Gold-Silver On Independence Day, Ekadashi: 24K/10 Grms Less By Rs 490 To Rs 72,000; Latest Prices In Bangalore

Gold and silver prices are steady on August 15 in Silicon Valley, Bangalore during the celebration of the 78th Independence Day and ahead of Shravana Putrada Ekadashi which will be celebrated on August 16. The commodities market in India is closed accordingly on Thursday. Notably, gold will be trending across retail stores in Bangalore on these two days.

In Bangalore, 24K of 10 grams is just Rs 490 away from hitting the Rs 72,000 mark, while the cheapest gold to buy is Rs 5,363. In the case of silver, the steep selling pressure in this precious metal has calmed and 1 gram of silver is available at as cheap as Rs 80.

Buoyed by a weak dollar and downward movement in US treasury yields coupled with geopolitical tensions and early rate cut hopes, gold support has been favorably firm.

Gold Prices In Bangalore:

24K gold price in Bangalore is at Rs 7,15,100 in 100 grams, while the 10 grams gold is available at Rs 71,510. Further, 8 grams and 1 gram price is at Rs 57,208 and Rs 7,151 respectively.

Also, 22K of gold in 100 grams is available at Rs 6,55,500. Additionally, 10 10-grams of gold is at Rs 65,550, that of 8 grams is at Rs 52,440 and 1 gram is at Rs 6,555.

Coming to 18K, 100 grams of gold is priced at Rs 5,36,300 on August 15, further, the price is at Rs 53,630 for 10 grams. Meanwhile, in smallest grams such as 8 grams and 1 gram are available at Rs 42,904 and Rs 5,363 respectively.

Average Gold Rates:

In Bangalore, the average 10-day gold rate is at Rs 6,455 and Rs 7,042 in 22K and 24K. The 20-day and 30-day average gold rates are Rs 6,430 and Rs 6,506 in 22K of 1 gram, and the prices are Rs 7,014 and Rs 7,097.

Kaynat Chainwala, AVP-Commodity Research, Kotak Securities said, "Comex gold consolidated near record highs, closing higher for the fifth consecutive session, buoyed by a weaker dollar and declining US Treasury yields as the US Producer Price Index (PPI) rose less than expected by 0.1% in July, compared to the anticipated 0.2%, while core producer prices remained unchanged.

Chainwala added that Softness in PPI combined with expectations of a modest increase in the Consumer Price Index (CPI), set the stage for potential interest rate cuts, pushing the dollar to a five-month low. Additionally, safe-haven demand for gold increased due to geopolitical tensions, with the US warning of a potential imminent attack on Israel by Iranian forces or their proxies, and reports indicating that the Ukrainian military had established a foothold inside Russian territory.

Silver Prices In Bangalore:

On August 15, 1kg of silver is available at Rs 80,000. Additionally, 100 grams of silver is at Rs 8,000, and 10 grams is at Rs 800. Lastly, 8 grams and 1 gram is at Rs 640 and Rs 80 respectively.

On MCX, gold futures with October expiry is at Rs 70,152 per 10 gram down by Rs 547 or 0.77%. While silver with September expiry stood at Rs 80,100 lower by Rs 949 or 1.17%. Trading on MCX is also closed on August 15.