Gold Price In Bangalore Today, 5th March: 24K/100 Gms of Gold Rally Rs 6,000; 1 Kg Silver Stable At Rs 98,000

Today, Wednesday, March 5, the price of gold saw an enormous rise in Indian cities. Bangalore has been used as an example here. Worries over US President Donald Trump's tariff plans drove the price of gold on the domestic market. Gold rates are anticipated to move in a favourable direction due to the dollar's weakening and the drop in US Treasury yields.

Gold Rate In Bangalore Today

Today, 24 carat gold costs Rs 8,798 per gramme, 22 carat gold costs Rs 8,065 per gramme, and 18 carat gold costs Rs 6,599 per gramme in Bangalore. The price of 22k of 10 grams of gold in Bangalore increased by Rs 550 on Wednesday from Rs 80,100 on Tuesday to Rs 80,650 on Wednesday. In Bangalore, the price of 22k of 100 grams of gold would be Rs 8,06,500 today, up Rs 5,500 from Rs 8,01,000 yesterday.

While 24k of 100 grammes of gold would cost Rs 8,79,800 in Bangalore today compared to Rs 8,73,800 yesterday, marking a price increase of Rs 6,000, 24k of 10 grammes of gold reached Rs 87,980 on Wednesday compared to Rs 87,380 on Tuesday, showing a price surge of Rs 600.

18k of 10 grams of gold rates in Bangalore on Wednesday reached Rs 65,990 compared to Rs 65,540 on Tuesday representing a price jump of Rs 450 whereas 18k of 100 grams of gold will cost Rs 6,59,900 in Bangalore today compared to Rs 6,55,400 yesterday representing a price jump of Rs 4,500.

Silver Price In Bangalore Today

Silver rates in Bangalore today were steady at Rs 98 per gram and Rs 98,000 per kilogram.

"MCX Silver May is expected to rise towards ₹96,700 level as long as it trades above ₹95,000 level," as per ICICI Direct Research.

MCX Gold Outlook Today

"From a technical perspective, MCX Gold extended its positive sentiment for the second consecutive session and formed a bullish candle on the daily chart. The commodity is currently hovering around its 4-hour crucial supply zone of 86150-86600, where a confirmed bearish candle on the 4-hour chart suggests a potential decline towards 85500/85230/84850 levels, supporting a counter-trend move. However, if MCX Gold sustains above 86600, it could advance towards 87000/87400 levels. Traders are advised to maintain tight stop losses, as the commodity is trading in a critical zone that could witness heightened volatility," said Jebaris Nadar - Research Associate at Way2Wealth Brokers Pvt. Ltd.

Gold & Silver Price Outlook Today

"Gold and silver prices are trading slightly lower today on the international bourses. We expect precious metals prices on Indian bourses to trade range-bound to slightly higher for the day, as gold prices are steady near a record high, after rising more than 2% over the previous two sessions as President Donald Trump's tariff barrage drove haven demand," as per Nirmal Bang Securities.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.