Rally In Gold Silver Rate Today Continue In Bangalore,March 28: Check 18K, 22K, 24K Latest Rates

Gold rates in Bangalore today jumped for the second day as the weekend began, adding gains to the yellow metal for the second consecutive session. Additionally, the sliding dollar value is currently providing support, leading to a rise in gold prices in India.

Gold prices were sharply higher through most of March and then cooled a bit this week. In the 10-day window ending March 27, 24K gold moved from Rs. 15,742 per gram on March 18 to Rs. 14,471 on March 27, while 22K fell from Rs. 14,430 to Rs. 13,265.

Gold Rate Today In Bangalore

24-carat gold price in Bangalore today rose by Rs. 2150 to cost Rs. 1,48,090 per 10 grams, and 22-carat gold currently retails at Rs. 1,35,750 per 10 grams, which is up by Rs. 2300.. In a similar way, the 18-carat gold rates also spiked by Rs. 1880 to cost Rs.1,11,070 .

For bulkier quantities, the price stands at Rs. 14,80,900 per 100 grams of 24-carat gold and Rs. 13,57,500 per 100 grams of 22-carat yellow metal.

Gold Maintains its Winning Streak

Gold prices in the Indian market have been steadily rising for the past twi sessions. After witnessing sluggish demand last week, the market is now seeing a recovery, with the arrival of the wedding season in India, which is apparently driving the demand for the yellow metal.

On the global front, escalating geopolitical tensions due to middle eastern war have prompted investors to seek refuge in gold as a safe-haven asset. The possibility of a Federal Reserve interest rate reduction is another factor supporting the current upward momentum in gold prices.

As per a report by Way To Wealth, "Gold steadied near $4,400 after a sharp fall, as easing immediate geopolitical tensions and delayed action by the US on Iran offered relief, though ongoing conflict and inflation concerns continue to pressure metals amid rate hike fears. On the technical front, MCX Gold witnessed a sharp relief bounce, followed by a resumption of selling. The daily trend remains bearish, and momentum is on the negative side. We continue to maintain a cautious outlook on MCX Gold. Levels at 142,695 and 145,194 are likely to act as key intraday resistance, while support is seen at 136,300, followed by 130,300. The outlook for the day remains cautious."

Silver Rate in Bangalore Today

Silver prices in Bangalore remain unmoved today after registering gains for two sessions previous. At present, 1 kilogram of silver in Bangalore currently retails at Rs. 2,45,000 with a Rs. 5000 spike. Similarly, the price for 100 grams of silver stands at Rs. 24,500 on March 27.

Gold And Silver Future Price On MCX

Precious metal futures on the Multi-Commodity Exchange (MCX) ended trading in positive territory. Gold futures maturing on April 2nd are currently trading at Rs. 1,44,500per 10 grams, 0.15% higher than their previous close. Similarly, silver futures for the May 5th expiry closed lower by 0.09%, at Rs. 2,27,750

Spot Gold and Silver Rates in the Global Market

In a report dated March 27, Reuters highlighted that gold prices climbed for the fourth consecutive session on Friday. As per the Report, "Spot gold added 2.6% to $4,491.78 per ounce as of 1:45 p.m. ET (1745 GMT) after rising as much as $4,554.39 earlier in the session. U.S. gold futures ​for April delivery settled 2.7% higher at $4,492.5. Spot ​silver rose 2.2% to $69.54 per ounce."
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