Steep Fall In Bangalore Gold Rate! Silver Follows Trend, 24K At One-Week Low On Aug 12; More Dip Expected?

Bangalore gold rate today witnessed a sharp decline on Tuesday, August 12, as part of a wider gold price consolidation amid easing global tariff tensions. Tuesday's fall has brought the Bangalore gold rate to its one-week low mark and raised hopes among retail jewellery buyers of a further decline in the coming days.

Bangalore gold price witnessed a sharp rise during the Raksha Bandhan festival; however, the price of the precious metal has consolidated over the past two to three days. For jewellery buyers who are tracking the latest gold prices, here are the Bangalore gold rates on Tuesday, August 12.

Bangalore Gold Rate Today

The price of 24 karat gold in Bangalore fell by Rs 88 per gram to Rs 10,140 per gram. Likewise, the 22 karat gold rate in Bangalore declined by Rs 80 per gram to Rs 9,295 per gram. The price of 18 karat gold in Bangalore fell by Rs 66 per gram to Rs 7,605 per gram.

The price of Bangalore gold has seen a sharp surge over the past few weeks. The metro city often sees a heightened demand for the yellow metal among retail jewellery buyers.

Bangalore Silver Rate Today

The price of silver in Bangalore also declined significantly on Tuesday. Silver price fell by Rs 2 per gram to Rs 115, whereas silver price declined by around 2,000 per kilogram to Rs 1,15,000 per kilogram.

Silver price rally is the result of a surge in industrial demand as well as rising demand among investors. Silver has attractive valuations against gold. The silver and gold prices in Bangalore move in tandem with their prices in India.

Despite the decline in gold prices in India today, there was a surge in international prices of the commodity. International gold rate today increased to $3,340 per ounce on Tuesday, as investors focus on the upcoming US inflation and economic data, according to Trading Economics. The consolidation in its prices over the past trading session was the result of the extension of the US tariff deadline for China imports. Additionally, Donald Trump's meeting with Russian President Vladimir Putin has raised hopes of a de-escalation between Russia and Ukraine war.

Gold Price Outlook For Tuesday

Due to the declining gold rate in India today, investors are expected to opt for profit booking on Tuesday, according to Nirmal Bang report. "Gold prices are expected to witness profit booking. One can sell at 100700 with a stop loss of 101000 for the target at 100300-100000. One can also buy from 100000 with a stop loss of 99700," noted the brokerage on Tuesday.

For Silver, the brokerage mentioned, "Silver prices are expected to witness profit booking. One can sell at 113800 with a stop loss of 115000 for the target 112500- 111800."

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