Gold Prices Rise In Bangalore On Jan 20; 24K Yellow Metal Up Rs.1200, Silver At Rs. 96,500

Gold prices in Bangalore saw a significant spike as the week kicked off, mirroring global market rates influenced by the anticipation surrounding the inauguration of the U.S. President Donald Trump. The event has created a ripple effect across financial markets, with the U.S. dollar index weakening, thereby bolstering gold's appeal as a safe-haven asset.

On 20th January, the gold rates in Bangalore saw a spike as the 22-carat gold now costs Rs. 74,500 with a hike of Rs. 150. The 24-carat gold jumps Rs. 120 per 10 grams to cost Rs. 81,230. Likewise, 18, cart gold is now at Rs. 61,000, which jumped by Rs. 170

Bulkier quantities of gold also saw a similar rise. With 100 grams of 24-carat gold now costing Rs. 8,12,300, with the rise of Rs. 1200, and the 22-carat per 100 grams now retails at Rs. 7,45,000 which rose by Rs. 1500.

Bangalore Gold Prices Surge Again

Gold prices in Bangalore started the week with a sharp rise. Last week proved highly profitable for gold, with the bullion gaining over 1%, marking it as one of the best weeks of 2025 so far. The increasing market demand has driven prices upward once again.

On the international front, market participants are closely watching Trump's inauguration, with his trade tariff policies anticipated to fuel inflation and spark trade tensions, which could enhance gold's safe-haven appeal. Meanwhile, the Federal Reserve is expected to keep interest rates steady at its January 29 meeting, with potential rate cuts anticipated in March.

Gold Prices in Major Indian Cities

Most of the Indian cities observed this rise in gold prices today. Here are gold prices in some of the major cities:

Silver Prices in Bangalore

Silver Prices In Bangalore have remained constant from the past three days . Currently, 1 kg of white metal in Bangalore now costs Rs. 96,500, and 100 grams of white metal currently stands at Rs. 9,650 showing no major changes.

Gold And Silver Future Price On MCX

Gold futures, which are set to mature on February 5, 2025, on the Multi Commodity Exchange (MCX), dropped by 0.07%, or 53 points, to reach their current trading value of Rs. 78,970. Silver futures, which are scheduled to expire on March 5, 2025, also saw an increase despite gold falling during the session, and the prices spiked by 0.23% to Rs. 91,810.

Spot Gold and Silver Price Updates for Today

As per the latest market data from Reuters, spot gold experienced a slight dip of 0.1%, trading at $2,697.60 per ounce as of 0300 GMT. This follows a decline of 0.5% earlier in the day, reflecting some volatility in the precious metal's prices. U.S. gold futures also saw a decrease, dropping by 0.3% to $2,740.10, signaling a momentary pause in the bullish momentum seen in previous sessions. Spot silver, too, faced a downturn, falling by 0.6% to $30.16 per ounce. This price dip in silver comes as the market adjusts to ongoing economic signals and shifts in investor sentiment.