Gold Rate in Bangalore Today: Prices Flat After Big Weekly Drop; Check 24K, 22K, 18K Rates & Silver Prices

Gold prices in Bangalore are stable on Monday after three consecutive drops seen last week where 24-carat gold dropped by around Rs .24,000 per 100 grams rejoicing retail gold buyers.

Since major festivals are around, such as Raksha Bandhan and Onam, customers are seeing this drop in gold rate and the stability today as a welcomed opportunity to plan purchases.

On the international front, gold prices rose slightly above the $3300 after the recent U.S.-EU trade deal, the U.S. Dollar Index slightly eased by 0.05% to 97.60, supporting gold price swings.

Gold rate in Bangalore today

As of 28th July, gold rates were stable with no major movement. The 22-carat gold rates in Bangalore cost Rs 91,600 per 10 grams, while the 24-carat gold rates stood at Rs 99,930 per 10 grams. Similarly, the 18-carat gold rates in Bangalore cost Rs 74,950 per 10 grams.

Similarly, 100 grams of 24-carat gold rates are now priced at Rs 9,99,300 while the 22-carat gold costs Rs 9,16,000. The 18-carat gold rates in Bangalore currently retail at Rs. 7,49,500.

MCX Gold and Silver Futures

On the Multi Commodity Exchange, Gold August Futures rose by 0.16% to Rs 97,977 per 10 grams. While the Silver September Futures climbed today by 0.02% to Rs 1,13,069 per kg on July 28th.

"MCX Gold Aug is expected to face strong resistance near the Rs. 98,500 level and move back towards the Rs. 97,000 level. While MCX Silver Sep is expected to slip towards Rs. 112,400 as long as it trades under the Rs. 114,500 level. Only below Rs. 112,400, it would turn bearish." according to the ICICI Direct Commodity Research Report.

Spot Gold and Spot Silver Price Today

As per the latest Reuters commodity report, "Spot gold was up 0.2% at $3,342.62 per ounce, as of 0421 GMT, after touching its lowest level since July 17. U.S. gold futures edged 0.2% higher to $3,342.90. Spot silver was up 0.2% at $38.21 per ounce."

"Spot Gold is likely to trade lower on a strong dollar and higher global treasury yields. Further, easing trade tariff concerns would lower safe haven appeal of the precious metals. Over the weekend US and EU have reached a trade agreement. The deal includes a 15% tariff on most European goods, significantly lower than the 30% originally threatened by the US. Meanwhile, further extension to the trade agreement between the US and China could limit the downside in bullion. Moreover, investors will remain cautious ahead of this week's key FOMC policy, which could bring more clarity on monetary policy," the report further stated.

Silver Prices Today in Bengaluru

Just like gold, silver prices today in Bangalore are stable at Rs. 116,000. Meanwhile, 100 grams of silver is currently priced at Rs 16,000 across India.

Gold Rate Chart In other TOP cities in India

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