Gold Prices In Bangalore At An Unstoppable Rise; 22K/100g Climbs Rs.3900 Hitting New High; Silver Holds Firm

Gold prices in Bangalore hit a new record today, rising for the seventh straight day. The prices jumped as U.S. President Donald Trump's new tariff plans raised concerns about a global trade war, pushing investors toward safe-haven assets like gold.

On 10th February 2025, 22-carat gold rates in Bangalore surged by Rs. 350 per 10 grams to cost Rs. 79,800 per 10 grams, and similarly, the 24-carat gold rates in Bangalore per 10 grams spiked Rs. 390 to retail at Rs. 87,060. Just like that, the 18-carat gold prices also experienced a rise of Rs. 280 per 10 grams and are currently priced at Rs. 65,290 per 10 grams.

For those looking for a bulkier option, 100 grams of 24-carat gold prices in Bangalore are now priced at Rs. 8,70,600 after witnessing the rise of Rs. 3,900, while the 22-carat gold in Bangalore rose by Rs. 3,500 to cost Rs. 7,98,000.

What's Driving the Rally in Bangalore Gold Prices?

Gold prices in Bangalore continue their winning streak, marking gains for the seventh consecutive trading session. After a brief dip post-budget, the yellow metal has been on an upward trajectory, with no major pullbacks. This sustained rally is being fueled by multiple global economic and geopolitical factors, primarily linked to trade policy developments in the United States.

One of the biggest catalysts for the surge in gold prices is the latest statement from Donald Trump. As per Reuters, Trump announced that he would impose a new 25% tariff on all steel and aluminum imports into the U.S., with the formal declaration expected on Monday. This move would be an additional layer of duties on top of existing metal tariffs, marking a major escalation in trade tensions. With fears of rising inflation, potential economic slowdowns, investors are shifting their focus to gold which is boosting its demand and price.

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 per kilogram currently cost Rs. 99,500 per kg after experiencing no movement for seven consecutive sessions. The price of 100 grams of silver is currently at Rs. 9,950.

Gold and Silver Future Price on MCX

Gold on the Multi Commodity Exchange (MCX) has touched a record high once again after crossing the 85,000 mark. Gold futures, expected to mature on April 4, 2025, jumped by 0.42% to trade at Rs. 85,243. Meanwhile, silver futures, with an expiry date of March 5, 2025, declined this morning by 0.20%, trading at Rs. 95,146.

According to the ICICI Direct Research Report, "MCX Gold April is expected to hold the support at ₹84,200 level and move higher towards the Rs. 85,800 level. Only a move below the Rs. 84,200 level prices may slip towards the ₹83,500 level. Meanwhile, MCX Silver March is expected to hold the key support at Rs. 94,000 and move higher towards Rs. 96,600. Only above the ₹96,600 level would it turn bullish and open the doors towards ₹98,000."

Spot Gold and Silver Prices Surge Amid Economic Uncertainty

According to Reuters, spot gold prices rose 0.5% to USD 2,875.79 per ounce as of 04:03 GMT, following a record high of USD 2,886.62 reached on Friday. The rally in gold prices continues as investors seek safe-haven assets amid economic uncertainty and global trade concerns. Meanwhile, U.S. gold futures climbed 0.5% to $2,902.40 per ounce, and the spot silver also gained 0.6%, trading at $31.99 per ounce, as investors reacted to shifting market trends.

Reuters reported that market sentiment was influenced by statements from Federal Reserve officials on Friday, who acknowledged the strength of the U.S. job market but expressed uncertainty over the impact of Donald Trump's trade policies on economic growth.

Gold Prices Market Outlook

According to ICICI Direct Research, "Gold is expected to hold above USD 2835 and move higher towards $2890 on safe haven demand as most investors turned cautious due to Trump's trade policies. The recent announcement from the Trump administration to hike tariffs on aluminum and steel imports by 25% has heightened tension. Further, increasing investment demand in China would also support the bullion to scale new highs. Meanwhile, a stronger dollar and diminishing prospects of 2 rate cuts in this year amid fiscal policy uncertainty would restrict any major upside in the yellow metal. "