BIG Crash In Bangalore Gold Rate Today, May 28, On Eid al-Adha; Check 24K, 22K, 18K Rates in Karnataka Capital

Bangalore Gold Rate Today: The price of 24 karat, 22 karat and 18 karat gold in Bangalore, aka Bengaluru, saw a sharp decline on Thursday, May 28, on the occasion of Bakrid, or Eid al-Adha. Silver rate today in Bangalore also followed the trend and declined marginally. The recent decline in gold rate today in Karnataka capital mirrored a weaker sentiment prevailing across the global commodities market. Global gold rate decline was triggered by Iran's retaliation to US strikes and concerns about West Asia crisis escalation.

Back in Bengaluru, a fresh decline in gold rate today may give an impetus to gold buying, especially on the occasion of Eid Al Adha. Here are the latest details about the gold rate in Bangalore today.

Bangalore Gold Rate Today

The price of 24 karat, 22 karat and 18 karat gold in Bangalore saw a sharp decline on Thursday. The rate of 24 karat gold in Bangalore declined by Rs 223 per gram to Rs 15,606 per gram on Thursday, May 28. The rate of 22 karat gold in Bangalore fell by Rs 205 per gram to Rs 14,305 per gram today. Likewise, the price of 18 karat gold in Bangalore fell by Rs 168 per gram to Rs 11,704 per gram.

Bangalore Silver Rate Today

Silver rate today in Bangalore also saw marginal decline. Silver price in Karnataka capital fell to Rs 275 per gram and to Rs 2,75,000 per kilogram on Thursday. While silver price in Bangalore and across India have been moving in the range-bound manner over the past few weeks, the white metal saw a roller coaster ride in January and February.

Why Gold Prices Are Falling Today?

The recen decline in gold rate in Bangalore and across the country came after fresh Iran-US tensions sparked concerns of intensifying West Asia crisis. The United States launched fresh strikes on Iran on Wednesday, amid uncertainty over peace talks. Iran retaliated to US strikes with attack on an American air base.

Fresh tensions in West Asia fuelled the crude oil prices and has raised fears that crude oil prices may reclaim the $100/barrel mark. Meanwhile, fresh tensions has shifted investors attention away from the precious metal.

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