Bangalore Gold Rate Today Falls Rs 1.09 Lakh In 5 Days; Silver Rate Today Stays Stable | March 6 Rates

Bangalore Gold Rate Today: The price of 24 karat, 22 karat, and 18 karat gold in Bengaluru, also called Bangalore, continued to decline for the fifth straight session on Friday, March 6. Meanwhile, the silver rate in Bangalore remained stable on Friday. The fall in gold prices came as international rates of the precious metal moved toward their first weekly loss in over a month.

Correction in gold and silver prices today came as the US Dollar strengthened and Treasury yields surged amid ongoing geopolitical tensions. The United States strikes on Iran continues to weighs investors sentiment.

Back in Bangalore, the price of gold and silver are constantly tracked by retail jewellery buyers and investors. Here are latest gold and silver rates in Bangalore on March 6.

Bangalore Gold Rate Today

The price of 24 karat gold in Bangalore fell by Rs 77 per gram to Rs 16,211 per gram on Friday, March 6. The rate of 22 karat gold in Bangalore declined by Rs 70 per gram to Rs 14,860 per gram. Likewise, the rate of 18 karat gold in Bangalore fell by Rs 58 per gram to Rs 12,158 per gram. Over the past five days, 24 karat gold rate in Bangalore has declined around Rs 1098 per gram. Which means that per 100 grams of 24 karat gold in Bangalore became cheaper by Rs 1,09,800 to Rs 16,21,100 in five days.

"The price of gold is continuing to decline from yesterday's price level. The prices are falling for the fourth consecutive session. Gold is losing value due to sustained profit-taking and reduced safe-haven demand, despite the presence of geopolitical risks. In the short term, it seems like gold prices may face some pressure before any global trigger boosts buying activity," stated Aksha Kamboj, Vice President, India Bullion & Jewellers Association (IBJA) and Executive Chairperson, Aspect Global Ventures.

Bangalore Silver Rate Today

The price of silver in Bangalore stood at Rs 285 per gram and to Rs 2,85,000 per kilogram on Friday, March 6. Silver prices have remained volatile in the last two months with prices jumping above Rs 4 lakh per kilogram in January end and then sinking below Rs 3 lakh mark in March. While silver remained stable on Friday, the precious metal saw some correction over the past few days.

"The price of silver is falling compared to its previous session price level, but has been doing so in a limited manner. The prices are showing stability in comparison to gold prices, even though overall sentiment has weakened. The prices are still supported by positive industrial demand prospects," added Aksha Kamboj.