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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 August 2016 (rates per gram for 24k Gold)
|First Day||Rs.3,190 per gram|
|Last Day||Rs.3,140 per gram|
|Highest Price||Rs.3,205 per gram on 18th August|
|Lowest Price||Rs.3,160 per gram on 9th August|
August '16 - Weeks 1 (1st to 7th)
- Gold traded at Rs.3,190 per gram at the beginning of the week and started climbing.
- Prices were on an inclined path as the dollar grew weak.
- The surge in gold rates can be attributed to the economic data released by the U.S. which showed a much slower growth rate than expected.
- Prices stabilized by the end of the week with gold trading at Rs.3,196 per gram.
August '16 - Week 2 (8th to 14th)
- Gold prices were at Rs.3,165 per gram on 8th August.
- There was a slight dip in prices but gold recovered well on account of increased demand in the domestic market.
- With trends in the global market playing favor of the yellow metal, gold prices climbed and settled at Rs.3,175 per gram at the end of the week.
August '16 - Week 3 (15th to 21st)
- In the global market, prices started dropping as the U.S. economy grew stronger.
- But despite a strong dollar, prices in Mangalore continued to climb.
- Domestic demand from jewellers and coin makers poured in as they prepare to meet the festival demand.
- On 18th August, gold traded at Rs.3,205 per gram, the highest rate for the month of August.
August '16 - Week 4 (22nd to 28th)
- The pressure of global trends started to take its toll at the start of the week and gold dipped to Rs. 3,180 per gram on 22nd August.
- Gold continued to decline as the dollar gained strength.
- Prices are expected to fall further as the anticipation of an interest rate hike by the U.S. Federal Reserve grew stronger.
August '16 - Week 5 (29th to 31st)
- Gold prices started declining on account of the expectations of a U.S. Federal Reserve hike.
- Gold hit the lowest rate for the month on 31st August when it traded at Rs.3,140 per gram.
- The trend for the month was an inclination at the beginning, but rates declined leading to a drop of 1.57% in prices.
|1st July rate||Rs.3,130|
|31st July rate||Rs.3,170|
|Highest rate in July||Rs.3,205 on 7th|
|Lowest rate in July||Rs.3,120 on 21st|
|% Change||+ 1.28%|
July'16 - Week 1 (1st to 3rd)
- The month of July opened strong for gold with rates at Rs.3,130 per gram.
- Gold prices climbed to Rs.3,150 per gram on 2nd July and remained unchanged on 3rd as well.
- The Brexit vote affected the global markets leaving gold in an uncertain position.
July'16 - Week 2 (4th to 10th)
- The gold rate was Rs.3,180 per gram on 4th July.
- Gold saw higher prices in Week 2 of July as investors flocked to gold for its safe haven appeal.
- Expectations of the central banks providing monetary stimulus grew and prices rose to its highest on July 7th with gold trading at Rs.3,205 gram.
- As the U.S. economic data indicated strong growth, gold slipped again and traded at Rs.3,170 by the end week.
July'16 - Week 3 (11th to 17th)
- Gold traded at Rs.3,170 per gram on 11th July.
- There were fluctuations through the week as rates fell and rose owing to the uncertainty in the global market.
- Rates recovered towards the end when gold prices rose to Rs.3,170 on 16th July.
July '16 - Week 4 (18th to 24th)
- Gold traded at Rs.3,165 on 18th July.
- Gold rates dropped as the dollar recovered some of its previous losses.
- Domestic demand helped gold regain its strength and the week ended at Rs.3,150 per gram.
July ‘16 - Week 5 (25th to 31st)
- Gold traded at Rs.3,150 on 25th July.
- There were fluctuations in the rates throughout the week with the lowest of the week recorded on 27th July when gold traded at Rs.3,140 per gram.
- Prices declined as the U.S. released strong economic data which gave the dollar a boost.
- Gold prices were stagnant towards the end of the week. The week ended at its highest at Rs.3,170 per gram.
|1st June rate||Rs.2,915|
|30th June rate||Rs.3,130|
|Highest rate in June||Rs.3,200 per gram on 24th June|
|Lowest rate in June||Rs.2,915 per gram on 1st June|
Jun'16 - Week 1 (1st to 4th)
- Gold opened at Rs.2,915 per gram which was also the lowest price for the month of June.
- There was a minor increase in price on the 2nd wherein gold was priced at Rs.2,920 and this rate was maintained until the 3rd.
- Prices increased even further on the 4th to touch Rs.2,960 which was the highest rate for the month.
- Although the changes were minor, an increase was seen in the price of gold as the week progressed.
Jun'16 - Week 2 (5th to 11th)
- The rate of gold was quite steady during the first half of the second week with very minor fluctuations.
- The rate of gold hovered between Rs.2,960 to Rs.2,965 until the 7th.
- There was a minor increase noted in the price of gold on the 8th wherein the price of gold was Rs.2,957 per gram.
- The rate of gold was Rs.2,995 on the 9th after which gold rates touched Rs.3,000 mark.
- On the last day of the week, gold was priced at Rs.3,035 per gram.
Jun'16 - Week 3 (12th to 18th)
- Continuing from the last week, the rate of gold was Rs.3,035 per gram on the first day of the week and this was maintained until the 13th.
- There was a slight increase in the price of gold on the 14th wherein the price of gold was Rs.3,050 per gram.
- The following days saw even more of an increase in prices with the price of gold touching Rs.3,100 on the 16th and increased even further from there.
- Gold closed at Rs.3,085 per gram on the 18th which was a minor decrease as compared to the previous two days.
Jun'16 - Week 4 (19th to 25th)
- Gold opened at Rs.3,085 per gram on the 19th, which was the same as the last day of the previous week.
- Rate slightly increased on the 20th and steadied at Rs.3,085 per gram on the 21st and 22nd of the month.
- The price of gold decreased slightly on the 23rd before reaching the highest price for the month which was Rs.3,200 per gram on the 24th of June.
- Gold closed at Rs.3,150 per gram on the 25th which was a slight decrease from the previous day.
Jun'16 - Week 5 (26th to 30th)
- The price of gold in the final week of the month was still relatively high as compared to the other weeks.
- Gold opened at Rs.3,150 per gram and increased by Rs.25 the next day.
- On the final day of the month, gold was priced at Rs.3,130 per gram.
|1st May rate||Rs.3,070|
|31st May rate||Rs.2,895|
|Highest rate in May||Rs.3,080 on the 7th and 8th of May|
|Lowest rate in May||Rs.2,895 on the 30th and 31st of May|
|Overall performance||Loss / Negative|
May'16 - Week 1 (1st to 7th)
- Gold rates remained constant at Rs.3,070 for the first three days of the week after which they decline by Rs.18 on the fourth day of trading.
- Prices increased by Rs.3 to Rs.3,055 on the 5th and then declined by Rs.10 to Rs.3,045 on the 6th of the month.
- The last day of the week saw gold rates rise by Rs.35 to Rs.3,080.
- In comparison with the first day of the week, prices increased by Rs.10 during the first seven days of May 2016.
May ‘16 - Week 2 (8th to 14th)
- Gold rates remained unchanged on the first day of the second week and prices were recorded at Rs.3,080 on the 8th of May.
- A decline by Rs.20 on the second day of the week saw prices fall to Rs.3,060 and they remained unchanged for another day.
- Prices fell by Rs.25 on the fourth day of the week and stood at Rs.3,035 after which a further decline of Rs.10 saw prices touch Rs.3,025 on the 12th of May.
- Subsequent increases of Rs.10 each on the following two days saw gold close the week at Rs.3,045 per gram.
- The overall decline in rates from the start of the week to the end of the week was Rs.35.
May ‘16 - Week 3 (15th to 21st)
- An increase of Rs.8 was recorded on the first day of the third week of May and prices remained stable at Rs.3,053 on the 15th and 16th of May.
- Prices then fell by Rs.15 to Rs.3,038 on the 17th after which an increase of Rs.7 on the 18th saw prices rise to Rs.3,045.
- Rates fell by Rs.25 on the 19th and settled at Rs.3,020, followed by a decline of Rs.5 which saw prices remain stable at Rs.3,015 for the last two days of the week.
- Gold prices declined further at the end of the week in comparison with the first day of the week, albeit by just Rs.30.
May ‘16 - Week 4 (22nd to 31st)
- Gold prices were recorded at Rs.3,015 on the 22nd of May and consistent declines over the next few days saw prices drop to Rs.2,925 on the 27th.
- Prices remained stable at Rs.2,925 between the 27th and 29th of the month, after which a further decline of Rs.30 saw prices reach their lowest level during the month and settle at Rs.2,895 on the last two days of May.
- The overall decline in prices between the first and last day of the month was Rs.175.
|1st April rate||Rs 2,905|
|30th April rate||Rs 3,070|
|Highest rate in April||Rs 3,070 on 30th|
|Lowest rate in April||Rs 2,880 on 4th|
|% Change||+ 5.68%|
Apr ‘16 - Week 1 (1st to 3rd)
- International market trends resulted in a drop in gold demand, impacting rates marginally.
- Gold traded at Rs 2,905 on 1st and 2nd, before dropping below Rs 2,900.
- Rates fell to Rs 2,885 on 3rd, ending the week on a low.
Apr ‘16 - Week 2 (4th to 10th)
- An overall increase in gold rates was witnessed during the week.
- Gold traded at Rs 2,880 on 4th, down Rs 5 compared to the previous day.
- Prices picked up over the next few days, reaching Rs 2,920 on 6th, before dropping to Rs 2,910 on 7th.
- The next three days saw a strong performance by gold, with gold trading at Rs 2,940 to end the week.
Apr ‘16 - Week 3 (11th to 17th)
- Gold rates witnessed a number of changes, as global markets resulted in daily fluctuations.
- Gold traded at Rs 2,945 on 11th and Rs 2,955 on 12th, dropping to Rs 2,925 on 14th.
- Prices stayed at Rs 2,925 till 16th, before jumping to Rs 2,950 to close the week on a marginal gain.
Apr ‘16 - Week 4 (18th to 24th)
- This was a mixed week for gold, as prices fluctuated as per market trends.
- Gold traded at Rs 2,955 on 18th, dropping to Rs 2,945 on 19th.
- Poor market performance resulted in a strong performance by gold, as prices went up to Rs 2,980 on 22nd.
- Rates fell over the next two days, closing the week at Rs 2,975.
Apr ‘16 - Week 5 (25th to 30th)
- The week began on a slow note, as rates fell to Rs 2,960.
- This drop was mitigated by a strong performance through the rest of the week, as prices increased steadily.
- Gold rates crossed the Rs 3,000 mark on 29th, ending the month on a high of Rs 3,070.
|1st March rate||Rs 2,975|
|31st March rate||Rs 2,900|
|Highest rate in March||Rs 2,975 on 1st, 3rd, 4th, 5th and 6th|
|Lowest rate in March||Rs 2,870 on 28th|
Mar'16 - Week 1 (1st to 6th)
- Gold rates in Mangalore were Rs 2,975 at the start of the month.
- Jewellers across the city joined protests against the decision to increase excise duty on gold.
- Protests led to gold trade being impacted, with rates staying steady at Rs 2,975, apart from a drop to Rs 2,973 on 2nd.
- There were no further rate ranges in the week.
Mar'16 - Week 2 (7th to 13th)
- Gold price fell from Rs 2,975 to Rs 2,968 on 7th.
- As protests continued, rates remained static till 10th.
- Gold prices moved up to Rs 2,973 before falling to Rs 2,926 on 13th.
Mar'16 - Week 3 (14th to 20th)
- A few jewellers opened their stores, getting back to business.
- Gold rates saw an overall decline in the week.
- Prices fell from Rs 2,926 on 13th to Rs 2,894 on 16th before clawing back to Rs 2,908 on the 20th.
Mar'16 - Week 4 (21st to 27th)
- The protests came to an end as jewellers across the city returned to business.
- Trading was active during the week, with the price changing daily.
- Prices jumped to Rs 2,935 on 21st, before gradually declining during the week.
- Gold rates ranged between Rs 2,920 and Rs 2,910 between 23rd and 27th.
Mar'16 - Week 5 (28th to 31st)
- Markets were open for trade and prices changed daily during this week.
- Rates dropped by Rs 40 to Rs 2,870 on 28th.
- An overall increase in rates was witnessed over the week.
- Prices increased to Rs 2,882 and ended at Rs 2,900 on 31st.
|1st February rate||Rs.2,718|
|29th February rate||Rs.2,960|
|Highest rate in February||Rs.2,975 on 12th and 26th|
|Lowest rate in February||Rs.2,718 on 1st|
Feb '16 - Week 1 (1st to 7th)
- Gold rates rose during the 1st week of February.
- Prices were Rs.2,710 on 1st and Rs.2,815 on 7th.
- Gold was up every day of the week, rising on the back of increased domestic demand and strong global cues.
Feb '16 - Week 2 (8th to 14th)
- Gold rates rose again in the 2nd week.
- Rates were Rs.2,805 on 8th and Rs.2,965 on 14th.
- Gold appreciated to Rs.2,975 by 12th before dropping slightly and settling at Rs.2,965 by 14th.
Feb '16 - Week 3 (15th to 21st)
- Gold continued appreciating in the 3rd week also.
- Rates were Rs.2,920 on 15th and Rs.2,960 on 21st.
- Gold dropped to Rs.2,875 on 16th before rising for the rest of the week to touch Rs.2,960 by 21st.
Feb '16 - Week 4 (22nd to 29th)
- Gold prices appreciated in the last days of February.
- Prices were Rs.2,925 on 22nd and Rs.2,960 on 29th.
- Gold touched a high of Rs.2,975 on 26th before sliding marginally and settling at Rs.2,960 by 29th.
|4 th January rate||Rs.2,545|
|31 st January rate||Rs.2,710|
|Highest rate in January||Rs.2,725 on 29th|
|Lowest rate in January||Rs.2,545 on 4th|
- Gold rates appreciated during the 1st week of January.
- Prices were Rs.2,545 on 4th and Rs.2,633 on 10th.
- Gold prices appreciated continuously through the week as global cues and domestic demand were strong.
- Gold rates declined in the 2nd week.
- Rates were Rs.2,638 on 11th and Rs.2,605 on 17th.
- Gold appreciated to Rs.2,642 on 12th before dropping to Rs.2,605 by 14th.
- Prices were constant at Rs.2,605 for the remaining days of the week.
- Gold gained value during trading in the 3rd week.
- Rates were Rs.2,657 on 18th and Rs.2,660 on 24th.
- Gold rose to Rs.2,670 by 22nd before settling at a slightly lower Rs.2,660 by 24th.
- Gold gained Rs.40 on the whole in the 4th week.
- Prices were Rs.2,670 on 25th and Rs.2,710 on 31st.
- Gold rose on consecutive days till 29th to touch Rs.2,725 before sliding to Rs.2,710 by 31st.
|1st December rate||Rs.2,575|
|31st December rate||Rs.2,564|
|Highest rate in December||Rs.2,603 on 14th|
|Lowest rate in December||Rs.2,530 on 3rd|
- Gold rates appreciated in the 1st week of December.
- Prices were Rs.2,575 on 1st and Rs.2,597 on 7th.
- Rates fell on 2nd and 3rd to Rs.2,530 before gaining steam over the next three days to rest at Rs.2,600 by 6th.
- Gold declined marginally on 7th to settle at Rs.2,597.
- Gold rates appreciated marginally in the 2nd week.
- Rates were Rs.2,595 on 8th and Rs.2,603 on 14th.
- Gold dropped to Rs.2,574 on 9th and fluctuated till Rs.2,603 till the end of the week.
- Gold rates were lower during the 3rd week.
- Rates were Rs.2,580 on 15th and Rs.2,561 on 21st.
- Gold went on a downward spiral throughout the week, bottoming out on 19th and 20th at Rs.2,545.
- Prices were higher by Rs.16 on 21st to end the week at Rs.2,561.
- Gold was stable on the whole in the last few days of December.
- It was priced at Rs.2,569 on 22nd and Rs.2,564 on 31st.
- Prices stayed between Rs.2,560 and Rs.2,569 throughout the week.
|1st November rate||Rs.2,681|
|Highest rate in November||Rs.2,724 on 2nd|
|Lowest rate in November||Rs.2,566 on 19th and 30th|
- Gold rates declined substantially in the first week of November.
- Prices were Rs.2,581 on 1st and Rs.2,600 on 7th.
- There was appreciation in rates when gold touched Rs.2,724 on 2nd and stayed at Rs.2,722 on 3rd.
- Prices started dropping from 4th onwards, eventually settling at Rs.2,600 for the week on 7th.
- Gold rates declined again in the 2nd week.
- Rates were Rs.2,600 on 8th and Rs.2,580 on 14th.
- Gold stayed comfortably above Rs.2,600 throughout the week, except for Rs.2,580 on the last day.
- Gold also appreciated to Rs.2,660 on 12th, breaching the 2,650 mark.
- Gold rates were stable on the whole during the 3rd week.
- Rates were Rs.2,580 on 15th and Rs.2,575 on 21st.
- Gold rallied to Rs.2,646 on 16th before reducing back to Rs.2,581 on 18th.
- Prices stabilized at around Rs.2,575 for the rest of the week.
- Gold lost value in the last few days of November.
- It was priced at Rs.2,575 on 22nd and Rs.2,566 on 30th.
- Gold remained stable for the whole of 4th week and also on 29th in the range of Rs.2,575 to Rs.2,585.
- There was a drop of Rs.19 on the last day of the month when prices dropped to Rs.2,566.
Details of Gold Price in Mangalore (22 Karat & 24 Karat) - Till July 2015
22 karat gold (millesimal fineness 916): Gold prices in Mangalore have been on the decline since January. One gram of 22-karat gold in Mangalore is currently priced at Rs. 2,307, compared to Rs. 2,606 in January this year, a decrease of -11.4% over a period of six months. While the price of one gram of the yellow metal stood at Rs. 2,602 in February, the prices fell to Rs. 2,471 in March, a decrease of -5.03% in a month. While the prices showed minor fluctuations throughout the month of April, the prices marginally rose to Rs. 2513 toward the end of April and Rs. 2566 in the middle of May. However, the price of gold fell by -2.2% to Rs. 2507 in the month of June. The prices further plummeted by -1.7% to Rs. 2463 in July this year.
24 karat gold (millesimal fineness 999): One gram of 24-karat gold is currently pegged at Rs. 2,512. The price of 24-carat gold is usually 8% more than that of 22-carat gold. One gram was pegged at Rs. 2,610 in July, a decrease of -3.7%. Prices of 24-karat gold have been on the downward slope since January this year (one gram of 24 karat gold was pegged at Rs. 2,837 in January). In February, the price of gold fell by -2.6% to Rs. 2,762 in February. The month of March witnessed a further decline in prices by -4.16% to Rs. Rs. 2,647 in March. The price of the yellow metal rose in the middle to April and May at Rs. 2,714 and Rs. 2,792 respectively. The price of gold fell by -2.5% to Rs. 2,722 in June followed by a further dip in the month of July by -4.11% to Rs. 2610.
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
- Buying Gold This Akshaya Tritiya
- Gold and Indian Weddings
- Auspicious Days to Buy Gold in 2016
- How Do Fluctuations In The Gold Rate Affect The Indian Economy?
- Significance of Gold in Indian Culture
- Significance of Indian Jewellery