Gold Rates In Bangalore Today: Yellow Metal Gets Cheaper; Falls By Rs. 2,700 For 24K/100 Grams

Gold rates in Bangalore today fell further after they saw no changes in the price of gold yesterday. The yellow metal saw a decline in global gold as the stronger than expected US data was released. The gold rates in India is following the global trend of demand and supply and is thus witnessing fluctuations

Gold prices in Bangalore: 24K gold declined by Rs.2,700 for 100 grams reaching Rs.7,18,900 from Rs.7,21,600 on previous day. 10 grams went down by Rs.270, reaching Rs.71,890 compared to Rs.72,160 yesterday. While 8 grams decreased by Rs.216 reaching Rs.57,512 in contrast to RS.57,728 yesterday. Lastly, 1 gram gold declined by Rs.27 reaching 7,189 from Rs.7,216 the previous day.

The 22K gold declined by the same rate. 100 grams went down by Rs.2,500 thus reaching Rs.6,59,000 against Rs.6,61,500. Similarly, 10 grams decreased by Rs.250 touching the mark of Rs.65,900 in contrast to Rs.66,150 the previous day. The 8 grams of gold declined by Rs.200 reaching Rs.52,720 compared to previous day's closing of Rs. 52,920. Lastly, 1 gram of gold went down by Rs.25 to Rs.6,590 against Rs.6,615 the last day.

In the case of 18K, 100 grams went down by Rs.2,030 reaching Rs.5,39,200 compared to Rs.5,41,230 the previous day. Whereas, 10 grams of gold decreased by Rs.203 reaching Rs.53,920 in contrast to Rs.54,123 the previous day. 8 grams of gold went down by Rs.162.4 reaching Rs.43,136 against Rs.43,298.4 the previous day. Lastly, 1 gram of gold declined by Rs.20.3 reaching Rs. 5,392 against Rs.5,412.3 in the previous day's closing.

The rise in geopolitical tension in the Middle East is also one major factor that might affect the global gold rates. The latest news of the IDF launching strikes in Lebanon after Hezbollah, a Lebanon-based militia group backed by Iran, fired around 40 rockets at Israel. This further raised the tensions of escalation among the countries.

Apart from this, the investors are looking forward to the rate cuts by the Fed after the economy is showing positive cooling effects. On Wednesday, the Federal Reserve maintained its current interest rates and forecasted just one rate cut for the year 2024, despite seeing some improvements in inflation. This decision comes as growth and unemployment remain at levels that the central bank deems healthier in the long term.

Gold rates in some of the major cities in southern India

Gold rates in Chennai for 24K 10 grams is at Rs.72,550 which has gone down by Rs.110. The rate for 22K gold in Chennai is Rs.66,500 for 10 grams. Lastly the 18K Gold in Chennai is at Rs.54,470 which has decreased by Rs.90.

Gold rates in Trichy for 24k 10 grams is at Rs.72,550, which has gone down by Rs.110. The 22K gold rate is at Rs.66,500 which has decreased by Rs.100. Lastly, the 18K gold for 10 grams is at Rs.54,470, which has declined by Rs.90.

Gold rates in Coimbatore for 24k 10 grams is at Rs.72,550, which has gone down by Rs.110. The 22K gold rate is at Rs.66,500 which has decreased by Rs.100. Lastly, the 18K gold in Coimbatore for 10 grams is at Rs.54,470, which has declined by Rs.90.