Bangalore Gold Rates on Dec 4: 22K Gold at Rs. 71,310/100g; Silver Dips by Rs. 100/kg

Gold prices in Bangalore remained steady today, showing little movement as market participants awaited key economic data from the United States. The ADP employment report, scheduled for release later today, is being closely watched ahead of the U.S. payrolls report due on Friday. Investors are also looking forward to the Federal Reserve Chair Jerome Powell's speech ater in teh day for more insight on the upcoming monetary policy.
As of December 4, 2024, the price of 22-carat gold per 10 grams stands at Rs. 71,310, while 24-carat gold is priced at Rs. 77,790. For 18-carat gold, the cost per 10 grams is Rs. 58,350.
For larger quantities, 100 grams of 24-carat gold is currently priced at Rs. 7,77,900, and the same quantity of 22-carat gold is available at Rs. 7,13,100.

Gold Prices In Other Major Indian Cities

All cities in India are observing a similar decline in Yellow metal prices. Here are rates in some of the major cities:

Silver Prices in Bangalore Today

Silver prices in Bangalore slipped slightly today . At present, 1 kilogram of silver in Bangalore currently retails at Rs.90,900 slipping by Rs. 100 per kg. Similarly, the price for 100 grams of silver stands at Rs. 9,090 registering a minor decline of Rs. 10 on December 4th 2024.

Gold And Silver Future Prices On MCX

On the Multi Commodity Exchange (MCX), gold futures for delivery on February 5, 2025, are trading down by 0.06% at Rs. 76,854. Similarly, silver futures, set to mature on March 5, 2025, have fallen by 0.03%, trading at Rs. 92,167.

Spot Gold and Spot Silver Rates

According to a recent report by Reuters, spot gold remained steady at $2,644.42 per ounce as of 0203 GMT, reflecting a cautious sentiment in the market. In contrast, U.S. gold futures dipped slightly, down 0.1% to $2,666.40 per ounce. Meanwhile, spot silver edged up by 0.1%, trading at $31.06 per ounce, indicating some resilience among precious metals.
Gold prices remained largely unchanged on Wednesday as investors awaited critical U.S. jobs data and remarks from Federal Reserve Chair Jerome Powell later in the day. These developments are expected to provide further clarity on the Fed's trajectory for interest rate cuts.
Tuesday's data revealed a moderate increase in U.S. job openings for October, alongside a decline in layoffs, signaling a steady labor market. If the upcoming jobs report indicates robust growth, it could prompt the Federal Reserve to adopt a cautious approach toward cutting interest rates, potentially impacting gold's appeal as a safe-haven asset. Investors will be closely monitoring these events to gauge the direction of monetary policy and its implications for the global economy.