Bangalore Gold Rates Drop Ahead Of Christmas; 24 & 22k Cheaper By Rs. 1000/100g; Silver Unchanged

With the beginning of the holiday season and Christmas just a day away, Gold prices in Bangalore exhibited a marginal slip after two consecutive days of Stable prices. Traditionally, the festive season in India is associated with increased gold purchases for gifting and investment purposes. This decline in Bangalore gold prices will surely stimulate some last-minute buying in the market.

On 24th December 2024, 22 carat gold rates in Bangalore today slipped by Rs. 100 to cost Rs. 70,900. Meanwhile 24 carat gold rates now retails Rs. 77,350 which fell by Rs. 100. Just like that 18 carat gold rates in Bangalore also declined By Rs. 80 to retail at Rs. 58,010.

Gold and Silver During the Holiday Season

The precious metals market in India continues to attract attention from investors seeking safe-haven assets amid ongoing economic uncertainties and fluctuating monetary policies. However, this week, gold trading has been relatively subdued, due to a lack of significant demand and the absence of a major price push for gold prices in Bangalore and rest of the cities in the country

Globally, As the Federal Reserve signals a more measured pace of interest rate adjustments, gold's appeal as a hedge against inflation and economic instability remains strong Looking ahead, market participants will keep a close eye on economic data releases and Federal Reserve commentary, which are likely to influence gold and silver prices in the coming weeks. Despite the quieter trading activity expected during the holiday period, any unexpected developments could still cause volatility in the precious metals market.

Gold Prices in Major Indian Cities

Most of the Indian cities have stable gold prices today. Here are gold prices in some of the major cities:

Silver Prices In Bangalore

Bangalore silver rates today observed no major momentum after slipping marginally by Rs. 100 per kilogram yesterday. Currently silver costs Rs. 91,400. Similarly, 100 grams of silver in Bangalore today retails at Rs. 9,140.

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 0.17%, at Rs. 76,275 per 10 grams. Similarly, the silver futures for the March 5th, 2025, expiry are surging today by 0.33%, trading at Rs. 89,415.

Spot Gold And Silver Trends In The Market

According to the latest reports from Reuters,spot gold prices saw a slight rise on Tuesday as investors adjusted their expectations for a potentially less aggressive approach to interest rate cuts by the Federal Reserve in the upcoming year. This movement in gold prices comes amidst a holiday-shortened trading week, with lower market activity anticipated as the year draws to a close.

As of 03:07 GMT, spot gold rose by 0.1%, reaching USD 2,616.13 per ounce. Meanwhile, U.S. gold futures remained steady, trading at USD 2,629.80 per ounce. Market analysts attribute the price stabilization to cautious investor sentiment, as market participants weigh the Federal Reserve's anticipated monetary policy shifts alongside broader economic indicators.

The trading environment is expected to remain subdued with reduced volumes as the end of the year approaches, a common trend during holiday periods. Alongside gold, spot silver also edged higher, posting a modest gain of 0.1% to $29.68 per ounce.