Makar Sankranti Gold Sale: 22K Gold Prices in Bangalore Drop Rs. 1000 per 100g – See Today’s Rates!

Gold prices in Bangalore Today fell modestly as the entire country is in festive vibes. Gold market today broke out of 5 long days of rally and slipped in red. The recent stronger-than-expected US job report for December has shifted market focus to upcoming economic data. Investors are now awaiting the release of the US Consumer Price Index (CPI) for December, which could influence the Federal Reserve's stance on interest rates, directly impacting gold prices.

On 14th January 2025, 22 carat gold rates in Bangalore slipped by Rs. 100 per 10 grams while to cost Rs.73, 300. Whereas the 24 carat gold rate now retails at Rs. 79,960 per 10 grams after dropping by Rs. 110. Similarly the 18- carat Gold is now retailing at Rs. 59,970 per 10 grams which Slipped by Rs. 90.

Currently, 100 grams of 24-carat gold is priced at Rs. 7,99,600, down by Rs. 1,100, while 100 grams of 22-carat gold is priced at Rs. 7,33,000, reflecting a decrease of Rs. 1,000.

Bangalore Gold Prices Dip Just in Time for Makar Sankranti Festivities

As the harvest festival is celebrated across the country, the bullion market is witnessing a festive boost, with gold prices taking a slight dip, making the precious metal more affordable. The continuous rise in Bangalore gold prices had discouraged many buyers, but this recent fall comes as a welcome relief for both retailers and investors, as well as those seeking to purchase gold for the occasion. Gold, being an integral part of festivals, is now within reach for many, offering a perfect opportunity for those waiting for a price dip.

On the global front, spot gold experienced a modest rise, driven by a dip in the US dollar, which had been surging to higher levels. The US dollar index is currently at 109.63, down by 0.30%, providing some support to gold prices. Investors are now closely watching upcoming inflation figures, which are expected to have a positive impact on gold prices, further supporting the current uptick.

Gold Prices in Major Indian Cities

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

Silver Prices in Bangalore

Bangalore Silver prices today are extending gains of Rs. 100 per kilogram, which now costs Rs. 94,600, and 100 grams of white metal now cost Rs. 9,460.

Gold And Silver Future Price On MCX

On the Multi Commodity Exchange (MCX), the gold futures for February 5th, 2025, delivery surged by 54 points, or 0.07%, and are currently priced at Rs. 78,220. Meanwhile, silver futures, with a delivery date of March 5, 2025, are trading lower by 0.20%, shedding 183 points to Rs. 90,330.

Spot Gold and Silver Prices Today

According to the latest update from Reuters, Spot gold prices increased slightly on Tuesday, with spot gold rising by 0.3% to reach USD 2,669.53 per ounce as of 02:27 GMT. U.S. gold futures also gained 0.3%, trading at $2,685.50 per ounce. On the other hand, silver prices remained largely unchanged, with spot silver holding steady at USD 29.59 per ounce.