Bangalore Gold Rate Today Continues To Fall For 2nd Straight Session; Check 24K, 22K, 18K Rate Today

Bangalore Gold Rate Today: The prices of 24-karat, 22-karat, and 18-karat gold in Bangalore (Bengaluru) continued to decline for the second consecutive session on Wednesday, June 17. The recent drop in gold prices in Bangalore and other Indian cities comes as investors worldwide await further developments regarding the proposed US-Iran peace agreement.

The recent decline in Bangalore gold rate today came after a sharp jump in the precious metal's rates last week. For investors who closely track gold and silver rates in the Karnataka capital, here are all the details about it.

Bangalore Gold Rate Today

The price of 24 karat, 22 karat and 18 karat gold in Bangalore declined on Wednesday. The rate of 24 karat gold in Bangalore declined by Rs 27 per gram to Rs 15,110 per gram, as per Goodreturns data at 12:50 pm on Wednesday. Likewise, the price of 22 karat gold in Bangalore fell by Rs 25 per gram to Rs 13,850 per gram. The rate of 18 karat gold in Bangalore dipped nearly Rs 21 per gram to Rs 11,332 per gram.

Bangalore Silver Rate Today

Bangalore silver rate today remained unchanged on Wednesday, June 17. Bangalore silver rate today stood at Rs 265 per gram and at Rs 2,65,000 per kilogram. Silver rate in Bangalore and across Indian cities remained stable over the past few weeks, but the precious metal saw a sharp surge in January, followed by a massive crash in February.

Gold Price Outlook

Despite volatility in gold prices over the past few weeks, the long-term outlook for the precious metal remains bullish, as per experts. "Despite recent volatility, the fundamental case for owning precious metals remains intact. The core drivers have not disappeared, and they continue to underpin long-term demand," noted Tata Mutual Fund in its report.

"Gold-Silver ratio though witnessed a dip in may-26, have recovered above 62 level suggesting outperformance of gold over silver. The expectation is that the ratio to rise back towards 68 level, mostly due to rise in gold demand amid geopolitical tension," added the report.

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