Gold Rates Fall in Bangalore on January 18: 22K Gold Drops by Rs 1,600, Silver Holds Steady

Bangalore gold prices today experienced a decline following four consecutive days of strong bullish momentum earlier this week. The initial days of the week saw a steady increase in prices, but the trend reversed today due to the pressure from rising US dollar value and increasing treasury yields, which have weighed down on the spot gold market.

As of today, 24-carat gold rates in Bangalore per 10 grams stood at Rs. 81,110 after dropping Rs. 160 per 10 grams. Similarly, 10 grams of 22-carat gold in Bangalore currently cost Rs. 74,350, which slipped by Rs. 150 per 10 grams. Just like that, the 18-carat gold rate is currently standing at Rs. 60,830, which slipped by Rs. 130 per 10 grams.

For bulkier quantities, 100 grams of 22-carat gold now retails at Rs. 743,500, which dipped by Rs. 1500, and the 24-carat gold per 100 grams fell by Rs. 1600 to cost Rs. 811,100.

Bangalore Gold Prices Dip After Strong Week

Gold prices are now slightly lower, providing some relief after a strong surge earlier this week. Gold prices in Bangalore rose by 1.85%, marking one of the best weeks of the year so far. Despite the increase in prices, buying sentiment remained hesitant, but with prices now dipping, demand is expected to rise in the coming days.
The domestic market is closely watching the upcoming announcement regarding the new fiscal policies, expected to be revealed on January 20th. The introduction of new policies could have a significant impact on the market, and it will be interesting to see how they shape the outlook for gold and other assets.

Gold Prices in Major Indian Cities

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

Silver Prices in Bangalore

Silver Prices In Bangalore today halted their third consecutive day of gains. 1 kg of white metal in Bangalore now costs Rs. 96,500, and 100 grams of white metal currently stands at Rs. 9,650 after surging Rs. 100.

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 0.01%, or 216 points, to reach their current trading value of Rs. 79,019. Silver futures, which are scheduled to expire on March 5, 2025, also saw a decrease during the session, and the prices fell by 0.11% to Rs. 91,504.

Spot Gold and Silver Price Updates Today

As per the latest report from Reuters, gold and silver prices experienced notable declines in the international market. Spot gold saw a dip of 0.4%, trading at USD 2,701.03 per ounce as of 3:10 p.m. ET (20:10 GMT). Similarly, U.S. gold futures settled marginally lower, slipping 0.1% to close at USD 2,748.70 per ounce. Silver followed a sharper downward route, with spot silver prices dropping by 2% to USD 30.17 per ounce.