Gold Rate Today In Bangalore Rally by Rs. 37,600; 24k, 22k,18k Gold Gets Costlier Overnight; Silver Spikes Too

After a series of declines over the past few sessions, gold prices today staged a strong rebound, recovering from their biggest drop in months amid easing concerns about US-Iran war tensions. The gold rate in Bangalore today has climbed to a one-month high, due to renewed bullish sentiment in the market.

Although gold prices in India saw a steep correction last week, the yellow metal is now regaining momentum, supported by a weaker dollar index and a decline in crude oil prices. The shift in global cues has improved investor sentiment towards safe-haven assets like gold.

In the international market, spot gold prices surged over 2% in the previous session after reports indicating a possible de-escalation in geopolitical tensions. Prices have managed to recover most of their earlier losses and are now holding steady above the $4,500 per ounce.

Gold Rate Today In Bangalore

On 25th March, 22-carat gold rate today in Bangalore jumped by Rs. 3450 per 10 grams to cost Rs. 1,34,450 per 10 grams, and similarly, the 24-carat gold rates in Bangalore per 10 grams spiked Rs. 3760 to retail at Rs.1,46,670 per 10 grams. Just like that, the 18-carat gold prices also experienced a rise of Rs.2820 per 10 grams and are currently priced at Rs.1,10,010 per 10 grams.

For those looking for a bulkier option, 100 grams of 24-carat gold prices in Bangalore are now priced at Rs. 14,66,700 after seeing a rise of Rs. 37,600, while the 22-carat gold in Bangalore rose by Rs. 34,500 to cost Rs. 13,44,500.

Gold Price Target

Nirmal Bang Securities, in its report, mentioned, "Gold prices are expected to rise. One can buy at Rs. 142700 with a stop loss of Rs. 141000 for the target at Rs. 145000- Rs. 148000."

Gold Rates Today in Other Indian Cities

Yellow metal rates have been rising across the country; here are some gold rates in Indian cities.

Gold rates in Hyderabad today: 22-carat gold is currently at Rs. 1,34,450, while 24-carat gold rates stand at Rs. 1,46,670.

Gold rates in Chennai today rose by Rs. 3810 per 10 grams for 22-carat gold, which retails at Rs. 1,36,000, while 24-carat gold costs Rs. 148370 per 10 grams.

Gold prices in Delhi today also jumped higher by Rs. 3450 per 10 grams for 22-carat yellow metal, which currently costs Rs.134,600, while the 24-carat gold rates per 10 grams cost Rs. 1,46,820 in Delhi.

Silver Prices in Bangalore Today

Silver prices in Bangalore today per kilogram currently cost Rs. 2,50,000 per kg after a big jump of Rs. 15,000. The price of 100 grams of silver is currently at Rs. 25,000 which surged by 1500.

Gold Prices on the MCX

Gold prices on MCX (Multi Commodity Exchange) have rebounded. Gold futures, expected to mature on April 2 jumped by 3.91% to trade at Rs.1,44,350 per 10 grams. Meanwhile, silver futures, with an expiry date of May 5th, traded higher this morning by 5.45%, trading at Rs.2,36,150 per Kg.

Spot Gold and Silver Prices Today

Recent data from Reuters shows that "Spot gold rose 2.2% to $4,570.74 per ounce by 0450 GMT. U.S. ​gold futures for April delivery gained 3.8% to $4,569.10. Spot silver rose 3.1% to $73.42 per ounce."

Gold Outlook & Expert Analysis

According to reports by IBJA, "Gold advanced, snapping nine straight sessions of daily declines, following reports that the US is seeking a one-month ceasefire to hold talks with Iran. Bullion rose as much as 1.7% late in Tuesday's session after Israel's Channel 12 cited sources on a US approach to possible talks with Iran. Stocks pared declines while the dollar and Treasury yields gave up some early gains."

"Gold and silver prices are trading slightly higher today on the international bourses. We expect precious metals prices on Indian bourses to trade sideways to slightly higher for the day; as gold and silver prices extended gains after breaking a nine-day losing streak, as investors weighed signals that the US may pursue a diplomatic route to ending the war in the Middle East." the report further added.

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