• Gold Rate In Mangalore

    Daily Gold Rates
    Date Standard Gold (22 K) Pure Gold (24 K)
    1 gram 8 grams 1 gram 8 grams
    10 Dec 2018 ₹ 2,950 ₹ 23,600 ₹ 3,098 ₹ 24,784
    09 Dec 2018 ₹ 2,950 ₹ 23,600 ₹ 3,098 ₹ 24,784
    08 Dec 2018 ₹ 2,903 ₹ 23,224 ₹ 3,048 ₹ 24,384
    07 Dec 2018 ₹ 2,900 ₹ 23,200 ₹ 3,045 ₹ 24,360
    06 Dec 2018 ₹ 2,900 ₹ 23,200 ₹ 3,045 ₹ 24,360
    05 Dec 2018 ₹ 2,895 ₹ 23,160 ₹ 3,040 ₹ 24,320
    04 Dec 2018 ₹ 2,860 ₹ 22,880 ₹ 3,003 ₹ 24,024
    03 Dec 2018 ₹ 2,840 ₹ 22,720 ₹ 2,982 ₹ 23,856
    02 Dec 2018 ₹ 2,840 ₹ 22,720 ₹ 2,982 ₹ 23,856
    01 Dec 2018 ₹ 2,840 ₹ 22,720 ₹ 2,982 ₹ 23,856

    *Disclaimer: Bankbazaar makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are susceptible to change with Market value and provided on an as-is basis. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. We accept no liability for any loss arising from the use of the data contained on this website.

    Gold Rates in Mangalore

    Gold rates in Mangalore depend on various national and global factors, including but not limited to, imports, tariffs, oil prices, demand and supply and strength of the dollar. The price of the yellow metal touched a 4-year low in India and to more than five-year low globally. According to experts, gold prices are unlikely to rise in the near future due to imminent hike in interest rates by the US Fed and Greece’s default crisis among others. Rural India drives most of the demand for gold at 60% with majority of the sales registered during weddings. A diminishing rural purchasing power, low crop prices and a bad monsoon could therefore, have an adverse impact on the sale of gold jewellery. However, according to World Gold Council reports, given that 50% of the Indian population is under 25 years, around 150 million weddings are likely to take place in the coming ten years.

    Most consumers in Mangalore buy gold jewellery for auspicious occasions, festivals and weddings. Dhanteras and Akshaya Tritiya attract long queues in front of jewellery stores. In addition to its obvious ornamental uses, gold is used as a safe hedge against inflation and depreciation of other financial assets.

    Trend of Gold Rate in Mangalore for October 2018 (rates per gram)

    Parameters Gold price (24 carat)
    October 1 Rate Rs.3,017 per gram
    October 31 Rate Rs.3,140 per gram
    Highest Rate in October Rs.3,140 per gram on 31 October
    Lowest Rate in October Rs.3,014 per gram on 2 October
    Overall Monthly Performance Incline
    Percentage Change 4.07%

    Trend of Gold Rate in Mangalore for September 2018 (rates per gram)

    Parameters Gold price (24 carat)
    September 1 Rate Rs.2,984 per gram
    September 30 Rate Rs.3,017 per gram
    Highest Rate in September Rs.3,035 per gram on 26 September
    Lowest Rate in September Rs.2,972 per gram on 3 and 4 September
    Overall Monthly Performance Incline
    Percentage Change 1.10%

    Trend of Gold Rate in Mangalore for August 2018 (rates per gram)

    Parameters Gold price (24 carat)
    August 1 Rate Rs.3,146 per gram
    August 31 Rate Rs.3,082 per gram
    Highest Rate in August Rs.3,165 per gram on 6 and 7 August
    Lowest Rate in August Rs.3,082 per gram on 31 August
    Overall Monthly Performance Decline
    Percentage Change -2.03%

    August 2018 - Week 1 (1 - 5)

    • The week opened with the gold rate in Mangalore holding at Rs.2,964 per gram on 1 August with steady demand for the metal ahead of the central bank’s monetary policy review.
    • A slight dip in gold prices was noted on 2 August when the metal was traded at Rs.2,930 per gram.
    • However, as the value of the US dollar rose, on 3 August, prices of the yellow metal fell further to Rs.2,914 per gram.
    • Gold rates in Mangalore fell significantly in the first week of August as the US dollar dominated against other apex currencies.
    • The precious metal closed at Rs.2,914 per gram on 5 August. Though it increased by Rs.11 per gram on the last day of the week, the hike was insignificant.

    August 2018 - Week 2 (6 - 12)

    • Gold prices remained stable and continued trading at Rs.2,914 per gram from 6 to 9 August as the demand from local industries, jewellers, and retailers remained stable.
    • The value of the US dollar dropped after the US unemployment data was released. Though gold rates were expected to rise, fluctuating demand for the metal caused gold rates to drop.
    • The safe-haven asset traded at Rs.2.909 per gram on 10 and 11 August.
    • On the last day of the week, a slight increase in gold rates was noted. The metal traded at Rs.2,919 per gram on this day.

    August 2018 - Week 3 (13 - 19)

    • Trading commenced for the week with gold in Mangalore priced at Rs.2,919 per gram on the 13 August.
    • Amid the weakening US dollar index during the week, the demand for gold surged as investors banked on the bullion which led gold prices to rise and traded at Rs.2,930 per gram on 14 August.
    • As the value of the US dollar recovered, gold prices fell to Rs.2,919 per gram on 15 August.
    • Due to weak trend overseas, gold in Mangalore recorded holding a monthly low of Rs.2,888 per gram on 17 August.

    August 2018 - Week 4 (20 - 26)

    • Gold prices fluctuated throughout the fourth week of August in Mangalore. The week began with gold priced relatively higher at Rs.2,898 per gram on 20 August as the US dollar stabilised amid the rising trade war concerns.
    • Gold prices surged to Rs.2,909 on 22 August and increased further to Rs.2,919 per gram on 23 August in Mangalore as the value of the US dollar fell during the week after President Trump criticized the Federal Reserve for raising the US interest rates.
    • However, gold prices fell marginally and traded at Rs.2,914 during the last few days of the week as the domestic demand for the metal dropped.

    August 2018 - Week 5 (27 - 31)

    • When trading began for the fifth week, gold in Mangalore continued to trade at Rs.2,914 per gram on 27 August.
    • Demand for gold surged significantly during this week as the US dollar index lost against a basket of major emerging currencies.
    • This led gold price in Mangalore rising to a monthly high of Rs.2,964 per gram on 28 August which continued to trade at the same rate next day amid the firm trend overseas.
    • The month ended with gold in Mangalore closing slightly lower at Rs.2,959 per gram on 30 and 31 August with subdued but steady demand from local industries and jewellers.
    • Mangalore registered a profit of 0.81% in gold trade owing to the firm trends overseas that pushed demand higher during the month.

    Trend of Gold Rate in Mangalore for July 2018 (rates per gram)

    Parameters Gold price (24 karat)
    July 1 Rate Rs.2,993 per gram
    July 31 Rate Rs.2,940 per gram
    Highest Rate in July Rs.3,014 per gram on 7 July and from 10 - 11 July
    Lowest Rate in July Rs.2,940 per gram on 19, 25, 28, and 31 July
    Overall Monthly Performance Decline
    Percentage Change -1.77%

    July 2018- Week 1 (1-6)

    • The month began with the Gold rate standing at Rs.2,993 per gram, a slight drop from the last month which can be associated with the dollar price strengthening.
    • Gold prices crept up slightly on 5 July to Rs.3,008 per gram as the dollar dropped slightly, and trade policies regarding the Federal Reserve increasing interest rates created tension in the economy.
    • Gold rates held steady for the following few days as the dollar eased ahead of the Federal Reserve's policy meeting (Fed Minutes) for July.
    • The Gold rate for Mangalore stayed stable up until the end of the week as it stood at Rs. 3,008 per gram.

    July 2018- Week 2 (7-13)

    • The precious metal started off strong on Week 2 at Rs.3,014, an increase from the end of last week, that can be associated to a slight decline in dollar rates.
    • In spite of the dollar weakening, Gold rates in Mangalore dropped slightly for the next few days when it stood at Rs.3,008 per gram from 8 - 9 July.
    • The price of the metal in Mangalore decline further caused due to an increased dollar while the trade spat between China and the USA escalated. The metal’s price on 12 - 13 July stood at Rs.3,003 per gram.
    • The price of the metal in Mangalore, at the end of Week 2, remained at Rs.3,003 per gram.

    July 2018- Week 3 (14-20)

    • Gold price in Mangalore commenced at Rs.2,972 at the start of Week 3, a decrease when compared to the price of the metal at the end of Week 2.
    • The dollar price continued to climb, which did not have a substantial effect on the gold price in Mangalore for the coming few days. As on 14 July up to 17 July, the Gold rate stood around Rs.2,977 per gram.
    • Even weak demand for the precious metal unaffected its rate in Mangalore.
    • US dollar dropped from a three-week high on 19 July, which surprisingly lead to the detriment of Gold rates in Mangalore. It stood at Rs.2,940 per gram on 19 July.
    • At the end of the week, the Gold rate in Mangalore increased marginally to Rs.2,942 per gram.

    July 2018- Week 4 (21-31)

    • The week started off with the Gold price in Mangalore amounting to Rs.2,945 per gram, an increment from the end of Week 3.
    • US dollar declined to a two-week-low on 23 July, which surprisingly decreased the Gold prices in Mangalore. The Gold rate on 23 July stood at Rs.2,956 per gram.
    • On 24 July the US treasury yields rose, which failed to alter the Gold rate in Mangalore. The Gold rate stood stagnant at Rs.2956 per gram.
    • On 26 July, the Gold rate decreased despite a slip in the US dollar after the President of USA, Donald Trump and European Commission President Jean-Claude Juncker agreed to work towards eliminating trade barriers. The price of Gold in Mangalore stood at Rs.2,945 per gram.
    • The Gold rate then deteriorated further, and at the end of the month, the price in Mangalore was recorded at Rs.2,940. The percentage change of Gold rate in Mangalore was recorded to be -1.77%.

    Trend of Gold Rate in Mangalore for June 2018 (rates per gram)

    Parameters Gold price (24 karat)
    June 1 Rate Rs.3,066 per gram
    June 30 Rate Rs.2,998 per gram
    Highest Rate in June Rs.3,066 per gram on 1 June
    Lowest Rate in June Rs.32,998 per gram on 30 June
    Overall Monthly Performance Decline
    Percentage Change -2.21%

    June 2018- Week 1 (1-10)

    • Demand for gold in Mangalore was on the decrease in the first week of June as market trends pointed to the contrary.
    • Gold opened the month priced at Rs.3,066 per gram, which was also the highest rate for the month.
    • The upcoming summit between Trump and Kim led to increased confidence in the dollar and hopes of a resolution, which led to a fall in demand for bullion.
    • Prices dropped to Rs.3,029 per gram on 5 June as local demand also fell on poor global cues.
    • The possibility of a global trade war led to some pressure on the dollar, which led to gold prices rising to Rs.3,035 per gram on 8 June.
    • The G-7 as well as the Federal Reserve meetings kept investors cautious, though gold prices rose to Rs.3,056 per gram on 10 June.

    June 2018- Week 2 (11-17)

    • The summit between North Korean and American leaders took centre stage this week, with gold prices falling as investors awaited news from the meeting.
    • The precious metal traded at Rs.3,056 per gram on 11 June in Mangalore as local demand kept prices from fluctuating too wildly.
    • Prices dipped over the next few days, with gold falling to Rs.3,045 per gram as the dollar rebounded after the summit, which was touted as a success.
    • Gold briefly rose to Rs.3,101 per gram on 14 June as the Federal Reserve meeting indicated a less than favourable outcome for investors.
    • Prices dropped as the week ended, with gold priced at Rs.3,066 per gram after sluggish demand.

    June 2018- Week 3 (18-24)

    • Gold was priced at Rs.3,045 per gram on 18 June as markets were concerned over fears of a possible trade war between the United States and China, which prompted greater demand for safe-haven assets like bullion.
    • Prices were on the decline during the week as the rupee fell against the dollar, which led to reduced demand from local jewellers due to the high cost.
    • Fluctuations in the price were seen as the dollar strengthened, reducing offtake from Asian markets as European investors increased order volumes, with gold at Rs.3,024 per gram on 21 June.
    • The precious metal fell to Rs.3,008 per gram on 24 June as bullion short selling and a rising dollar rate led to falling gold demand.

    June 2018- Week 4 (25-30)

    • The last week of June saw some fluctuations in the price of gold, with the precious metal priced at Rs.3,008 per gram on 25 June due to continued poor offtake by industry.
    • Gold prices recovered over the course of the week, trading at Rs.3,014 per gram on 26 June as the persistent trade war fears led to higher retail and business demand for the metal.
    • Rising equities also dented gold’s value, but the metal rose to Rs.3,134 per gram on 27 June after a sharp drop in the dollar rate.
    • Demand for gold continued to fall, as the metal ended the month priced at Rs.2,998 per gram.

    Trend of Gold Rate in Mangalore for May 2018 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    May 1 Rate Rs.3,060 per gram
    May 31 Rate Rs.3,061 per gram
    Highest Rate in May Rs.3,103 per gram on 14 May
    Lowest Rate in May Rs.3,045 per gram on 4 and 22 May
    Overall Monthly Performance Incline
    Percentage Change 0.03%

    May 2018 - Week 1  (1st - 6th):

    • The week commenced with the bullion trading at Rs.3,060 per gram on the 1st in Mangalore.
    • The dollar rose further against a basket of currencies ahead of the two-day Federal Reserve monetary policy meeting. This led to gold rate in Mangalore plunging to Rs.3,056 per gram on the 3rd.
    • However, the Federal Reserve’s decision to gradually increase the interest rates led to the dollar weakening in the global trade. This led to gold prices improving over the next few days.
    • The week ended with gold price in Mangalore holding at Rs.3,071 per gram on the 6th as the dollar weakened amid rising geopolitical concerns.

    May 2018 - Week 2 (7th - 13th):

    • Mangalore bore witness to considerable fluctuations in gold prices this week. Rates increased and decreased over the first four days before rising over the next three.
    • When the week began on the 7th, the precious metal was priced at Rs.3,077 per gram.
    • This then rose to Rs.3,082 per gram due to increased buying but fell back to Rs.3,077 per gram on the 8th as the US dollar surged ahead of positive treasury yields.
    • A rise in local demand pushed prices in Mangalore up to Rs.3,082 per gram on the 9th. The previous day’s incline was helped by a poor inflation data in the US.
    • Gold traded at a much improved rate of Rs.3,087 per gram on the 11th before recording a Rs.16 jump to sell at Rs.3,103 per gram.
    • On the final day of this week, gold traded at Rs.3,103 per gram.

    May 2018 - Week 3 (14th - 20th):

    • Gold price in Mangalore were recorded holding at Rs.3,103 per gram on the 14th, when the week began amid positive overseas cues.
    • However, the recovering US dollar coupled with strongly performing equity markets led to gold prices plunging over the next couple days.
    • The precious metal was priced at Rs.3,092 per gram on the 15th before plunging to Rs.3,087 per gram on the 16th amid the poor trend overseas.
    • Demand declined further with the US dollar holding onto its gains over during the week and gold was recorded trading at Rs.3,060 per gram on the 17th.
    • The 18th saw bullion rates plummeting to Rs.3,087 per gram before plunging further to Rs.3,050 per gram towards the end of the week after the strengthening US dollar coupled with rising equities resulted in declining demand at the domestic front.

    May 2018 - Week 4 (21st - 27th):

    • In Mangalore, gold opened at a relatively strong rate of Rs.3,050 per gram. Due to a drop in demand ahead of a strong dollar, gold rates dropped to Rs.3,045 per gram on the 22nd.
    • The fall happened because of a poor local demand despite a positive trend in other major cities in the country.
    • On the 23rd, gold rate in Mangalore went up to Rs.3,060 per gram - a Rs.15 increase compared to the previous day.
    • A reason was this was the decline of the US dollar after the Fed minutes were made public and stock markets plummeted.
    • Local demand also surged over the next two days and gold began to trade at Rs.3,066 per gram on the 24th and then at Rs.3,067 per gram on the 25th.
    • The 26th again saw gold price in Mangalore rise to Rs.3,087 per gram before dropping to Rs.3,077 per gram on the final day of the month.

    May 2018 - Week 5 (28th - 31st):

    • Gold trading opened in Mangalore with rates holding firm at Rs.3,077 per gram on the 28th with consistent demand from domestic industries.
    • However, with the US dollar gaining against a basket of other apex currencies, gold rates dropped to Rs.3,061 per gram on the 29th.
    • Steady domestic demand despite the weak trends overseas led to gold being priced at Rs.3,061 per gram the next day.
    • The month came to an end with the yellow metal trading at Rs.3,061 per gram amid weak global cues.
    • Gold rate in Mangalore rose by 0.03% due to the firm market trends that resulted in steady local demand for much of the month.

    Trend of Gold Rate in Mangalore for April 2018 (rates per gram for 24 karat gold)

    Parameters Gold price (24 karat)
    Gold Rate on 1st April 2018 Rs.3,019 per gram
    Gold Rate on 30th April 2018 Rs.3,077 per gram
    Highest Rate in April Rs.3,098 per gram on 19 and 20 April
    Lowest Rate in April Rs.3,005 per gram on 7 April
    Overall Monthly Performance Incline
    Percentage Change 1.92%

    April 2018 - Week 1 (1st - 7th):

    • On 1st April, gold was priced at Rs.3,019 per gram and the same price tag was extended for the next two days in Mangalore.
    • The stability in gold rate in Mangalore was triggered by the unchanged USD/INR exchange rate. Moreover, the demand for the precious metal was steady.
    • Gold price was further increased to Rs.3,029 per gram on 4th. Favourable US economic reports and a devalued dollar have caused a price rise of Rs.10 per gram within the first 4 days of the month.
    • There was a steady downfall in the price of gold on 5th, 6th and 7th of April because of the sluggish gold market in Mangalore.
    • For the first week, the average gold price in Mangalore stood at Rs.3,017 per gram. The week produced both upward and downward trends and it is quite interesting to notice.

    April 2018 - Week 1 (8th - 15th):

    • The second week began with a positive trend. Gold was retailed at Rs.3,019 per gram on 8th, but the price tag further fell to Rs.3,014 per gram on 9th and 10th.
    • On 12th and 13th, gold prices in Mangalore were up by Rs.21 per gram and Rs.29 per gram respectively. In fact, this is a big deviation caused by increased demand for gold.
    • For the week, the highest rate was recorded at Rs.3,069 per gram whereas the lowest rate was registered at Rs.3,014 per gram.
    • From Rs.3,017 per gram, the average gold rate in Mangalore increased to Rs.3,037 per gram in the second week because of the stability in the demand for gold, a slightly depreciated greenback, and a marginal rise in inflation.

    April 2018 - Week 3 (16th - 22nd):

    • Gold price in Mangalore continued to move upwards during the first five days of the third week and they fell significantly on 21st and 22nd April.
    • Even though the INR gained its conversion rate almost by Rs.1 against the USD this week, gold prices were not impacted in the city.
    • Compared to the first and second weeks, the average price of gold has accelerated considerably triggered by domestic factors such as unchanged interest rates on cash deposits (CDs) and bonds.
    • Internationally, employment opportunities, GDP reports, and production reports were reported to be positive.

    April 2018 - Week 4 (23rd - 30th):

    • Gold rate in Mangalore per gram stood at Rs.3,092 on 23rd. It was expected to be stable during the last week of April by market experts.
    • As expected, on 24th, the price of precious metal dropped to Rs.3,077 per gram because of unappealing market conditions.  
    • No price differences were observed on 25th, 26th and 27th April.
    • The average gold rate was lower this week compared to the third week. This can be attributed to a strengthened dollar.
    • In April 2018, gold price in Mangalore have exhibited a mixed reaction in sync both domestic and international elements. For the entire month, growth rate was estimated to be 1.92%.

    Trend of Gold Rate in Mangalore for March 2018 (rates per gram for 24 karat gold)

    Parameters Gold price (24 karat)
    Gold Rate on 1st March Rs.3,014 per gram
    Gold Rate on 31st March Rs.3,019 per gram
    Highest Rate in March Rs.3,045 per gram on 25, 26, 28 and 29 March
    Lowest Rate in March Rs.2,977 per gram on 19 March
    Overall Monthly Performance Incline
    Percentage Change 0.16%

    March 2018- Week 1 (1-4)

    • While there were no significant fluctuations in the price of gold in Mangalore in the first week of March, there was a steady drop in the value of gold.
    • The month opened with gold trading at Rs.3,014 per gram, with prices falling to Rs.2,987 per gram on 2 March due to declining retail demand.
    • Prices recovered marginally as industrial demand was steady, resulting in prices rising to Rs.3,003 per gram on 4 March.

    March 2018- Week 2 (5-11)

    • The second week saw gold trade at a static rate before a sharp rise in price towards the middle of the week.
    • Gold was priced at Rs.3,003 per gram on 5 March as local demand did not see much movement in terms of order volumes.
    • Gold price in Mangalore dropped to Rs.2,998 per gram on 7 March before jumping to Rs.3,019 per gram on 8 March as stock markets tumbled and the dollar index dropped steeply.
    • Local demand could not keep up with demand, resulting in gold rate in Mangalore falling to Rs.2,993 per gram on 9 March.
    • The week ended with gold priced at Rs.2,998 per gram on 11 March as retail and industrial demand fell sharply.

    March 2018- Week 3 (12-18)

    • The third week opened with prices unchanged from the previous week, with gold trading at Rs.2,998 per gram on 12 March.
    • A drop in demand from jewellers saw gold prices fall to Rs.2,987 per gram on 13 March as international demand for gold was also muted.
    • A brief rise in price was recorded on 15 March when gold rose to Rs.3,003 per gram on positive cues as well as an increase in retail demand.
    • In spite of slump across bourses due to the sacking of the U.S. Secretary of State Rex Tillerson, there was no change in gold price in Mangalore.
    • Demand fell as the dollar strengthened, making gold imports more expensive, with gold trading at Rs.2,982 per gram from 16-18 March.

    March 2018- Week 4 (19-25)

    • Gold opened weakly, trading at Rs.2,977 per gram on 19 March as local demand fell further due to a strong U.S. Dollar and poor international demand for the metal.
    • A surge in demand due to shaky equity markets led to an increasing interest in gold which helped push prices to Rs.2,993 per gram on 20 & 21 March.
    • Fears over the Fed taking a hardline stance to curb rising inflation led to markets falling and a rise in demand for gold, as the metal traded at Rs.3,035 per gram on 23 March.
    • The week ended with gold rising to Rs.3,045 per gram on 25 March on positive international cues as well as a rise in industrial orders.

    March 2018- Week 5 (26-31)

    • The last week of March saw gold prices in Mangalore plunge after a strong opening due to reducing demand and declining interest in the metal.
    • Gold traded at Rs.3,045 per gram on 26 March, as stable demand from industrial units and positive international cues kept prices high.
    • The U.S. Dollar began to recover after a period of uncertainty, though the possible imposition of additional trade tariffs on China kept equity markets low.
    • Local demand fell as jewellers reduced offtake due to the end of the wedding season which led to gold falling to Rs.3,040 per gram on 27 March.
    • Gold Price in Mangalore plunged to Rs.3,014 per gram on 30 March as the dollar strengthened and domestic demand fell sharply.
    • The month ended with gold priced at Rs.3,019 per gram on 31 March to record a marginal rise of 0.16% during the month.

    Trend of Gold Rate in Mangalore for February 2018 (rates per gram for 24 karat gold)

    Parameters Gold price (24 karat)
    Gold Rate on 1st February 2018 Rs.2,998 per gram
    Gold Rate on 28th February 2018 Rs.3,014 per gram
    Highest Rate in February Rs.3,026 per gram on 17 & 18 February
    Lowest Rate in February Rs.2,951 per gram on 8 February
    Overall Monthly Performance Incline
    Percentage Change 0.53%

    February 2018- Week 1 (1st - 4th)

    • Gold price in Mangalore fluctuated in the first week of February, with the metal opening at Rs.2,998 per gram.
    • Gold rate in Mangalore rose to Rs.3,019 per gram on 2 February due to a sudden swing by equity markets but demand soon dipped due to a decline in orders by local jewellers.
    • The week ended with gold trading at a steady Rs.2,993 per gram on 4 February due to stagnant local demand and muted overseas demand.

    February 2018 - Week 2 (5th - 11th)

    • The second week began with no change in price before demand for gold rose, resulting in an increase in its price.
    • Gold traded at Rs.2,993 per gram on 5 February and jumped to Rs.3,014 per gram on 6 February due to a sharp plunge by equities.
    • Local demand was largely unaffected by the global drop in markets as gold price in Mangalore quickly fell to their lowest rates for the month, trading at Rs.2,951 per gram on 8 February.
    • A slight recovery was observed as industrial units increased demand due to a fluctuating dollar rate, which kept prices stable till the end of the week.
    • Prices stayed unchanged as the week drew to a close, trading at Rs.2,962 per gram on 11 February.

    February 2018 - Week 3 (12th - 18th)

    • A slight rise in price was recorded in the third week due to  positive market trends and a marginal increase in local demand.
    • Gold opened at Rs.2,972 per gram on 12 February as demand was steady after a period of some price fluctuation.
    • A continued drop in the dollar rate led to an increase in interest in gold as a hedge against possible losses on the markets, resulting in gold price in Mangalore rising to Rs.3,017 per gram on 15 February.
    • International demand for gold was also on the rise, which boosted local demand and kept prices stable.
    • Another sharp rise in price was observed as the week drew to a close, with gold trading at Rs.3,026 per gram on 17 February as international demand soared due to unstable equity markets.
    • The week ended with gold rate in Mangalore trading at a steady Rs.3,026 per gram on 18 February.

    February 2018 - Week 4 (19th - 25th)

    • The fourth week saw gold price in Mangalore drop marginally due to a decline in local demand, as jewellers reduced demand as a rising dollar rate made imports more expensive.
    • The start of the week saw gold trading at Rs.3,031 per gram on 19 February but prices soon fell as demand could not be sustained.
    • International demand was also muted as investors moved away from gold bonds and funds after a recovery bby equity markets.
    • A relatively calm week on the geopolitical front also led to confidence in markets, which further reduced demand for gold, which traded at Rs.3,014 per gram on 20 February.
    • Prices dropped further as the weke drew to a close, trading at Rs.2,998 per gram on 23 February as markets rallied and demand for gold fell sharply.
    • The week ended with gold rate in Mangalore recovering to close at Rs.3,008 per gram on 25 February.

    February 2018 - Week 5 (26th - 28th)

    • The last week of February saw demand for gold remain more or less constant, as the metal opened the week trading at Rs.3,008 per gram on 26 February.
    • Apprehension after the dismissal of the U.S. Secretary of State threw U.S. markets into chaos, though gold did not capitalise on plunging markets.
    • A slight rise in gold price was recorded as the month ended, with gold priced at Rs.3,014 per gram on 28 February to record a 0.53% rise in value over the course of the month.

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    Trend of Gold Rate in Mangalore for January 2018 (rates per gram for 24 karat gold)

    Parameters Gold price (24 karat)
    Gold Rate on 1st January 2018 Rs.2,941 per gram
    Gold Rate on 31st January 2018 Rs.2,998 per gram
    Highest Rate in January Rs.2,941 per gram on 1 January
    Lowest Rate in January Rs.3,020 per gram on 16 January
    Overall Monthly Performance Incline
    Percentage Change 1.93%

    January 2018 - Week 1 (1 - 7):

    • When gold trading started in Mangalore for the first day of 2018, gold was priced at Rs.2,941 per gram.
    • This increased to Rs.2,953 per gram on the 2nd of the month because the US dollar remained weak and cues from the global market remained positive.
    • On the 3rd, gold rates in Mangalore remained unchanged at Rs.2,953 per gram as demand remained steady.
    • The next day, however, saw prices drop to Rs.2,947 per gram as local demand took a hit.
    • The US dollar seemed to lose its standing in the index, which caused gold rates to hit Rs.2,966 per gram on the 5th of January.
    • A slight decline in rates was recorded on the 6th and gold traded at Rs.2,963 per gram which then continued on till the closing hours of the week.

    January 2018 - Week 2 (8 - 14):

    • When gold trading commenced for the second week of January, prices were recorded at Rs.2,963 per gram.
    • Gold price in Mangalore went up to Rs.2,969 per gram the next day as there was a positive trend overseas which helped with the domestic demand.
    • However, rates plunged down to Rs.2,958 per gram on the 10th as equities market were performing well owing to the US dollar picking itself up.
    • The 11th saw the dollar lose its ground against a basket of other emerging currencies as a result of which gold rates rose to Rs.2,976 per gram.
    • Gold price in Mangalore surged further to Rs.2,988 per gram on the 12th before stabilising at Rs.3,000 per gram. Rates recorded on the 13th were the highest for the last seven weeks, which was made possible by a rather poor dollar.
    • Strong global cues and steady local demand from industries and jewellers kept gold prices in the Rs.3,000 per gram range when the week came to an end.

    January 2018 - Week 3 (15 - 21):

    • Gold opened on a weak note when the third week began of January began in Mangalore. The yellow metal was priced at Rs.3,000 per gram on the 15th of January.
    • Rates surged significantly to trade at Rs.3,024 per gram on the 16th as demand picked up while the dollar continued to struggle.
    • As the week progressed demand seemed to subside, this cause the yellow metal to trade at Rs.3,020 per gram on the 17th of January.
    • With the US dollar mounting a comeback against other currencies, gold rates in Mangalore dropped to Rs.3,004 per gram on the 18th.
    • Thanks to a declining US dollar amid concerns over the government shutting down, gold prices fell to Rs.3,007 per gram on the 19th of the month.
    • Once the US government shut down, gold rate inclined to Rs.3,019 per gram on the 20th of January.
    • Gold continued to trade at Rs.3,019 per gram on the final day of this week.

    January 2018 - Week 4 (22 - 28):

    • When the fourth week of January began in Mangalore, gold was priced at Rs.2,960 per gram
    • Gold rates in Mangalore increased to Rs.2,970 per gram on the 23rd of January, keeping in tune with the trends seen in other major metropolises in the country.
    • As demand from jewellers rose, gold rates went up to Rs.2,977 per gram on the 24th of the month.
    • The 26th recorded a Rs.31 increase in gold rates as local demand matched the trend in the international market, where a weakened dollar paved the way for higher gold sales.
    • However, on the 27th, gold rates dropped to Rs.3,003 per gram as purchases from domestic buyers decreased.
    • With demand remaining mostly flat, gold was last seen trading at Rs.3,003 per gram on the 28th of the month.

    January 2018 - Week 5 (29 - 31):

    • Gold opened at Rs.2,988 per gram when the fifth week of January began. This then continued towards the next day as well as demand was steady.
    • On the final day of the month, gold was seen trading at an increased price of Rs.2,998 per gram.
    • Overall, Mangalore recorded a 1.98% incline in gold prices this month, thanks to a steady rise in demand and a poorly performing US dollar.

    Trend of Gold Rate in Mangalore for December 2017 (rates per gram for 24 karat gold)

    Parameters Gold price (24 karat)
    Gold Rate on 1st December 2017 Rs.2,973 per gram
    Gold Rate on 31st December 2017 Rs.3,000 per gram
    Highest Rate in December Rs.3,000 per gram on 11 December
    Lowest Rate in December Rs.2,891 per gram on 13 December
    Overall Monthly Performance Increasing
    Percentage Change 0.92%

    December 2017 - Week 1 (1st to 10th)

    • When trading commenced in Mangalore, the precious metal was priced at Rs.2,932 per gram on the 1st.
    • Gold rates were greatly influenced by the approval of the landmark tax reform plan in the US which pushed the US dollar higher during the week.
    • On the 2nd, gold price in Mangalore rose to Rs.2,942 per gram as the US dollar lost against a basket of major currencies after the Republican tax bill hit a roadblock in the US Senate.
    • The US tax bill, however, was cleared following a voting session in the Senate. This led to the dollar strengthening and gold rate in Mangalore dropping to Rs.2,906 per gram on the 5th of December.
    • With the dollar gaining significantly amid the firm equities during the week, gold prices dropped further to Rs.2,896 per gram on the 8th.
    • The week concluded with the yellow metal holding firm at Rs.2,896 per gram on the 10th owing to a subdued but steady demand for the metal from local jewellers, industries and retailers.

    December 2017 - Week 2 (11th to 17th)

    • The second week opened with the bullion trading at Rs.2,866 per gram on the 11th with a marginal decline in global demand for the metal.
    • With the release of the new interest rates by the Federal Reserve, world markets began to decline. This lead to the US dollar declining and equities market collapsing worldwide during the week.
    • Gold was priced at Rs.2,883 per gram on the 14th amid the positive trend overseas.
    • The dollar, however, began to recover halfway into the week and the gold price in Mangalore plunged to Rs.2,864 per gram on the 15th.
    • Poor domestic demand coupled with weak global cues led to gold rates in Mangalore remaining unchanged at Rs.2,861 per gram for the remainder of the week.

    December 2017 - Week 3 (18th to 24th)

    • When the third week began gold was trading steady at Rs.2,861 per gram on the 18th with poor demand from the previous week.
    • Though gold rate in Mangalore rose to Rs.2,879 per gram on the 19th, prices plummeted to Rs.2,876 per gram the following day with the US dollar gaining lost ground amid firm equities.
    • On the 21st, gold price in Mangalore rebounded to Rs.2,883 per gram after the dollar lost against a basket of other emerging currencies will investors mulled over the ultimate outcome of the country’s largest tax overhaul in thirty years.
    • Asian markets began to fail as a result of the new US tax cuts during the week. This led to gold prices recovering to Rs.2,898 per gram on the 23rd amid the positive overseas trend.
    • When the week concluded, the precious metal prices were holding steady at Rs.2,898 per gram on the 24th amid the strong global cues that pushed demand higher for the metal.

    December 2017 - Week 4 (25th to 31st)

    • The final week began with the bullion priced at Rs.2,898 per gram on the 25th with steady demand from industries, jewellers and retailers.
    • Thanks to an increase in demand for commodity assets such as gold in the global markets, prices surged to Rs.2,903 per gram on the 26th.
    • The poorly performing US dollar coupled with weakened equities resulted in gold rate in Mangalore rising further to Rs.2,917 per gram on the 27th with strong demand for the precious metal.
    • On the 28th, the bullion rates were recorded at Rs.2,937 per gram after gold prices hit one-month highs in the international market amid the positive trends overseas.
    • Prices continued to rise against the poor performance of the US dollar. Gold was priced at Rs.2,942 per gram on the 30th and continued to remain unchanged until the end of the month.
    • Mangalore registered a profit of 0.30% in gold trade during the course of the month owing to a strong domestic demand amid the positive global trends.

    Trend of Gold Rate in Mangalore 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
    Gold rate on 30th November 2017 Rs.2,947 per gram
    Highest Rate in November Rs.2,981 per gram on 20 November
    Lowest Rate in November Rs.2,907 per gram on 6 November
    Overall Monthly Performance Incline
    Percentage Change 0.16%

    November 2017 - Week 1 (1st - 5th)

    • In Mangalore, 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 price in Mangalore 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 rates in Mangalore 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 Mangalore 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 Mangalore 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.

    November 2017 - Week 3 (13th - 19th)

    • Gold in Mangalore 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 Mangalore 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 in Mangalore remained at Rs.2,951 per gram, a slump despite some strong trend seen worldwide.

    November 2017 - Week 4 (20th - 30th)

    • In Mangalore, 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 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.
    • With demand from key Asian markets remaining subdued, gold rate in Mangalore was unchanged on the 26th and the metal traded at Rs.2,958 per gram.
    • Gold rate in Mangalore dropped down to Rs.2,958 per gram on the 18th due to the Fed chair speech, which turned out to be a bad thing for gold trading.
    • On the final day of November, though, gold rates fell by Rs.13 for the metal to trade at a lowly Rs.2,947 per gram.

    Gold as an investment in Mangalore

    Gold in Mangalore has a store of value and extensively used for making jewellery with intricate designs. There are several reputed jewellers which offer hallmarked jewellery (awarded by the Bureau of Indian Standards, the gold adheres to international standards of purity) offering a wide range of gold articles suited for various occasions.

    Over-the-counter: In most households in Mangalore, gold is handed down from generation to generation. Gold is sold in retail in the form of bullions, coins and jewellery in Mangalore. The precious metal has traditionally been a preferred choice of most consumers to park their surplus income. Gold as a physical asset is, by and large, considered a safer investment compared to equities or bank deposits. While all kinds of jewellery - bangles, waist chains, earrings and so forth are available in Mangalore, most women prefer traditional designs worn during weddings. Apart from several national and international economic factors and geopolitics, transportation costs and local taxes are included in the price of gold sold in retail chains in Mangalore. Gold Palace, Aishwarya Jewellers, Apeksha Jewellers, Benaka Jewellers, Malabar Jewellers and Hanuman Jewellers are some of the prominent jewellery showrooms found in Mangalore.

    Market trade: Several investors prefer buying gold exchange traded funds (ETFs) to physical gold since the former offers higher liquidity and greater ease of storage. However, gold ETFs are currently on a downward slide courtesy falling gold rates in india and across the world. Gold futures in August delivery also hit the lowest intra-day in sex years at 1,134/ounce recently. According to experts, gold rates have further plummeted after 30 tonnes of gold was sold in the Shanghai spot market in the recent past.

    Also Check Gold Price in NearBy Cities of Mangalore

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    Also Know: Silver Rate in Mangalore

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