Priyanka Tiwari
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Suspense crime, Digital Desk : In a significant market development, gold prices in Bangalore experienced a sharp decline on June 16, bringing welcome news to consumers and investors. The price of 24-carat gold tumbled by a substantial ₹1,700 per 10 grams, marking one of the most notable single-day drops in recent times.
This sharp correction offers a potential buying opportunity for those looking to invest in the precious metal or purchase jewelry. Here’s a detailed breakdown of today’s rates in Bangalore:
- 24-Carat Gold: The price for 10 grams of 24-carat gold is now ₹72,220, a significant drop from the previous day's rate of ₹73,920.
- 22-Carat Gold: Commonly used for jewelry, 10 grams of 22-carat gold is priced at ₹66,200, down by ₹1,550 from yesterday's ₹67,750.
- 18-Carat Gold: The rate for 10 grams of 18-carat gold has fallen to ₹54,160, a decrease of ₹1,270.
This downward trend is not isolated to retail markets. On the Multi Commodity Exchange (MCX), gold futures for August delivery also saw a slight dip, trading at around ₹71,929 per 10 grams.
In the international market, spot gold was trading at approximately $2,333.10 per ounce.
Silver prices also saw a minor correction. The price of silver in Bangalore dropped by ₹500, with one kilogram now costing ₹91,000.
This price reduction is a significant development for the market, providing a more attractive entry point for buyers who may have been waiting for prices to cool down from their recent highs.
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