Gold Prices Drop in Bangalore on Feb 21: 22K Gold Now Rs. 4,500 Cheaper per 100g; Sliver Down

Gold prices in Bangalore this morning slipped, providing a major respite from the soaring sky-high rates. In the last five days, gold rates in Bangalore have risen more than 19,000 per 100 grams of yellow metal.

Gold Prices Per 10 Grams

Gold rates in Bangalore today for the 10 grams of 22 karat gold are currently at Rs. 80,250 after sliding Rs. 450 per 10 grams. The 24-carat gold rates also surged by Rs. 490 per 10 grams to cost Rs. 87,550. The cheaper variant, or the 18-carat gold, now costs Rs. 65,660, which surged by Rs. 370 per gram.

Gold prices per 100 grams

100 grams of 24-carat gold rates in Bangalore are now at Rs. 8,75,500 after witnessing the decline of Rs. 4,900, while the 22-carat gold in Bangalore slipped by Rs. 4,500 to cost Rs. 8,02,500.

Gold Prices Outlook

According to the India Bullion and Jewelers Association, as featured in the Nirmal Bang securities report, "Gold pared gains on Thursday after reaching a fresh record, as traders booked some profits after US Treasury Secretary Scott Bessent dismissed speculation that the government might revalue its bullion holdings. Gold and silver prices are trading slightly lower today on the international bourses. We expect precious metals prices on Indian bourses to trade range-bound for the day, as gold prices are held near a record - on pace for an eighth straight weekly advance; on increasing haven demand fueled by geopolitical and trade tensions, as well as concerns about the economic outlook."

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:

Silver Prices in Bangalore Today

Silver prices in Bangalore today declined by Rs. 100 per kilogram after showing no movement for five consecutive sessions. 1 kilogram of silver currently costs Rs. 100,400. The price of 100 grams of silver is currently at Rs. 10,040, which slipped by Rs. 10.

Gold and Silver Future Price on MCX

Gold prices on MCX (Multi Commodity Exchange) are trading lower today. Gold futures, expected to mature on April 4, 2025, dipped by 0.20% to trade at Rs. 85,849. Meanwhile, silver futures, with an expiry date of March 5, 2025, traded lower this morning by 0.11%, trading at Rs. 97,004.

Spot Gold and Silver Prices Rise

As per a recent Reuters report, "Gold prices dipped on Friday after reaching a record high in the previous session but remained on track for an eighth consecutive weekly gain. Safe-haven demand, driven by concerns over former U.S. President Donald Trump's tariff threats, continued to support prices. Spot gold declined 0.4% to $2,927.89 per ounce as of 05:01 GMT, while bullion has gained over 1% this week, hitting an all-time high of USD 2,954.69 on Thursday. U.S. gold futures slipped 0.5% to USD 2,942, and spot silver fell 0.4% to USD 32.79 per ounce."