Bangalore Gold Rates Stabilize After Rs. 4,000 Decline Last Week; 22/10g Now At Rs.72,150, Silver Stable

Gold rates in Bangalore have stabilized today after a significant decline of Rs. 4,400 on Friday. The precious metal has seen notable fluctuations in the first few days of the new year, with prices reaching their weekly highs before the dip.

As of January 6, 2025, the price of 22-carat gold in Bangalore remains stable at Rs. 72,150 per 10 grams, while 24-carat gold is priced at Rs. 78,710. The price of 18-carat gold today stands at Rs. 59,030 per 10 grams.

For larger quantities, the price of 100 grams of 24-carat gold is Rs. 7,87,100, while 100 grams of 22-carat gold is priced at Rs. 7,21,150.

Newfound Interest in the Gold Market

As the new year began, the gold market saw a surge in investor interest, with a strong rally observed during the first few days of the year. However, prices experienced a significant decline on Saturday, and little movement was seen over the weekend. The US dollar index fell to 108, after reaching a two-year high of 109.55, which has provided some support for gold.

Market participants are closely awaiting the release of US job data and other key economic indicators, which are expected to drive market sentiment positively. Additionally, expectations of rate cuts by the Federal Reserve are bolstering gold's rally, as investors seek safe-haven assets amidst potential economic shifts.

With Donald Trump taking office on January 20, attention will shift to how markets will react to the administration's policies, particularly any changes in fiscal or monetary strategies that could impact market dynamics. The coming months will be critical for gold, as political and economic developments unfold.

Gold Prices in Major Indian Cities

Most of the Indian cities sawa huge rally in gold prices today. Here are gold prices in some of the major cities:

Silver Prices In Bangalore

Silver prices in Bangalore today are experiencing no major movements in the last two days. Currently, 1 kg of silver costs around Rs. 91,500. Similarly, the price for 100 grams of silver cost Rs. 9,200 on January 6th, 2025.

Gold And Silver Future Price On MCX

On the Multi Commodity Exchange (MCX), the gold futures for February 5th, 2025, delivery are trading lower by 0.18%, at Rs. 77,179 per 10 grams. Similarly, the silver futures for the March 5th, 2025, expiry are extending losses today by 0.05%, trading at Rs. 89,175.

Spot Gold and Silver Prices Edge Higher Amid Market Cues

According to the latest report from Reuters dated January 6, spot gold prices rose by 0.2%, reaching $2,643.69 per ounce as of 0229 GMT, indicating a steady demand for the precious metal. Meanwhile, U.S. gold futures advanced by 0.1%, trading at $2,656.80 per ounce, reflecting investor interest amid ongoing economic uncertainties. In addition to gold, spot silver also gained momentum, rising by 0.2% to $29.67 per ounce.