Gold Prices Bangalore: 24K/100 Grams Steady After Rs 5,500 Jump In 2 Days; Cheapest Gold At Rs 5,531

Gold prices remained steady on July 13, with cheapest yellow metal at Rs 5,531, while most expensive gold is nearing Rs 7.38 lakh. Silver prices are also steady with 1 gram of this precious metal at Rs 95, and 1Kg price above Rs 95,000. After a volatile start, gold and silver prices traded for third weekly surge. In July so far, 22K, 18K, and 24K gold prices advanced by over 2%.

The spot gold ended the week above $2,400 per ounce, with weekly gains of over 1%. Meanwhile, US gold futures was above $2,420.

In the coming week, Indian stock market may react cautiously after CPI inflation data that rose higher-than-expected to 5.08% in June, due to rising food prices. A surge in inflation could lift gold prices, as the safe haven assets are seen among the best investment options to hedge returns against inflationary pressure. RBI governor Shaktikanta Das also recently stated that it is too early to talk about rate cuts.

However, the probability of a rate cut by the US Federal Reserve in September, rose to 94% which will be another key boosting factor for gold as lower interest rates make non-yielding assets attractive. This optimism comes after US producer prices witnessed a mild upside in June, which signalled that inflation has taken a downward turn.

Gold Prices In Bangalore On July 13:

24K gold prices in Bangalore stood at Rs 7,37,500 for 100 grams, at Rs 73,750 for 10 grams, at Rs 59,000 for 8 grams, and at Rs 7,375 for 1 gram.

While 22K gold prices in 100 grams stood at Rs 6,76,000, while 10 grams is at Rs 67,600, 8 grams at Rs 54,080, and 1 gram price is at Rs 6,760.

Further, 18K gold prices are available at Rs 5,53,100 in 100 grams, Rs 55,310 in 10 grams, Rs 44,218 in 8 grams, and Rs 5,531 in 1 gram.

Gold Prices Weekly Performance:

After no change in 24K/100 grams on July 7th, the gold price in this carat dropped by Rs 2,200 on July 8 and further recorded its biggest single-day decline of July by Rs 3,800 on July 9. But after that, the tide in gold prices reversed as it resorted to gaining momentum.

The price was unchanged on July 10, then shot up by Rs 2,200 on July 11, and later ahead increased by Rs 3,300 on July 12. On July 13, gold price remained unchanged after surging by Rs 5,500 for 2 days.

The 10-day average gold rate in 24K of 1 gram is at Rs 7,337, and the 20-day average rate is at Rs 7,281. Further, the 30-day average gold rate is at Rs 7,268.

There are various types of gold, including physical gold, ETFs and gold bonds that you can invest in. Also, it is important to track live gold prices in Bangalore, if you are buying large quantities of gold.

In July so far, 22K and 24K gold prices surged by over 2% each.

Silver Prices In Bangalore:

Silver prices are also unchanged on July 13. 1 Kg silver is at Rs 95,500, while 100 grams is at Rs 9,550 and 10 grams is at Rs 955.

The cheapest silver is at Rs 95 in 1 gram.