Sharp Jump In Bangalore Gold Rate Today, July 18; Check Today's 24K, 22K, 18K Gold & Silver Prices

Gold rate today spiked swiftly on Saturday after two consecutive days of decline. This entire week has been bearish for yellow metal since it fell by Rs. 11,600 per 100g in the last five days.

The bearish phase of gold in the domestic market has been due to the trends in the international al spot prices which fell almost 3% this week.

"Gold and silver dropped sharply this week as the U.S.-Iran conflict pushed oil prices higher, stoking inflation fears and reinforcing expectations of sustained high U.S. interest rates." said Prithviraj Kothari, Managing Director at RiddiSiddhi Bullions Ltd., President of IBJA and Chairman at Jain International Trade Organisation

"Softer U.S. inflation data reduced the odds of a July rate hike, though Fed Chair Kevin Warsh maintained his inflation-fighting stance, with markets now pricing a 73% chance of a December hike. Technically, gold's next move hinges on the Iran situation, while silver has broken key support and is eyeing $50-51 next," he further added.

Gold rate in Bangalore today

On July 18th, the 22-carat gold rate in Bangalore stood at Rs. 1,31,350 per 10 grams after rising by Rs. 700. Meanwhile, the 24-carat gold price in Bangalore is now retailing at Rs. 1,43,290 per 10 grams, up by Rs. 760 per 10 grams. Meanwhile, the 18-carat gold is currently priced at Rs.1,07,470, after increasing by Rs.570 per 10 grams.

MCX Gold and Silver Futures Update

Trading on the Multi Commodity Exchange (MCX) is closed today, with gold futures that will mature on August 5 closed on Friday with gains at Rs. 1,41,006 after rising by 0.47%. Similarly, silver futures, which are set to expire on September 4, also rose by 0.02%, settling at Rs.2,16,449 on Friday, July 18.

Silver Prices Today in Bengaluru

Silver prices in Bangalore today stood stable at Rs. 2,30,000 after a drop of Rs. 5000. Meanwhile, 100 grams of silver is currently priced at Rs 23,000 in the city.

Spot Gold and Spot Silver Prices Today

As per the latest Trading Economics, "Gold remained below $4,000 an ounce on Friday and was down more than 3% for the week, as escalating US-Iran tensions drove oil prices higher, fueling inflation concerns and strengthening expectations that the Federal Reserve will keep interest rates elevated.

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