Gold Prices Bangalore, June 17: 24K/100 Grams Yellow Metal Prices Fall; Check Latest Prices

Gold rates in Bangalore today declined further after the cooler than expected US economic data affects the commodity market. Today also marks Eid al-Adha, the commemoration of Prophet Ibrahim's willingness to sacrifice his son as a sign of his obedience to God. During this occasion, people worldwide traditionally sacrifice permissible animals such as goats, sheep, and cows.

Gold prices in Bangalore: 24K gold declined by Rs.2,200 for 100 grams reaching Rs.7,23,300 from Rs.7,25,500 on previous day. 10 grams went down by Rs.220, reaching Rs.72,330 compared to Rs.72,550 yesterday. While 8 grams decreased by Rs.176 reaching Rs.57,864 in contrast to RS.58,040 yesterday. Lastly, 1 gram gold declined by Rs.22 reaching 7,233 from Rs.7,255 the previous day.

The 22K gold declined by the same rate. 100 grams went down by Rs.2,000 thus reaching Rs.6,63,000 against Rs.6,65,000. Similarly, 10 grams decreased by Rs.200 touching the mark of Rs.66,300 in contrast to Rs.66,500 the previous day. The 8 grams of gold declined by Rs.160 reaching Rs.53,040 compared to previous day's closing of Rs. 53,200. Lastly, 1 gram of gold went down by Rs.20 to Rs.6,630 against Rs.6,650 the last day.

In the case of 18K, 100 grams went down by Rs.1,700 reaching Rs.5,42,400 compared to Rs.5,44,100 the previous day. Whereas, 10 grams of gold decreased by Rs.170 reaching Rs.54,240 in contrast to Rs.54,410 the previous day. 8 grams of gold went down by Rs.136 reaching Rs.43,392 against Rs.43,528 the previous day. Lastly, 1 gram of gold declined by Rs.17 reaching Rs. 5,424 against Rs.5,441 in the previous day's closing.

Apart from this, the Chinese economic data which indicated that retail sales exceeded expectations with a 3.7% rise in May, while both industrial output and fixed-asset investment remained underwhelmed. The People's Bank of China (PBOC) decided to maintain its one-year rate unchanged, dashing some expectations of a cut after unexpectedly weak bank lending figures were released.

Gold price movement in past 1 week in Bangalore

On 10th June the price of gold in Bangalore for 22K/gram was Rs.6,570 which saw no price change. On 11th June the price was Rs.6,585, which saw an increase of Rs.15. On 12th June the price was Rs.6,615, which increased by Rs.30. On 13th June the price again saw no movement and was stable at Rs.6,615. On June 14th, the price was Rs.6,590 which decreased by Rs.25. On June 12th, the price of 22k/gram gold was Rs.6,650, which has increased by Rs.60. On June 16th the price was at Rs.6,650 which again saw no change.

Similarly, The silver rate in Bangalore today for 1 Kg is Rs.91,000 which has remained the same. Similarly 100 grams silver rate in Bangalore is Rs.9,100 which has maintained its position since yesterday. The rate of 10 gram silver is Rs.910, Lastly, 1 gram of silver in Bangalore is at Rs.91.

Gold rates in Bangalore saw a fresh decline. The price of yellow metal is seeing fluctuations after the strong US data was released in the global market.