Gold Prices In Bangalore Weekly Recap (10-15 Feb); Gold Gains Big This Valentine Week; Check Gold Rates

Gold prices in Bangalore have been on a constant rise since the beginning of this week. The occasion of Valentine's Day also gave a big boost to gold rates in Bangalore, as the younger crowd is increasingly viewing gold not only as a gifting option but also as a financial investment.

Apart from festive demand, several other factors are contributing to the surge in gold prices. Global economic trends, fluctuations in the U.S. dollar, and escalating trade wars are pushing the gold prices higher in Bangalore.
As of today, i.e., 16th February 2025, the 24-carat gold stood at Rs. 86,070 per 10 grams, while the 22-carat gold rate in Bangalore was priced at Rs. 78,900 per 10 grams. The 18-carat gold rate in Bangalore is currently at Rs. 64,560 per 10 grams.

Weekly Price Movement

Factors Influencing Gold Rates in Bangalore

• The U.S. dollar has been on a downward trend this week, touching a yearly low. This decline has significantly supported rising gold prices, as a weaker dollar makes gold more attractive to investors.
• U.S. retail sales plunged in January, marking the biggest drop in nearly two years, as Reuters reported. This slowdown has raised concerns about economic growth in the first quarter.
• The decline in the U.S. Treasury yields has also contributed to the rise in gold prices.
• Growing trade tensions between the U.S., Mexico, and China have also had a significant impact on gold prices.

Market Outlook for the Upcoming Week

According to ICICI Direct Research, "Gold is expected to hold above $2900 and trade with positive bias amid safe haven buying. The looming threat of tariffs would strengthen investment demand and increase inflows. Further, strong physical demand in the US and UK amid the tariff threats would support the bullion to trade higher. Moreover, the expectation of weak retail sales numbers would again weigh on the dollar and support the bullion to trade higher. On the data from the unwinding of OI in ATM and OTM call strikes, it indicates prices to move higher. The call base is sifting higher from USD 2950 to USD 3000 in COMEX Gold futures."

"MCX Gold April is expected to hold its gains above Rs.85,200 and move higher towards the Rs.86,500 level. • Sop silver is expected to hold the 10-day EMA support at USD 32.00 and rise towards $32.65. Above USD 32.65, it would open the doors towards USD 33.40. MCX Silver March is expected to hold the support near Rs.94,500 and trade higher towards Rs.96,600. "

Latest Spot Gold and Spot Silver Prices

At the close of Friday's trading, spot gold fell 1.6% to USD 2,882.99 per ounce as of 1:40 p.m. ET (18:40 GMT). Despite the decline, gold remained on track for a weekly gain of 0.8%, having hit a record high of USD 2,942.70 on Tuesday. U.S. gold futures settled 1.5% lower at $2,900.70. Meanwhile, spot silver edged down 0.3% to $32.27 per ounce, according to Reuters.