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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 May 2017 (rates per gram for 24 karat gold)
|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.
Trend of Gold Rate in Mysore for April 2017 (rates per gram for 24karat gold)
|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%
|December 1st Rate||Rs.2,905 per gram|
|December 31st Rate||Rs.2,820 per gram|
|Highest Rate in December||Rs.2,905 per gram on 1st December|
|Lowest Rate in December||Rs.2,765 per gram on 15th, 22nd and 23rd December|
December 2016 - Week 1 (1st - 4th):
- The month of December in Mysore didn’t see too much of a difference in terms of gold prices when compared to other cities in Karnataka.
- On 1st, gold traded at Rs.2,905 per gram which was the highest gold rate for the month.
- However, prices slumped by Rs.15 to trade at Rs.2,890 per gram on the 2nd.
- The 3rd prices increase to trade at Rs.2,900 per gram which continued till the end of the week on 4th.
December 2016 - Week 2 (5th - 11th):
- Gold rates went down to Rs.2,895 per gram at the beginning of week 2 on the 5th.
- US Federal Reserve gold rate cut rumours hit the news and caused quite a bit of fluctuation this week onwards.
- Gold prices went down by Rs.10 on the 6th to trade at Rs.2,975 per gram and decreased furthermore by Rs.25 to sell at Rs.2950 per gram on the 7th.
- Although, gold prices increased to Rs.2,860 per gram on the 8th, the positive growth was short lived as prices went down to Rs.2,840 per gram on the 9th.
- On 10th, prices went down a little more for gold to trade at Rs.2,825 per gram.
December 2016 - Week 3 (12th -18th):
- From 12th to 14th, gold prices remained the same at Rs.2,825 per gram before increasing by a good margin to hit Rs.2,885 per gram on the 15th.
- Though prices went down to Rs.2,765 per gram on the 16th, they climbed back up for gold to trade at Rs.2,775 per gram on the 17th and 18th.
December 2016 - Week 4 (19th - 25th):
- When week 4 began on 19th, gold prices had increased by Rs.5 as the metal traded at Rs.2,780.
- This week saw gold prices hit their lowest price for the month as it traded Rs.2,765 per gram on 22nd and 23rd.
- When week 4 ended, prices of gold has increased marginally to trade at Rs.2,770 per gram.
December 2016 - Week 5 (26th -31st):
- New year was quite close when trading began on the 26th which seemed to increase the frequency of gold purchases during this week.
- On 26th, gold traded at Rs.2,775 per gram. The price later increased to Rs.2,780 per gram on the 27th and 28th.
- When trading began on the 29th, prices had increased by Rs.2,800 per gram and later hiked up to Rs. 2,815 and Rs.2,827 per gram on the 30th.
- 2016 ended with gold trading at Rs.2,820 per gram.
- All in all, prices for gold declined by -2.92% in Mysore for the month of December.
|Highest Price||Rs.3,180 on 9th November|
|Lowest Price||Rs.2,905 on 24th November|
November 2016 - Week 1 (1st - 6th)
- Gold prices opened at Rs.3,060 per gram at the beginning of November 1st and the rate continued to fluctuate throughout.
- On 2nd November, gold prices increased by Rs.35 to trade at Rs.3,095 per gram.
- As demonetization was announced, people started buying more gold and hence prices increased again on the 3rd as rates increased further by Rs.20 to reach Rs.3,115 per gram.
- 4th November, however, saw a small dip as confusion ensued regarding the discontinuation of Rs.500 and Rs.1,000 notes, where in prices ended at Rs.3,110.
- On 5th November, prices again increased by Rs.10 to hit Rs.3,120 per gram and continued to maintain this rate till the closing hours of the week on 6th November.
November 2016 - Week 2 (7th-13th)
- When trading began on 7th November, prices had witnessed a Rs.30 fall and prices came down to Rs.3,090 per gram.
- On the 8th, gold prices slid further to hit Rs.3,080 per gram.
- After the announcement that Rs.500 and Rs.1,000 will be cancelled, demand for gold picked up massively and prices surged by Rs.100 to hit Rs.3,180 per gram on 9th November.
- The 10th and 11th of the month saw gold trading prices come to Rs.3,110 per gram as the initial surge of buyers seemed to calm down.
- On 12th, however, prices fell significantly by Rs.70, as gold begun trading at Rs.3,040 per gram. The same continued till the end of the week on 13th November.
November 2016 - Week 3 (14th-20th)
- The third week of November saw gold prices fall further as the metal began trading at Rs.3,025 at the beginning of the week on 14th, which trickled down to the next day on the 15th.
- November 16th and 17th saw prices decrease slightly more as they remained at Rs.3,010 for much of these two days.
- The 18th, however, saw a massive drop of Rs.50 to bring down the price furthermore to Rs.2,960 per gram.
- Towards the end of the week, prices begun to stabilize as the demand slowed down as prices hit Rs.2,965 at the end of the week.
November 2016 - Week 4 and 5 (21st to 30th)
- The final two weeks of the month were again a tumultuous period for gold as prices fluctuated quite a lot.
- Prices surged initially, for the first three days, then decreased significantly before stabilizing towards the last few days.
- Gold started trading at Rs.2,970 per gram at the beginning of the week on 21st and increased to Rs.2,980 per gram on the subsequent day.
- On 23rd, gold prices again increased by Rs.5 to end the day at Rs.2,985 per gram.
- The 24th, however, saw prices drop by Rs.54 as they went down to Rs.2,931.
- On 25th November, prices further dropped to Rs.2,905 per gram, the lowest price for the entire month.
- The next four days from 26th to 30th, however saw minor increase and decrease of Rs.5 or so to end the month on a stable price of Rs.2,930 per gram.
- Overall, the gold price trend for the month of November saw a decline of -4.24%.
|1st Day||Rs.3,160 per gram|
|Last Day||Rs.3,060 per gram|
|Highest Price||Rs.3,169 per gram on 1st to 3rd October|
|Lowest Price||Rs.3,016 per gram on 17th October|
October 2016 – Week 1 and 2 (1st to 9th)
- Gold traded at Rs.3,160 per gram from 1st October to 3rd October.
- Prices of gold dropped this week as expectations of the Fed rate hike grew strong in the global market.
- Muted demand in the domestic market was also a factor in low prices this week.
- Demand is expected to rise as the festive season takes off.
- Gold prices dropped to Rs.3,020 per gram by the end of the week.
October 2016 – Week 3 (10th to 16th)
- Gold was able to recover marginally this week as low prices of gold encouraged festive shoppers to start the season early.
- Gold was seen trading at Rs.3,030 per gram from 10th to 13th October.
- Weak global trends gave gold a tough time this week and prices dropped to Rs.3,020 per gram by the end of the week.
- Reduced demand from jewellers and retailers did not play well for gold.
October 2016 – Week 4 (17th to 23rd)
- Gold traded at Rs.3,016 per gram on 17th October, the lowest price for this month, as anticipation of the Fed rate hike was strong.
- With the wedding season nearing, demand for gold picked up in the domestic market.
- By the end of the week, gold had recovered and traded at Rs.3,035 per gram as market trends firmed up.
- The trend for this week was an increase in gold prices.
October 2016 – Week 5 (24th to 31st)
- Gold prices climbed this week on the back of increased demand.
- The festive season brought in more demand for gold in the domestic market.
- A weak dollar played in favour of gold in the global market.
- Gold traded at Rs.3,045 per gram on 24th October and climbed to Rs.3,070 per gram on 29th and 30th October.
- High demand is expected to continue in light of the festive and wedding seasons.
- The trend for this month was a decline of 3.16%.
|1st Day||Rs.3,125 per gram|
|Last Day||Rs.3,160 per gram|
|Highest Price||Rs.3,190 per gram from 25th to 29th September.|
|Lowest Price||Rs.3,115 per gram on 02nd of September.|
September '16 - Week 1 – (01st to 04th)
- 24K gold traded at Rs.3,125 per gram on the first day of the week in Indore.
- Gold rate reached the lowest rate for the month on the second day of the week when the yellow metal traded at Rs.3,115 per gram.
- As festive demands from domestic market picked up, gold rates slightly increased on 03rd September.
- The yellow metal closed at Rs.3,140 per gram.
- Glimpses of an incline trend in gold prices was recorded this week.
September '16 - week 2- (05th to 11th)
- Gold continued to trade at Rs.3,229 per gram on 06th and 07th of September.
- As demand for gold poured in from domestic jewellers, gold rates spiked and traded at Rs.3,185 per gram on 07th of September.
- Following poor trend overseas, gold rates dropped and traded at Rs.3,182 and Rs.3,180 per gram on 09th and 10th of September, respectively.
- Experts predict better days for gold in the upcoming weeks as it is festive season.
September '16 - week 3 (12th to 18th)
- Despite unfavourable conditions for gold in the international market, gold managed to remain constant throughout this week.
- Gold traded at Rs.3,180 per gram from 12th to 15th of September.
- The stability in gold trend can be attributed to the constant demand that flowed from local market.
- As industrialist reduced their intake of gold, the prices of gold fell on 17th of september and traded at Rs.3,155 per gram.
September '16 - week 4 (19th to 25th)
- Gold continued to trade at Rs.3,155 per gram on the 19th of September.
- As jewellers geared up for the festive season, a slight increase in gold rates was reported on 21st of September when gold traded at Rs.3,165 per gram.
- Gold increased further and traded at Rs.3,190 per gram and closed at the same rate on 25th of September which was also the highest recorded gold rate for the month.
- The increase was mainly due to the demand from the domestic market.
September '16 - week 5 (26th to 30th)
- Gold rates continued to trade at Rs.3,190 per gram from 26th to 29th of September which is the highest gold rate recorded for the month.
- Fed rate hike was postponed due to the upcoming elections in the U.S which worked in favour for the yellow metal.
- Constant domestic demand also contributed to the increase in gold rates.
- Gold rate fell on the last day of the month and traded at Rs.3,160 per gram.
- Despite the decline in gold rates, experts predict that gold will bounce back as the festive season is fast approaching.
|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 opened at Rs.3,190 per gram and remained steady on the 02nd of August.
- Gold started climbing and traded at Rs.3,225 per gram on 03rd of August due to demand from domestic gold spots.
- Fed rate hike expectation kept gold rate low in India.
- Gold rate stabilized and traded at Rs.3,196 per gram from 05th to 07th of August.
August '16 - Week 2 (8th to 14th)
- A slight decrease in gold rates was noticed on the first day of the week.
- Following weak trend overseas, gold traded at Rs.3,165 and Rs.31600 per gram on 08th and 09th of August, respectively. The latter being the lowest gold rate reported for this month.
- With things getting better in the global market, gold rate in Mysore surged and traded at Rs.3,195 per gram on the 10th of August.
- Despite demand from local traders, positive U.S employment data and firm dollar rate kept gold prices low this week.
- Gold closed at Rs.3,175 per gram.
August '16 - Week 3 (15th to 21st)
- Gold prices continued to trade at Rs.3,175 per gram on the first day of the week.
- Gold prices slightly increase due to domestic demand and traded at Rs.3,205 per gram, which is the highest gold rate recorded for the month.
- Gold closed at Rs.3,200 per gram.
- Experts predict that gold prices will increase during the second half of the year on account of upcoming festivals in India.
August '16 - Week 4 (22nd to 28th)
- This week, the overall trend indicated declining gold prices.
- Gold rate gradually declined throughout the week due to firm dollar, much anticipated Fed rate hike speculations and strong employment rate in the United States of America.
- Gold opened at Rs.3,180 per gram and closed at Rs.3,160 per gram.
August '16 - Week 5 (29th to 31st)
- Gold rate remained unchanged on the first two days of the week and traded at Rs.3,160 per gram.
- Despite unfavourable climate abroad, gold managed to avoid major fluctuations and remain steady due to constant demand in the domestic market.
- Gold closed at Rs.3,140 per gram.
|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)
- Gold traded at Rs.3,130 per gram on 1st July.
- Gold had an air of uncertainty around it as the Brexit vote affected the global market.
- Gold rates increased to Rs.3,150 per gram on 2nd July and 3rd July.
July'16 - Week 2 (4th to 10th)
- Gold traded at Rs.3,180 per gram at the beginning of the week.
- Demand for gold was on the rise, as equities fell. Gold rates increased to its highest on July 7th with trading at Rs.3,205 gram.
- Investors anticipated that there would be more monetary stimulus from the central banks.
- Gold slipped again as the U.S. released strong job data. The week ended at Rs.3,180 per gram.
July'16 - Week 3 (11th to 17th)
- Due to uncertainties in the international markets, gold fluctuated through the week.
- Gold traded at Rs.3,170 per gram on 11th July.
- The lowest rate was seen on 14th July as gold rates dropped to Rs.3,135 per gram.
- Gold regained some of its strength by the end of the week and closed at Rs.3,170 per gram.
July ‘16 - Week 4 (18th to 24th)
- Gold traded at Rs.3,165 on 18th July and saw a declining trend at the beginning of the week.
- The U.S. dollar gained strength on the back of strong economic data leading to rising expectations of a Fed rate hike.
- Gold prices increased towards the end of the week trading at Rs.3,150 per gram.
July ‘16 - Week 5 (25th to 31st)
- The price of gold was Rs.3,150 per gram on 25th July.
- The prices then dropped owing to the inversely proportionate relationship to the U.S. dollar which was rising.
- Gold rates stabilised by 28th July, trading at Rs.3,170 per gram till the end of the week.
|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 declined by Rs.18 to Rs.3,052 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 and finish strong at 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)
- Demand for gold dropped marginally on account of statements by Us Federal authorities.
- Investors chose to adopt a cautious approach post this statement.
- Gold traded at Rs 2,905 on 1st.
- Prices dropped by Rs 20 on 3rd, as the week ended with gold trading at Rs 2,885.
Apr ‘16 - Week 2 (4th to 10th)
- A drop in rates was witnessed on 4th, as prices fell by Rs 5.
- Gold rates picked up over the week, trading at Rs 2,920 on 6th before dipping to Rs 2,910 on 7th.
- An increase in rates was witnessed post this drop, as gold ended the week on a high, trading at Rs 2,940.
Apr ‘16 - Week 3 (11th to 17th)
- Gold rates in Mysore were a reflection of market trends over the week.
- An overall increase of Rs 10 was witnessed during this period.
- The week began on a high, with gold trading at Rs 2,955 on 12th, before prices dropped to Rs 2,925 on 14th.
- Gold rates stayed steady at Rs 2,925 till 16th, before ending the week on a high, trading at Rs 2,950.
Apr ‘16 - Week 4 (18th to 24th)
- Gold rates fluctuated on a daily basis over the week.
- Gold traded at Rs 2,955 on 18th, dropping marginally on 19th.
- Prices rose and fell on alternate days, reaching a high of Rs 2,980 on 22nd, before dropping to Rs 2,975 on 24th.
- An overall increase of Rs 20 was seen during this period.
Apr ‘16 - Week 5 (25th to 30th)
- Rates dipped marginally on 25th, falling to Rs 2,960.
- Prices picked up over the next few days, with gold rallying to cross the Rs 3,000 mark on 29th.
- Gold traded at Rs 3,038 on 29th and Rs 3,070 on 30th, ending the month on a high.
|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 2,699 on 2nd|
Mar'16 - Week 1 (1st to 6th)
- The budget proposed a hike in the excise duty on gold, which led to protests from jewellers.
- Protests impacted gold trade in the city.
- Gold price was Rs 2,975 on March 1st and dropped to Rs 2,699 on 2nd, the lowest for the month.
- Prices quickly bounced back to Rs 2,975 and stayed at this level throughout the week.
Mar'16 - Week 2 (7th to 13th)
- Protests continued into the second week, with gold trade being impacted.
- Prices fell marginally, dropping to Rs 2,968 on 7th.
- Prices increased to Rs 2,973 on 11th, before dropping to Rs 2,926.
- The week ended with gold trading at Rs 2,926.
Mar'16 - Week 3 (14th to 20th)
- A few jewellers opened their stores for business after two weeks of protest.
- Prices increased marginally, going up to Rs 2,938 on 15th.
- Prices fell to Rs 2,894 before bouncing back to Rs 2,926.
- A further drop was witnessed on the 20th, as rates fell to Rs 2,908.
Mar'16 - Week 4 (21st to 27th)
- The week began on a high as rates went up from Rs 2,908 to Rs 2,935 on 21st.
- Prices however fell continuously through the week, dropping to a low of Rs 2,874.
- The week ended with gold rates at Rs 2,910.
Mar'16 - Week 5 (28th to 31st)
- Gold rates dropped from Rs 2,910 to Rs 2,870 on 28th.
- An overall increase in rates was witnessed during the week.
- Prices went up to Rs 2,900 on 31st to close the month at a loss of Rs 75 from 1st.
|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 started February on a positive note.
- Prices were Rs.2,718 on 1st and Rs.2,815 on 7th.
- Gold appreciated continuously all through the week, clocking a cumulative gain of Rs.97 during the week.
Feb '16 - Week 2 (8th to 14th)
- Prices appreciated again during the 2nd week.
- Rates were Rs.2,805 on 8th and Rs.2,965 on 14th.
- Gold rose to Rs.2,975 by 12th before sliding to Rs.2,965 by 14th, with a cumulative gain of Rs.160 over the week.
Feb '16 - Week 3 (15th to 21st)
- Gold’s positive streak continued going into the third week.
- Rates were Rs.2,920 on 15th and Rs.2,960 on 21st.
- Gold dropped to Rs.2,875 on 16th before rallying to Rs.2,960 by 21st, rising by Rs.40 over the week.
Feb '16 - Week 4 (22nd to 29th)
- Gold ended February on a positive note.
- Prices were Rs.2,925 on 22nd and Rs.2,960 on 29th.
- Gold rose consecutively till 26th to settle at Rs.2,975 before sliding to Rs.2,960 to end the month on a profitable note.
|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 were up during the 1st week of January.
- Prices were Rs.2,545 on 4th and Rs.2,633 on 10th.
- Gold rates were up on consecutive days throughout the week on strong buying by jewellers on the domestic sector and favourable global cues.
- Gold rates were down in the 2nd week.
- Rates were Rs.2,638 on 11th and Rs.2,605 on 17th.
- Gold fluctuated to Rs.2,642 before dropping to Rs.2,605 by 14th.
- Gold remained stable at Rs.2,605 for the rest of the week.
- Gold rates appreciated during the 3rd week.
- Rates were Rs.2,657 on 18th and Rs.2,660 on 24th.
- Gold was mostly stable within the range of Rs.2,650 to Rs.2,670 for the week.
- Gold rates appreciated again in the final week of January.
- Prices were Rs.2,670 on 25th and Rs.2,710 on 31st.
- Gold gained Rs.55 till 29th to touch Rs.2,725.
- Prices slid to Rs.2,710 on 30th and 31st to end the month on an overall positive note.
|1st December rate||Rs.2,555|
|31st December rate||Rs.2,564|
|Highest rate in December||Rs.2,603 on 14th|
|Lowest rate in December||Rs.2,545 on 19th and 20th|
- Gold rates appreciated in the 1st week of the month.
- Prices were Rs.2,555 on 1st and Rs.2,597 on 7th.
- Gold rose to Rs.2,572 on 3rd before dropping marginally to Rs.2,561 on 4th.
- Gold gained Rs.39 on 5th when prices rose to Rs.2,600.
- It was trading slightly lower at Rs.2,597 on 7th.
- Gold rates appreciated marginally over the course of the 2nd week.
- It was priced at Rs.2,595 on 8th and Rs.2,603 on 14th.
- Gold dropped to Rs.2,574 by 9th before rising to Rs.2,590 by 13th.
- Prices were up again on 14th as gold rose to Rs.2,603.
- Gold rates depreciated in the 3rd week of the month.
- Prices were Rs.2,580 on 15th and Rs.2,561 on 21st.
- Gold traded in the negative all through the week except for 21st when prices rose to Rs.2,561 from Rs.2,545.
- There was marginal depreciation in rates in the last days of December.
- Rates were Rs.2,569 on 22nd and Rs.2,564 on 30th.
- Gold was stable throughout the week and was trading within the range of Rs.2,560 to Rs.2,569.
|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 depreciated in the 1st week of the month.
- Prices were Rs.2,681 on 1st and Rs.2,600 on 7th.
- Gold increased to Rs.2,724 on 2nd and stabilized at Rs.2,722 on 3rd.
- There was a continuous drop in rates for the remaining part of the week, with gold losing Rs.122 over the course of 4 days to settle at week ending rate of Rs.2,600.
- Gold rates declined marginally over the course of the 2nd week.
- It was priced at Rs.2,600 on 8th and Rs.2,580 on 14th.
- Gold rallied over the first 5 days of the week to touch Rs.2,660 by 12th.
- Prices dropped in the next 2 days by Rs.41 and Rs.39 to settle at Rs.2,580 for the week.
- Gold rates were stable overall in the third week of the month.
- Prices were Rs.2,580 on 15th and Rs.2,575 on 21st.
- Gold appreciated by Rs.66 on 16th to touch Rs.2,646, before losing out the gains in the next two days to settle at Rs.2,581 on 18th.
- Gold dropped further to Rs.2,566 on 19th and stabilized at Rs.2,575 by the end of the week.
- There was some more depreciation in rates in the final days of the month.
- Rates were Rs.2,575 on 22nd and Rs.2,566 on 30th.
- Prices stayed in the range of Rs.2,575 to Rs.2,585 all through the 4th week and on 29th as well.
- Gold dropped to Rs.2,566 on 30th from Rs.2,583 on 29th.
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
- Significance of Gold
- Significance of Indian Jewellery
- India’s Love for Gold
- Gold Investment
- Where to Buy Gold In India
- Gold Coin or Gold Bar