Gold Prices Drop in Bangalore on November 30; 22k Gold at Rs. 71,500, Silver Stable

Gold prices in Bangalore today declined again after registering gains on Friday which was supported by the weakness in the US dollar which fell to its lowest level in the last two weeks.

The 22-carat gold rate in Bangalore today slipped by Rs. 100 per 10 grams to cost Rs. 71,500, while the 24-carat gold prices dipped by Rs. 110 to settle at Rs. 78,000, and the 18-carat gold rate decreased by Rs. 80 to cost Rs. 58,500.

Similarly, 100 grams of 24-carat gold in Bangalore is currently priced at Rs. 7,80,000, which slightly increased by Rs. 1,100, and 22-carat gold is now standing at Rs. 7,15,000, dropping Rs. 1,000.

Gold Performance in November:

As November comes to an end, gold, often referred to as the "yellow metal," has experienced notable price volatility. The metal recorded a 3% decline this month, its largest monthly drop in 14 months. Major factors for this fluctuation included the U.S. presidential election, which spurred a sell-off, and geopolitical tensions that provided occasional support to prices.

In India, gold prices began the month on a strong note, fueled by peak festive demand. However, as the festive season concluded and demand softened, prices retraced to lower levels. With the arrival of the wedding season, prices rebounded, but they did not reclaim earlier highs. The wedding demand has helped stabilize the market, offering a positive outlook for the months ahead. Looking forward, the seasonal demand in India will continue to influence gold prices and the wedding season could sustain a moderate recovery.

Gold Prices In Other Major Indian Cities

All cities in India are observing a similar decline in Yellow metal prices. Here are rates in some of the major cities:

Cities	24 carat	22 carat
Delhi	₹ 78,150	₹ 71,650
Mumbai	₹ 78,000	₹ 71,500
Chennai	₹ 78,000	₹ 71,500
Kolkata	₹ 78,000	₹ 71,500

Silver Prices in Bangalore Today

Silver rate in Bangalore for 1kg of white metal is Currently at Rs. 91,500 while for 100g of silver costs Rs. 9,150. Silver prices today observed Changes after the rise that was seen yesterday.

Gold And Silver Future Prices On MCX

On the Multi Commodity Exchange (MCX), the gold futures for December 5th delivery closed yesterday at Rs. 76,400 per 10 grams, rising by 0.89%. In a similar fashion, silver futures for the December 5th expiry are also experiencing a massive rise yesterday and closed at Rs.89,930 with 0.06%.

Spot Gold and Spot Silver Rates

According to a recent report from Reuters, gold prices rose on Friday, supported by a weakening dollar and ongoing geopolitical concerns. Spot gold climbed 0.5% to $2,652.71 per ounce by 1:40 p.m. ET (1840 GMT), reflecting some recovery after a sharp drop earlier in the week. However, the metal remained on track for a weekly loss of over 2% and its worst monthly decline since September last year. This downturn followed a sell-off triggered by post-election market reactions to Donald Trump's victory.

Meanwhile, U.S. gold futures settled 0.6% higher at $2,681. Spot silver also saw gains, rising 0.9% to $30.54 per ounce, indicating a parallel upward movement in precious metals. The interplay between geopolitical uncertainty and currency fluctuations continues to influence gold's appeal as a safe-haven asset.