BIG Fall In Bangalore Gold Rate Today Ahead of New Year! 24K Gold Down Rs 65,400/100Gm In 3 Days; Check Rates

Bangalore Gold Rate Today: The recent gold price rally appears to have taken a breather after hitting consecutive record highs in December. Gold and silver rates in Bangalore (also known as Bengaluru), along with other major Indian cities, have witnessed a sharp decline over the past three days.

The sharp fall in gold and silver prices has coincided with a massive fall in international prices of the precious metals as investors opted for profit booking.

Bangalore Gold Rate Today

The price of 24 karat gold in Bangalore, aka Bengaluru, has declined by Rs 654 per gram in three days. Which means that the price of 100 grams of 24 karat gold in Bengaluru declined by Rs 65,400 in three days. Bangalore gold rate today (24 karat) fell by Rs 32 per gram to Rs 13,588 per gram on Wednesday, December 31. The rate of 22 karat gold in Bangalore declined by Rs 30 per gram to Rs 12,455 per gram. The rate of 18 karat gold in Bangalore dipped by Rs 24 per gram 10,191 per gram.

"Gold is easing off recent highs, with some profit-taking setting in after the strong year-end rally. The correction does appear more corrective than trend-changing, though, with broader sentiment still underpinned by global uncertainty and expectations for easier monetary conditions. With markets considering year-end positioning, gold is likely to undergo a period of consolidation, although the fundamental demand continues to support it," noted 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 remained stable on Wednesday. The price of silver in Bangalore stood at Rs 240 per gram, Rs 2,40,000. Silver rate in India has jumped nearly 160% since the beginning of the year. The prices of silver surged significantly over the past one month, however, they have declined in last one week.

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