Bangalore Gold Rate Today Back on Fire! 24K, 22K, 18K Gold See Sharp Jump as Iran-US Peace Deal Lifts Bullion

Bangalore Gold Rate Today: The prices of 24-karat, 22-karat, and 18-karat gold in Bangalore saw a sharp rebound on Monday, June 15. Gold rates in Bangalore, also known as Bengaluru, surged as the Iran-US peace deal boosted overall sentiment in the bullion market. Following the trend, silver prices also witnessed an uptick in the Karnataka capital.

Home to lakhs of high-net-worth individuals (HNIs), millionaires, and billionaires, Bangalore's gold rates are tracked on a daily basis. As the recent surge in gold prices has diminished hopes of a correction, let's take a look at the gold rates in Bengaluru on June 15.

Bangalore Gold Rate Today

The price of 24 karat gold in Bangalore surged by Rs 245 per gram to Rs 15,153 per gram on Monday, June 15, as per Goodreturns data at 11 am, which means that the price of 10 grams of 24 karat gold in Bangalore has increased by Rs 2,450 to Rs 1,51,530.

The rate of 22 karat gold in Bangalore increased by Rs 225 per gram to Rs 13,890 on Monday. The 18 karat gold rate today in Bangalore jumped by Rs 184 per gram to Rs 11,365 per gram.

Bangalore Silver Rate Today

The silver rate in Bangalore also saw a sharp jump on Monday, June 15. Bangalore silver rate today increased to Rs 265 per gram and to Rs 2,65,000 per kilogram. Silver rate today in Bangalore saw a sharp increase in January followed by massive crash in February. However, the precious metal's price witnessed a range-bound movement after Jan-Feb's volatility.

Gold Price Outlook

As the gold rate today in Bangalore and across India strengthened after seeing correction last week, the precious metal is likely to see further consolidation in the near term. However, mixed macro signals like rate hike expectations, stronger dollar and elevated bond yields may put some pressure on the yellow metal.

"For Indian investors, rupee depreciation should cushion the downside, keeping domestic
gold prices in a tighter range versus international markets. The medium-to-long-term outlook is still bullish over supportive structural and cyclical fundamental factors. Investors may look for accumulation on any decline in the prices," as per Tata Mutual Fund report on Gold price outlook.

Iran-US Peace Deal

United States President Donald Trump has confirmed the signing of a peace deal with Iran to bring an end to the US-Israel war on Iran. Following the announcement, Trump also confirmed the reopening of the Strait of Hormuz. The development signalled an end to the nearly three-month-long conflict in West Asia. Within less than an hour of the Iran-US peace deal announcement, crude oil prices crashed sharply, falling to their lowest level in three months.