Gold Rate in Bangalore Retreats from Record Highs; 22K/100g Gold Falls Rs.5,500, Silver Slumps Rs.2,000

Gold rate in Bangalore today declined sharply for the third day in a row, with yellow metal prices tumbling by Rs. 18500 per 100 grams. The demand for gold in Indian and global markets is weak, and the dollar index has been declining for two weeks, putting pressure on gold prices. This has caused a continuous fall for three days.

All eyes are now on the Federal Reserve meeting scheduled for next week. Any major rate cuts will further push gold prices up. According to the latest report from the World Gold Council, gold is expected to remain range-bound or slightly rising prices for the second half of 2025, with a 0-5% potential increase from current levels.

Gold rate in Bangalore today

On 26th July, 22-carat gold rates in Bangalore slipped by Rs 550 per 10 grams to cost Rs 91,600 per 10 grams, while the 24-carat gold rates declined by Rs 500 to retail at Rs 99,930 per 10 grams. Similarly, the 18-carat gold rates in Bangalore dropped by Rs 410 per 10 grams to cost Rs 74,950.

For heavy weight quantities, 100 grams of 24-carat gold rates are now priced at Rs 9,99,300 after declining of Rs 5500, while the 22-carat gold fell by Rs 5000 to cost Rs 9,16,000. Just like that, 18-carat gold rates in Bangalore also experienced this fall and currently retail at Rs. 7,49,500.

MCX Gold and Silver Futures Update

At the end of Friday's trade, gold futures on the Multi-Commodity Exchange (MCX) maturing on August 5 are trading in red at Rs. 97,806 after declining 0.93%. However, silver futures, which are set to expire on September 5, extended gains 0.07% before ending at Rs. 113,130.

"MCX Gold Aug is expected to face strong resistance near the Rs 99,500 level and move back towards the Rs 98,000 level. While MCX Silver Sep is expected to move in the band of Rs. 114,000 and Rs. 116,200 levels. Only below Rs. 114,000, it would turn bearish," according to the ICICI Direct Commodity Research Report.

Spot Gold and Spot Silver Price Update

As per the latest Reuters commodity report, "Spot gold fell 0.9% to $3,336.01 per ounce by 02:01 p.m. ET (1801 GMT). U.S. gold futures settled 1.1% lower at $3,335.6. Spot silver fell 2.3% to $38.2 per ounce."

Gold Price Forecast

Spot gold dropped by over 0.50%, slipping below $3400 per ounce, as hopes grew around trade deals between the US and its major partners. Silver also declined by around 0.63%. However, mixed economic data from the US helped prevent a bigger fall in gold prices.

"Federal Reserve will hold rates steady at its meeting next week, but markets are still pricing in a potential rate cut in September. Meanwhile, renewed tensions between President Trump and Fed Chair Powell also drew attention, as they clashed over the central bank's renovation costs. Trump repeated his call for lower rates but said the renovation issues weren't enough to justify firing Powell. Still, gold remains on track for a modest weekly gain." as per Trade Economics.

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