Gold prices in Bangalore declined sharply by up to Rs 1,600 on Monday, September 30, 2024. This comes after third record high week by the yellow metal. On the other hand, silver prices jumped with 1 kg price rising by Rs 100. Meanwhile, 24K yellow metal prices dipped by Rs 16 to Rs 1,600, and that of 22K prices slipped by Rs 15 to Rs 1,500. Additionally, 18K gold prices dropped by Rs 12 to Rs 1,200.
Gold Prices In Bangalore On September 30, 2024:
24K gold prices in Bangalore slipped by Rs 1,600 in 100 grams to Rs 7,72,400. While 10 grams price shed Rs 160 to Rs 77,240. Further, 8-gram and 1-gram gold prices are down by Rs 128 and Rs 16 to Rs 61,792 and Rs 7,724 respectively.
Meanwhile, 22K gold prices are down by Rs 1,500 in 100 grams to Rs 7,08,000, while down by Rs 150 to Rs 70,800 in 10 grams. Also, 8 grams of gold is down by Rs 120 to Rs 56,640, and 1 gram is lower by Rs 15 to Rs 7,080.
Furthermore, the 18K gold price in 100 grams tumbled by Rs 1,200 to Rs 5,79,300, and plunged by Rs 120 to Rs 57,930 in 10 grams. Lastly, 8 grams and 1 gram of yellow metal are lower by Rs 96 and Rs 12 to Rs 46,344 and Rs 5,793 respectively.
Silver Prices In Bangalore On September 30, 2024:
On Monday, silver prices were up by Rs 0.10 to Rs 100. 1 Kg silver price is higher by Rs 100 to Rs 88,100, while 100 grams and 10 grams silver is up by Rs 10 and Rs 1 to Rs 8,810 and Rs 881 respectively.
The cheapest silver to buy is 1 gram which is at Rs 88.10 up by Rs 0.10, followed by 8 grams of silver that gained by Rs 0.80 to Rs 704.80.
According to Rahul Kalantri, VP of Commodities, Mehta Equities, gold and silver prices rose for the third straight week in the global market after the U.S. Fed undertook big interest rate cuts in September. The dollar also weakened, which helped push prices higher. However, both metals dropped slightly from their record highs as some investors sold to book profits. Gold is nearing $2,700 per troy ounce, and silver recently hit its highest level in 11 years. Gold and silver are gaining strength because of interest rate cuts by central banks around the world, stimulus efforts from China, and rising global tensions.
Kalantri added, "Gold has support at $2651-2640 while resistance is at $2684-2699. Silver has support at $31.42-31.24 while resistance is at 31.87-32.05. In INR terms, gold has support at Rs 74,750-74,570, while resistance is at Rs 75,190-75,380. Silver has support at Rs90,850-90,150, while resistance at Rs91,990-92,680."
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