Bangalore Gold Prices Plummet ₹218 from Recent High

Gold prices in Bangalore plummeted on July 24, wiping out a significant portion of this week's gains. The price of 24K gold fell by ₹185 to ₹14,433 per gram, while 22K and 18K gold rates dropped ₹170 and ₹139, respectively.

The sharp correction comes after gold prices rallied strongly between July 18 and July 22. However, the last two sessions have marked a significant reversal in trend, with gold prices falling by ₹218 from their high of ₹14,651 on July 22.

The price drop has brought gold rates back closer to mid-July levels, although they still remain above the recent low recorded on July 17. The sharp fluctuation in gold prices is attributed to various factors, including international bullion prices, movements in the rupee against the US dollar, and import costs.