Gold Prices In Bangalore Unchanged Once Again; Latest Prices Of 24K, 22K, 18K On August 5, Silver Price Dips

Gold prices in Bangalore stayed steady on August 5 after stock markets globally entered into a rout. Sensex and Nifty also tumbled by about 2.7% each. The prices of yellow metal are unchanged for the second consecutive day. However, this was not the case with silver, as 1 kg of this precious metal dipped by Rs 750.

Rahul Kalantri, VP of Commodities, Mehta Equities said, gold and silver exhibited significant price volatility last week, experiencing gains in the international markets. Gold prices reached a lifetime high amid hopes for Fed rate cuts and disappointing US job data. Silver followed suit, surpassing $28.50 per troy ounce. However, both precious metals were unable to sustain these highs, declining after weaker-than-expected US job reports and factory orders data, which heightened recession fears.

Further, Kalantri added, the Japanese Yen made a strong comeback against the US dollar, increasing volatility in global financial markets. Despite this, gold and silver prices dipped from their peaks but found support due to dollar weakness and escalating tensions in the Middle East.

Gold Prices In Bangalore On August 5:

24K gold price in Bangalore stood at Rs 70,580 in 10 grams, while 100 grams is at Rs 7,05,800. Also, the 8-gram and 1-gram price is at Rs 56,464 and Rs 7,058 respectively.

Further, the 22K gold price stood at Rs 6,47,000 in 100 grams, Rs 64,700 in 10 grams, Rs 51,760 in 8 grams, and Rs 6,470 in 1 gram.

Coming to 18K, 100 grams at Rs 5,29,400, and then further to Rs 52,940 in 10 grams, at Rs 42,352 in 8 grams, and at Rs 5,294 in 1 gram.

Gold prices unchanged were also on August 4, while down by Rs 1,100 in 24/100 grams on August 3rd. This yellow metal price rose by Rs 3,300 on August 3rd, surged by Rs 5,400 on August 2, and an increase of Rs 8,700 on July 31. From July 31 to August 2nd, this carat in 100 grams jumped by Rs 17,400.

Silver Prices In Bangalore:

1Kg silver price stood at Rs 85,000, down by Rs 750 on August 5th from the previous day's Rs 85,750. While 100 grams is lower by Rs 75 to Rs 8,500, and 10 grams is down by Rs 7.50 to Rs 850. Further, 8 grams and 1 gram are lower by Rs 6 and Rs 0.75 to Rs 680 and Rs 85.

Looking ahead, Kalantri said, "Gold has support at $2418-2398 and resistance at $2454-2474. Silver has support at $28.10-27.88 and resistance at $28.64-28.85. In INR, gold has support at Rs 69,150-68,880 and resistance at Rs 69,790-70,050. Silver has support at Rs 82,020-81,450 and resistance at Rs 83,290-83,840."

Apart from checking gold rates in Bangalore, you need to look at making charges as well. Making charge is a charge which is added to the price of the jewelry before arriving at the final sale price. The making charges for an ornament may vary depending upon the type of jewelry a customer is purchasing. It also depends on the fine detailing required while manufacturing the jewelry.