Gold rates in key cities in South India have dropped by a huge amount on 6th March. The price of gold is continuing to decline from yesterday’s price level as the prices are falling for the 5th consecutive session in Bangalore, Hyderabad & Chennai. Gold and silver prices are witnessing mild gains in international markets today, recovering slightly after recent losses.
Gold & Silver Rates In Bangalore Today
The price of gold in Bangalore today is Rs 16,211 per gram for 24 carat gold, Rs 14,860 per gram for 22 carat gold, and Rs 12,158 per gram for 18 carat gold.
Gold prices in Bangalore dropped by Rs 770 to Rs 1,62,110 for 24k of 10 grams today from Rs 1,62,880 yesterday. This implies that 24k of 100 gms of gold would cost Rs 16,21,100, down from Rs 16,28,800 on Thursday, representing a price drop of Rs 7,700 overnight.
22k of 100 gms of gold will cost Rs 14,86,000 in Bangalore on Friday, down Rs 7,000 from Rs 14,93,000 on Thursday. Today, gold prices in Bangalore hit Rs 1,48,600 for 22k of 10 grams, which was Rs 1,49,300 yesterday, reflecting a price drop of Rs 700.
18k of 100 grams of gold will cost Rs 12,15,800 in Bangalore on Friday, which was Rs 12,21,600 on Thursday, indicating a price drop of Rs 5,800 overnight. Today, gold prices in Bangalore reached Rs 1,21,580 for 18k of 10 grams, which was Rs 1,22,160 yesterday, a price drop of Rs 580.
The price of silver in Bangalore today is stable at Rs 85 per gram and Rs 2,85,000 per kilogram.
Gold & Silver Rates In Chennai Today
Today’s gold price in Chennai stands at Rs 16,320 per gram for 24 karat gold, Rs 14,960 per gram for 22 karat gold, and Rs 13,030 per gram for 18 karat gold. Gold rates in Chennai today for 24k of 10 grams reached Rs 1,63,200, which was Rs 1,64,950 yesterday, representing a price drop of Rs 1,750. Gold prices in Chennai on Friday reached Rs 16,32,000 for 24k of 100 grams, which was Rs 16,49,500 on Thursday, representing a price drop of Rs 17,500.
Gold prices in Chennai today stood at Rs 1,49,600 for 22k of 10 grams, which was Rs 1,51,200 yesterday, which is a price drop of Rs 1,600. Hence, 22k of 100 grams of gold will cost Rs 14,96,000 in Chennai on Friday, which was Rs 15,12,000 on Thursday, representing an overnight price drop of Rs 16,000.
Gold prices in Chennai today reached Rs 1,30,300 for 18k of 10 grams which was Rs 1,31,000 yesterday representing a price drop of Rs 700 which means that 18k of 100 grams of gold will cost Rs 13,03,000 in Chennai on Friday which was Rs 13,10,000 on Thursday representing a price drop of Rs 7,000 overnight.
The price of silver in Chennai today is Rs 290 per gram and Rs 2,90,000 per kilogram which was Rs 295 and Rs 2,95,000 yesterday.
Gold & Silver Rates In Hyderabad Today
The current price of gold in Hyderabad is Rs 16,211 per gramme for 24 carat gold, Rs 14,860 per gramme for 22 carat gold, and Rs 12,158 per gramme for 18 carat gold.
The price of gold in Hyderabad dropped by Rs 770 overnight to Rs 1,62,110 for 24k of 10 gms today from Rs 1,62,880 yesterday. This means that 24k of 100 grams of gold would cost Rs 16,21,100 on Friday, down from Rs 16,28,800 on Thursday, which is a drop of Rs 7,700 overnight.
Gold price in Hyderabad today reached Rs 1,48,600 for 22k of 10 grams which was Rs 1,49,300 yesterday representing a price drop of Rs 700 hence 22k of 100 grams of gold will cost Rs 14,86,000 in Hyderabad on Friday which was Rs 14,93,000 on Thursday representing a price drop of Rs 7,000.
Gold price in Hyderabad today stood at Rs 1,21,580 for 18k of 10 grams which was Rs 1,22,160 yesterday representing a price drop of Rs 580 hence 18k of 100 grams of gold will cost Rs 12,15,800 in Hyderabad today which was Rs 12,21,600 on Thursday representing a price drop of Rs 5,800 overnight.
The price of silver in Hyderabad today is Rs 290 per gram and Rs 2,90,000 per kilogram which was Rs 295 and Rs 2,95,000 yesterday.
Gold & Silver Rates Outlook Today
“Gold and silver prices are trading slightly higher 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 and silver prices recaptured some losses but remained on track for the first weekly decline in more than a month, pressured by a stronger US dollar and inflationary risks tied to the ongoing war in the Middle East,” commented the research analysts of Nirmal Bang Securities.
MCX Gold Outlook Today
“On the technical front, MCX Gold has witnessed consistent selling at higher levels over the last four sessions and is currently trading near its crucial momentum support. The overall trend remains positive,” commented Abhishek M Pelu – Research Analyst at Way2Wealth Brokers.
“Immediate support is now placed at 158,600, while 163,140- 164,900 stands as the immediate resistance on the higher side. Traders may consider buying MCX Gold for the target of 163,140-164,900, keeping a stop-loss at 157,500,” he further added.
Disclaimer: The views and recommendations expressed are solely those of the individual analysts or entities and do not reflect the views of Goodreturns.in or Greynium Information Technologies Private Limited (together referred to as “we”). We do not guarantee, endorse or take responsibility for the accuracy, completeness or reliability of any content, nor do we provide any investment advice or solicit the purchase or sale of securities. All information is provided for informational and educational purposes only and should be independently verified from licensed financial advisors before making any investment decisions.