Bangalore Gold Rate Today: 24K, 22K, 18K Gold Fall Continues Amid Iran-US War Lifts Crude Oil Price

Bangalore Gold Rate Today: The price of 24 karat, 22 karat and 18 karat gold in Bangalore declined significantly on Monday, June 29. The decline in Bangalore gold rate today coincided with weakness in the international bullion market. However, silver prices in the Karnataka capital remained stable.

The recent decline has raised hopes of further price correction in the coming days. Here are the latest gold and silver rates in Bangalore.

Bangalore Gold Rate Today

The price of 24 karat, 22 karat and 18 karat gold in Bangalore saw a sharp decline on Monday. The rate of 24 karat gold in Bangalore fell by Rs 93 per gram to Rs 14,302 per gram, as per Goodreturns data at 11:20 am on Monday. The rate of 22 karat gold in Bangalore fell by Rs 85 per gram to Rs 13,110 per gram. Likewise, the rate of 18 karat gold in Bangalore declined by Rs 69 per gram to Rs 10,727 per gram.

Bangalore Silver Rate Today

The price of silver in Bangalore remained unchanged on Monday, June 29. The silver rate in Bangalore today stood at Rs 240 per gram and Rs 2,40,000 per kilogram. The silver price saw wild swings in January, jumping beyond Rs 4 lakh before crashing below Rs 3 lakh in February.

International Gold Rate Today

The international gold price fell significantly, snapping its two-day rebound. The bullion price stood at $ 4,050 per ounce on Monday, as per Trading Economics data. The decline came after the recent exchange of attacks between the US and Iran over the Strait of Hormuz renewed concerns about global oil supply. Iran targeted a container ship, a vessel carrying Qatari oil and military bases in Kuwait and Bahrain. The attack prompted multiple US retaliatory strikes.

Crude Oil Price Rally

The recent decline in gold coincided with the revival of the crude oil price rally. Crude oil climbed to around $ 70 per barrel on Monday and recovered modestly from four-month lows. The two sides have agreed to halt further strikes ahead of peace talks. Brent crude climbed above $72 per barrel on Monday after recovering from its 4-month low mark.

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