Bangalore Gold Rate Today Crashes Further; 24K Plunges Below Rs 1.55 Lakh/10 Gm | 6 Feb

Bangalore Gold Rate Today: Gold and silver prices in Bangalore extended their sharp decline for a third straight session on Friday, February 6. The sustained sell-off has erased year-to-date gains, as profit-taking intensified after precious metals hit back-to-back record highs in January and failed to hold those levels.

Back in Bangalore, massive price crash is likely to benefit the retail jewellery buyers and investors. Here are all the details about Bangalore gold rate today.

Bangalore Gold Rate Today

The price of 24 karat gold in Bangalore fell by Rs 207 per gram to Rs 15,235 per gram at 12 pm on Friday, February 6. The rate of 22 karat gold in Bangalore declined by Rs 190 per gram to Rs 13,965 per gram. The price of 18 karat gold in Bangalore fell by Rs 156 per gram to Rs 11,426 per gram.

Bangalore Silver Rate Today

The price of silver in Bangalore declined significantly on Friday, February 6. Bangalore silver rate today declined by Rs 25 per gram to Rs 275 per gram and by Rs 25,000 per gram to Rs 2,75,000 per kilogram.

The sharp decline in gold and silver rates has come after a significant jump in the precious metals over the past month. However, the precious metals saw a steep correction in the last two days, and experts believe that price correction may continue for some more time.

" Central bank purchases and ETF inflows continue to absorb a significant portion of global gold supply, providing a strong base of long-term demand. At the same time, ongoing geopolitical uncertainty and macro risks keep the safe-haven narrative relevant, even if flows ebb and flow in the short run," stated InCred Money expert.

"Silver's case is further strengthened by its industrial role. Demand from technology, electronics, and renewable energy continues to outpace supply, leading to persistent structural deficits. This makes silver more volatile than gold, but also more sensitive to global growth and energy-transition themes," the expert added.

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