Gold Prices in Bangalore Observes No Change on Dec 16: Still Rs.15,000 Cheaper Per 100g Since Last Week

Gold prices in Bangalore on December 16 are showing no significant movement after two major dramatic drops last week. Currently, 24K, 22K, and 18K gold prices remain flat, while silver rates have also shown no major changes. As buyers and investors continue to monitor the market, this pause in price movement offers a chance to evaluate trends and plan future purchases amidst a volatile market backdrop.

Today 22 carat gold is priced at Rs. 71,400 per 10 grams while the 24 carat gold is priced at Rs. 77,890 with no major movement in prices. 18 carat gold rates today is currently mirroring yesterday's last week's rates at Rs. 58,420.

For 100 grams of 24 carat yellow metal is currently at Rs. 7,78,900 and for 22 carat price is currently at Rs. 7,14,000.

Gold Prices Hold Steady for Third Consecutive Session in Bangalore

Gold rates in Bangalore remained stable for the third straight session, showing no significant movement in today's trading. This consistency in pricing follows a recent period of sharp declines, which has drawn attention from market watchers and investors alike.

Globally, gold prices saw a slight uptick on Monday as investors anticipated a potential interest rate cut by the Federal Reserve during its upcoming meeting which is scheduled on Dec 17- 18. Market sentiment reflects a strong expectation of a quarter-point rate cut, though the CME FedWatch tool indicates only an 18% probability of an additional reduction in January. On the geopolitical front, renewed strikes in Israel have escalated tensions, providing further support to bullion prices to keep the yellow metal's global demand strong in the short term.

Gold Prices in Major Indian Cities

Most of the Indian cities are experiencing a similar price drop. Here are gold prices in some of the major cities:

Silver Prices In Bangalore

1 kilogram of silver in Bangalore observed no movement and currently stands at Rs.89,500. Similarly, the price for 100 grams of silver cost Rs. 8,950. White metal prices have shown stability for the past two days following consecutive declines earlier this week.

Gold And Silver Future Price On MCX

On the Multi Commodity Exchange (MCX), the gold futures for February 5th, 2025, delivery are trading lower today by 0.15%, at Rs. 77,019 per 10 grams. On the contrary, silver futures for the March 5th, 2025, expiry are extending gains from the past two sessions and are up by 0.07%, trading at Rs. 91,063

Spot Gold And Silver Rates On December 16

According to Reuters, spot gold edged up by 0.1%, trading at $2,650.86 per ounce as of 05:32 GMT. In contrast, U.S. gold futures showed a slight decline, slipping 0.2% to $2,669.00. Meanwhile, spot silver dipped 0.2%, settling at $30.50 per ounce. The modest uptick in gold prices comes as investors anticipate a potential interest rate cut by the U.S. Federal Reserve later this week. Market attention is particularly focused on the central bank's commentary, which may provide insights into its monetary policy direction and the likelihood of additional rate cuts in 2024. This dynamic has kept precious metals traders closely attuned to economic signals, as gold traditionally benefits from a lower interest rate environment that reduces the opportunity cost of holding non-yielding assets.