Bangalore Gold Prices Hit Monthly Low On Dec 20; 22K/100g Gold Drops Rs.3,000, Silver Slides Rs.1,000

Gold rates in Bangalore today Fell once again on 3rd consecutive decline of this week as the Us dollar index continues to rise creating headwinds for yellow metal. The 22 carat gold prices in Bangalore on 20th December is at Rs. 70,400 after slipping Rs, 300 per 10 grams. While 24 carat gold rate slipped by Rs.330 to cost Rs. 76,800 per 10 grams. In similar lines 18 carat gold rates in Bangalore Fell by Rs. 250 To retail at Rs. 57,600.

For those purchasing in bulk, 100 grams of 24-carat gold in Bangalore is now priced at Rs. 7,68,000, shedding Rs. 3,300, while 100 grams of 22-carat gold is priced at Rs. 7,04,000, down by Rs. 3,000.

Precious Metal Under Pressure:

This week particularly was a challenging week for precious metals, with both gold and silver facing downward pressure in the market. Gold prices in Bangalore fell by about Rs. 11,000 per 100 gram in the three days with consecutive declines.

The shift in sentiment was triggered by the Federal Reserve's recent decision to slow down its rate-cutting cycle, signaling a more cautious approach toward monetary policy easing. As a result, the US dollar index surged to a one-year high of 108, further dampening the appeal of gold. Market participants are now closely monitoring the upcoming release of the core Personal Consumption Expenditures (PCE) data, the Federal Reserve's preferred measure of inflation. This data will provide further insights into the U.S. economic outlook and may influence future policy decisions.

Gold Prices in Major Indian Cities

Most of the Indian cities are experiencing a similar drop in prices. Here are gold prices in some of the major cities:

Silver Prices In Bangalore:

Silver rates in Bangalore today Fell Rs.1000 per kg second decline this week and currently stand at Rs.90,500 Similarly, the price for 100 grams of silver costs Rs. 9,050 which fell Rs.100.

Gold And Silver Future Price On MCX

On the Multi Commodity Exchange (MCX), the gold futures for February 5th, 2025, delivery are extending gains of 0.18%, at Rs. 75,784 per 10 grams. Similarly, the silver futures for the March 5th, 2025, expiry are surging today by 0.15%, trading at Rs. 87,321..

Spot Gold And Silver Rates On December 19

As per a recent report by Reuters, spot gold remained relatively unchanged at USD 2,596.89 per ounce as of 03:26 GMT, marking a 2% decline for the week so far. U.S. gold futures saw a slight uptick, rising by 0.1% to USD 2,611.30. On the other hand, silver is on track to record its worst weekly performance since December 2023 the report further stated. Spot silver prices dropped by 0.4%, settling at $28.92 per ounce.