Gold Prices In Bangalore Surge On Budget 2025; Rs.1,600 Jump For 24K Gold; Silver Holds Ground

Gold prices in Bangalore have surged today as anticipation builds for the Union Budget 2025, set to be announced by Finance Minister Nirmala Sitharaman at 11 AM in Parliament. This week, gold prices have been rising due to strong movements in the international markets, which have reached new highs. If the budget announcement includes a reduction in import duties, gold prices could see further upward movement, adding to the already optimistic sentiment in the bullion market.

On 1st Feb 2025, the 22 carat gold rates in Bangalore jumped a huge Rs. 150 per 10 grams to cost Rs. 77,450, while the 24-carat yellow metal saw a rise of Rs. 160 per 10 grams to retail at Rs. 84,490. Similarly, the 18-carat gold prices in Bangalore rose to Rs. 63,370 after a jump of Rs. 120 per 10 grams.

Similarly, the 100 g of 24-carat gold rates in Bangalore jumped Rs. 1600 to cost Rs. 8,44,900. 22-carat gold now costs Rs. 7,74,500 after rising Rs. 1,500 per 100 grams.

Bullion Market Shines on Budget Day

Gold prices in Bangalore are shining brightly today, as anticipation builds ahead of the Union Budget 2025 announcement. The entire nation is eagerly awaiting the crucial announcements from the Finance Minister, with expectations of new initiatives to stimulate growth. Among the anticipated developments, a potential reduction in gold import duties could drive prices lower, providing relief to both consumers and investors. This is expected to boost activity in the bullion market as it braces for the impact of the Union Budget.

Internationally, the bullion market is already seeing a surge. With recent changes in interest rates by the Federal Reserve, gold has become an even more attractive investment option. As global financial conditions evolve, the gold market is poised for further growth, with investors flocking to the metal as a safe-haven asset. The combination of the expected budgetary announcements and a dynamic global market is creating a favorable environment for gold, making today's bullion market one to watch closely.

Gold Prices in Major Indian Cities

Most of the Indian cities experience a decline in gold prices. Here are gold prices in some of the major cities in India:

Silver Prices in Bangalore Today

Silver prices in Bangalore On FEB 1st showed no movenst . Silver rates in Bangalore per kilogram currently cost Rs. 97,500 per kg. The price of 100 grams of silver is currently at Rs. 9,750 .

Gold And Silver Future Price On MCX

On the Multi Commodity Exchange (MCX), gold futures, expected to mature on February 5, 2025, are trading higher by 0.36% at Rs. 82,180. However, silver futures, with an expiry date of March 5, 2025, are also surging this morning with a rise of 0.35% at Rs. 93,657

MCX Gold April is expected to rise back towards ₹82,500 level as long as it stays above ₹81,700 level. On the contrary , if prices break below ₹81,700 level prices may slip sharply towards ₹80,900 level. MCX Silver March is expected to slip towards ₹92,000 level as long as it trades below ₹94,200 level. On the contrary if prices break above ₹94,200 level then prices may move up towards 95,500 level. As per ICICI Direct Commodity Research Report

Market Expectations From

According to ICICI Direct Commodity Research Report, "Gold is likely to trade with positive bias amid rise in demand for safe haven as white House reiterated that US President Donald Trump will implement tariffs of 25% on Canada and Mexico and 10% on Chinese products on Saturday. His tariff plans are widely seen as inflationary and potential to trigger trade war hurting global economic growth. Meanwhile, investors will remain cautious ahead of the Indian Union budget to see whether the government makes any changes in import duty on bars and Dore. We don't expect any changes in import duty on gold and silver. But If the government increases import duty on gold and silver then we may see sharp upside in prices. "