Gold Prices In Bangalore Surge Rs. 11,500 After Yesterday’s Huge Drop; Check Gold Rates For 24K, 22K, 18k

Just as gold buyers held a sigh of relief from yesterday's decline in gold prices. Gold prices in Bangalore today spiked enormously. Post the union budget 2025, market participants had been anticipating this rise. On the global front, despite the strengthening US dollar, gold prices are rallying to record highs, driven by global trade tensions between the US, Mexico, and China.

On 4th February 2025, 22-carat gold rates in Bangalore surged massively by Rs. 1050 per 10 grams to cost Rs. 78,100 per 10 grams, and similarly, the 24-carat gold rates in Bangalore per 10 grams spiked Rs. 1,150 to retail at Rs. 85,200. Just like that, the 18-carat gold prices also experienced a rise of Rs. 860 per 10 grams and are currently priced at Rs. 63,900 per 10 grams.

For those looking for a bulkier option, 100 grams of 24-carat gold prices in Bangalore are now priced at Rs. 8,52,000 after witnessing the rise of Rs. 11,500, while the 22-carat gold in Bangalore rose by Rs. 10,500 to cost Rs. 7,81,000.

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 Fell despite the humongous rise in gold prices. Silver rates in Bangalore per kilogram currently cost Rs. 98,500 per kg after dropping Rs. 1000. The price of 100 grams of silver is currently at Rs. 9,850, which fell by Rs. 100.

Gold and Silver Future Price on MCX

On the Multi Commodity Exchange (MCX), gold futures, expected to mature on February 5, 2025, are trading lower by 0.20% at Rs. 83,120. However, silver futures, with an expiry date of March 5, 2025, are experiencing a decline this morning of 0.16% at Rs. 94,105.

Spot Gold and Silver Prices

According to Reuters, spot gold climbed 0.8% to USD 2,818.99 per ounce at 1:45 p.m. ET (1845 GMT). Previously in the trading hour, it reached an all-time record high of USD 2,830.49 due to strong demand for the precious metal. US gold futures followed suit, closing 0.8% higher at USD 2,857.10, aided by the optimistic atmosphere around gold prices. Meanwhile, spot silver surged 0.8%, topping $31.56 per ounce.

Expert Analysis on Gold Price Movement

According to the India Bullion and Jewelers Association, as featured in the Nirmal Bang securities report, "Gold rose to a new all-time high on Monday amid a rush to safer assets after US President Donald Trump imposed tariffs on Canada, Mexico, and China, while threatening to do the same against the European Union. Bullion advanced as much as 1.2% to $2,830.74 an ounce, surpassing the previous record reached Friday, before paring gains after Trump agreed to delay tariffs against Mexico for a month following a talk with his Mexican counterpart. Investors still parked their money in havens such as gold and the Japanese yen on concerns of the impact of Trump's measures on the global economy and monetary policy, while global stocks and cryptocurrencies slumped. The US on Saturday announced tariffs of 25% on goods from Canada and Mexico and 10% on those from China, set to take effect Tuesday. Canadian energy imports will face a 10% levy. Ottawa unveiled 25% counter-tariffs on US goods, Mexico pledged retaliatory actions, and Beijing issued a statement vowing 'corresponding countermeasures.'. Trump has also threatened tariffs against the EU, which said it would respond firmly. "These tariffs create a strong tailwind for gold," Bank of Montreal analysts wrote in a note. "Not only because of their inherent inflationary effects but also as the USA's increasingly hawkish foreign policy may accelerate de-dollarization plans."