Gold, Silver Drop in Bangalore on 3 Nov — SkimNews
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- Gold declined by ₹1,320 per 10 grams, or 0.94%, to ₹1,39,200 in Bangalore on 3 November, reflecting weakness in the domestic bullion market.
- Silver dropped ₹5,360 per kg, or 2.91%, to ₹1,78,590 in Bangalore, with the decline accelerating in the futures market to 3.03% on MCX.
- 24-karat gold in Bangalore has fallen 7.46% over the past month, from ₹150,420 to ₹139,200 per 10 grams, marking a ₹11,220 drop.
- Silver has seen a steeper 21.11% correction over the past month, falling from ₹226,390 to ₹178,590 per kg—a ₹47,800 decline.
- MCX futures mirrored the spot trend, with gold futures down 0.92% to ₹1,38,900 per 10 grams and silver futures falling 3.03% to ₹1,78,207 per kg.
- Different gold purities in Bangalore’s retail market showed proportional declines, with 22-karat at ₹1,27,600, 20-karat at ₹1,16,000, and 18-karat at ₹1,04,400 per 10 grams.
Why it matters: The sharp monthly drop in silver—21.11%—makes it significantly cheaper for industrial users and investors in Bangalore, while the 7.46% fall in gold may prompt jewellery buyers to reassess purchase timing ahead of the festive season, despite ongoing price volatility.
Ask SkimNews
