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Gold Price in Karnataka
Karnataka is not just home to one of the largest gold mines of India, the Kolar Gold Mines, but is also one of the most inclined towards buying and selling of this yellow metal. From centuries gold has been seen as a significant part of all auspicious occasions of the country. Be it festivals or weddings, exchange of gold forms an integral part of the Indian culture. Nowhere in the world is gold so highly revered as in the Indian sub-continent. Karnataka has a host of jewelers and gold traders who sell this metal to customers. These could be retail customers or wholesale customers.
The demand for gold in the state of Karnataka, peaks during the time of weddings and festivals. Some of the most important festivals for buying gold are Diwali, Akshaya Tritya and Dusshera. People in Karnataka are fond of wearing and gifting gold jewelry. Various designs ranging from modern to traditional are being furnished by various jewelers in Karnataka in order to mold this precious metal according to the latest fashion trends. Gold coins and gold bars are considered ideal gifts for gifting to family members.
Also check : Today Silver Rate in Karnataka
Gold Rate Trend in Karnataka for October 2020 to December 2020 (per gram of 24 karat gold)
Factor | October | November | December |
1st Day | Rs.5,202 per gram | Rs.5,194 per gram | Rs.4,877 per gram |
Last Day | Rs.5,193 per gram | Rs.5,146 per gram | Rs.5,096 per gram |
Highest Price | Rs.5,254 per gram on 13 October | Rs.5,302 per gram on 10 November | Rs.5,138 per gram on 21 December |
Lowest Price | Rs.5,116 per gram from 21 October | Rs.4,910 per gram on 29 November | Rs.4,877 per gram on 1 December |
Trend | Decline | Decline | Incline |
Change | -0.17% | -0.92% | 4.49% |
Quarterly Gold Rate in Karnataka from October 2020 to December 2020:
- The prices of gold in Karnataka for the month of October opened at Rs.5,202 for a gram and closed at Rs.5,193 for a gram, respectively. Overall, gold prices declined by 0.17% in the state. The highest and lowest rates that the yellow metal touched for the month were Rs.5,254 and Rs.5,116 for a gram, respectively.
- In November, the prices of gold on 1 November were at Rs.5,194 for a gram and Rs.5,146 for a gram, respectively. Over the course of the month, gold prices declined by 0.92% in the state. The lowest and highest rates that the yellow metal touched in the month were Rs.4,190 and Rs.5,302 for a gram, respectively.
- For the month of December, gold rates saw an incline of 4.49%. On 1 December, the price of the yellow metal was at Rs.4,877 per gram. However, by the last day of the month, gold rates increased to Rs.5,096 per gram. The highest and lowest rates that the yellow metal touched for the month were Rs.5,138 per gram and Rs.4,877 per gram, respectively.
Gold Rate Trend in Karnataka for July 2020 to September 2020 (per gram of 24 karat gold)
Factor | July | August | September |
1st Day | Rs.4,984 per gram | Rs.5,501 per gram | Rs.5,127 per gram |
Last Day | Rs.5,496 per gram | Rs.5,295 per gram | Rs.5,171 per gram |
Highest Price | Rs.5,496 per gram on 31 July | Rs.5,761 per gram on 8 August | Rs.5,357 per gram on 17 September |
Lowest Price | Rs.4,946 per gram from 7 July | Rs.5,066 per gram on 29 August | Rs.4,946 per gram on 26 September |
Trend | Incline | Decline | Decline |
Change | 10.2% | -3.75% | -0.85% |
Quarterly Gold Rate in Karnataka from July 2020 to September 2020:
- The prices of gold in July in Karnataka opened at Rs.4,984 per gram and closed at Rs.5,496 per gram. The prices of gold had increased by 10.2% for this month. The outbreak of Covid-19 all over the world and the stimulus measures introduced by governments and central banks were the reasons behind the prices of gold rates rising significantly.
- On 1 August 2020, the price of gold was recorded to be at Rs.5,501 for a gram. By the end of the month, price of gold had reached Rs.5,295 per gram. Prices of gold in Karnataka had dropped as many countries decided to reopen their economies. Gold rates declined by 3.75% in August.
- In September, the rates of the precious metal had dropped by 0.85%. Gold prices dropped due to the increase in appetite for riskier products. The gold prices in Karnataka for the month of September opened at Rs.5,127 and closed at Rs.5,171.
Trend of Gold Rate in Karnataka for June 2020 (rates per gram of 24 karat gold)
Parameter | Gold price (24 karat) |
June 1 Rate | Rs.4,817 per gram |
June 30 Rate | Rs.4,991 per gram |
Highest Rate in June | Rs.4,991 per gram on 30 June |
Lowest Rate in June | Rs.4,724 per gram on 8 June |
Overall Performance | Incline |
Percentage Change | 3.61% |
Trend of Gold Rate in Karnataka for May 2020 (rates per gram of 24 karat gold)
Parameter | Gold price (24 karat) |
May 1 Rate | Rs.4,681 per gram |
May 30 Rate | Rs.4,803 per gram |
Highest Rate in May | Rs.4,900 per gram on 20 May |
Lowest Rate in May | Rs.4,587 per gram on 6 May |
Overall Performance | Incline |
Percentage Change | 2.60% |
Trend of Gold Rate in Karnataka for April 2020 (rates per gram of 24 karat gold)
Parameter | Gold price (24 karat) |
April 1 Rate | Rs.4,053 per gram |
April 30 Rate | Rs.4,731 per gram |
Highest Rate in April | Rs.4,800 per gram on 27 April |
Lowest Rate in April | Rs.4,053 per gram from 1 April to 5 April |
Overall Performance | Incline |
Percentage Change | 16.7% |
Trend of Gold Rate in Karnataka for March 2020 (rates per gram for 24 karat gold)
Parameter | Gold price (24 karat) |
March 1 Rate | Rs.4,090 per gram |
March 31 Rate | Rs.4,053 per gram |
Highest Rate in March | Rs.4,368 per gram on 7 March |
Lowest Rate in March | Rs.3,953 per gram on 20 March |
Overall Performance | Decline |
Percentage Change | -0.90% |
Trend of Gold Rate in Karnataka for February 2020 (rates per gram for 24 karat gold)
Parameter | Gold price (24 karat) |
February 1 Rate | Rs.4,014 per gram |
February 29 Rate | Rs.4,195 per gram |
Highest Rate in February | Rs.4,232 per gram on 25 February |
Lowest Rate in February | Rs.3,956 per gram on 7 February and 8 February |
Overall Performance | Incline |
Percentage Change | 4.50% |
Trend of Gold Rate in Karnataka for January 2020 (rates per gram for 24 karat gold)
Parameter | Gold price (24 karat) |
January 1 Rate | Rs.3,860 per gram |
January 31 Rate | Rs.4,014 per gram |
Highest Rate in January | Rs.4,053 per gram on 9 January |
Lowest Rate in January | Rs.3,848 per gram on 2 January |
Overall Performance | Incline |
Percentage Change | 3.98% |
Also Check Gold Price in Metro Cities
Today's Gold Rate In Bangalore | Today's Gold Rate In Delhi | Today's Gold Rate In Hyderabad |
Today's Gold Rate In Kolkata | Today's Gold Rate In Mumbai | Today's Gold Rate In India |
Also Check Petrol Price and Diesel Price in Karnataka
Gold investment avenues in Karnataka
Gold is bought and sold in Karnataka as jewelry as well as an investment tool. Since gold prices have historically always been on the rise, the metal acts like a hedge for inflation in India. Gold is thus a favorite among households in Karnataka. Some of the most popular ways of obtaining gold are listed below.
- Retail buying of gold
- Wholesale buying of gold
Retail buying of gold in Karnataka can be done either via jewelry stores or via banks that offer pure gold coins. Both these methods are available both online as well as offline. Depending upon whether you are buying jewelry or gold coin or bar, the price may differ since the purity of gold may vary. Gold prices in India are in general so closely linked to market forces that they tend to fluctuate on a regular basis. Most customers are quick to buy it when the prices are low and a lot of these customers sell it when the prices soar and thus are able to make substantial profit.
Wholesale buying of gold is not permitted by the government except for smaller quantities. Gold trading markets are places where customers and retailers can buy gold in large quantities. Most gold merchants buy their gold for further processing, from these markets. Buying in bulk quantities offers these merchants better rates which they can utilize towards making profits when they sell their finished jewelry products.
FAQs About Gold Rate in Karnataka
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Will gold prices decrease in Karnataka?
Gold prices may or may not fall as there are many factors which affect the price of the yellow metal in Karnataka and in India. These factors include the trend of the international bullion market, the global equities market, crude oil prices and the value of the U.S. dollar.
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What factors do I check before buying gold in Karnataka?
A few important things to keep in mind before buying gold in Karnataka are:
- The level of purity.
- The price of gold per gram.
- Buy-back terms of the lender.
- Certification of the metal.
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Will the gold price in Karnataka keep changing?
The gold price in Karnataka may keep fluctuating or changing due to various factors which affect the price of gold in the country.
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What is Hallmark gold?
If you see a BIS hallmark on the gold you purchase, it means that the gold is adhering to the standard set by the BIS in the country.
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What international factors affect the gold rate in Karnataka?
Many factors affect the price of gold in Karnataka such as crude oil prices, the value of international currencies, etc.
Also Check Gold Prices in the Cities of Karnataka
Know- Gold Rate Trend in 2015
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