Massive Rs. 3800 Spike in Gold Rates in Bangalore Today: Major Rally Across All Purities, Silver Firm

Gold prices in Bangalore today jumped while the US dollar softened from its peak levels. Over the past few trading sessions, the gold market has been observing slow and subdued momentum with no major change in the rates.

As of today, gold rates in Bangalore extended a rally with 22-carat gold rising to Rs. 72,600 per 10 grams, reporting gains of Rs. 350. Similarly, the pure 24-carat gold rates in Bangalore per 10 grams spiked from Rs. 380 to cost Rs.

22-carat gold per 100 grams rose by Rs. 3,400, bringing the prices to Rs. 726,000. In a similar manner, the 24-carat gold per 100 grams surged Rs. 3,700 to retail at Rs. 792,000.

Gold Shines After a Quiet Week

Gold trading remained relatively flat over the past four days, lacking any major enthusiasm or fresh demand from the public. As a result, gold prices in Bangalore showed minimal movement during this period. However, today's rally in Bangalore gold prices can be largely attributed to a softer dollar, which has made the metal more attractive to investors.

The upcoming release of U.S. macro and microeconomic data is expected to have a significant impact on the commodity market and could drive further fluctuations in gold prices. Spot gold today is trading in the red zone, due to some profit-taking by investors, as prices had reached a three-week high yesterday. Insights from the Federal Reserve in the coming days will play a key role in shaping gold's movements.

Gold Prices in Major Indian Cities

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

Silver Prices in Bangalore

Bangalore silver prices remained unchanged compared to yesterday. Currently, the price of 1 kilogram of silver stands at Rs. 92,400, while 100 grams of silver is priced at Rs. 9,240.

Gold And Silver Future Price On MCX

On the Multi Commodity Exchange (MCX), the gold futures for February 5th, 2025, delivery are trading lower by 0.19%, at Rs. 77,386 per 10 grams. Similarly, the silver futures for the March 5th, 2025, expiry are extending losses today by 0.23%, trading at Rs. 90,667.

Spot Gold and Silver Prices Today

According to a fresh Reuters report, spot gold prices sank slightly on Thursday morning after hitting their highest level in over four weeks the day before. As of 0353 GMT, spot gold was down 0.1% to USD 2,659.62 per ounce. Meanwhile, U.S. gold futures gained 0.2% to USD 2,678.30. Spot prices for silver held unchanged at USD 30.12 per ounce.