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Gold Price in Mysore
Gold rates in Mysore reflect the overall demand for the yellow metal across India, which in all probability, will remain the world's biggest consumer of gold this year, racing past China. Consumer demand in India increased by 15% to 192 tonnes this year affecting gold rates in Mysore and across the country. South India has traditionally been the largest consumer of gold in the country with several major jewelry chains spread across the region for expansion and consolidation. According to market experts, all the southern states including Karnataka account for over 40% of India’s demand for the yellow metal. Mysore has a rich history and culture with widespread use of gold, most famously, the Golden Throne, the royal seat of the rulers of the erstwhile Kingdom of Mysore. Like the rest of India, Gold in Mysore is available in varying weights such as grams and carat. Gold rates in Mysore differ depending on whether it is 24 carat gold or 22 carat.
Gold as an Investment in Mysore
Jewelry: Jewelry in Mysore forms the major component of the overall demand for gold in the city owing to the tradition of buying the yellow metal during festive occasions in addition to it being considered a relatively safe investment. The World Gold Council pegged the current jewelry demand in India at 151 tonnes, a rise of about 22% compared to the same period, last year. Demand for jewelry and investment stood at 842.7 tonnes last year.
Coins: According to the latest report of the World Gold Council, demand for gold bars and coins across the country fell 10% compared to last year as investors diverted their funds into equities owing to robust stock market performance. Experts maintain gold coins should ideally be bought from a well-known jeweler since there is no risk of impurity. While banks sell gold, they don’t buy back coins.
Gold ETFs: One unit of ETF is equivalent to 1 gram of gold. Exchange Traded Funds (ETF) have gradually been gaining prominence across the country due to several factors such as high liquidity, ease of investing (ETFs are traded on the stock exchange) among many others. What’s more, there is no wealth tax involved which makes it an attractive investment option.
Where to Buy Gold in Mysore?
There are many well-known gold showrooms which supply pure BIS Hallmarked gold offering a wide range of designs and patterns. Some of the top showrooms which offer the yellow metal are Salam and Sons, Shankara Chetty and sons, Abhushan Gold Palace, Akshay Jewels, Arihant Jewels, Ashish Jewelers, BKL Sons and Bharat Jewelery halls among many others. Several jewelry stores are located on Ashoka Road, K T Street and Mysore Trade Center among others.
Trend of Gold Rate in Mysore 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)
- The first week in Mysore saw gold rates fluctuating during the week due to inconsistent demand for the metal.
- Gold opened at Rs.2,956 per gram on the 1st, when the week began.
- Increase in global demand resulted in gold to be priced at Rs.2,995 per gram on the 2nd
- Gold prices in Mysore remained the same the next day with steady demand for the yellow metal.
- Gold rates in Mysore rose to Rs.3,015 per gram on the 4th as safe haven investments saw an increase with the US-North Korea conflicts escalating.
- Prices rose further to Rs.3,029 per gram on the 5th after North Korea announced their successful nuclear tests.
- Gold prices in Mysore rose the following day to Rs.3,034 per gram, before sliding to Rs.3,024 per gram on the 7th.
- The yellow metal rates surged to Rs.3,056 per gram on the 8th. This was the highest recorded price for the month of September.
- Demand for the precious metal from investors declined, and prices fell to Rs.3,041 per gram on the 9th.
- The week ended with gold trading at Rs.3,041 per gram on the 10th.
September 2017 - Week 2 (11th-17th)
- Gold rates in Mysore dropped to Rs.3,019 per gram on the 11th as demand for the metal from jewellers and retailers declined.
- Rising tensions between the US and North Korea coupled with low demand for the yellow metal resulted in gold rates to Rs.3,001 per gram on the 12th.
- Gold price in Mysore rose marginally to Rs.3,010 per gram on the 13th as demand increased. However, an uncharacteristic decline in demand in domestic trade resulted in gold rates dropping to Rs.2,995 per gram on the 14th.
- Gold traded at Rs.3,005 per gram for the remainder of the week with steady demand.
September 2017 - Week 3 (18-24):
- The week started off with gold trading at Rs.3,005 per gram on the 18th owing to steady global and domestic trade.
- With the US Federal Reserve meetings happening, investors and stockists delayed their purchases. This resulted in gold trading at RS.2,971 per gram on the 19th.
- Gold rates in Mysore surged to Rs.2,995 per gram on the 20th with the festive season nearing in.
- Gold price in Mysore dropped to Rs.2,970 per gram on the 21st, but bounced back to Rs.2,990 per gram on the 22nd as the US dollar value fluctuated.
- The 23rd saw gold rates dropping to Rs.2,980 per gram on the 23rd as demand for the metal reduced marginally.
- The rest of the week saw gold trade at Rs.2,980 per gram with steady demand.
September 2017 - Week 4 (25th-30th)
- The last week in Mysore opened with gold trading at Rs.2,970 per gram on the 25th.
- The arrival of the festive season proved to be favourable for gold trade and prices surged to Rs.3,029 per gram on the 26th.
- Demand for the metal declined as the US dollar value picked up and gold rates dropped to Rs.3,005 per gram on the 27th.
- Gold price in Mysore dropped to Rs.2,985 per gram on the 28th as investors suspended purchases with the recovery of the US economy.
- Prices remained untouched at Rs.2,985 per gram for the rest of the week, thanks to steady domestic demand for the precious metal.
Trend of Gold Rate in Mysore for August 2017 (rates per gram for 24 karat gold)
|Parameters||Gold price (24 karat)|
|August 1 Rate||Rs.2,878 per gram|
|August 31 Rate||Rs.2,956 per gram|
|Highest Rate in August||Rs.2,976 per gram on 29 August|
|Lowest Rate in August||Rs.2,845 per gram on 7 August|
|Overall Monthly Performance||Incline|
August ‘17- Week 1 (1st to 6th)
- The first week of August saw a few fluctuations in the price of gold in Mysore as demand was muted in light of a recovery by the U.S. dollar.
- Gold was priced at Rs.2,878 per gram on 1 August as demand from the previous month kept prices steady for a while.
- The decline in domestic demand led to a drop in the price of gold, as the metal traded at Rs.2,855 per gram on 5 August.
- The gradual recovery in the dollar price as well as the rise in markets led to poor demand for the yellow metal, as gold ended the week trading at Rs.2,855 per gram on 6 August.
August ‘17- Week 2 (7th to 13th)
- Gold price in Mysore failed to recover as the week began due to a reduction in demand from industry as well as poor retail demand.
- Gold opened the week at Rs.2,845 per gram on 7 August and rose marginally to trade at Rs.2,852 per gram on 8 August.
- As U.S. jobs data figures were lower than expected, markets plunged and demand for bullion rose, resulting in gold prices rising to Rs.2,893 per gram on 10 August.
- The escalation of threats from North Korea kept markets across the world unstable, fuelling higher demand for safe-haven assets like gold and pushing prices to Rs.2,922 per gram on 11 August.
- There was no change in price as the week ended on 13 August as demand was consistent in spite of poor local demand.
August ‘17- Week 3 (14th to 20th)
- Gold prices in Mysore fell marginally as demand stabilised after the highs of the previous week, with the metal opening the third week priced at Rs.2,915 per gram on 14 August.
- There was no change in price for a few days as demand was consistent, with the possibility of nuclear aggression with North Korea prompting sustained demand for bullion.
- Gold price in Mysore dipped to Rs.2,910 per gram on 19 August as industrial demand from Asia fell due to fears of a slowdown in China.
- Local demand began to rise marginally though retail demand continued to be poor, resulting in the week ending with gold priced at Rs.2,910 per gram on 20 August.
August ‘17- Week 4 (21st to 27th)
- Demand was sluggish as the week began but an increase in local retail demand resulted in a rise in the price of the yellow metal as the week progressed.
- Gold was priced at Rs.2,903 per gram on 21 August as industrial demand was on the decline.
- Gold price in Mysore rose to Rs.2,908 per gram on 22 August but dropped to Rs.2,903 per gram on 23 August as demand dropped following a surge in the markets in Europe.
- Upcoming elections in Germany and tensions in France led to a weak Euro, which helped the dollar rise and contributed to lower orders from overseas.
- Gold price in Mysore rose to Rs.2,913 per gram on 25 August before jumping to Rs.2,927 per gram as the week ended on 27 August.
August ‘17- Week 5 (28th to 31st)
- Prices rose during the week as the impact of Hurricane Harvey and fresh tensions between the United States and North Korea led to markets plunging.
- Gold traded at Rs.2,927 per gram on 28 August before rising to Rs.2,976 per gram on 29 August as fresh sanctions against North Korea at the U.N. led to investors rushing to buy gold.
- The yellow metal’s value fell to Rs.2,966 per gram on 30 August as retail demand fell due to the prohibitively high price of the gold.
- A further drop in price was recorded as the month ended, with gold priced 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 & 2 July|
|Lowest Rate in July||Rs.2,796 per gram on 14 July|
|Overall Monthly Performance||Decline|
July 2017 - Week 1 (1st to 9th)
- Gold prices in Mysore 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.
- Prices 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 price in Mysore 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 Mysore 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 Mysore 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 Mysore saw a considerable increase as well.
- Prices 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 Mysore fluctuate considerably due to several domestic and global factors.
- On the 24th of July, gold price in Mysore 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 price in Mysore remained in the 2,870 range due to sustained buying from investors before ending the month at Rs.2,874 per gram.
- 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.2,960 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 (1 to 4)
- The price of gold in the city of Mysore fluctuated due to demand vagaries in the first week of June.
- The yellow metal was priced at Rs.2,933 per gram on 1 June, with the price dipping sharply to Rs.2,915 per gram on 2 June due to a decline in interest by retail consumers and markets.
- A slight recovery was seen in the last two days of the week as gold traded at Rs.2,940 per gram on 3 & 4 June due to increased demand from local jewellers ahead of the rise in price due to GST.
June ‘17- Week 2 (5 to 11)
- Gold price in aipur rose in the second week as investors sought to hedge bets due to market uncertainty.
- Gold traded at Rs.2,955 per gram on 5 June with the price rising to Rs.2,960 per gram on 6 June as international demand also rose.
- Fluctuations in the U.S. dollar rate and the the resultant market rise led to a decline in demand for gold, as the price fell to Rs.2,940 per gram on 9 June.
- Gold rate in Mysore fell further, trading at Rs.2,930 per gram on 10 & 11 June as demand from Asia fell due to imports becoming more expensive as the U.S. dollar recovered.
June ‘17- Week 3 (12 to 18)
- The third week saw the gold price in Mysore continue to fall due to a lowering of demand from th3e industrial sector due to higher import costs.
- The week began with gold priced at Rs.2,925 per gram on 12 June, with the price rising to Rs.2,930 per gram on 13 & 14 June as demand led to a marginal increase in price.
- The steady rise of the U.S. dollar as well as stable markets resulted in a reduction in gold demand from most Asian countries, which led to prices falling to Rs.2,918 per gram on 15 June.
- Prices continued to slide for the rest of the week as local demand was poor; local demand from jewellers also failed to prop up the yellow metal’s value.
- The week ended with gold trading at Rs.2,910 per gram on 18 June.
June ‘17- Week 4 (19 to 25)
- Continuing its downward spiral, gold was priced at Rs.2,905 per gram on 19 June due to poor demand from local jewellers.
- Gold fell to its lowest rate for the month as it traded at Rs.2,895 per gram on 20 June due to flat demand from international markets.
- Gold price in Mysore began to recover marginally as the week progressed, though the increases were minimal.
- Gold rate in Mysore was at Rs.2,910 per kg on 22 June as retail demand increased before the onset of the new taxation structure.
- Rates rose as the week drew to a close, with gold prices recorded at Rs.2,920 per gram on 25 June.
June ‘17- Week 5 (26 to 30)
- The last week of June saw the price of gold fluctuate wildly due to conflicting cues from international markets.
- Gold opened the week trading at Rs.2,918 per gram on 26 June before prices fell sharply to Rs.2,900 per gram on 27 June.
- The renewed retail buying coupled with higher orders for spot gold in Asia led to prices jumping to Rs.2,960 per gram on 28 June.
- Gold demand dropped as the month ended, with the metal trading at Rs.2,920 per gram on 30 June to record an overall decline in price by 0.44%.
|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 ’17 – Week 1 (1st – 7th)
- Gold prices in Mysore reflected trends seen across the country, as the month began with the price falling marginally due to a dip in demand.
- Gold was priced at Rs.2,945 per gram on 1st May, though it traded at Rs.2,905 per gram on 2nd May as industrial demand fell sharply as the U.S. Dollar traded high against other global currencies.
- While European markets were volatile due to the upcoming French presidential elections, demand for gold did not increase as much as expected.
- Prices instead fell, with gold trading at Rs.2,875 per gram on 4th May, and the victory of the Euro-centric Emmanuel Macron led to markets rallying, which pushed demand for gold lower, as the metal traded at Rs.2,850 per gram on 6th May.
- The price remained the same as the week ended, with gold falling due to market conditions and a late surge by global currencies.
May ’17 – Week 2 (8th – 14th)
- The second week of May saw gold prices climb marginally before falling due to unfavourable market conditions.
- Gold was priced at Rs.2,850 per gram on 8th May, with the price rising to Rs.2,855 per gram on 9th May due to a slight rise in demand from local jewellers.
- Prices dropped to Rs.2,840 per gram on 11th May as the Eurozone continued to ride a wave of euphoria following Macron’s win, as both the Euro and the U.S. Dollar were bolstered by high trading volumes.
- Gold traded low for the rest of the week, with the price remaining constant as the week ended on 14th May, with local demand also falling as overseas trends pointed to a decrease in demand for the yellow metal.
May ’17- Week 3 (15th – 21st)
- Gold prices appeared to recover slightly as the U.S. Dollar fell against other currencies due to internal political turmoil.
- The price of gold was recorded at Rs.2,845 per gram on 15th May, with the price rising to Rs.2,905 per gram on 18th May as investors sought refuge in safe-haven assets like bullion as the U.S. stock markets nose-dived.
- European markets also appeared to be falling, which led to increased demand for gold on the commodity exchange as well as among jewellers, which led to gold rising to Rs.2,908 per gram on 20th May.
- Gold prices remained constant as the week ended, trading at Rs.2,908 per gram on 21st May as the metal consolidated gains made earlier in the week.
May ’17 – Week 4 (22nd – 28th)
- God prices fluctuated in the fourth week of May as demand spiked initially, but dropped as markets and the U.S. Dollar recovered.
- Gold was priced at Rs.2,905 per gram on 22nd May before rising to Rs.2,930 per gram on 23rd May on strong trading in the futures markets.
- Local demand also rose, though the impact on prices was minimal.
- Prices dropped to Rs.2,915 per gram on 24th May as crude oil prices rose and the U.S. Dollar strengthened, leading to a decline in demand for gold.
- Prices rose to Rs.2,930 per gram on 27th May as jewellers increased orders in anticipation of higher prices on the implementation of GST.
- The price remained unchanged as the week ended.
May ’17 – Week 5 (29th – 31st)
- The last week of May saw the price of gold fluctuate due to market volatility.
- Gold traded at Rs.2,930 per gram on 29th May as the U.S. Dollar fell on news of poorer than expected jobs data from the U.S. Labour Department.
- In spite of a drop in the dollar value, gold demand was stagnant, with local demand falling.
- Prices rose to Rs.2,938 per gram on 30th May but fell the next day to close the month at Rs.2,918 per gram on 31st May.
- Gold prices recorded a fall in price of 0.91% over the course of the month.
|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 on 15th and 16th April|
|Lowest Rate in April||Rs.2,905 per gram per gram on 10th April|
April 2017 - Week 1 (1st - 9th):
- Gold trading started on a low in April as demand was yet to reach its zenith for the month.
- On the 1st, gold was priced at Rs.2,910 per gram.
- As there was no catalytic events, rates remained unchanged till the 3rd.
- However, as demand went up on 4th, gold prices went up to Rs.2,930 per gram.
- This was the period when geopolitical issues began to appear, with the US involving itself in major conflicts in the middle east.
- The 5th, again, saw gold prices go up to Rs.2,935 per gram but drop off to Rs.2,925 per gram on 6th owing to a fall in demand.
- When the week came to an end, gold was priced at Rs.2,915 per gram.
April 2017 - Week 2 (10th - 16th):
- The second week was when conflicts intensified leading to a sudden surge in gold prices.
- Though the week started slowly, demand took a turn for the better as days progressed, thanks to markets turning volatile.
- On the 10th, gold was trading at Rs.2,905 per gram, which increased to Rs.2,915 per gram on 11th.
- As demand went up amidst falling dollar, gold prices went up to Rs.2,960 per gram on 12th.
- Due to demand showing no signs of letting up, gold prices went up to Rs.2,985 per gram on 13th and then to Rs.2,990 per gram - the highest gold rate for the month.
- When the week came to an end, gold was still trading at Rs.2,990 per gram.
April 2017 - Week 3 (17th - 23rd):
- After hitting uncharacteristic highs during the third week, gold prices seemed to go back down marginally.
- Demand from domestic sectors as well as international markets fell as dollar value rallied on the back of settling concerns.
- On 17th, gold rates went down to Rs.2,985 per gram, which then fluctuated to go down to Rs.2,975 per gram on 18th but went up again to Rs.2,985 per gram as investors were looking to make the most of the latest pitfall.
- Rates went down to Rs.2,975 per gram on the 20th as demand slowly began to go down, which was aided by another fall on 21st, when rates went down to Rs.2,970 per gram.
- However, rates went back up to their highest point again when they hit Rs.2,990 per gram on the 22nd and the 23rd.
April 2017 - Week 4 (24th - 30th):
- When the last and final week of April began, gold prices had dipped to Rs.2,965 per gram as demand had finally consolidated.
- This week saw some price corrections and fluctuations as investors backed out from putting their money on bullion almost unanimously.
- On the 25th, gold rates went down to Rs.2,950 per gram, which then slumped to Rs.2,920 per gram on the 26th.
- But rates rallied up late towards the 27th to end the day at Rs.2,925 per gram, and gained again on the 28th to reach Rs.2,930 per gram.
- Prices went up amidst some hurried buying on the 29th as gold hit Rs.2,945 per gram and remained more or less the same on the 30th.
- Despite some falls towards the latter half of the month, gold rates had gained enough to end on an inclined path.
- The month saw gold price trends change at a rate of 1.20% owing to a number of geopolitical concerns surrounding Syria, Afghanistan, and North Korea.
|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)
- As the month of March progressed, the rate of gold rise during the beginning but continued to fall towards the end.
- However, this demand was sustained only during the beginning of the month and started declining as the month progressed, with a few fluctuations.
- Gold traded 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 gold rate in Mysore 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 was priced 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 Mysore was the same the next day as well.
- As demand for gold fell, 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 rate of gold continued to fall 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 minor 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 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 Mysore 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 price of gold in Mysore 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 from 27th and 28th February|
|Lowest Rate in February||Rs.2,945 per gram on 1st February|
February 2017 - Week 1 (1st - 4th):
- When February began on 1st, gold was trading at Rs.2,945 per gram in Mysore.
- Surprisingly, gold rates on 1st was the lowest for the entire month - making February a positive month for gold sales.
- Gold rates in Mysore didn’t witness much of a change for the next few days of the week as there was no catalytic features meddling with the bullion market.
- Week 1 of February ended in Mysore with gold trading at Rs.2,945 per gram.
February 2017 - Week 2 (5th - 11th):
- Gold rates on 5th remained the same as it was on 4th and was trading at Rs.2,945 per gram.
- The 6th, however, saw gold prices increase to Rs.2,955 per gram - an increase of Rs.10 - as domestic demand increased.
- On 7th, gold prices saw a significant surge to hit Rs.2,980 per gram - a Rs.25 increase - and remained unchanged on 8th.
- The 9th saw demand increase bringing a Rs.5 in gold prices to Rs.2,985 per gram.
- On 10th, gold prices in Mysore fell by a massive margin of Rs.45, courtesy of a strengthening dollar, to reach Rs.2,940 per gram.
- The end of the week was relatively better as gold rates picked up to close week 2 at Rs.2,970 per gram.
February 2017 - Week 3 (12th - 18th):
- The third week of February saw gold prices fluctuate slightly as global markets ran helter-skelter.
- When trading began on 12th, gold was trading at Rs.2,970 per gram but went down to Rs.2,960 per gram on 13th.
- The 14th and 15th also saw a dip in gold prices in Mysore as they went down first to Rs.2,955 per gram and then to Rs.2,948 per gram.
- Prices picked up over the next three day period as they first went up to Rs.2,970 per gram on 16th - an increase of Rs.22.
- The 17th again saw prices increase - this time by Rs.10 - for the metal to trade at Rs.2,980 per gram.
- Week 3 ended in Mysore with gold still trading at Rs.2,980 per gram.
February 2017 - Week 4 & 5 (19th - 28th):
- Gold rates in Mysore went up and down over the last two weeks of February as several policy decision in the US affected the dollar rates and, in turn, bullion prices.
- On 19th, gold was still trading at Rs.2,980 per gram, but went down to Rs.2,970 per gram on 20th.
- After a brief slump, gold was back to performing better with rates reaching Rs.2,995 per gram on 25th.
- Rates were unchanged on the 26th and 27th as no fluctuation in demand was seen.
- The last two days of February saw gold prices rise again to go up to Rs.3,005 per gram.
- Overall, gold price trends saw a change of 2.03% in Mysore over the month of February.
|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.
anuary 2017 - Week 4 and 5 (22nd - 28th):
- 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 Mysore saw prices increase by 3.90%
Gold Price Trends in Mysore in 2015
Buying due to peer pressure, price manipulation and falling currencies are among some of the factors experts cite as triggers for fluctuations in the price of gold. Gold is considered a safe option during hyperinflation since it is believed to hold its purchasing power better compared to money during such periods. The following are the gold rates prevalent in Mysore this year.
22 karat prices: One gram gold in Mysore (22 k) is currently priced at Rs. 2,542. The price of gold has witnessed minor fluctuations with the rates plummeting in that in January this year, one gram of gold was priced at Rs. 2,546.00. The price hovered around Rs. 2,562.00 in February while it was Rs. 2,514, Rs. 2,502 and Rs. 2600 for the months of March, April and May respectively. By the beginning of June, gold rates fell to Rs. 2,535.
24 karat prices: One gram of gold in Mysore (24 k) is currently priced at Rs. 2,726. The rate of gold has seen a minor increase over the past few months in that at the end of the month of May, one gram of gold was priced at Rs. 2,725. The price of gold has been fluctuating with one gram of yellow metal costing around Rs. 2,740.00 towards the end of April and Rs.2,650, Rs.2,680 and Rs.2,818 for the months of March, February and January this year.
- Also Check:Gold Rate in Karnataka
Also Check Gold Price in NearBy Cities of 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 Mangalore||Gold Rate In Kozhikode||Gold Rate In Coimbatore|
|Also Know: Silver Rate in Mysore|
Read more on Gold
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- India’s Love for Gold
- Gold Investment
- Where to Buy Gold In India
- Gold Coin or Gold Bar