Gold Rate Today in Mysore Last Updated : 09 Dec 2022

This city in Karnataka had a healthy demand for gold. Although purchased for ornamental usage, the metal is also acquired for investment requirements.

The gold rate in Mysore is influenced by the supply and demand in the city. However, it is also influenced by various market trends that happen on a global scale. The dollar – rupee relationship too plays an important part in determining the price of gold. To understand in-depth analysis of gold rates in Mysore, read the article below.

  • Today's Gold Rate in Mysore (09 Dec 2022)

    ₹ 5,065
    Today's Gold Rate (22K) per gram

    Compare 22K & 24K Gold Rate In Mysore (Today & Yesterday)

    Rate Change
    Standard Gold (22 K) (1 gram) ₹ 5,065 ₹ 5,065 ₹ 0 ↑
    Standard Gold (22 K) (8 grams) ₹ 40,520 ₹ 40,520 ₹ 0 ↑
    Pure Gold (24 K) (1 gram) ₹ 5,318 ₹ 5,318 ₹ 0 ↑
    Pure Gold (24 K) (8 grams) ₹ 42,544 ₹ 42,544 ₹ 0 ↑

    Daily Gold Rates

    Date Standard Gold (22 K) Pure Gold (24 K)
    1 gram 8 grams 1 gram 8 grams
    08 Dec 2022 ₹ 5,065 ₹ 40,520 ₹ 5,318 ₹ 42,544
    07 Dec 2022 ₹ 5,065 ₹ 40,520 ₹ 5,318 ₹ 42,544
    06 Dec 2022 ₹ 5,045 ₹ 40,360 ₹ 5,297 ₹ 42,376
    05 Dec 2022 ₹ 5,075 ₹ 40,600 ₹ 5,329 ₹ 42,632
    04 Dec 2022 ₹ 5,060 ₹ 40,480 ₹ 5,313 ₹ 42,504
    03 Dec 2022 ₹ 5,060 ₹ 40,480 ₹ 5,313 ₹ 42,504
    02 Dec 2022 ₹ 5,040 ₹ 40,320 ₹ 5,292 ₹ 42,336
    01 Dec 2022 ₹ 4,990 ₹ 39,920 ₹ 5,240 ₹ 41,920
    30 Nov 2022 ₹ 4,970 ₹ 39,760 ₹ 5,219 ₹ 41,752
    29 Nov 2022 ₹ 4,960 ₹ 39,680 ₹ 5,208 ₹ 41,664

    Weekly & Monthly Graph of Gold Rate in Mysore (1 gram)

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    *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.

    Todays Gold Price in Mysore

    Gold rate 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 rate 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 rate 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.

    FAQs on Gold rate in Mysore

    1. What to check while buying gold jewellery in Mysore?

      The below-mentioned are a few points one should note when buying gold jewellery in Mysore: Check the purity of gold used while making the jewellery, i.e. 22 karat or 24 karat, Check if the ornament is hallmarked and Check the making charges applied.

    2. Is 24 karat gold in Mysore more expensive than 22 karat gold?

      Yes, 24 karat gold in Mysore is more expensive than 22 karat gold.

    3. How is the price of gold determined in Mysore?

      The price of gold depends on various factors such as rate of interest, government policy, demand for gold, etc. Externally, the change in currency rates especially of Indian rupee with respect to US dollars, price of oil, and even political factors may determine the price of gold in the country.

    4. What is the difference between 24 karat gold and 22 karat gold in Mysore?

      The 24-karat gold is of the highest purity while the 22-karat gold is slightly less pure. It is difficult to make and use jewellery made of 24-karat gold as it would be soft and mushy. That is why 22-karat gold is used to make jewellery.

    5. Will fixed deposit interest rates play a role in affecting the prices of gold in Mysore?

      Yes, fixed deposit interest rates will play a role in affecting the prices of gold in Mysore.

    6. How can I check whether the gold that I have purchased is real in Mysore?

      One of the easiest ways to check the authenticity of your gold is to conduct the float test. Take your gold ornament and put it in a bowl of cold water. If the gold item sinks to the bottom of the bowl, then it is real gold since the precious metal’s density is high, otherwise it fake or a plated gold ornament. The other way to check is by taking your gold ornament and bringing it close to a magnet. If it sticks to the magnet then it is fake gold. Real gold will not stick to the magnet.

    7. What factors should I consider before investing in Mysore gold?

      Before investing in gold make sure you keep certain factors in mind such as the rate of interest, government policy with regards to purchasing of gold, cost of 10 grams of 24-karat and 22-karat, performance of both domestic and global market performance etc.

    8. What factors affect gold rates in Mysore?

      Some of the factors that determine gold rates in Mysore are given as: Gold prices in the international markets, Value of the rupee against the dollar and Import costs.

    Check Gold Price in NearBy Cities of Mysore

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