Gold Prices Rise In Bangalore: 24K/100 Grams Jump By Rs 8,100; Lowest Price Of Silver At Rs 92.85

Gold prices performed to second consecutive weekly gains as expectations of Fed rate cut heightened which lifted the demand for non-yield assets like bullion. In Bangalore, 24K gold price in 100 grams soared by Rs 8,100 to Rs 7,32,500, while 22K and 18K gold prices climbed sharply by Rs 7,500 and Rs 6,100 respectively in a single-day. Meanwhile, 1 Kg silver prices was slightly shy of Rs 93,000 mark, while the cheapest silver was at Rs 92.85.

22K gold prices in 100 gram stood at Rs 6,71,500, jumps by Rs 7,500 from the previous day. 10 grams climbed by Rs 750 to Rs 67,150, 8 grams was up by Rs 600 to Rs 53,720, and that of 1 gram picked up by Rs 75 to Rs 6,715 on June 21.

Further, 24K of 100 grams gold was priced at Rs 7,32,500, with the highest increase of Rs 8,100 from the previous day. Price of 10 grams soared by Rs 810 to Rs 73,250, 8 grams surged by Rs 648 to Rs 58,600, and 1 gram is up by Rs 81 to Rs 7,325.

Meanwhile, 18K gold of 100 gram soared by Rs 6,100 to Rs 5,49,400, while 10 grams surged by Rs 610 to Rs 54,940, 8 grams is up by Rs 488 to Rs 43,952, and lastly 1 gram is at Rs 5,494 up by Rs 61.

In case of silver prices, 1Kg is at Rs 92,850, up by Rs 100. Meanwhile, 100 grams of silver is up by Rs 10 to Rs 9,285, 10 grams is up by Re 1 to Rs 928.50. Also, 8 grams and 1 gram of gold is at Rs 742.80 and Rs 92.85.

However, gold prices have pared early gains of Friday in the international market.

As per Forex Street data, Gold (XAU/USD) has reversed earlier gains and broken back below its 50-day Simple Moving Average (SMA) on an intraday basis after the release of US Purchasing Manager Indices (PMI) data from S&P Global showed activity levels remained robust in both sectors in June.