Gold Prices Fall in Bangalore: Silver Also Declines

Gold Prices Dip in Bangalore, Silver Also Sees a Drop

Gold prices in Bangalore experienced a slight decrease at the start of the week, providing some relief to buyers. This dip comes as the U.S. dollar strengthened by 0.3% due to trade tensions between the U.S. and Colombia. Investors are also keenly awaiting the Federal Reserve's meeting on January 28-29, where policymakers are expected to maintain interest rates. The focus is on how the central bank will respond to former President Trump's early trade policies, which could significantly affect both gold prices and investor sentiment.

Current Gold Rates in Bangalore

As of today, January 27th, here are the gold rates in Bangalore:

• 24-carat gold: ₹82,250 per 10 grams, a decrease of ₹170 per 10 grams.
• 22-carat gold: ₹75,400 per 10 grams, down by ₹150 per 10 grams.
• 18-carat gold: ₹61,690 per 10 grams, a decrease of ₹130 per 10 grams.

For larger quantities:

• 100 grams of 24-carat gold: ₹8,22,500, a decrease of ₹1,700.
• 100 grams of 22-carat gold: ₹7,54,000, down by ₹1,500.

Market Dynamics

The past week saw a bullish trend in the gold market, with prices rising due to increased demand. However, today's opening saw a slight decline in Bangalore. Despite this, demand for gold remains strong, and the price drop may benefit potential buyers. Former President Trump's decision to increase tariffs for Colombia has strengthened the U.S. dollar, now trading at 107.72, up by 0.26%. The upcoming Federal Reserve policy meeting is expected to significantly impact gold rates in India and globally.

Gold Prices in Major Indian Cities

Most Indian cities experienced a decline in gold prices. Here are the rates in some major cities:

• Delhi: 24 carat - ₹82,400, 22 carat - ₹75,550
• Mumbai: 24 carat - ₹82,250, 22 carat - ₹75,400
• Chennai: 24 carat - ₹82,250, 22 carat - ₹75,400
• Kolkata: 24 carat - ₹82,250, 22 carat - ₹75,400

Silver Prices in Bangalore

Silver prices in Bangalore also saw a dip today, with rates per kilogram declining by ₹1,000 to ₹96,500. The price of 100 grams of silver is now ₹9,650, after a drop of ₹100.

MCX Gold and Silver Futures

On the Multi Commodity Exchange (MCX):

• Gold futures (Feb 5, 2025 expiry): Opened down by 0.23%, trading at ₹79,840.
• Silver futures (March 5, 2025 expiry): Declined by 1.08% to ₹90,606.

Global Spot Prices

In the international market, spot gold prices dropped by 0.6% to USD 2,755.79 per ounce, while U.S. gold futures also fell by 0.6%, settling at USD 2,761.20 per ounce. Spot silver saw a notable drop of 1.1%, falling to USD 30.26 per ounce. These declines come as investors await the Federal Reserve's policy meeting.

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Categories: Bangalore, gold prices, silver prices