Gold Prices In Bangalore & Chennai Fall By Rs. 600 On Oct. 15, See Gold & Silver Rates

Gold rates in the major Indian cities are showing a falling trend this week. IBJA fixes the daily gold prices in India and Indian cities, following the international gold rates trend. Indian gold price fell this trading week by around Rs. 1600/10 grams. Indian cities have also shown a similar trend.

Today, on October 15, the yellow metal dropped significantly. In Chennai, the 22-carat gold rate is quoted at Rs. 46,900, and the 24-carat gold rate is quoted at Rs. 51,160/10 grams, falling by Rs. 450 - Rs. 490, respectively. Additionally, the silver price also fell to Rs. 6050/100 grams, falling by Rs. 180 today.

In Bangalore, the 22-carat gold rate is quoted at Rs. 46,250, and the 24-carat gold rate is quoted at Rs. 50,450/10 grams, falling by Rs. 550 - Rs. 600, respectively. Additionally, the silver price also fell to Rs. 5530/100 grams, falling by Rs. 200 today. Silver price also fell to Rs. 5530/100 grams, falling sharply by Rs. 700 today in Bangalore.

This week's falling trend in gold and silver prices is expected to boom retail gold sales this festive season.

This week, a sharp gain in the US Bond Yields has influenced the commodity prices like silver and gold to fall. Investors are expecting that the recently published high CPI inflation data will further determine the US Fed to hike the interest rate. Hence, in that expectation, the 2-year Treasury bond yield increased to around 2-year Treasury bond yield 4.496%, and the 10-year U.S. Treasury yield increased sharply to around 4.022%, at a historically high-level today. The falling international gold rates are impacting similarly the Indian markets.