Bangalore Gold Rate Today Takes U-Turn! 24K Falls After Sharp Surge; Silver Slides Too | 20 Feb Rates

Bangalore Gold Rate Today: Gold and silver rates in Bangalore reversed their trajectory on Friday, February 20, a day after seeing a sharp surge in their value. Bangalore gold rate today declined marginally, while Bangalore silver rate today remained stable. Contrastingly, international prices of the precious metals gained momentum as investors priced in the US Federal Reserve's policy outlook.

Back in Bangalore, gold and silver rates are closely tracked by retail jewellery buyers, investors, and jewellery buyers. Here are the latest details related to Bangalore gold and silver rates today.

Bangalore Gold Rate Today

The price of 24 karat gold in Bangalore declined by Rs 32 per gram to Rs 15,617 per gram on Friday, February 20. The rate of 22 karat gold in Bangalore fell by Rs 30 per gram to Rs 14,315 per gram. The rate of 18 karat gold in Bangalore dipped by Rs 24 per gram to Rs 11,713 per gram.

While gold price decline marginally on Friday, but the prices are recovering after the mid-week dip. "The recovery indicates bargain buying at lower levels, as investors start to return to the metal after the sharp correction. Although volatility is still high, the recovery indicates that the overall positive sentiment is not lost. In the short term, gold may try to stabilize as markets re-evaluate global trends and rate expectations," noted Aksha Kamboj, Vice President, India Bullion & Jewellers Association (IBJA) and Executive Chairperson, Aspect Global Ventures.

Bangalore Silver Rate Today

Bangalore silver rate today remained stable. Silver rate in Bangalore, aka Bengaluru, remained at Rs 270 per gram to Rs 2,70,000 per kilogram. Silver has showcased a massive volatility in the last two months, with prices surging above Rs 4 lakh per kg in January and then retreating below Rs 2 lakh in February.

"Silver is making a strong recovery after the sharp sell-off in the previous session. The recovery indicates renewed investor interest and short covering, although sharp movements are likely to continue as silver is more sensitive to market sentiment. If global trends are favorable, silver may continue to recover in the coming sessions," explained Kamboj.

Disclaimer: The views and recommendations expressed are solely those of the individual analysts or entities and do not reflect the views of Goodreturns.in or Greynium Information Technologies Private Limited (together referred as "we"). We do not guarantee, endorse or take responsibility for the accuracy, completeness or reliability of any content, nor do we provide any investment advice or solicit the purchase or sale of securities. All information is provided for informational and educational purposes only and should be independently verified from licensed financial advisors before making any investment decisions.