Gold Rate Today In Bengaluru Surges For 2nd Day: Prices Jump Across 22K, 24K,18K Purities; Silver Also Rallies

Gold rate in Bengaluru today rallied sharply for the second straight session, with 24-carat yellow metal prices rising by Rs. 27,800 per 100 grams in the last two days.

So far this week the gold rate in the Indian market has been gaining due to strong domestic demand because of the ongoing wedding season, along with global market trends that have triggered a steady rise in gold prices. Yesterday, gold prices jumped nearly 1%, very close to the monthly high level.

"Gold held near $4,140 per ounce, its highest since mid-November, as softer US data and dovish Fed signals boosted expectations of a December rate cut. Markets now price in over an 80% chance of a 25 bps cut, following weak retail sales, job losses, and supportive comments from multiple Fed officials," according to the Way to Wealth Research desk.

Gold rate in Bengaluru today

On November 26th, the 22-carat gold rate in Bengaluru stood at Rs. 1,17,250 per 10 grams after rising to Rs. 800. Meanwhile, the 24-carat gold price in Bengaluru is now retailing at Rs 1,27,910 per 10 grams, which rose by Rs 870. Meanwhile, the 18-carat gold is currently priced at Rs. 95,930, after increasing by Rs. 650 per 10 grams.

MCX Gold and Silver Futures Update

On the Multi Commodity Exchange (MCX), gold futures that will mature on December 5 are trading in green at Rs. 1,26,040 after rising by 0.65%. Similarly, silver futures, which are set to expire on December 5, also spiked by 1.18%, trading at Rs. 1,58,160 on Wednesday, November 26.

As per the Way to Wealth Research Desk. "On the technical front, MCX gold witnessed positive price action in yesterday's trading session. It broke out of a very tight consolidation range, opening the door for further appreciation in the coming sessions. Immediate support is placed at 124460-123900, while resistance is seen at 127000 levels. Since the momentum is positive, traders can consider buying MCX gold near 124460-123900 for a target of 127000. Any sustained weakness below 123000 will warrant a review of the current view."

Silver Prices Today in Bengaluru

Just like gold, silver prices today in Bengaluru also jumped sharply and stood at Rs. 169,000 after a rise of Rs. 2000. Meanwhile, 100 grams of silver is currently priced at Rs 16,900, up by Rs 200.

Spot Gold and Spot Silver Price Today

According to the Spot Gold.org website, the spot gold rate climbed 0.53% to trade at $4,164 per ounce at the time of writing. Meanwhile, spot silver prices jumped 1.50% to $52.08 per ounce. On November 26

"Gold held near $4,140 per ounce, its highest since mid-November, as softer US data and dovish Fed signals boosted expectations of a December rate cut. Markets now price in over an 80% chance of a 25 bps cut, following weak retail sales, job losses, and supportive comments from multiple Fed officials," according to the Way to Wealth Research desk.

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