Gold Prices In Bangalore Today, Feb 24: 24K & 22K Gold Climb Rs. 1,000/100g; Silver Shines Brighter

Gold rates in Bangalore today surged slightly as the week began on a bullish note. With the equity markets under pressure, investors are increasingly turning to gold, which is driving the prices higher and continues to reach new highs. Meanwhile, the U.S. dollar index rebounded from its weekly lows, supported by better-than-expected February manufacturing PMI data, adding to market volatility.

As of 24th February, gold rates in Bangalore for 22-carat gold jumped slightly by Rs. 100 per 10 grams to cost Rs. 80,550. While the 24-carat gold rates spiked by Rs. 100 to retail at Rs. 87,870 per 10 grams. In a similar way, 18-carat gold rates currently cost Rs. 65,910, which spiked by Rs. 90 per 10 grams.

100 grams of 24-carat gold rates in Bangalore are now at Rs. 878,700 after witnessing the rise of Rs. 1,000, while the 22-carat gold in Bangalore also spiked by Rs. 1,000 to cost Rs. 805,500.

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. 1,01,000 per kg after rising by Rs. 500 per kg. The price of 100 grams of silver is currently at Rs. 10,010, which jumped by Rs. 50 per 100 grams.

Gold and Silver Future Price on MCX

Gold on the Multi Commodity Exchange (MCX) has touched a record high once again after crossing the 86,000 mark. Gold futures, expected to mature on April 4, 2025, jumped by 0.07% to trade at Rs. 86,070. Meanwhile, silver futures, with an expiry date of March 5, 2025, declined this morning by 0.04%, trading at Rs. 96,160.

As per the Commodity Research report from ICICI Direct. "MCX Gold April is expected to hold the support of ₹85,300 and move towards the ₹86,500 level. While MCX Silver March is expected to rise towards ₹97,200, as long as it holds above ₹95,200. Below ₹95,200 it would turn weaker. "

Spot Gold and Silver Prices Surge

As per the latest reroute report, "Spot gold traded at USD 2,925.63 per ounce, down 0.4%, as of 0204 GMT, after reaching a record high of USD 2,954.69 on Thursday. Meanwhile, U.S. gold futures slipped 0.5% to USD 2,939.30 per ounce. Similarly, spot silver edged down 0.4% to USD 32.42 per ounce, reflecting market fluctuations."

Gold Price Outlook

As per the Commodity Research report from ICICI Direct, "Gold is expected to find support near $2910 and move higher towards $2945 amid tariff concerns. A fresh round of tariffs this week by US administrations would again cause uncertainty and force investors to move towards safe assets. Further, increasing ETF holdings indicates a rise in investor interest, which could support prices to trade above $2910. Further, softness in the US dollar and weakness in US Treasury yields would support the bullion to regain its strength. Meanwhile, focus will remain on key economic numbers from the US, which could bring further volatility in price."