Gold, Silver In Bangalore Fall For 2nd Day: 24K/100 Grams Dips Rs 6,500; 18K/10 Grams Rs 240 Away From Rs 56K

Gold and silver prices in the Silicon City of India, Bangalore continued to fall for the second day. On July 19, the price of 24K/100 grams of gold dipped by Rs 4,900. While in 2 days, 24K/100 grams declined by a massive Rs 6,500. Meanwhile, 18K of 10 grams is just Rs 240 away from regaining the Rs 56,000 mark. 10 grams of 22K is above Rs 68,100, but also cheaper than the previous day.

At the same time, silver prices also plunged for the second consecutive day as well. In a two-day span, the price of 1 KG silver has tumbled by Rs 2,750.

The reason behind the decline in gold prices is due to international spot gold prices that plummeted for three consecutive days, as the dollar gained momentum. Also, investors are panicked about the tensions of the tariff war with China. Recently, China halted buying of bullion.

Gold Prices In Bangalore On July 19:

24K Gold Prices: In this carat, 100 grams of gold is priced at Rs 7,43,500 in Bangalore on July 19, down by Rs 4,900 from the previous day, witnessing the most decline compared to other carats and grams. In 24K, 10 grams of gold is available at Rs 74,350, lower by Rs 490. While 8 grams of gold has tumbled by Rs 392 to Rs 59,480, and that of 1 gram of gold is down by Rs 49 to Rs 7,435.

22K Gold Prices: Here, 100 grams of gold is cheaper from Rs 4,500 to Rs 6,81,500. While 10 grams price declined from Rs 450 to Rs 68,150. Further, 8 grams of gold is down by Rs 360 to Rs 54,520, and of 1 gram gold is lower by Rs 45 to Rs 6,815.

18K Gold Prices: In the lowest carat, 100 grams of gold price dipped by Rs 3,700 to Rs 5,57,600. 10 grams of gold here is lower by Rs 370 to Rs 55,760. Further, 8 grams of gold is down by Rs 296 to Rs 44,608, and that 1 gram price is at Rs 5,576 down by Rs 37. 1 gram of gold of 18K is the cheapest!

Analysts at Kotak Institutional Equities said, "Comex gold continued to trade lower for a third consecutive session on Friday, driven by a recovering US dollar from 4-month lows. Moreover, profit booking by investors from near all-time highs amid concern over tariff war with China and other political and geopolitical struggles overshadowed increasing odds of interest rate cuts."

The analysts further said, as per customs data, Swiss gold exports in June dropped to their lowest since April 2022 due to reduced shipments to China and India. Comex silver stayed below $30 per ounce after losing over 4.5% this week, hurt by demand uncertainties in China."

Silver Prices In Bangalore On July 19:

1Kg silver price dipped by Rs 1,450 to Rs 93,250 on July 19, after falling by Rs 1,300 on July 18. Meanwhile, on Friday, 100 grams of silver is at Rs 9,325, and 10 grams is at Rs 932. Also, the cheapest silver is around Rs 94.

Lastly, the analysts said, investors are awaiting a more detailed report, usually released several days after concluding the Third Plenum. No major data releases are scheduled today, except for some FOMC members' speeches.