Gold Prices Bangalore, Muharram; Gold At New All-Time High, 24K/100 Grams Up By Rs 9,800 ; 10 Grams At Rs 75K

Gold prices in Bangalore on July 17 touched a new all-time high, tracking international prices as investors' optimism for safe-haven assets surged on rate cut hopes in September policy by the US Federal Reserve. In the Silicon City of India, prices of 24K in 100 grams increased the most by Rs 9,800, which is the biggest jump of July in a single day. Also, 24K/10 grams touched Rs 75,000.

Meanwhile, the 22K/10 grams gold price is now just Rs 250 away from touching the Rs 69,000 mark. 8 grams price in 24K, 18K, and 22K touched Rs 60,000, Rs 45,000 and Rs 55,000, the highest level. The cheapest gold which is 1 gram of 18K also rose to over Rs 5,600.

This will be the second consecutive jump in gold prices in Bangalore. In 2 days straight, 24K/100 grams increased by Rs 13,600.

Tai Wong, a New York-based independent metals trader, told Reuters that "Gold surges to new all-time highs despite stronger-than-expected core retail sales data, encouraged by Powell indicating yesterday that the Fed was growing more confident that inflation was back on its way to target."

On Wednesday, US gold futures with August expiry touched a new lifetime high of 2,487.25. While spot gold hit a new record high of 2,482.41.

Also, prices in India skyrocketed during the occasion of a public holiday due to Muharram celebrated across India.

Gold Prices In Bangalore On July 17:

24K gold price in Bangalore stood at Rs 7,50,000 in 100 grams, rising by Rs 9,800 on July 17 compared to the previous day. While 10 grams price jumped by Rs 980 to Rs 75,000, 8 grams is available at Rs 60,000 up by Rs 784, and lastly, 1 gram is at Rs 7,500 up by Rs 98.

Meanwhile, 22K gold price in 100 grams is at Rs 6,87,500, up by Rs 9,000 on Wednesday. While 10 grams of gold is at Rs 68,750, higher by Rs 900. Further, 8 grams price is at Rs 55,000 up by Rs 720. Also, 1 gram of gold edged higher by Rs 90 to Rs 6,875.

Further, the 18K gold price in 100 grams is at Rs 5,62,500, increasing by Rs 7,300 in a single day. Also, the 10-gram price jumped by Rs 730 to Rs 56,250, while the 8-gram is up by Rs 584 to Rs 45,000. Additionally, 1 gram of gold is up by Rs 73 to Rs 5,625.

Gold Prices In Bangalore In 10 Days:

After a fall of Rs 1,100 on July 15 in 24K/100 Grams, gold prices have jumped mostly due to rate cut expectations high in the international market. Gold was up by Rs 3,800 on Tuesday, followed by the month's biggest single-day jump of Rs 9,800 on July 17.

The latest week's performance comes after gold price was muted on July 14 and July 13. While 24K/100 grams gold was up by Rs 3,300 on July 12, and also up by Rs 2,200 on July 11. Earlier, gold price was unchanged on July 10, after a decline of Rs 3,800 on July 9 and a drop of Rs 2,200 on July 8.

In 1 gram of 24K gold, the 10-day average gold rate is at Rs 7,374, while the 20-day average rate is at Rs 7,3117, and lastly 30-day average rate is at Rs 7,291.

Gold Prices In Bangalore Versus Other Cities:

Gold Prices In Mumbai: 24K/100 grams gold is up by Rs 9,800 to Rs 7,50,000 on July 17, while 10 grams price is at Rs 75,000.

Gold Prices In Delhi: Also, up by Rs 9,800, the 24K/100 grams gold is at Rs 7,51,500. While the 10-gram price is Rs 75,150.

Gold Prices In Chennai: The price of 24K in 100 grams also surged by Rs 9,800, however, this type of gold is the most expensive even compared to other cities. In Chennai, 24K/100 grams of gold is expensive at Rs 7,54,900, and that of 10 grams is at Rs 75,490.

Gold Prices In Kolkata: Gold is up by Rs 9,800 in 24K/100 grams to Rs 7,50,000, while 10 grams is at Rs 75,000.

Gold Prices In Hyderabad: In this city as well, 24K/100 grams of gold is at Rs 7,50,000, while 10 grams is at Rs 75,000.

Gold Prices In Kerala: 24K/100 grams of gold in this southern city, is at Rs 7,50,000, and that of 10 grams is at Rs 75,000.

Silver Prices In Bangalore On July 17:

Silver prices jumped across grams. 1 Kg silver is up by Rs 500 to Rs 94,750, while 100 grams is at Rs 9,475 up by Rs 50. Also, 10 grams is up by Rs 5 to Rs 947.50, 8 grams is up by Rs 4 to Rs 758, and 1 gram is up by Rs 0.50 to Rs 94.75 which is the cheapest silver.

Silver Prices In 10 Days:

1 Kg of Silver climbed after falling by Rs 200 and Rs 300 on July 16 and July 15. While prices were unchanged on July 14, July 13, and July 12. The prices were up by a whopping Rs 1,00o on July 11 and was further unchanged on July 10. Silver was down by Rs 500 on July 9, but up by Rs 200 on July 8.