Gold Rate Today Drops From Record High In Bangalore On June 20; Check Today's 24K, 22K, & 18K Prices

Bangalore Gold Rate Today: Gold prices in Bangalore slipped today, giving some relief to buyers after prices had gone up a lot over the past two days. The drop in gold prices is because of increasing tension in the Middle East. Gold prices also went down in other cities because of the ongoing conflict between Israel and Iran, which has been going on for seven days.

Here are the latest Bangalore gold rates today for Friday, June 20.

Gold Rate in Bangalore Today:

On June 20th, the 22-carat gold price in Bangalore went down by Rs. 550 per 10 grams, now costing Rs. 92,100. Meanwhile, 24-carat gold saw a downfall of Rs. 600, bringing its price to Rs. 1,00,480 per 10 grams. Similarly, 18-carat gold prices dropped by Rs 450, now priced at Rs 75,360 for 10 grams. This small dip in prices could be a good opportunity for those planning to invest in or purchase gold.

While the price per gram of 24-carat gold in Bangalore became affordable by Rs 60, now priced at Rs 10,048. Similarly, 22-carat gold, which is commonly used for jewellery, has fallen by Rs 55 and is now priced at Rs 92,100 per gram. The rate for 18-carat gold has also gone down by Rs 45, now costing Rs 7,536 per gram.

Just like that, the cost of 100 grams of 22-carat gold now stands at Rs 9,21,000, showing a Rs 5,500 reduction, while 100 grams of 24-carat gold rates in Bangalore have spiked by Rs 6,000, retailing at Rs 10,04,800. The 18-carat of the same quantity is now available at Rs 7,53,600 down by Rs 4500.

Why Bangalore Gold Prices Have Fallen Today?

The ongoing Israel-Iran conflict entered its seventh day, with Israel reportedly targeting over 20 strategic sites in and around Tehran, including nuclear and missile facilities is one of the major reasons influencing the gold prices to fall, says Ajay Kedia, Director, Kedia Advisory.

"The potential for U.S. involvement in these strikes has raised fears of a wider regional war, which typically supports safe-haven assets like gold. However, profit-taking and broader market sell-offs weighed on bullion prices," added Ajay Kedia of Kedia Advisory.

In South Indian cities like Bangalore, gold is traditionally valued a lot, hence people prefer buying physical gold more often, especially for weddings. Though today gold prices have fallen, Domestic demand for gold jewellery has skyrocketed, pushing the gold rate reach its highest peak. Gold prices have been fluctuating over the last 1 week.

Silver Prices in Bangalore Today:

Silver prices in Bangalore dropped on June 20 after going up for two days in a row. The price of silver went down by Rs 2,000 per kilogram, now costing Rs 1,10,000. The rate for 1 gram of silver is now Rs 110, down by Rs 2. Similarly, the price for 10 grams of silver has fallen by Rs 20 and is now Rs 1,100.

As gold and silver prices keep changing based on world events and market conditions, it's important for buyers and investors to stay updated.

Gold And Silver Future Price On MCX:

On the Multi Commodity Exchange (MCX), gold futures that will mature on August 5, 2025, are trading lower by 0.75% and are now priced at Rs 98,580. Silver futures, which will expire on July 4, 2025, have also dropped by 1.86% and are now at Rs 1,05,391.

Gold is considered a safe and dependable investment, especially during times of global tension or when the stock market is unstable. Many people choose to invest in gold to protect their money when other options seem risky.

Disclaimer: The recommendations made above are by market analysts and are not advised by either the author nor GoodReturns. The author, the brokerage firm nor GoodReturns would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.