Gold prices in Bengaluru softened sharply on Friday, January 31, following a broad selloff in both domestic and global bullion markets. After an extended rally earlier in the month, profit booking and a stronger US dollar put pressure on the yellow metal, leading to notable declines in local retail prices.
📍 Latest gold rates in Bengaluru today (per gram)
| Gold Purity | Rate in Bengaluru (Jan 31) |
|---|---|
| 24-carat gold | ₹16,058 |
| 22-carat gold | ₹14,720 |
| 18-carat gold | ₹12,044 |
These figures represent the indicative retail gold prices in Bengaluru as of January 31. Actual prices may vary slightly across jewellers due to making charges, taxes, and local premiums.
What caused the fall in gold prices?
Gold’s fall in Bengaluru followed heavy selling in both domestic and international markets:
- On the domestic futures market, gold February 5 contracts recorded significant losses, settling sharply lower after intense selling pressure.
- In the international market, COMEX gold futures plunged by $591 to close at $4,763 per ounce, pressured by a rebound in the US dollar and shifting expectations around interest-rate policy.
Market participants said the correction was driven by profit booking after an extended rally, which had pushed gold prices into technically overbought territory. Once sentiment shifted, broad unwinding of positions triggered a swift and sharp fall, resulting in heightened volatility.
Gold prices in Bengaluru remain sensitive to global spot rates, currency movements, import duties, and local demand conditions, and traders expect volatility to continue in the near term.
Gold rates mentioned above are indicative retail prices and do not include GST, TCS, or other levies. Actual prices may vary across jewellers.
Disclaimer: This information is for informational purposes only and should not be considered financial or investment advice. Always conduct your own research or consult a financial advisor before making investment decisions.
