Bangalore Gold Rate Today Falls Below Rs 1.63 Lakh/10 Gram Ahead of Raksha Badhan | Check Rates

Bangalore Gold Rate Today: The price of 24 karat, 22 karat and 18 karat gold in Bangalore saw a sharp decline on Thursday, August 27, ahead of Raksha Bandhan celebration. The recent decline in the precious metal came despite a mild recovery in international gold prices after seeing sharp decline over the past few days.

The recent dip in gold prices in Bangalore ahead of the Raksha Bandhan is likely to encourage retail gold jewellery buyers to purchase on the festive occasion. Here is latest detail about gold in Bangalore.

Bangalore Gold Rate Today

The price of 24 karat gold in Bangalore fell by Rs 77 per gram to Rs 16,298 per gram, as per Goodreturns data at 12 pm on Thursday, August 27. The rate of 22 karat gold in Bangalore declined by Rs 70 per gram to Rs 14,940 per gram. Likewise, the price of 18 karat gold in the metro city dipped by Rs 57 per gram to Rs 12,224 per gram.

Bangalore Silver Rate Today

The price of silver in Bangalore remained unchanged on Thursday. Silver rate today in Bangalore stood at Rs 260 per gram and at Rs 2,60,000 per kilogram. Silver price in Bangalore saw sharp volatility in January and February as the precious metal saw wild upswing in January, followed by sharp crash in February.

Despite stability on Thursday, silver prices have seen significant upward trend in August. "Silver has seen a big rally in August, driven by a combination of falling expectations for interest rates, a weaker USD, renewed demand for precious metals and growing concerns over government debt and inflation. Silver is also benefiting from strong industrial demand, particularly from renewable energy, electronics and other technology sectors, with supply issues also adding further support," explained Ross Maxwell, Global Strategy Operations Lead, VT Markets.

International Gold Rate Today

International gold price on Thursday saw mild upward movement on Thursday, August 27. International gold price jumped towards $ 4,650 per ounce, as per Trading Economics data. The recent recovery in international gold prices came as the previous session saw steep losses as investors remained cautious due to Federal Reserve Monetary Policy outlook.

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