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Gold price in Shimoga
Shimoga or Shivamogga as it is known today, is an emerging city in India with a deep rooted love for gold. As a district headquarters, Shimoga attracts people from across the state, with a number of industries located here. These industries have led to the city becoming moderately prosperous, providing an opportunity to residents to invest in gold. Gold rates in the city are primarily determined by international trends, after accounting for local taxes. The sale of gold in Shimoga picks up during festivals, with Diwali and Dussera considered as good times to buy gold.
Trend of Gold Rate in Shimoga for August 2020 (rates per gram of 24 karat gold)
| Parameter |
Gold price (24 karat) |
|
August 1 Rate
|
Rs.5,501 per gram |
|
August 31 Rate
|
Rs.5,295 per gram |
| Highest Rate in August |
Rs.5,761 per gram on 8 August |
| Lowest Rate in August |
Rs.5,066 per gram on 2 August |
|
Overall Performance
|
Decline |
| Percentage Change |
-3.75% |
Trend of Gold Rate in Shimoga for July 2020 (rates per gram of 24 karat gold)
| Parameter |
Gold price (24 karat) |
|
July 1 Rate
|
Rs.4,984 per gram |
|
July 31 Rate
|
Rs.5,496 per gram |
| Highest Rate in July |
Rs.5,496 per gram on 31 July |
| Lowest Rate in July |
Rs.4,946 per gram on 7 July |
|
Overall Performance
|
Incline |
| Percentage Change |
10.2% |
Trend of Gold Rate in Shimoga for June 2020 (rates per gram of 24 karat gold)
| Parameter |
Gold price (24 karat) |
|
June 1 Rate
|
Rs.4,817 per gram |
|
June 30 Rate
|
Rs.4,991 per gram |
| Highest Rate in June |
Rs.4,991 per gram on 30 June |
| Lowest Rate in June |
Rs.4,724 per gram on 8 June |
|
Overall Performance
|
Incline |
| Percentage Change |
3.61% |
Trend of Gold Rate in Shimoga for May 2020 (rates per gram of 24 karat gold)
| Parameter |
Gold price (24 karat) |
|
May 1 Rate
|
Rs.4,681 per gram |
|
May 30 Rate
|
Rs.4,803 per gram |
| Highest Rate in May |
Rs.4,900 per gram on 20 May |
| Lowest Rate in May |
Rs.4,587 per gram on 6 May |
|
Overall Performance
|
Incline |
| Percentage Change |
2.60% |
Trend of Gold Rate in Shimoga for April 2020 (rates per gram of 24 karat gold)
| Parameter |
Gold price (24 karat) |
|
April 1 Rate
|
Rs.4,053 per gram |
|
April 30 Rate
|
Rs.4,731 per gram |
| Highest Rate in April |
Rs.4,800 per gram on 27 April |
| Lowest Rate in April |
Rs.4,053 per gram from 1 April to 5 April |
|
Overall Performance
|
Incline |
| Percentage Change |
16.7% |
Trend of Gold Rate in Shimoga for March 2020 (rates per gram for 24 karat gold)
| Parameter |
Gold price (24 karat) |
|
March 1 Rate
|
Rs.4,090 per gram |
|
March 31 Rate
|
Rs.4,053 per gram |
| Highest Rate in March |
Rs.4,368 per gram on 7 March |
| Lowest Rate in March |
Rs.3,953 per gram on 20 March |
|
Overall Performance
|
Decline |
| Percentage Change |
-0.90% |
Trend of Gold Rate in Shimoga for February 2020 (rates per gram for 24 karat gold)
| Parameter |
Gold price (24 karat) |
| February 1 Rate |
Rs.4,014 per gram |
| February 29 Rate |
Rs.4,195 per gram |
| Highest Rate in February |
Rs.4,232 per gram on 25 February |
| Lowest Rate in February |
Rs.3,956 per gram on 7 February and 8 February |
| Overall Performance |
Incline |
| Percentage Change |
4.50% |
Trend of Gold Rate in Shimoga for January 2020 (rates per gram for 24 karat gold)
| Parameter |
Gold price (24 karat) |
| January 1 Rate |
Rs.3,860 per gram |
| January 31 Rate |
Rs.4,014 per gram |
| Highest Rate in January |
Rs.4,053 per gram on 9 January |
| Lowest Rate in January |
Rs.3,848 per gram on 2 January |
| Overall Performance |
Incline |
| Percentage Change |
3.98% |
Gold investment avenues in Shimoga
Gold has been a popular investment option in Shimoga, with it being passed on from one generation to another. Gold sales peak during festivals and the wedding season, thanks to it being viewed as auspicious. With the government issuing a new gold scheme, one could expect gold to be more accessible to residents. The other options when it comes to investing in gold in Shimoga are mentioned below.
Over-the-counter – Purchasing gold from jewellers remains the most popular mode of owning gold in the city, with people choosing to purchase it primarily in the form of jewellery. Gold coins and bars are other options available to people. Jewellers cater to a diverse consumer base, offering a number of products at different rates. Typically, gold purchased from well-known jewellers or banks can be costlier, primarily due to the fact that a purity certificate is provided with each purchase.
Market trade – With access to the internet, one can purchase gold without being physically present there. Gold ETFs, futures contracts and E-gold are some of the options available to one in India, with the Mumbai Stock Exchange and National Stock Exchange providing a platform through which people can trade in gold.
