Gold Rates Today, Yellow Metal Gets Cheaper, 24K/10 Grams For Rs.71,670, Check Latest Prices Here

Gold and silver prices in Bangalore today saw no change after falling sharply in the earlier session. The 24K, 22K, 18K had slipped as massive as Rs.20,800 for 24K. The price of yellow metal had fallen amidst the strong US Labor market data that was released last friday. Along with that , the People's Bank of China announced that they will pause the purchase of bullion after buying gold for 18-months. The recent political uncertainty in France is also impacting the European markets and thus the global dynamics.

The investors are looking forward to the FOMC meeting which will conclude on 12th June, the announcement of the benchmark interest rate is expected to be announced at 11:30 PM (IST). According to the CME Fed watch tool, the financial markets are now pricing in nearly 49% odds of a rate cut for the September meeting, down from 68% before the release of NFP data.

The People's bank of China was one of the biggest gold buyers in the market, snapped the purchasing of bullion after buying it continuously for 18-months. This might have impacted the gold market dynamics sharply as China's gold reserve is among the top in the world and thus it has a huge impact on the gold market.

Gold Prices In Bangalore: The gold rate for 24K 100 grams is Rs.7,16,700. The price for 10 grams is Rs.71,670. Similarly, the gold price for 8 grams is Rs.57,336. The price for 1 gram is Rs.7,167. The price for 24K has remained the same since yesterday.

The gold rate for 22K 100 grams is Rs.6,57,000. The price for 10 grams isRs.65,700. Similarly, the gold price for 8 grams is Rs.52,560. The price for 1 gram is Rs.6,570. The price for 22K has remained the same since yesterday.

The gold rate for 18K 100 grams is Rs.5,37,600. The price for 10 grams isRs.53,76. Similarly, the gold price for 8 grams is Rs.43,008. The price for 1 gram is Rs.5,376.The price for 18K has remained the same since yesterday.

The spot gold is trading at $2,293.10, a decrease of 0.03%. Similarly, the spot silver is currently trading at $29.3, an increase of 0.73%.

Silver rates in Bangalore today is trading around Rs.90,400 per Kg, which has fallen by Rs.100 since yesterday.

The latest political uncertainty in France will also impact the global stocks and the commodity market. According to Reuters, The euro took a tumble alongside declines in stock and bond futures on Monday, as the French President Emmanuel Macron's unexpected decision to call for an election following his defeat in the European Union vote against the far-right. In early-morning trading in Asia, the euro dropped by 0.3% to hit a one-month low of $1.0764 and slid to a 21-month low of 84.60 pence.

The gold rates in Bangalore today saw no change after falling sharply, spot gold hitting 1-month low. The fluctuations in the market are seen due to global political as well as economic reports.