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|Gold Price in Bangalore in January 2018||Gold price in Bangalore in December 2017||Gold price in Bangalore in November 2017|
Gold Rate in Bangalore
Gold is a very popular commodity in Bangalore, and in India in general. Gold rates in Bangalore are decided by international trends. Gold prices are highly dynamic and are affected by a wide range of factors, from strength of the US Dollar to seasonal demand in the country. Gold is purchased in Bangalore primarily as jewelry and ornaments, following the trend of most of the country when it comes to gold usage.
Gold is also traded as a commodity in exchanges such as Multi Commodity Exchange (MCX), National Commodity and Derivatives Exchange (NCDEX) and National Spot Exchange (NSEL). The contracts are available both as spot contracts where gold can be bought and delivered right away, and futures contracts wherein gold is bought and sold at a later date.
Indians have a history of banking on gold more than the actual banks. Gold therefore also acts as an investment portfolio for consumers in Bangalore looking at stable and long term returns from the metal. There are many large and small gold dealers in Bangalore that are exclusively into precious metals and form the backbone of the local gold industry.
Trend of Gold Rate in Bangalore for January 2018 (rates per gram for 24 karat gold)
January 2018 - Week 1 (1st - 7th)
- When trading began for the new year in Bangalore, gold was priced at Rs.2,941 per gram.
- This then rose to Rs.2,953 per gram on the 2nd of the month. According to reports, “today’s gold rate” rose because of positive cues from the global market, amidst a weak dollar.
- The 3rd again saw gold trade at Rs.2,953 per gram, before dropping down to Rs.2,947 per gram on the 4th.
- With the US dollar losing its standing in the index, gold rate in Bangalore pushed up to Rs.2,966 per gram on the 5th of January.
- But, a slight decline on the 6th led to gold price in Bangalore going down to Rs.2,963 per gram.
- When the week ended, the yellow metal was seen trading at Rs.2,963 per gram.
January 2018 - Week 2 (8th - 14th)
- When trading commenced for the second week, gold rate in Bangalore were recorded trading at Rs.2,963 per gram on the 8th owing to a steady demand from the previous week.
- Gold price in Bangalore surged to Rs.2,969 per gram on the 9th amid a positive trend overseas before plunging down to Rs.2,958 per gram the following day with the equities market performing well amid the strong US dollar index.
- On the 11th, the dollar lost its ground against a basket of other emerging currencies and the precious metal was recorded trading at Rs.2,976 per gram.
- Gold prices surged further to Rs.2,988 per gram on the 12th before stabilising at Rs.3,000 per gram- the highest in seven weeks - on the 13th amid the strong global trends.
- Positive overseas cues coupled with increased demand for metal from industries and jewellers led to gold prices holding steady at Rs.3,000 per gram when the week ended on the 14th.
Trend of Gold Rate in Bengaluru for December 2017 (rates per gram for 24 karat gold)
|Parameters||Gold price (24 karat)|
|Gold Rate on 1st December 2017||Rs.2,932 per gram|
|Gold Rate on 31st December 2017||Rs.2,941 per gram|
|Highest Rate in December||Rs.2,942 per gram from 2 to 4 December and 29 December|
|Lowest Rate in December||Rs.2,859 per gram on 13 December|
|Overall Monthly Performance||Incline|
December 2017 - Week 1 (1st - 10th)
- Gold rate in Bengaluru were greatly affected by the strong dollar rates compounded by US tax reform bill approval during the week.
- Gold was priced at Rs.2,932 per gram on the 1st of December.
- With the landmark bill to overhaul the tax system stalled by the US Senate, the dollar weakened and led to gold prices rising to Rs.2,942 per gram on the 2nd.
- Steady domestic demand amid the strong trend overseas led to the precious metal being priced at Rs.2,942 per gram on the 3rd and the 4th.
- The 5th, however, witnessed gold price in Bengaluru plunging to Rs.2,906 per gram after the Senate Republicans passed the tax bill setting aside the political differences through a vote.
- Gold rate in Bengaluru dropped further to Rs.2,869 per gram - the lowest level in four months - on the 8th after the proposed tax reform bill seemed to boost investor sentiments in the country, pushing the US dollar higher.
- The yellow metal prices rose marginally to Rs.2,870 per gram on the 9th on account of increased buying from local retailers and jewellers to meet wedding season demand.
- The week concluded with the precious metal trading at Rs.2,870 per gram amid subdued domestic demand for the metal.
December 2017 - Week 2 (11th - 17th)
- In Bangalore, gold rates opened on a relatively neutral note before trailing off slowly over the next two days.
- Gold was priced at Rs.2,866 per gram in the silicon valley of India when the week began.
- Due to poor demand brought about by weak global cues, gold rate in Bangalore dropped to Rs.2,862 per gram on the 12th of December.
- The 13th again saw gold rates drop as investors cautiously awaited the interest rate hike to be introduced by the US Fed Reserve.
- On the 14th, the US dollar lost some of its value as a direct result of the Fed Rate hike. This led to gold trading at a slightly higher rate of Rs.2,883 per gram.
- But, the demand seen on the 14th was a one-off and it couldn’t be sustained for longer periods. The 15th saw gold trading at Rs.2,864 per gram.
- Over the last two days of this week, gold price in Bangalore were holding at Rs.2,861 per gram.
December 2017 - Week 3 (18th - 24th)
- Gold was priced at Rs.2,861 per gram on the 18th when trading commenced for the third week.
- Though gold rate in Bengaluru rose to Rs.2,879 per gram on the 19th amid the positive global cues, prices dropped to Rs.2,876 per gram the following day after the US tax bill moved closer to being approved by the Senate.
- However, with stockists and investors speculating over the ultimate result of the US tax reform on the country’s economy, the dollar and equities lost its ground. This led to gold rate in Bengaluru surging to Rs.2,883 per gram on the 21st.
- The 22nd saw gold price Bengaluru dipping to Rs.2,879 per gram as the dollar and equities market pressured the bullion trade after the approval of the landmark US tax reform bill during the week.
- The newly approved tax reform proved to be unfavourable as the Asian stocks began to collapse with the tax cuts. This led to the yellow metal prices surging to Rs.2,898 per gram on the 23rd.
- Prices remained untouched at Rs.2,898 per gram on the 24th, thanks to steady demand from local jewellers, industries and retailers.
December 2017 - Week 4 (25th - 31st)
- The week began in Bangalore with gold priced at Rs.2,898 per gram.
- Prices went up to Rs.2,903 per gram on the 26th of the month, with local trends remaining in touch with international demand.
- Gold rates went up to Rs.2,917 per gram on the 27th as a declined US dollar, spurred investors to invest in the metal a little more.
- The 28th again saw gold rates rise to Rs.2,937 per gram as the metal hit one-month high figures in the global market.
- During the 29th, the yellow metal traded at Rs.2,942 per gram - a comparatively marginal increase brought about by positive global cues.
- However, a poor local demand pushed gold rates down to Rs.2,941 per gram on the 30th of the month. When the week came to an end, the yellow metal was still priced at Rs.2,941 per gram.
Trend of Gold Rate in Bengaluru for November 2017 (rates per gram for 24 karat gold)
|Parameters||Gold price (24 karat)|
|Gold rate on 1st November 2017||Rs.2,942 per gram|
|November 31 Rate||Rs.2,947 per gram|
|Highest Rate in November 2017||Rs.2,981 per gram on 20 November|
|Lowest Rate in November 2017||Rs.2,907 per gram on 6 November|
|Overall Monthly Performance||Incline|
November 2017 - Week 1 (1st - 5th)
- In Bengaluru, gold rates started off on a relatively improved note but fell as the week progressed.
- On the 1st of November, the yellow metal was trading at Rs.2,942 per gram.
- Due to a steady demand from local circles, gold continued selling at Rs.2,942 per gram on the 2nd and the 3rd of November.
- Keeping in trend with global cues, gold rate in Bengaluru fell to Rs.2,917 per gram on the 4th of November. This happened because of a relatively strong dollar and also the cautious nature of investors.
- When the week came to an end, gold price in Bengaluru were recorded at Rs.2,917 per gram.
November 2017 - Week 2 (6th - 12th)
- When trading commenced for the week, the yellow metal was trading low at Rs.2,907 per gram on the 6th.
- However, prices picked up with geopolitical tensions rising between Saudi Arabia and Iran pushing demand higher for safe-haven assets like gold. This led to gold rate in Bangalore surging to Rs.2,942 per gram on the 7th.
- An increased domestic demand coupled with strong overseas trends resulted in prices rising to Rs.2,951 per gram on the 8th.
- Gold price in Banaglore remained unchanged at Rs.2,951 per gram on the 9th owing to downfall of the US dollar amid uncertainties in the US tax plan.
- Prices, however, recovered with dollar losing against major emerging currencies, and the yellow metal was priced at Rs.2,961 per gram on the 10th.
- The remainder of the week witnessed the bullion trading firm at Rs.2,960 per gram, thanks to steady local demand amid strong global cues.
November 2017 - Week 3 (13th - 19th)
- Gold in Bengaluru started off on a weak note before surging midweek and consolidating towards the end of the week.
- On the 13th of November, gold was priced at Rs.2,940 per gram. This rose to Rs.2,945 per gram as there was an increased buying trend in the city.
- The 15th saw gold rate in Bengaluru surge significantly to Rs.2,966 per gram as local demand improved. This high demand wasn’t to be sustained, which was evident with the next day’s trade.
- On the 16th, the yellow metal was seen selling at Rs.2,961 per gram.
- Over the last three days, i.e., from the 17th to the 19th, gold price Bengaluru remained at Rs.2,951 per gram, a slump despite some strong trend seen worldwide.
November 2017 - Week 4 (20th - 26th)
- In Bengaluru, gold opened for the week at Rs.2981 per gram. A weak demand brought about by wary investors saw gold rates plummet to Rs.2,953 per gram on the 21st of November.
- Demand crashed for the second day in a row, which caused gold rates in Bengaluru to go down to Rs.2,951 per gram on the 22nd.
- However, positive cues from the global market contributed to a robust trading day on the 23rd. Prices increased to Rs.2,960 per gram this day.
- A steady demand saw gold trade at a marginally increased rate of Rs.2,961 per gram on the 24th, before dropping to Rs.2,958 per gram on the 25th.
- With demand from key Asian markets remaining subdued, gold price in Bengaluru was unchanged on the 26th and the metal traded at Rs.2,958 per gram.
In Bengaluru, gold was seen trading at Rs.2,961 per gram on the 27th of November. This dropped down to Rs.2,958 per gram the next day due to the Fed chair speech, which turned out to be a bad thing for gold trading. A brief increase in local demand pushed gold rate in Bengaluru up to Rs.2,960 per gram on the penultimate day of the month. On the final day of November, though, gold price in Bengaluru fell by Rs.13 for the metal to trade at a lowly Rs.2,947 per gram.
|Parameters||Gold price (24 karat)|
|Gold Rate on 1st October 2017||Rs.2,985 per gram|
|Gold Rate on 31st October 2017||Rs.2,942 per gram|
|Highest Rate in October 2017||Rs.2,995 per gram|
|Lowest Rate in October 2017||Rs.2,932 per gram on 27 October|
|Overall Monthly Performance||Decline|
October 2017 - Week 1 (1st -7th)
- Gold opened the week at Rs.2,985 per gram in Bengaluru as consistent demand from jewellers and the retail market kept prices stable.
- The recovery of the U.S. dollar coupled with reduced international demand led to gold prices in Bengaluru dropping to Rs.2,966 per gram on 2 October.
- Well-performing equities and the rising U.S. dollar led to an overall drop in demand for gold, which resulted in prices falling to Rs.2,956 per gram on 3 October.
- A brief rise in price led to gold trading at Rs.2,961 per gram on 4 & 5 October.
- The release of U.S. employment data and the possibility of a rate hike led to investors refraining from buying gold, resulting in gold price in Bengaluru dropping further, with gold priced at Rs.2,942 per gram on 6 October.
- The resumption of fears about North Korea’s nuclear programme led to a marginal rise in demand as gold ended the week trading at Rs.2,952 per gram.
October 2017 - Week 2 (8th -14th)
- Gold prices in Bangalore rose considerably during the initial days before holding steady for the remainder of the week.
- On the 8th, when trade exchanges opened, gold was priced at Rs.2,952 per gram.
- Significantly positive global cues saw gold rates in the silicon city rise to Rs.2,976 per gram on the 9th. The reason for this rise was the resumption of the stand off between the US and North Korea.
- Rates surged slightly as festive season demand saw jewellers increase their purchases. Gold traded at Rs.2,981 per gram on the 10th.
- Demand in the city remained stable, which led to little fluctuation in rates on the 11th and the 12th. Gold traded at Rs.2,981 per gram on both these days.
- The 13th saw gold rates in Bengaluru rise to Rs.2,987 per gram as local demand was in sync with the international trends.
- When the week came to an end, on the 14th, gold was seen trading at Rs.2,987 per gram.
October 2017 - Week 3 (15th - 21st)
- In Bengaluru, gold rates were mostly on the decline despite the oncoming Diwali and Dhanteras festivities.
- On the 15th of October, gold traded at Rs.2,987 per gram but surged to Rs.2,995 per gram on the 16th as local jewellers increased their purchases.
- However, weak trend overseas saw gold rate in Bengaluru drop down to Rs.2,981 per gram on the 17th of the month, before falling again to Rs.2,976 per gram the next day.
- Demand couldn’t pick up as the imminent Diwali festivities failed to stoke retail or wholesale demand.
- This led to gold trading at Rs.2,966 per gram over the final three days of the week.
October 2017 - Week 4 (22nd -28th)
- When trading commenced in Bengaluru, the yellow metal was trading at Rs.2,966 per gram on the 22nd.
- However, gold rate in Bengaluru plunged to Rs.2,956 per gram - a decline of Rs.10 per gram - on the 23rd as the dollar gained against other apex currencies, pushing demand lower for the metal.
- Thanks to steady local demand from retail jewellers and industries, gold prices remained untouched at Rs.2,956 per gram despite poor global trends on the 24th.
- The 25th witnessed gold prices in Bengaluru plunging to Rs.2,951 per gram as firm equity markets pushed the dollar rates higher.
- The yellow metal rates rose to Rs.2,956 per gram on the 26th as the dollar edged down with the market expecting the ECB to cut back its bond-buying policy.
- However, on the 27th, the European Central Bank's decision to extend its bond-buying stimulus resulted in the dollar dominating over the euro. This led to gold prices plummeting to Rs.2,932 per gram.
- Thanks to an increase in the local demand, Bengaluru witnessed gold rates rising to Rs.2,947 per gram on the 28th.
October 2017 - Week 5 (29th- 31st)
- Gold rates in Bengaluru also fell over the course of the three days as demand slowed down globally, and subsequently in the domestic markets.
- On the 29th, gold opened at Rs.2,947 per gram.
- As weak global cues caught on locally, gold rates fell to Rs.2,942 per gram on the 30th of the month. Gold prices in Bengaluru remained at Rs.2,942 per gram as there was no change in demand for various investment quarters of the city.
|Parameters||Gold price (24 karat)|
|September 1 Rate||Rs.2,956 per gram|
|September 30 Rate||Rs.2,985 per gram|
|Highest Rate in September||Rs.3,056 per gram on 8 September|
|Lowest Rate in September||Rs.2,956 per gram on 1 September|
|Overall Monthly Performance||Incline|
September 2017 - Week 1 (1st to 10th)
- Bangalore, like other cities in the country, saw gold price hit near one-year highs with regard to gold rates.
- When the first week of September started, gold was priced at Rs.2,956 per gram. Prices ascended to Rs.2,995 per gram on the 2nd as demand from local jewellers and investors went up.
- Rates remained steady at Rs.2,995 per gram on the 3rd before surging to Rs.3,015 per gram on the 4th, courtesy of positive global cues.
- The global bullion market saw an increased demand for precious metals as North Korea conducted its most powerful nuclear test to date.
- Gold price in Bangalore went up to Rs.3,029 per gram on the 5th as a consequence of this.
- With the effects of North Korea’s actions still lingering in the markets, gold prices surged again to Rs.3,034 per gram on the 6th.
- On the 8th, gold rate in Bengaluru reached a 11-month high of Rs.3,056 per gram as investor sentiments rose amidst favourable international demand.
- As dollar gained on other currencies and as demand started to decline, gold prices held at Rs.3,041 per gram on the 9th and the 10th of September.
September 2017 - Week 2 (11th to 17th)
- Demand fluctuated in the country’s IT capital as conflicting market trends and a volatile U.S. dollar resulted in a reduction in demand for gold.
- The week began with gold priced at Rs.3,019 per gram on 11 September, a decrease from the previous week as markets rallied over the weekend.
- As the U.S. and North Korea exchanges escalated following Korea’s nuclear missile test, markets plunged but gold prices were unaffected.
- Gold price , contrary to trends, fell as local demand plunged, with the yellow metal trading at Rs.3,001 per gram on 12 September.
- Gold price in Bangaluru recovered the following day as gold rose to Rs.3,010 per gram on 13 September but demand continued to be erratic due to falling demand from jewellers.
- Overseas demand was also muted as investors awaited news from the central bankers meeting and the impact of the hurricane on the U.S. economy.
- Gold price in Bangaluru dropped to Rs.2,995 per gram on 14 September before a slight rise in industrial demand pushed prices to Rs.3,013 per gram on 15 September.
- Gold fell as the week ended, trading at Rs.3,005 per gram on 17 September.
September 2017 - Week 3 (18th-24th)
- Bengaluru was one of the few cities, which saw gold demand decrease considerably this week.
- The week started on a high with the metal trading at Rs.3,005 per gram on the 18th.
- But, as demand in the city dropped significantly, gold rate in Bengaluru went down to as low as Rs.2,971 per gram on the 19th.
- Courtesy of the festive season locally and the US - North Korea issue internationally, a spike in demand was witnessed on the 20th. Gold rates increased by Rs.24 to reach Rs.2,995 per gram on this day.
- A strengthening dollar cut short the demand, thereby pushing gold price in Bangaluru down to Rs.2,970 per gram on the 21st of September.
- The local bullion market saw rates increase to Rs.2,990 per gram, thanks to positive demand from investors and jewellers.
- On the 23rd, gold rate in Bangaluru dropped to Rs.3,980 per gram and remained the same till the closing hours of the week.
September 2017 - Week 4 (25th-30th)
- Gold prices in Bengaluru fluctuated towards the beginning of the week.
- When the week began, gold was priced at Rs.2,970 per gram but went up to Rs.3,029 per gram as festive season buying led to a surge in demand.
- Strong US dollar and weak global cues on the 27th led to the yellow metal trade at a relatively subdued rate of Rs.3,005 per gram.
- As demand plummeted, gold rate in Bengaluru fell to Rs.2,985 per gram on the 28th of the month.
- Thankfully, a steady demand for the metal meant that gold prices remained unchanged over the final two days of September.
|Parameters||Gold price (24 karat)|
|August 1 Rate||Rs.2,878 per gram|
|August 31 Rate||Rs.2,956 per gram|
|Highest Rate in August||Rs.2,976 per gram on 29 August|
|Lowest Rate in August||Rs.2,845 per gram on 7 August|
|Overall Monthly Performance||Incline|
August ‘17 - Week 1 (1st to 6th)
- The country’s IT capital saw gold prices plateau due to poor demand as well as market conditions.
- Gold was priced at Rs.2,878 per gram on 1 August, recording a minor increase in price from the previous month.
- Gold rate in Bengaluru dropped as investors awaited the results of the Fed Reserve meeting, resulting in gold falling to Rs.2,854 per gram on 3 August.
- Gold price in Bengaluru rose to Rs.2,865 per gram on 4 August as local demand spiked on account of Varmahalakshmi as well as a declining dollar.
- Prices fell by Rs.10 to trade at Rs.2,855 per gram on 5 August as overseas demand was muted and local demand could not keep prices table.
- Gold price in Bengaluru did not change as the week drew to a close, resulting in gold trading at Rs.2,855 per gram on 6 August due to poor demand.
August ‘17 – Week 2 (7th to 13th)
- In Bengaluru, gold prices were seen holding at Rs.2,845 per gram on the 7th of August.
- Rates went up to Rs.2,852 per gram on the 8th and remained the same till the close of the 9th as demand from local jewellers spiked slightly.
- The 10th saw gold price in Bangalore increase significantly - by Rs.41 - for the metal to trade at Rs.2,893 per gram as US markets fell and demand went up.
- Gold Rate in Bangalore went up on the 11th as well to Rs.2,922 per gram as the US-North Korea issue lingered on in the market and drove up the demand.
- During the last two days of the week - the 12th and the 13th - gold prices remained at Rs.2,922 per gram as purchases from jewellers remained steady.
August ‘17 - Week 3 (14th to 20th)
- Bullion prices in the IT capital of the country were on the decline during the third week of August as local demand and overseas demand were both lower than expected.
- Gold traded at Rs.2,915 per gram on 14 August, with the price remaining constant till 17 August.
- Local demand was poor in spite of favourable market conditions brought about by a low U.S. dollar rate.
- Gold price in Banglore fell to Rs.2,913 per gram on 18 August due to a slight resurgence in the U.S. market on account of the upcoming U.S. Federal Reserve meeting.
- A decline in Asian demand due to a recovering U.S. dollar led to gold falling further to Rs.2,910 per gram on 19 & 20 August.
August 2017 – Week 4 (21st - 27th)
- In Bengaluru, gold started trading at Rs.2,903 per gram.
- Rates went up to Rs.2,908 per gram on the 22nd before dropping to Rs.2,903 per gram on the 23rd as demand fluctuated.
- On the 24th, gold rate in Bangalore went up to Rs.2,913 per gram as investors began to take advantage of a fallen US dollar rate.
- Gold price in Bangalore remained unchanged on the 25th before going up to Rs.2,927 per gram on the 26th as jewellers scaled up their purchases.
- The last two days of August week 4 saw gold prices remain unchanged, owing to steady demand.
August 2017 – Week 5 (28th - 31st)
- Demand for gold was on the increase in the country’s IT hub, with the precious metal trading at Rs.2,927 per gram on 28 August.
- Prices rose as the continued threat of aggression by North Korea led to increased demand for safe-haven assets like gold, with gold prices rising by Rs.49 to trade at Rs.2,976 per gram on 29 August.
- Local demand was stable but diminished as gold prices soared, leading to a drop in demand and subsequently gold rate in Banglore fell to Rs.2,966 per gram on 30 August.
- The instability in markets persisted but demand fell as investors put off purchases due to high rates, resulting in gold being priced at Rs.2,956 per gram on 31 August.
|Parameters||Gold price (24 karat)|
|July 1 Rate||Rs.2,950 per gram|
|July 31 Rate||Rs.2,874 per gram|
|Highest Rate in June||Rs.2,950 per gram on 1 July|
|Lowest Rate in June||Rs.2,815 per gram from 15 to 17 July|
|Overall Monthly Performance||Decline|
July 2017 - Week 1 (1st to 9th)
- Gold traded at Rs.2,950 per gram on 1 July in the city of Bengaluru and continued to trade at this price on 2 July as well.
- There were a few marginal variations noted in the rate of gold as the week progressed. However, there were no marked changes in the price of gold post implementation of GST.
- Gold traded at Rs.2,940 per gram on 3 July before reducing to Rs.2,915 per gram from 4 July to 6 July as a result of low demand from domestic markets.
- As the week progressed, the rate of gold continued to decline.
- This yellow metal was priced at Rs.2,880 per gram on the last two days of the week and was also the lowest at which gold traded, for the first week of July in Bengaluru.
July 2017 - Week 2 (10th to 16th)
- Though Bengaluru seemed to be performing well during the initial few days of the week, there was a massive price drop that cut off the momentum.
- When trading began for the week on the 10th, gold prices were recorded at Rs.2,875 per gram.
- Prices dropped to Rs.2,870 per gram on the 11th but picked back up on the 12th to end the day at Rs.2,890 per gram.
- On 13th, gold was trading at Rs.2,890 per gram but dropped by Rs.94 to go down to Rs.2,796 per gram on the 14th - making it the biggest day-to-day price drop in all of India.
- There was some relief, however, as prices went back up on the 15th bringing bullion prices up to Rs.2,815 per gram.
- When the second week of July ended on the 16th,
July 2017 - Week 3 (17th to 23rd)
- The price of gold in the country’s IT capital was in line with trends seen across other cities, as gold opened at Rs.2,815 per gram on 17 July.
- Gold rate in Bangalore jumped to Rs.2,830 per gram on 18 July as global markets were weak, leading to greater demand for ‘safe-haven assets’ such as gold.
- Prices cooled off as the week progressed, with a marginal increase recorded at Rs.2,833 per gram on 20 July due to a paucity of local demand.
- Gold price in Banaglore spiked as the week drew to a close and the U.S. dollar continued to trade poorly against other global currencies.
- Gold was priced at Rs.2,966 per gram on 22 July, with the price remaining the same as the week ended on 23 July.
July 2017 - Week 4 (24th to 31st):
- Gold prices in Bengaluru fluctuated considerably during the last week of July, due to a constant change in demand.
- On the 24th, gold prices were recorded at Rs.2,866 per gram, which then went up to Rs.2,869 per gram on the 25th.
- However, demand from local buyers fell which led to gold prices falling to Rs.2,850 per gram on the 26th - a Rs.19 decrease compared to the previous day.
- Thanks to a fall in US dollar rates and the positive trading cues, prices increased by Rs.24 for the yellow metal’s to trade at Rs.2,874 per gram on the 27th.
- On the 28th, prices fell slightly as local investors were expecting more price corrections and consequently refrained from making jewellery purchases.
- The 29th saw gold demand hitting saturation levels as it traded at Rs.2,872 per gram and remained unchanged on the 30th of July.
- During the last day of the week and month, gold prices went up marginally by Rs.2,874 per gram.
|Parameters||Gold price (24karat)|
|June 1 Rate||Rs.2,933 per gram|
|June 30 Rate||Rs.2,920 per gram|
|Highest Rate in June||Rs.2,965 per gram on 8 June|
|Lowest Rate in June||Rs.2,895 per gram on 20 June|
June 2017 - Week 1 (1st-4th):
- Bangalore too saw gold prices gain which came after a fall on the second day of the week.
- On the 1st of June, gold was priced at Rs.2,933 per gram - an increase of Rs.15 per gram from the previous day.
- However, prices went down to Rs.2,915 per gram on the 2nd as there was a sharp decline in demand.
- Gold rates gained significantly on the 3rd amid news that US-EU relationship was going through a bit of a rough patch.
- Prices saw an increase of Rs.25 to reach Rs.2,940 per gram on the 3rd.
- Till the end of the week on the 4th, gold prices remained at Rs.2,940 per gram.
June 2017 - Week 2 (5th - 11th)
- Karnataka’s capital Bangalore witnessed a similar trend to that of other states and saw prices drop initially before dropping down as the week drew to a close.
- On the 5th of May, gold was priced at Rs.2,955 per gram, which then went up to Rs.2,960 per gram on the 6th and remained there on the 7th.
- The 8th saw prices increase slightly to end at Rs.2,965 per gram.
- Prices slid by Rs.25 per gram on the 9th as US dollar strengthened over other currencies.
- Over the 10th and the 11th, gold prices remained the same at Rs.2,930 per gram as there was no demand in the domestic market.
June 2017 - Week 3 (12th-18th)
- Gold opened at Rs.2,925 per gram on the 12th of the month in Bangalore, which was relatively low as compared to the price noted in other cities in the country.
- The gold rate in Bangalore increased by Rs.5 the next day to trade at Rs.2,930 per gram.
- This rate was noted on the 14th of June as well due to stable demand.
- There were certain issues observed due to lack of clarity with respect to GST with respect to the import of bullion by banks.
- As the week progressed, the rate of gold continued to decline and traded at Rs.2,910 per gram on the last two days of the month.
June 2017 - Week 4 (19 to 25)
- The value of the yellow metal rose over the course of the fourth week in the country’s IT capital thanks to positive trends and strong demand.
- Gold was priced at Rs.2,905 per gram on 19 June as demand from jewellers began to rise due to increased buying before the implementation of the Goods and Services Tax (GST).
- Prices fluctuated over the next few days, with gold dropping to Rs.2,895 per gram on 20 June before recovering to trade at Rs.2,910 per gram on 22 June.
- Gold prices jumped to Rs.2,920 per gram on 24 June as Indian markets were unstable due to uncertainty over the impact of GST on the economy, which increased demand for the safe-haven asset.
- The price was recorded at Rs.2,920 per gram as the week ended on 25 June even though international demand for the metal was waning.
June ’17 – Week 5 (26 to 30)
- The price of gold in the IT capital of India was subject to some fluctuations though demand was consistent for the most part.
- Gold traded at Rs.2,918 per gram on 26 June before falling to Rs.2,900 per gram on 27 June as international demand for the yellow metal sank due to a resurgent U.S. Dollar.
- The continued demand from local jewellers due to the impending GST launch helped bolster prices locally, resulting in gold trading at Rs.2,960 per gram on 28 June, a rise of Rs.60 per gram in just a day.
- Vacillating demand led to prices falling the following day as gold traded at Rs.2,920 per gram on 29 June.
- The U.S. Dollar continued to fluctuate but had little impact on demand and prices in Bangalore.
- The month ended with gold trading at Rs.2,920 per gram on 30 June.
|May 1st Rate||Rs.2,945 per gram|
|May 31st Rate||Rs.2,918 per gram|
|Highest Rate in May||Rs.2,945 per gram on 1st May|
|Lowest Rate in May||Rs.2,850 per gram from 6th-8th May|
May 2017 - Week 1 (1st-7th)
- There were a few variations noted in the rate of gold in Bangalore during the first week of May.
- Gold traded at Rs.2,945 per gram on the 1st of May but fell by Rs.40 the next day to trade at Rs.2,905 per gram.
- Due to steady demand, this rate was noted the next day as well.
- As the week progressed however, the rate of gold continued to reduce due to a fall in the demand.
- Gold traded at Rs.2,875 per gram on the 4th and 5th of May before reducing again.
- On the last two days of the week, gold was priced at Rs.2,850 per gram due to low demand for this metal.
May 2017 – Week 2 (8th -14th)
- Gold was priced at Rs.2,850 per gram on 8th May in Bangalore, with the prices rising to Rs.2,855 per gram on 9th May due to a slight increase in local demand.
- Prices began to dip as the week progressed due to a decline in demand for the metal as markets performed well, with the U.S. Dollar also rising on strong trading.
- A drop in industrial demand also affected the price of gold, which fell to Rs.2,840 per gram on 11th May amidst a lowering of local demand.
- Gold rate in Bangalore were stable as gold ended the week at Rs.2,840 per gram on 14th May, recording a drop in price of Rs.10 during the week.
May 2017 - Week 3 (15th - 21st)
- In Bangalore, gold price remained the same over the first three days of week 3, before surging by a significant margin in the later half.
- On 15th, gold in Bangalore was trading at Rs.2,845 per gram and as demand remained largely stable, rates didn’t change till the 17th.
- However, as US markets fell after its President Donald Trump trying to impose control on a federal investigation, rates went up by Rs.60 to Rs.2,905 per gram.
- This increase was the highest single-day rise to be seen since Great Britain chose to exit the European Union back in June of last year.
- As the surge was only a temporary trend, gold rates went down to Rs.2,900 per gram on the 19th.
- Due to demand picking up on the 20th, gold rates went up to Rs.2,908 per gram and remained there till the end of the week on the 21st.
May 2017 – Week 4 (22nd - 28th)
- Gold was priced at Rs.2,905 per gram in the city of Bangalore due to slightly low demand for this yellow metal from domestic markets.
- There were a number of variations noted in the rate of gold during the fourth week of May.
- The rate of gold increased to trade at Rs.2,930 per gram on the 23rd of May before falling on the 24th to Rs.2,915 per gram. However, the Manchester blasts is thought to have had no impact on the price of gold.
- Gold continued to trade at Rs.2,915 per gram from the 24th of May until the 26th of May due to low but sustained demand.
- On the last two days of the week, gold was priced at Rs.2,930 per gram.
May ’17 – Week 5 (29th to 31st)
- Gold traded at Rs.2,930 per gram on 29th May, reflecting trends seen across the country as gold prices fell due to a paucity of demand.
- A strong U.S. Dollar and stable markets also led to reduced demand for the precious metal.
- Prices rose to Rs.2,938 per gram on 30th May due to an increase in local demand but prices fell to Rs.2,918 per gram on 31st May.
- Gold prices declined by 0.91% over the course of the month due to declining demand by jewellers and unfavourable market conditions.
April 2017 - Week 1 (1st-9th)
April 2017 - Week 2 (10th-16th) April 2017 - Week 3 (17th-23rd)
April 2017 - Week 2 (10th-16th)
April 2017 - Week 3 (17th-23rd)
|March 1st Rate||Rs.3,005 per gram|
|March 31st Rate||Rs.2,900 per gram|
|Highest Rate in March||Rs.3,005 per gram on 1st March|
|Lowest Rate in March||Rs.2,855 per gram on 15th March|
March 2017 - Week 1 (1st - 4th):
- Silicon city Bangalore saw some fluctuations with regard to gold rates during the first week of March.
- The week started with gold trading at Rs.3,005 per gram but dropped to Rs.2,990 per gram - a decrease of Rs.15 per gram.
- On 3rd, prices went down by Rs.25 per gram to hit Rs.2,965 per gram as US dollar strengthened after a brief period of slow growth.
- On the last day of the week, prices stabilised to reach Rs.2,970 per gram.
March 2017 - Week 2 (5th - 11th):
- In Silicon Valley of India - Bangalore, gold rates fluctuated quite a lot over the second week of March.
- The week began with gold trading at Rs.2,970 per gram but went down to Rs.2,930 per gram by the 8th.
- From the 9th to the 11th, gold prices went down by a further Rs.30 as demand decreased.
- Gold prices in Bangalore ended at Rs.2,900 per gram when week 2 of March ended.
March 2017 - Week 3 (12th-18th):
- The price of gold in Bangalore fluctuated due to dips in demand, though the overall trend reflected a marginal decline in the price.
- Gold was priced at Rs.2,900 per gram on 13th March as the markets were stable and there were minor variations in the rate of gold.
- Gold traded at Rs.2,880 per gram on 14th March and then fell to Rs.2,855 per gram on 15th March as there was a setback in the industrial demand.
- Rate of gold increased to Rs.2,885 per gram on the 16th of March as well owing to higher demand for this precious metal.
- The rate of gold continued to rise, trading at Rs.2,890 per gram on 17th March.
- This rate was steady until the end of the week due to steady demand for gold. The week ended with a price difference of Rs.10 in the rate of gold.
March 2017 - Week 4 (19th-25th):
- Except two small changes at the beginning of the week, gold price trends remained largely unhindered during the fourth week of March.
- On 20th, gold was trading at Rs.2,900 per gram but fell to Rs.2,885 per gram on 21st as domestic demand took a hit.
- The fall was short lived as prices bounced back by Rs.35 per gram to trade at Rs.2,920 per gram on 22nd.
- Over the next four days, gold rates remained unchanged as demand sustained well against a strengthening dollar.
- The week ended with gold trading at Rs.2,920 per gram.
March 2017- Week 5 (26th-31st):
- Startup city, Bangalore, saw gold prices rise at the beginning of the week but fall towards the end.
- On 27th, gold in Bangalore was priced at Rs.2,920 per gram and increased to Rs.2,925 per gram on 28th as demand went up.
- The 29th saw gold prices remain unchanged but decreased on 30th to trade at Rs.2,915 per gram.
- Rates went down again at the end of the week on 31st to trade at Rs.2,900 per gram - a decrease of Rs.15 from the previous day’s prices.
|February 1st Rate||Rs.2,945 per gram|
|February 28th Rate||Rs.3,005 per gram|
|Highest Rate in February||Rs.3,005 per gram on 27th & 28th February|
|Lowest Rate in February||Rs.2,945 per gram from 1st-5th February|
February 2017 - Week 1 (1st-4th):
- Silicon city Bangalore saw no fluctuation at all during the first week.
- When the week began gold was seen trading at Rs.2,945 per gram, which didn’t change for the rest of the week as domestic markets held steady.
- The week ended with gold still trading at Rs.2,945 per gram.
February 2017 - Week 2 (5th-11th)
- Gold prices increased over the second week in Bangalore, with demand rising sharply towards the middle of the week.
- Gold was priced at Rs.2,945 per gram on 5th February in the country’s IT capital, as brisk demand kept prices table.
- The price rose to Rs.2,980 per gram on 7th February as industrial demand rose on a declining U.S. Dollar.
- Sluggish markets led to the price rising by Rs.5 per gram to trade at Rs.2,985 per gram on 9th February.
- A dip in demand led to prices falling as the week ended, with gold trading at Rs.2,970 per gram on 11th February, recording an increase of Rs.25 per gram.
February 2017 - Week 3 (12th-18th)
- The price of gold in Bangalore fluctuated due to dips in demand, though the overall trend reflected an increase in the price.
- Gold was priced at Rs.2,970 per gram on 12th February as the markets were stable and prices did not change from the previous week.
- Gold traded at Rs.2,960 per gram on 13th February and then fell to Rs.2,955 per gram on 14th February as industrial demand suffered a setback.
- Gold prices fell further to Rs.2,948 per gram on 15th February as demand continued to fall.
- Prices recovered the following day, trading at Rs.2,970 per gram on 16th February, and rising to Rs.2,980 per gram on 17th February.
- The week ended with gold trading at Rs.2,980 per gram on 18th February to register a weekly increase of Rs.10 per gram.
February 2017 - Weeks 4 & 5 (19th-28th)
- Gold prices in Bangalore were constant for most of the week, with a few fluctuations recorded.
- Gold was priced at Rs.2,980 per gram on 19th February and fell to Rs.2,970 per gram on 20th February due to a dip in domestic demand.
- Prices were constant till 22nd February, with the price rising to Rs.2,975 per gram on 23rd February.
- Gold reached Rs.2,995 per gram on 24th February as markets fell, with the price remaining constant till 26th February.
- Gold reached a monthly high of Rs.3,005 per gram on 27th February as gold futures traded high on the exchanges on a sliding U.S. Dollar.
- Gold traded at Rs.3,005 per gram on 28th February, registering a weekly increase of Rs.25 per gram and 2.03% increase in its price over the month.
|January 1st Rate||Rs.2,820 per gram|
|January 31st Rate||Rs.2,930 per gram|
|Highest Rate in January||Rs.2,970 per gram on 23rd & 24th January|
|Lowest Rate in January||Rs.2,820 per gram on 1st & 2nd January|
January 2017 - Week 1 (1st to 7th)
- Bangalore was another city that witnessed a positive growth in gold prices during the first week.
- Thanks to relatively better cash flow compared to the last two months, gold prices surged for most of the week.
- On 1st, gold prices for 24 karat gold stood at Rs.2,820 per gram before continuing at the same rate till the end of 2nd as well.
- The 3rd saw prices increase by Rs.5 for gold to trade at Rs.2,825 per gram.
- When the business day began on the 4th, prices had again increased, this time by Rs.15, for gold to exchange at Rs.2,840 per gram.
- The 5th saw prices peak yet again for gold to trade at Rs.2,850 per gram, a trend which continued on till the end of the 6th.
- At the time of closing on the 7th, gold prices were up a little more as the metal traded at Rs.2,870 per gram.
January 2017 - Week 2 (8th to 15th)
- Gold prices saw increases as the week progressed in Bangalore, though growth was a bit sluggish.
- Gold was priced at Rs.2,870 per gram on 8th January, with the price remaining constant for the next day.
- Higher demand from the retail sector led to a marginal increase in price, as gold traded at Rs.2,890 per gram on 10th January.
- Prices rose as Indian stock markets reflected the downward trend seen overseas, resulting in higher demand for bullion.
- Gold traded at Rs.2,920 per gram on 12th January, an increase of Rs.30 per gram in a single day as demand peaked.
- The price staying constant for the rest of the week as demand was steady, thanks to sustained demand from the industrial sector.
- Prices rose by Rs.50 per gram over the week to close at Rs.2,920 per gram on 15th January.
January 2017 - Week 3 (15th to 21st):
- Garden city Bangalore too was subject to heavy fluctuations with regards to gold pricing for much of week 3.
- The week began on the 15th with gold trading at Rs.2,920 per gram which later went up to Rs.2,945 per gram - a solid increase of Rs.25 per gram.
- On 16th, prices again climbed up by Rs.10 for the yellow metal to trade at Rs.2,965 per gram.
- Demand for gold increased during this week as Donald Trump’s presidential swearing in ceremony was nearing, causing the market to react hastily.
- The 19th, however, prices fall by Rs.15 to hit Rs.2,950 per gram as demands fell suddenly.
- On 20th, prices increased slightly to hit Rs.2,952 per gram and further increased to Rs.2,960 per gram at the end of the week on the 21st.
January 2017- Weeks 4 & 5 (22nd to 31st)
- The price of gold in the country’s IT hub saw a gradual increase as the week began, but prices fell towards the end of the week.
- Gold was priced at Rs.2,960 per gram on 22nd January, with prices rising to Rs.2,970 per gram on 23rd January as fears over new government policies under Donald Trump led to markets falling.
- Prices continued to dip as the week went on due to reducing demand from Asia on account of the upcoming Lunar New Year, as prices fell to Rs.2,015 per gram on 27th January.
- Domestic demand was also muted, resulting in gold trading at Rs.2,930 per gram on 31st January.
Gold is generally sold in units like tolas or sovereign, grams, kilograms, troy ounces, tonnes, metric tonnes etc. Gold prices are generally quoted on 10 grams of the metal. Gold purity is measured in karats, with 24 karats denoting pure gold. 22 karat gold is another popular variety with residents of Bangalore. Gold rate in Bangalore is provided for both 22 and 24 karat varieties.
- Gold rates in Bangalore in last 3 years (prices are in Rs/gram and approximated in places)
- Gold rates in Bangalore in 2015 (prices are in Rs/gram and approximated in places)
24 karat gold: Gold prices in Bangalore in mid-2012 were at the level of Rs.3,000. Prices peaked on 14th September 2012 at Rs.3,267 and remained at over-3,100 level till the end of the year. 2013 saw a gradual decline in gold prices owing to measures taken by the government to curb gold imports. Prices hit a low of Rs.2,587 on 28th June 2013 and continued at same levels for the next 3 months, before increasing steeply to over-3,200 level around year-end. 2014 didn’t see any steep decline or appreciation in 24 carat gold rates in Bangalore, however prices continued to decline throughout the year, with year-end prices at Rs.2,721.
22 karat gold: Price for 22 karat gold in mid-2012 were at Rs.2,700 level. Prices increased during the year and peaked at Rs.3,028 on 14th September 2012. Prices remained above Rs.3,000 till the end of the year. 2013 saw a sharp decline in prices owing to government policies, with prices touching a low of Rs.2,400 on 28th June 2013. The market recovered during the next 2 months and peaked at Rs.3,261 on 28th August before gradually declining to Rs.2,750 at the end of the year. Prices continued to fall throughout the year 2014, and ended at Rs.2,500 level.
24 karat gold: 2015 started with gold priced at Rs.2,694 for 24 karat variety in Bangalore. Prices peaked on 20th January to Rs.2,854 and stayed at over-2,700 mark till the end of February, with an exception of 21st January when prices tanked to sub-2,700 level. April and May saw a rejuvenation of gold prices that declined in March, and rallied to Rs.2,801 on 24th May 2015.
22 karat gold: Prices were around Rs.2,520 at the start of the year, before peaking at Rs.2,677 on 21st January 2015. Gold rate gradually declined over the next two months and touched a low of Rs.2,444 on 18th March. Since then, prices have seen a slight rise over the next two months, and peaked at Rs.2,621 on 18th May before ending the month at Rs.2,557.
Inflation and market volatility are big reasons for consumers opting for gold in Bangalore. Uncertainties in the market can be overcome to some extent as gold almost always sells in the market at good resale value. Market volatility can cause investments in the traditional options such as equities to go down and consumers opting for solid gold instead. Gold rates in Bangalore may see upturns and downturns, but in the long run the returns usually beat any offsets from inflation or volatility.
Gold investments can be done in various forms, from buying jewelry from the local store, to investing in the gold markets without actually holding any physical gold. Major avenues for investment in gold are:
Jewelry and ornaments: Gold jewelries are purchased during occasions such as marriages, festivals such as Diwali and a few other points of time in the year. However, the market gold rate in Bangalore is meant for pure metal and not works done on it. As such gold jewelries cost include both gold rate and workmanship. When reselling the ornaments, the consumers may not get the same value as he paid to buy them.
Gold bullions: These represent bulk gold that can be purchased as ingots or bars. Gold bars are generally available at the market gold prices in Bangalore. These bars can be purchased from any bullion dealer in the city and represent good value on the investment as returns are close to actual investment. Gold bullions are available in larger quantities like kilograms.
Gold coins: Gold coins are available in various purities in the city. The coins can be purchased from private dealers or banks. The coins are usually marked by the selling entity and are sold at slightly higher prices than the actual gold rates in Bangalore.
Where to buy Gold in Bangalore from?
There are many gold dealers in the city including jewelers, bullion dealers, banks, private sellers and others. Some of the major gold dealers in the city include Bhima Jewellers, Shubh Jewellers, Malabar Gold, Jos Alukkas, GRT Jewellers, P.C. Chandra Jewellers, Khazana Jewellers, Abharan Jewellers, Tanishq and lots more. These dealers sell a variety of gold items including jewelry, coins and custom products, among others. Jewelers and private retailer also accept buy backs from individual customers. Banks will sell coins, bars and other items but buy back option is generally not available.
- Also Check:Gold Rate in Karnataka
Also Check Gold Price in NearBy Cities of Bangalore
|Gold Rate In Mangalore||Gold Rate In Mysore||Gold Rate In Belgaum|
|Gold Rate In Gulbarga||Gold Rate In Chennai||Gold Rate In Vellore|
|Gold Rate In Bellary||Gold Rate In Shimoga||Gold Rate In Udupi|
|Also Know: Silver Rate in Bangalore|
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