On February 5, 2025, the 22-carat gold price in Bangalore skyrocketed by Rs. 950 per 10 grams, reaching Rs. 79,050 per 10 grams. In a similar vein, the price of 24-carat gold in Bangalore increased by Rs. 1,040 per 10 grams, reaching Rs. 86,240 at retail. In the same way, the price of 18-carat gold increased by Rs. 780 per 10 grams, reaching Rs. 64,680 per 10 grams at the present time.
For those seeking a more substantial choice, the 100 grams of 24-carat gold rate in Bangalore has increased by Rs. 10,500 to Rs. 8,62,400, while the 22-carat gold in Bangalore has increased by Rs. 9,500 to Rs. 7,90,500.
Gold Prices in Major Indian Cities
Most of the Indian cities experience this rise in gold rates. Here are gold prices in some of the major cities in India:
Cities | 24 carat | 22 carat |
---|---|---|
Delhi | ₹ 86,390 | ₹ 79,200 |
Mumbai | ₹ 86,240 | ₹ 79,050 |
Chennai | ₹ 86,240 | ₹ 79,050 |
Kolkata | ₹ 86,240 | ₹ 79,050 |
Silver Prices in Bangalore Today
Silver prices in Bangalore today Surged after a decline in prices yesterday. Silver rates in Bangalore per kilogram currently cost Rs. 99,500 per kg after experiencing a rise of Rs. 1000. The price of 100 grams of silver is currently at Rs. 9,950, which jumped by Rs. 100.
Gold and Silver Future Price on MCX
Gold on the Multi Commodity Exchange (MCX) has touched a record high today after crossing the 84,000 mark. Gold futures, expected to mature on April 4, 2025, jumped by 0.49% to trade at Rs. 84,204. Meanwhile, silver futures, with an expiry date of March 5, 2025, also rose this morning by 0.13% at Rs. 95,833.
According to the ICICI Direct Research Report, “MCX Gold April is expected to march towards the Rs.84,500 level as long as it stays above the Rs.83,200 level. Only a move below the Rs.83,200 level prices may slip sharply towards the ₹82,600 level. MCX Silver March is expected to hold its gains and move towards Rs.96,600. Above the Rs.96,600 level, it would open the doors towards Rs.98,000. On the downside, immediate support exists near the Rs. 94,000 level.”
Spot Gold and Silver Prices
According to Reuters, Spot gold gained 1.1% to S2,844.56 per ounce as of 01:40 p.m. ET (1840 GMT), after hitting a record high of USD 2,845.14 earlier in the session.U.S. gold futures settled 0.7% higher at $2,875.80.Spot silver rose 2.5% to $32.33 per ounce. Gold prices regained an all-time high on Tuesday, driven by investors seeking the safe-haven asset after China retaliated with tariffs on the U.S. in response to President Donald Trump’s tariffs.
Gold Prices Poised For Further Gains-Market Outlook
According to ICICI Direct Research, “Gold is likely to extend its gains amid safe haven buying and softness in the dollar. Ongoing trade war concerns would increase the demand for safe assets and support the bullions to make new highs. Further, forecasts of less than expected rise in US job numbers would weigh on the dollar and strengthen the bullion to trade higher. Spot gold is expected to hold the support of $2810 and move higher towards $2865. Closure of OI in OTM call strikes indicates short covering, which might push prices further higher.
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Original news source Credit: www.goodreturns.in
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