Massive Rise In Gold Prices In Bangalore On Feb 17; 22K/100g Yellow Metal Costlier By Rs. 5,000

Gold prices in Bangalore today took a leap, recovering from a sharp decline last week when the price of the yellow metal dropped by over Rs.10,000 per 100 grams. The recent rally is largely caused by the global uncertainty surrounding President Trump's tariff imposition, which has left markets on edge. Additionally, the weaker dollar is playing a key role in pushing gold prices in Bangalore higher.

On 17th February 2025, 22-carat gold rates in Bangalore surged by Rs. 500 per 10 grams to cost Rs. 79,400 per 10 grams, and similarly, the 24-carat gold rates in Bangalore per 10 grams spiked Rs. 550 to retail at Rs. 86,620. Just like that, the 18-carat gold rates in Bangalore also experienced a rise of Rs. 410 per 10 grams and are currently priced at Rs. 64,970 per 10 grams.

For those looking for a bulkier option, 100 grams of 24-carat gold prices in Bangalore are now priced at Rs. 8,66,200 after witnessing the rise of Rs. 5,500, while the 22-carat gold in Bangalore rose by Rs. 5,000 to cost Rs. 7,94,000.

Gold Market Sees Strong Rally in Bangalore

This week started on a positive note, with gold prices in Bangalore making a significant jump. Last week, gold broke its winning streak, slipping across all categories. However, the demand for gold in India is currently on the rise, fueled by both local and global factors. Investors are increasingly turning to gold amid the market uncertainty surrounding President Trump's tariff policies and the ongoing trade tensions. Whatever the circumstances, the gold market is enjoying a surge amid the growing interest and demand.

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. 1,00,500 per kg after experiencing no movement for three consecutive sessions. The price of 100 grams of silver is currently at Rs. 10,050.

Gold and Silver Future Price on MCX

Gold price 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.

Spot Gold and Silver Prices Surge

According to recent data from Reuters, spot gold prices have risen by 0.6%, reaching USD 2,899.73 per ounce as of 03:13 GMT. The precious metal has seen remarkable gains in recent days, with bullion having hit an all-time high of USD 2,942.70 on February 11. Meanwhile, U.S. gold futures also experienced a rise, gaining 0.4% to USD 2,912.50 per ounce.

The report further indicates that the dollar index has been hovering near a two-month low, a result of market participants digesting weaker-than-expected U.S. economic data. Gold's price increase on Monday came amid growing concerns about U.S. President Donald Trump's tariff plans, which could ignite further global trade tensions. As traders and investors await more clarity on these plans, the uncertain economic environment is contributing to its ongoing gold price rally.