safe-haven asset. The ongoing United States Federal Reserve meeting has further heightened uncertainty among investors.

Back in Bangalore, the strong safe-haven rally has fuelled the gold prices in the Karnataka capital. The price of 24 karat gold in Bangalore jumped over Rs 3,000 per gram (equivalent to Rs 3 lakh per 100 grams) in January, as per the GoodReturns data. The sharp surge has emerged as a major setback for the retail jewellery buyers and investors.

Bangalore Gold Rate Today

The price of 24 karat gold in Bangalore jumped by Rs 322 per gram to Rs 16,517 per gram on Wednesday, January 28. The rate of 22 karat gold in Bangalore surged by Rs 295 per gram to Rs 15,140 per gram. Likewise, the price of 18 karat gold in Bangalore increased by Rs 242 per gram to Rs 12,388 per gram.

Bangalore gold rate has jumped around Rs 3,011 per gram from Rs 13,506/gram on 1 January to Rs 16,517 per gram on January 28. Which means that the price of 24 karat gold in Bangalore has surged around Rs 3,01,100 per 100 gram in January till now. With this, Bangalore gold rate has seen its sharpest one-month surge in a decade.

Bangalore Silver Rate Today

The price of silver in Bangalore jumped significantly on Wednesday. Bangalore silver rate today jumped by Rs 10 per gram to Rs 380 per gram and by Rs 10,000 per kilogram to Rs 3,80,000 per kilogram. Silver rate in Bangalore has surged significantly over the past oneyear. Silver prices have jumped over 170% in one year. Whereas, the silver price has surged nearly 30% in January.

The international gold rate crossed $5,200 per ounce on Wednesday, as it hit the new record high mark for the first time. The sharp jump in gold rate today came as the sharp decline in dollar fuelled investor demand for safe-haven assets. Additionally, US Federal reserve is set to announce its decision on rate cut on Wednesday. Uncertainty over US Fed rate decision had further fuelled the gold and silver price rally.

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