Gold Prices In Bangalore On June 25; Yellow Metal Prices In 17 Days After Sharpest Fall Of Rs 20,800

Gold prices in Bangalore are unchanged on Tuesday, June 25, 2024. However, the prices have fallen sharply since the election outcome on June 4, 2024. 24K/100 grams of gold is down by 7,900. In the last ten days, the most fall was witnessed on June 22. In the month so far, the sharpest decline was Rs 20,800 a few days after the election. Overall, in June, both 22K and 24K yellow metal prices are down.

Gold Prices In Bangalore On June 25:

24K Gold Prices: 100 grams of 24K is at Rs 7,22,300, while 10 grams is at Rs 72,230. Meanwhile, the cheapest price in 24K is Rs 7,223 for 1 gram.

22K Gold Prices: 22K of 100 grams stood at Rs 6,62,500, while 10 grams is at Rs 66,250. Here, the cheapest price is 1 gram at Rs 6,625.

18K Gold Prices: 100 grams of 18K is at Rs 5,42,100, and that of 10 grams is at Rs 54,210. The cheapest gold of 1 gram is at Rs 5,421, which is also the cheapest price overall.

Notably, gold prices in Bangalore are unchanged despite tumbling in spot gold as investors await key US inflation data which may provide further clues on the Fed's rate cut stance ahead.

Also, Kaynat Chainwala, AVP-Commodity Research, Kotak Securities said, "Comex Gold trade in a narrow range as traders keenly await Core PCE, Fed's preferred inflation gauge for fresh clues on the timing of potential future rate cuts.

Gold Prices In Over 3 weeks:

On the day of the election, June 4, 24K/100 gold prices surged massively by Rs 7,600 in a single day to Rs 7,30,200. The prices further jumped to touch Rs 7,37,500 on June 7 as the poll results flavoured out. However, this month, gold saw its steepest fall on June 8 by a mind-boggling Rs 20,800.

In the last 10 days, gold prices have fallen on four days out of 10, which are June 17, June 18, June 22, and June 24. While prices were unchanged on four days as well on June 16, June 19, June 23, and June 25. While the rest of the time gold was up which was on June 20, and June 21. Hence, there has been little room for gold to rise.

Since the steepest fall on June 8, gold has risen at a slower pace to the tune of Rs 5,600 in 17 days.

Gold Prices Weekly Outlook:

For the current week from June 24-28, Chainwala said, COMEX Gold prices closed higher at the start of the week, amid haven bids from an escalation in geo-political tensions and as investors weighed key US data this week for clarity on the Federal Reserve's timeline for interest rate cuts."

The analyst said, " A chorus of Federal Reserve officials last week emphasized the need for more evidence of cooling inflation before lowering interest rates, with a couple of policymakers offering insight into the potential timing of such a move. On the geopolitical front, a proposal to end the 8-month Gaza war is in doubt after Israeli Prime Minister Netanyahu agreed only to a "partial" cease-fire. Friday's core PCE price index, the Fed's preferred inflation measure, US Final GDP and several comments from Fed officials will be in the spotlight."

Gold Prices In Bangalore Compared To Other Cities:

Gold Prices In Delhi: 24K/100 grams is at Rs 7,23,800, while 10 grams is at Rs 72,380.

Gold Prices In Kolkata: 24K/100 grams is at Rs 7,22,300, and 10 grams is at Rs 72,230.

Gold Prices In Chennai: 24K/100 grams is at Rs 7,28,800, while 10 grams of the same carat is at Rs 72,880.

Gold Prices In Mumbai: 24K/100 grams is at Rs 7,22,300, and that of 10 grams is at Rs 72,230.

Gold Prices In Kerala: 24K/100 grams is at Rs 7,22,300, and 10 grams is at Rs 72,230.