BIG Fall In Bangalore Gold Rate Today On Raksha Bandhan | Time To Buy The Best Gift For Sibling?

Bangalore Gold Rate Today: The price of 24 karat, 22 karat and 18 karat gold in Bangalore saw a sharp decline as the people across India celebrated Raksha Bandhan on Friday, August 28. The recent decline in gold prices mirrored a correction in international gold prices as investors awaited Federal Reserve Chair Kevin Warsh's speech.

Bangalore Gold Rate Today on Raksha Bandhan

The price of 24 karat gold in Bangalore fell by Rs 316 per gram to Rs 15,982 per gram on Friday, August 28. The rate of 22 karat gold in Bangalore declined by Rs 290 per gram to Rs 14,650 per gram, as per Goodreturns data at 12:12 pm on Friday. The rate of 18 karat gold in Bangalore fell by Rs 237 per gram to Rs 11,987 per gram.

Bangalore Silver Rate Today

Silver rate today in the Karnataka capital followed the trend and fell to Rs 255 per gram and to Rs 2,55,000 per kilogram, according to Goodreturns data. Silver price in Bangalore corrected on Friday after seeing a significant surge throughout August.

The recent mild correction in silver prices has emerged as a key opportunity for retail jewellery buyers and investors. "For investors already holding silver, the case for holding remains strong, particularly as part of a diversified portfolio. For new investors, however, it can be dangerous chasing a near-20% monthly rally. A better approach may be to build a position gradually, using dollar-cost averaging strategies, rather than buying after such a strong move," sttad Ross Maxwell, Global Strategy Operations Lead, VT Markets.

International Gold Rate Today

After seeing a sharp rally in the first half of August, international gold price eased below $ 4,600 per ounce on Friday, as per Trading Economics data. With the recent decline, bullion is set to end the week with marginal decline as investors await Federal Reserve Chair Kevin Warsh's speech at the annual Jackson Hole symposium.

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