BIG Fall In Bangalore Gold Rate Today, June 5: 24K Down Rs 23,120/10 Gm From Peak | Major Crash Coming?

Bangalore Gold Rate Today: The price of 24 karat, 22 karat, 18 karat gold in Bengaluru, aka Bangalore, continued to fall for third day. The recent decline in Bangalore gold rate today coincided with sharp fall in silver rate today in Karnataka capital. Fall in gold rate today coincided with the Reserve Bank of India's announcement to keep the repo rate unchanged.

Meanwhile, the 24 gold rate in Bangalore has declined for more than 23,000 per 10 gram since its all-time high mark touched in January. The trend has raised expectations among Bengaluru residents of further price correction in the coming weeks that will present an attractive buying opportunity. Till then, let's find out latest details about Bangalore gold rate today, June 5.

Bangalore Gold Rate Today

The price of 24 karat gold in Bangalore declined by Rs 38 per gram to Rs 15,573 per gram on Friday, June 5, as per Goodreturns data. Likewise, the price of 22 karat gold in Bangalore dipped by Rs 35 per gram to Rs 14,275 per gram. The rate of 18 karat gold in Bangalore fell by Rs 28 per gram to Rs 11,680 per gram.

Bangalore Silver Rate Today

Silver price in Bangalore also saw minor decline on Friday. Silver rate today in the Karnataka capital fell to Rs 275 per gram and to Rs 2,75,000 per kilogram on June 5. The white metal has showcased range-bound movement over the past few months after hitting to its all-time high mark above Rs 4 lakh per kilogram in January.

In contrast to the trend in domestic prices, international gold rate today edged higher. International gold saw minor surge earlier in Friday's session where the precious metal surged above $4450 per ounce mark. However, the precious metal failed to hold on to gains and fell below $4450 per ounce, as per Trading Economics data.

"The easing in geopolitical tensions triggered a pullback in crude oil prices, helping alleviate concerns over energy-driven inflation that had recently pushed bond yields higher and strengthened expectations of tighter monetary policy. As inflation fears moderated, gold found support from lower oil prices and a weaker dollar. However, gains remained limited as investors continued to assess strong U.S. economic data and its implications for Federal Reserve policy," explained Manav Modi Commodities Analyst Motilal Oswal Financial services Ltd.

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