There was a sharp decline in gold and silver prices in Bangalore on February 5. The precious metals reversed the losses they experienced on Wednesday in the international market.
This recent drop in gold and silver prices comes after US Federal Reserve Governor Lisa Cook indicated on Wednesday that she does not support a rate cut due to high inflation.
In Bangalore, also known as Bengaluru, the sudden drop in gold and silver prices has created a good buying opportunity for retailjewelry buyers and investors.
Bangalore Gold Rate Today
The price of 24 karat fell by Rs 502 per gram to Rs 15,442 per gram at 12 pm on Thursday, February 5. Therefore, 10 grams of gold cost around Rs 1,54,420 on that day.
The price of 22 karat gold dropped by Rs 460 per gram to Rs 14,155 per gram.The price of 18 karat gold decreased by Rs 376 per gram to Rs 11,582 per gram.
Silver Rate Today
The price of silver in Bangalore dropped significantly on Thursday, February 5. Silver prices fell to Rs 300 per gram and to Rs 3,00,000 per kilogram.
Meanwhile, international gold prices also saw a sharp decline on Thursday. The gold rate went down by 2% to around Rs 4,840 per ounce. The recent drop in precious metals follows renewed concerns about the Federal Reserve’s interest rate policies.
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