Gold Prices in Bangalore Surge Over Rs. 5000/10g in 10 Days! Is It the Right Time to Invest?
Gold buyers across India are left astounded by the soaring prices of gold and silver. Gold prices in Bangalore have been rising since the Budget 2025 announcement, marking the third consecutive rise today. While the market eagerly anticipates any relief that could lead to a dip in gold prices, global trade tensions continue to fuel the bullish momentum in the precious metal market. The ongoing trade wars are driving demand for gold as a safe haven, keeping gold prices elevated during economic uncertainties.
Gold Price Trends in Bangalore
24-carat gold rates in Bangalore, on Feb 6, soared by Rs. 270 per 10 grams to cost Rs. 86,510. Meanwhile, 22-carat gold rates jumped by Rs. 250 to retail at Rs. 79,300 per 10 grams. Similarly, 18-carat gold rates in Bangalore spiked by Rs. 150 to cost Rs. 65,500 per 10 grams.
Is This the Right Time to Buy Gold?
Gold prices in Bangalore have surged by approximately Rs. 5,020 per 10 grams for 24-carat yellow metal in the last 10 days. With prices reaching such high levels, gold has become expensive for retail buyers, causing many to step back from making purchases. The upcoming RBI MPC 2025 meeting tomorrow is expected to have a significant impact on the commodity market, particularly if the central bank decides to cut interest rates.
Silver Prices in Bangalore Today
Silver prices in Bangalore today per kilogram currently cost Rs. 99,500 per kg after experiencing no movement today. The price of 100 grams of silver is currently at Rs. 9,950.
Gold and Silver Future Price on MCX
On the Multi Commodity Exchange (MCX), gold futures, expected to mature on April 4, 2025, jumped by 0.11% to trade at Rs. 84,660. Meanwhile, silver futures, with an expiry date of March 5, 2025, also slipped this morning by 0.29% at Rs. 95,684.
Spot Gold and Silver Prices
According to Reuters, spot gold remained steady at $2,870.16 per ounce by 0306 GMT, after reaching a record high of $2,882.16 in the previous session. U.S. gold futures declined by 0.2%, trading at $2,888.30. Meanwhile, spot silver saw a slight dip of 0.2%, settling at $32.26 per ounce.
Market Outlook for Gold
According to the India Bullion and Jewelers Association, "Gold pared gains from a new all-time high on Wednesday, as trade-war worries bolstered haven demand and there were continued signs of short-term tightness in the market. Bullion prices still held at elevated levels, supported by concerns about trade wars, particularly between the US and China. Markets are also waiting to see if there are any ripple effects for US monetary policy if tariffs reignite inflation."
Financial Disclaimer
Disclaimer: The views and investment tips expressed in this article are for informational purposes only and do not constitute financial advice. The opinions stated are those of the respective sources and do not necessarily reflect the views of this website. Investing in financial instruments involves risks. Readers should conduct their own research and consult a professional advisor before making any investment decisions. We are not responsible for any financial losses incurred.
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