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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 2017 (rates per gram for 24 karat gold)
|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||Rs.2,995 per gram 16 October|
|Lowest Rate in October||Rs.2,932 per gram on 27 October|
|Overall Monthly Performance||Decline|
October 2017-Week 1 (1st to 8th)
- Gold price in Mangalore marked a seven week low on the first week of October as the US economy strengthened and the treasury became strong.
- The trading in the month of October started at Rs.2,985 per gram and edged to Rs.2,966 per gram on 2 October.
- On 3 October, the precious metal loosed its appeal and traded at Rs.2,956 per gram. Such drastic downturn was also the impact of demonetization and rise in the gold tax.
- The poor trend overseas dropped the spot gold and gold futures rate as well.
- On 4 October & 5 October, gold rate was constant at Rs.2,961 per gram and afterwards the rates declined, owing to the pre-festive demand.
- The first week’s trading ended at Rs.2,952 per gram, without any major fluctuation across the entire week.
October 2017-Week 2 (9th to 15th)
- Bullion traded at Rs.2,976 per gram on the first day of week 2 and gradually jumped to Rs.2,981 per gram, the rise in the price was because of the growing demand from buyers and retailers.
- The gold price in Mangalore remained constant for three consecutive days and raised thereafter as the KYC norms that was mandatory was revived for attract more buyers. This increased the pre-festive sales of the metal.
- North Korea's nuclear ambition further spurred the gold rate to touch Rs.2,987 per gram and the week ended with gold traded at the same price.
October 2017-Week 3 (16th to 22nd)
- Gold traded, the month’s highest, in Mangalore on the first day of week 3 due to the massive demand in the dhanteras season.
- On 18 October, spot gold rate edged to $1,286.11 per ounce, whereas gold futures for December jumped by 0.2%.
- However, due to the soaring geopolitical tension in US and the impacts of Hurricane IRMA and Harvey, forced the gold rate to fluctuate in the third week of October.
- The lack of demand from jewelers as well buyers after the Diwali season dropped the gold’s rate to Rs.2,966 per gram and left alike for three days continuously.
October 2017-Week 4 & Week 5 (23rd to 31st)
- Gold price in Mangalore fell to Rs.2,956 per gram and further plummeted to Rs.2,951 per gram as the demand of gold exchange trade fund declined and equity linked savings scheme raised.
- On 27 October, gold traded the month’s lowest, with yellow metal priced Rs.2,932 per gram.
- At the bullion market, the precious metal loosed its lusture and traded at Rs.2,947 for two days as the demand for global cues raise and US dollar became strong.
- President Donald Trump’s decision to choose a policy hawk resulted in rise in treasury yields that bounced the dollar price, which resultantly dropped the gold prices to Rs.2,942 per gram and remained same on the last day of the month.
Trend of Gold Rate in Mangalore for September 2017 (rates per gram for 24 karat gold)
|Parameters||Gold price (24 karat)|
|Gold rate on 1st September 2017||Rs.2,956 per gram|
|Gold rate on 30th September 017||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-10th)
- Gold trade in Mangalore fluctuated during the week due to unstable demand for the metal from jewellers and retail customers.
- The yellow metal traded at Rs.2,956 per gram on the 1st.
- Prices rose to Rs.2,995 per gram on the 2nd due to increased global demand.
- With steady demand for the metal, prices remained unchanged on the following day as well.
- Global markets crashed due to tensions rising between the US and North Korea. This resulted in the precious metal being priced at Rs.3,015 per gram on the 4th.
- Following North Korea’s confirmation of having their own nuclear weapons, gold prices rose to Rs.3,029 per gram on the 5th.
- Gold rates in Mangalore surged further to Rs.3,034 per gram on the 6th, before dropping to Rs.3,024 per gram on the 7th.
- However, the 8th saw the yellow metal touch the monthly high figure of Rs.3,056 per gram.
- Subdued demand from jewellers and retail customers resulted in gold being priced at Rs.3,041 per gram for the remainder of the week.
September - Week 2 (11th-17th)
- Gold traded at Rs.3,019 per gram on the 11th due to decline in demand from jewellers and retailers.
- Global trade tanked as overseas relations with North Korea worsened. In addition, low domestic demand resulted in gold prices dropping to Rs.3,001 per gram on the 12th.
- Marginal increase in demand led to gold trading at Rs.3,010 per gram on the 13th before dropping to Rs.2,995 per gram on the 14th due to an uncharacteristic decline in domestic purchases.
- The rest of the week witnessed gold trading at Rs.3,005 per gram on the 16th and the 17th.
September 2017 - Week 3 (18th-24th)
- The third week began with the precious metal trading at Rs.3,005 per gram on the 18th, thanks to steady global and local demand.
- Investors suspended purchases awaiting news on the latest US Federal Reserve meetings. This led to the precious metal trading at Rs.2,971 per gram on the 19th.
- Gold prices in Mangalore rose to Rs.2,995 per gram on the 20th, thanks to the festive season closing in.
- Rates dropped to Rs.2,970 per gram on the 21st before rebounding to Rs.2,990 per gram on the 22nd as demand for the metal witnessed a rise, coupled with fluctuations in the US dollar.
- Marginal decline in demand brought gold rates to Rs.2,980 per gram on the 23rd.
- Steady domestic demand for the precious metal resulted in prices remaining unchanged at Rs.2,980 per gram for the rest of the week.
September 2017 - Week 4 (25th-30th)
- The last week began with gold trading on a low note at Rs.2,970 per gram on the 25th.
- Gold rates in Mangalore surged to Rs.3,029 per gram on the 26th with the festive season having arrived.
- However, on the 27th, the strengthening of the dollar resulted in reduced domestic trade and gold traded at Rs.3,005 per gram.
- Delayed purchases from investors and retail customers following the recovery of the US economy led to gold rates staying static at Rs.2,985 per gram for the remainder of the week.
|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)
- Fluctuations in the price of gold were recorded in the first week of August, as the yellow metal opened the week at Rs.2,878 per gram.
- Gold fell to Rs.2,854 per gram on 3 August after the dollar rate was boosted by positive global trends and crude prices.
- Demand for gold rose as the week progressed, with the metal trading at Rs.2,865 per gram on 4 August.
- Gold price in Mangalore fell to Rs.2,855 per gram towards the end of the week, as gold did not attract the interest of investors due to a stable market.
August ‘17- Week 2 (7th to 13th)
- Gold was priced at Rs.2,845 per gram on 7 August as overseas demand was sluggish but steady.
- The price of the metal rose to Rs.2,893 per gram on 10 August as markets took a plunge after less than favourable jobs data, which renewed interest in bullion.
- Gold price in Mangalore rose to Rs.2,922 per gram on 11 August , with the price remaining stable for the remainder of the week.
- Local demand also began to rise as positive international trends led to an increase in demand from local jewellers.
August ‘17- Week 3 (14th to 20th)
- Prices were on the decline in the third week of August in spite of steady demand from local industrial units.
- Gold was priced at Rs.2,915 per gram on 14 August, with the price remaining steady till 17 August due to strong demand from Chinese markets.
- Demand for the yellow metal dipped as the week progressed, as markets vacillated due to conflicting cues.
- Gold traded at Rs.2,910 per gram as the week ended on 20 August due to sluggish demand from overseas and demand patterns.
August ‘17- Week 4 (21st to 27th)
- The dip in demand continued in the fourth week as gold opened at Rs.2,903 per gram on 21 August.
- Gold price in Manglore rose to Rs.2,908 per gram on 22 August only to fall back to Rs.2,903 per gram on 23 August due to unstable dollar rates.
- Tensions between the United States and North Korea also impacted gold prices, as heightened tensions led to an increase in demand for gold.
- Prices began to rise towards the end of the week, with gold priced at Rs.2,927 per gram on 26 & 27 August.
August ‘17- Week 5 (28th to 31st)
- Demand was on the increase in the final week of August as the escalating threat of war with North Korea and instability in the United States led to investors increasingly turning to bullion.
- Gold was priced at Rs.2,927 per gram on 28 August but rose to Rs.2,976 per gram on 29 August following a sharp drop in the dollar rate.
- Demand dropped to Rs.2,966 per gram on 30 August before ending the month at Rs.2,956 per gram on 31 August.
|Parameters||Gold price (24 karat)|
|July 1st Rate||Rs.2,950 per gram|
|July 31st Rate||Rs.2,874 per gram|
|Highest Rate in July||Rs.2,950 per gram on 1 and 2 July|
|Lowest Rate in July||Rs.2,796 per gram on 14 July|
|Overall Monthly Performance||Decline|
July 2017 - Week 1 (1st - 9th)
- Gold prices in Mangalore started for the month of July with the metal trading at Rs.2,950 per gram.
- Due to a sustained demand, prices remained unchanged on the 2nd before dropping to Rs.2,940 per gram on the 3rd as global demand went down.
- Gold rate in Mangalore went down again on the 4th to Rs.2,915 per gram - nearing eight-week lows - as the US dollar surged ahead of other currencies.
- On the 7th, gold prices went down to Rs.2,900 per gram - as the dollar kept strengthening - and went down to Rs.2,880 per gram on the 8th.
- When the week came to an end on the 9th, gold was still trading at Rs.2,880 per gram - a decrease of Rs.70 since the beginning of the month.
July 2017 - Week 2 (10th - 16th)
- The second week of July began with gold further dropping further to Rs.2,875 per gram but went up to Rs.2,870 per gram on the 11th of July.
- But due to a slight increase in demand from local investors, gold prices in Mangalore went up to Rs.2,890 per gram on the 12th and continued to trade at the same rate on the 13th as well.
- The 14th of July saw gold price in Manglore reach a monthly low of Rs.2,796 per gram - due to a marked drop in demand.
- The sudden fall was complemented by an increase in prices as a weakening dollar pushed gold rates up.
- When the week ended, gold was still trading at Rs.2,815 per gram.
July 2017 - Week 3 (17th - 23rd)
- When the third week of July commenced, gold was still trading at Rs.2,815 per gram.
- As gold prices rising in the global market, rates in Mangalore saw a considerable increase as well.
- Gold rate in Mangalore went up to Rs.2,830 per gram on the 18th and remained the same on the 19th of July before increasing slightly to Rs.2,833 per gram on the 20th of the month.
- A weakening dollar led to a price drop internationally, which pushed domestic prices up.
- On the 21st, gold was selling at Rs.2,845 per gram, which then rocketed to Rs.2,866 per gram on the 22nd.
- During the last day of July week 3, gold was still trading at Rs.2,866 per gram.
July 2017 - Week 4 (24th - 31st)
- The final week of July saw gold price in Mangalore fluctuate considerably due to several domestic and global factors.
- On the 24th of July, gold prices were recorded at Rs.2,866 per gram which went up to Rs.2,869 per gram on the 25th of the month.
- The 26th however saw rates dip to Rs.2,850 per gram due to a collectively subdued demand from domestic jewellers.
- Rates went up to Rs.2,874 per gram on the 27th as conflicts involving the US caused some panic buying among the investors.
- During the 28th and the 29th, gold rate in Mangalore remained in the 2,870 range due to sustained buying from investors.
- When the month ended on the 31st, prices had increased slightly to Rs.2,874 per gram.a
- Despite a late flourish, gold prices saw a decline of 2.57% for the month of July.
|Parameters||Gold price (24 karat)|
|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|
|Overall Monthly Performance||Decline|
June ‘17- Week 1 (1st to 4th)
- Gold prices in Mangalore were on the ascent in the first week of June, barring some minor fluctuations.
- The yellow metal was priced at Rs.2,933 per gram on 1 June but fell to Rs.2,915 per gram on 2 June due to a drop in demand.
- Prices rose for the rest of the week, with gold trading at Rs.2,940 per gram on 3 June due to a fall in the dollar value, which led to increased demand from Asian markets.
- The price was unchanged as the week ended, resulting in gold trading at Rs.2,940 per gram on 4 June.
June ‘17- Week 2 (5th to 11th)
- Prices continued to rise in the second week, with gold trading at Rs.2,950 per gram as the week began on 5 June.
- Prices rose to Rs.2,965 per gram on 8 June as stock markets were unstable due to geopolitical tensions and the Trump administration’s proposed overhaul of the U.S. healthcare system.
- A dip in local demand led to prices falling towards the middle of the week, as gold registered a price of Rs.2,930 per gram on 10 June.
- Stagnant demand led to the precious metal closing the week trading at Rs.2,930 per gram on 11 June.
June ‘17- Week 3 (12th to 18th)
- Gold prices in Mangalore fluctuated in the third week as demand from jewellers was muted and overseas trends dictated local demand patterns.
- Gold was priced at Rs,2925 per gram on 12 June, marking a fall in price from the previous week as demand dropped due to a rise in U.S. dollar rates.
- Prices rose to Rs.2,930 per gram on 13 & 14 June but soon fell to Rs.2,915 per gram on 16 June due to inconsistent demand and fewer orders from Asian nations.
- India also reduced imports due to high dollar rates, which led to an overall decline in demand as the price fell to Rs.2,910 per gram on 18 June.
June ‘17- Week 4 (19th to 25th)
- The fourth week began with a further reduction in price as gold traded at Rs.2,905 per gram on 19 June.
- Gold fell to its lowest price for the month, trading at Rs.2,895 per gram on 20 June due to a decline in demand both domestically as well as overseas.
- Prices began to recover as jewellers slowly increased orders, though the rise was marginal.
- Gold was priced at Rs.2,910 per gram on 22 June.
- A minor dip in the dollar rate spurred demand from overseas industry, which led to gold prices rising to Rs.2,920 per gram on 24 June.
- Domestic retail demand rose in the run-up to the implementation of GST, which kept prices constant as gold ended the week trading at Rs.2,920 per gram on 25 June.
June ‘17- Week 5 (26th to 30th)
- There were marked fluctuations in the price of gold in the last week as local demand spiked before the imposition of the new indirect tax structure.
- Gold was priced at Rs.2,918 peer gram on 26 June due to a minor dip in overseas demand.
- Prices fell in Mangalore to Rs.2,900 per gram on 27 June due to a rally by the U.S. dollar, which reduced demand for the metal in most markets.
- Prices jumped to Rs.2,960 per gram on 28 June as local demand increased due to sinking markets in India, though prices soon swung to Rs.2,920 per gram on 29 June.
- The month ended with gold priced at Rs.2,920 per gram on 30 June, recording a loss of 0.44% in value over the course of the month.
|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.2,840 per gram from 11th-14th May|
May 2017 - Week 1 (1st - 7th):
- When trading began in Mangalore for the month of May, gold prices were on a relative low - a clear reflection of the trend seen nationwide.
- On the 1st of May, gold was priced at Rs.2,945 per gram - which consequently happened to be the highest gold rate for the month.
- The 2nd saw prices drop significantly by Rs.40 to Rs.2,905 per gram as demand for the metal fell after it was reported that US dollar was exchanging at a much higher rate.
- Despite the European markets remaining volatile, owing to French Presidential Elections, gold prices didn’t receive the traction as analysts expected.
- Instead, gold prices dropped a further Rs.30 per gram to go down to Rs.2,975 per gram on the 4th.
- Though gold rates remained unchanged on the 5th, another drop in local demand brought prices further down to Rs.2,950 per gram on the 6th.
- A sustained demand on the 7th stopped gold rates from falling further, thereby ending the week at Rs.2,950 per gram.
May 2017 - Week 2 (8th - 14th):
- The second week of May continued the same price trend, which was seen during the first week.
- Prices fell for the second week in a row, thereby making May one of the worst performing months of 2017.
- On the 8th, gold was priced at Rs.2,950 per gram but as demand went up slightly, prices reached Rs.2,955 per gram.
- However, due to a lack of demand in domestic circles and a strengthening dollar in the international market, gold prices went back down to Rs.2,950 per gram on the 10th.
- Prices fell again on the 11th - this time by Rs.10 - to hit Rs.2,940 per gram.
- For the next three days - till the end of the week- gold prices remained unchanged as they were still holding at Rs.2,940 per gram.
May 2017 - Week 3 (15th - 21st):
- The third week of May seemed to ride the sine wave in Mangalore as gold prices saw some positive and negative trends.
- On the 15th, when the week began, gold was priced at Rs.2,845 per gram - a Rs.5 increase from the previous day’s closing price.
- Rates didn’t change on the 16th and 17th due to there being no demand but took a significant leap on the 18th.
- Prices went from Rs.2,845 per gram to Rs.2,905 per gram - a whopping Rs.60 per gram increase - which was monumental in boosting a rather sluggish performance.
- This was the period when the US stocks nosedived, which spurred investors to resort to the safe haven.
- After that rapid rise in prices, bullion trade consolidated with the metal selling at Rs.2,900 per gram on the 19th.
- The 20th saw prices go up again to Rs.2,908 per gram as US stocks were still on their path to recovery.
- When the week came to an end, gold prices were still holding at Rs.2,908 - a positive sign after a terribly slow two weeks.
May 2017 - Week 4 (22nd - 28th):
- During the fourth week, gold prices seemed to go up and down before going down again as US dollar made a comeback.
- On the 22nd, gold was trading at Rs.2,905 per gram but as demand was still high, prices went up to Rs.2,930 per gram on the 23rd.
- As US dollar gained, investors backed out, which in turn pushed gold prices down to Rs.2,915 per gram.
- For the next couple days, till the 26th, gold prices remained stable at Rs.2,915 per gram despite a as US dollar gains hit its peak.
- On the 27th, as uncertainty grew, gold prices hit Rs.2,930 per gram and went on at the same rate on the 28th as well.
May 2017 - Week 5 (29th - 31st):
- The last three days of May in Mangalore saw some fluctuations too with the week beginning at Rs.2,930 per gram.
- As news of US Labour Department survey hit the market, gold prices went up to Rs.2,938 per gram on the 30th.
- Even though dollar value sunk, gold prices remained stagnant and even went down on the last day of the month.
- Gold rates fell by Rs.20 and ended May’s trading at Rs.2,918 per gram.
|April 1st Rate||Rs.2,910 per gram|
|April 30th Rate||Rs.2,945 per gram|
|Highest Rate in April||Rs.2,990 per gram from 14th April to 16th April and 22nd and 23rd April|
|Lowest Rate in April||Rs.2,905 per gram on 10th April|
April ‘17 - Week 1 (1st to 9th)
- The rate of gold on the 1st of April in Mangalore was Rs.2,910 per gram. The low rate of gold could be attributed to the U.S. Federal Reserve’s dovish tone regarding interest rate along with slow U.S. market data.
- The above rate was noted until the 3rd of the month.
- The price of gold rose on the 4th of April by Rs.20 to trade at Rs.2,930 per gram as a result of higher demand from jewellers in domestic markets. As the demand for this metal increased, the price of gold increased by Rs.5 to trade at Rs.2,935 per gram on the 5th of April.
- However, this demand could not be sustained and gold rate reduced to trade at Rs.2,925 per gram on the 6th and 7th of April.
- As the week progressed, the price of gold continued to reduce with this yellow metal trading at Rs.2,915 per gram on the 8th and 9th of April.
April ‘17 - Week 2 (10th to 16th)
- Due to fluctuations in the demand for this precious metal, there were a few changes noted in the rate of gold during the 2nd week of April.
- Gold traded at a monthly low of Rs.2,905 per gram on the 10th of April thanks to a greater dollar value. However, the rate of this precious metal gradually increased as the week progressed due to various geopolitical issues which enhanced the safe-haven demand for the metal.
- The rate of gold was Rs.2,960 per gram on the 12th of April and increased the next day by Rs.5 to trade at Rs.2,965 per gram.
- As the week progressed, the price of gold continued to increase with this metal trading at Rs.2,990 per gram on the 15th and 16th of April which was also the highest at which this metal traded at for the month.
April ’17- Week 3 (17th to 23rd)
- Gold was priced at Rs.2,985 per gram on the 17th of April which was lower than the wek seen during the previous week.
- As the week progressed, variations were seen in the price of gold.
- The rate of gold declined again on the 18th before increasing on the 19th to trade at Rs.2,985 per gram.
- Due to an increase in the value of the rupee on the 20th, potential gold buyers were presented with a favourable to buy this metal.
- The price of gold on the 22nd and 23rd of April was a repeat of that seen on the 15th and 16th of April due to high demand for this metal.
April ’17- Weeks 4 (24th to 30th)
- On the 24th of April in Mangalore, gold was priced at Rs.2,965 per gram and then fell by Rs.15 the next day to trade at Rs.2,950 per gram. However, as the demand for this metal decreased, the rate of gold fell as well.
- Gold rate reduced to Rs.2,920 per gram on the 26th of the month prior to marginally increasing to Rs.2,925 per gram on the 27th of April.
- Gold traded at Rs.2,930 per gram on the 27th as the centrist candidate, Emmanuel Macron, won the first round of the French Presidential election.
- On the last two days of the month of April in Mangalore, gold traded at Rs.2,945 per gram, recording an incline of 1.20% in the rate.
|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 of March|
|Lowest Rate in March||Rs.2,855 per gram on 15th of March|
March ‘17 - Week 1 (1st to 5th)
- Trends in both national and international markets were an indication of a rise in gold prices due to high demand for this precious metal.
- However, this demand was sustained only during the beginning of the month and started declining as the month progressed, with a few fluctuations.
- Gold opened at Rs.3,005 per gram on the 1st of March but declined the next day to trade at Rs.2,990 per gram.
- As the week progressed, the rate of gold continued to decline.
- On the last two days of the month, the rate of gold was steady at Rs.2,970 per gram due to low but stable demand from jewellers.
March ‘17 - Week 2 (6th to 12th)
- Gold traded at Rs.2,962 per gram on the 6th of March which was lower than that of the rates seen during the previous week.
- Gold rate in Mangalore was sustained until the next day.
- As demand for gold plunged, the rate of this precious metal fell as well to trade at Rs.2,930 per gram and continued to decline further the next day as well to trade at Rs.2,910 per gram on the 9th of March.
- The price of gold in Mangalore continued to decline as the value of the U.S. Dollar started to rise. Gold was priced at Rs.2,900 per gram from the 10th of March until the end of the week.
March ’17- Week 3 (13th to 19th)
- Gold continued to trade at Rs.2,900 per gram on the first day of the third week of March before falling by Rs.20 the next day.
- Due to a slight increase in the demand for gold, the rate of this precious metal fluctuated slightly. The lowest rate of gold was noted on the 15th of March wherein the price of this precious metal was Rs.2,855 per gram.
- Gold traded at Rs.2,890 per gram on the 17th of March.
- This price of gold in Mangalore was sustained until the end of the third week.
March ’17- Weeks 4 (20th to 26th)
- Due to positive cues from both domestic as well as international markets, the rate of gold increased to Rs.2,900 per gram on the 20th of March.
- Gold price in Mangalore declined slightly on the 21st to trade at Rs.2,885 per gram before rising again to trade at Rs.2,920 per gram on the 22nd of March.
- A steady demand for this metal ensured that the price of gold remained unchanged until the end of the week.
March ’17- Weeks 5 (27th to 31st)
- On the 27th of March, the rate of gold in Mangalore continued to be Rs.2,920 per gram before noting a slight increase of Rs.5 the next day.
- On the 29th of March, gold continued to trade at Rs.2,925 per gram before falling by Rs.10 the next day to trade at Rs.2,915 per gram.
- On the last day of the month, gold traded at Rs.2,900 per gram which was the lowest rate of gold noted during that week.
- At the end of the month, a decline of 3.49% was noted in the rate of gold.
|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 from 1st-5th February|
February ‘17 - Week 1 (1st to 5th)
- The price of gold in Mangalore was stable for the frost week as demand was muted.
- Gold traded at Rs.2,945 per gram on 1st February, with the price remaining unchanged till 5th February.
- Local demand was low, which kept prices stable in spite of increasing demand overseas.
- Industrial demand fluctuated, which led to prices rising as the week ended.
- Gold traded at Rs.2,945 per gram on 5th February, with no change in price recorded for the week.
February ‘17 - Week 2 (6th to 12th)
- The second week saw the price of gold rise marginally, though demand was still muted due to poor local demand.
- Gold was priced at Rs.2,955 per gram on 6th February, with the price rising by Rs.25 per gram to trade at Rs.2,980 per gram on 7th February.
- Higher industrial demand coupled with fluctuating overseas markets led to an increase in demand for gold.
- Gold prices rose further, trading at Rs.2,985 per gram on 9th February but fell sharply to trade at Rs.2,940 per gram on 10th February.
- The price rose again as the week ended, with gold trading at Rs.2,970 per gram on 11th February.
- Gold ended the week trading at Rs.2,970 per gram on 12th February, recording an increase of Rs.15 per gram.
February ’17- Week 3 (13th to 19th)
- Prices in the third week of February fluctuated due to market forces, as the U.S. Dollar rate was unstable.
- Gold traded at Rs.2,960 per gram on 13th February, with the price falling to Rs.2,955 per gram on 14th February.
- Prices rose again as industrial demand stabilised, trading at Rs.2,970 per gram on 16th February.
- Gold rose to Rs.2,980 per gram on 17th February as markets fell, which increased demand for bullion.
- Gold prices were steady for the rest of the week, trading at Rs.2,980 per gram on 19th February and recording a weekly increase in price of Rs.20 per gram.
February ’17- Weeks 4 & 5 (20th to 28th)
- Prices in the last two weeks of February saw prices rise due to increased demand, with gold trading at Rs.2,970 per gram on 20th February.
- Prices remained constant for the next few days before rising to Rs.2,975 per gram on 23rd February.
- Prices rose to Rs.2,995 per gram on 24th February as markets dropped due to renewed fears of a travel ban in the United States affected stock prices.
- Gold prices were stable for the next few days, as local demand also rose on positive trends from both the domestic as well as the overseas markets.
- Prices continued to rise as the month ended, with gold reaching its monthly high of Rs.2,005 per gram on 27th February.
- Prices remained unchanged at the close of the month, trading at Rs.3,005 per gram on 28th February and recording an overall increase of 2.03%.
|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 - 7th):
- The year 2017 began with a bang for gold prices as they seemed to show positive growth for much of the month.
- First week of January began with gold trading at Rs.2,820 per gram, a rate that continued till the end of 2nd.
- On 3rd, prices increased by Rs.5 to hit Rs.2,825 per gram and then increased to reach Rs.2,840 per gram on 4th.
- Prices increased to Rs.2,860 per gram on 5th and continued at the same price on 6th as well.
- Gold rates again increased at the end of the week to finish at Rs.2,870 per gram.
January 2017 - Week 2 (8th - 14th):
- When week 2 began on 8th, gold prices were still holding at Rs.2,870 per gram and increased to Rs.2,890 on 10th as global demand increased.
- Prices went up further on 11th to end the day’s trading price at Rs.2,910 per gram.
- Rates for the yellow metal remained the same for the last three days of week 2 at Rs.2,920 per gram as no surge in demand was witnessed.
January 2017 - Week 3 (15th -21st):
- The third week of January continued on the positive trend set about by the previous two weeks.
- On 15th, gold was trading at Rs.2,920 per gram which later increased by Rs.25 per gram to hit Rs.2,945 per gram on 16th.
- The 17th and 18th saw gold rates increase by Rs.10 per gram as demand for the metal seemed to increase gradually.
- On 19th, gold rates went down by Rs.15 to hit Rs.2,950 per gram as demands went down suddenly owing to a strengthening dollar.
- By the time week 3 ended, gold prices had gained back to end the business day of 21st on Rs.2,960 per gram.
January 2017 - Week 4 and 5 (22nd - 31st):
- The 4th week of January was the worst period for gold as prices took a significant hit.
- On 22nd, when the week began, gold was trading at Rs.2,960 per gram and later increased to Rs.2,970 per gram.
- However, on 25th, prices took a hit to go down to Rs.2,950 per gram, and then went down again to Rs.2,915 per gram on 27th.
- The last 4 days of week 4 and 5 saw prices increase gradually to end the month at Rs.2,930 per gram.
- Overall, gold prices in Mangalore saw prices increase by 3.90%
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 Rate in Karnataka
Also Check Gold Price in NearBy Cities of Mangalore
|Gold Rate In Mysore||Gold Rate In Belgaum||Gold Rate In Bellary|
|Gold Rate In Shimoga||Gold Rate In Udupi||Gold Rate In Gulbarga|
|Gold Rate In Bangalore||Gold Rate In Kozhikode||Gold Rate In Kannur|
|Also Know: Silver Rate in Mangalore|
Read more on Gold
- Auspicious Days To Buy Gold In 2017
- Buying Gold This Akshaya Tritiya
- Gold and Indian Weddings
- How Do Fluctuations In The Gold Rate Affect The Indian Economy?
- Significance of Gold in Indian Culture
- Significance of Indian Jewellery