Super News for Bangalore Gold Buyers! Gold Prices DROP Across 24k, 22k,18k on July 9

Gold prices in Bengaluru fell sharply today after witnessing a strong rise yesterday. The price of 22-carat standard gold is now lower, which is a buying opportunity for investors.

Over the past 10 days, gold prices in Bangalore and across India have remained largely volatile due to uncertainty surrounding Trump's trade tariffs. Currently, gold is priced significantly higher than it was three months ago. However, this recent decline comes as a relief for retail buyers, making gold slightly more affordable.

Gold Rate in Bangalore July 8

On July 9th, the price of 22-carat gold in Bangalore plunged by Rs. 600 per 10 grams, now costing Rs. 90,000. Meanwhile, 24-carat gold saw a drop of Rs. 660, bringing its price to Rs. 98,180 per 10 grams. Similarly, 18-carat gold prices decreased by Rs. 490 per 10 grams, now priced at Rs. 73,640.

For bulk purchases as well, the decline was seen. The cost of 100 grams of 22-carat gold now stands at Rs 900,000, showing a Rs 6,000 reduction, while 100 grams of 24-carat gold has fallen by Rs 6,600, retailing at Rs 981,800.

"Gold prices are expected to correct. One can sell at Rs. 96800 with a stop loss of Rs. 97100 for the target at Rs. 96300- Rs. 96000." as per Nirmal Bang Securities

"Gold and silver prices are trading slightly lower today on the international bourses. We expect precious metals prices on Indian bourses to trade range-bound to slightly lower for the day; as gold prices held a decline after President Donald Trump said the new August deadline for the start of socalled "reciprocal" tariffs won't be delayed, with nations expected to use the extended window to continue negotiating with the US." the report further stated

Gold Prices in Other Major Indian Cities

Here are gold prices in some of the major cities in India, which are experiencing a similar drop:

Cities	24 carat	22 carat
Delhi	Rs. 98,330	Rs. 90,150
Mumbai	Rs. 98,180	Rs. 90,000
Chennai	Rs. 98,180	Rs. 90,000
Kolkata	Rs. 98,180	Rs. 90,000

Silver Prices in Bangalore

1 kilogram of silver in Bangalore today currently stands at Rs. 1,10,000 as there has been no major movement in white metal prices in the last six days. Similarly, the price for 100 grams of silver stood at Rs. 11,000.

Gold and Silver Future Price on MCX

Gold futures on the MCX were trading lower this morning. The August 5th maturing gold futures were priced at Rs. 96,082, with a 0.40% decline. Similarly, silver futures, set to mature on September 5, 2025, dropped by 0.16%, trading at Rs. 107,817 on Wednesday.

Spot Gold and Silver Rates on July 8

According to a recent report by FXStreet, gold prices dropped over 1% on July 8 as the US dollar and Treasury yields strengthened, reducing the appeal of the yellow metal. The decline also came after former President Donald Trump delayed the tariff deadline to August 1, easing immediate trade-related fears.

In response to stronger economic signals, traders have revised their expectations for Federal Reserve rate cuts in 2025, now projecting just 48 basis points of easing, down from earlier forecasts.

Despite these developments, global risk sentiment remains fragile, with markets still concerned about the long-term economic impact of Trump's proposed trade tariffs.

As per data from SpotGold.org, spot gold is currently trading at USD 3,293.07 per ounce, down 0.50%, while spot silver is slightly up by 0.32%, trading at USD 36.68 per ounce.

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