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Gold Rate in Bangalore (23rd February 2017)

Bangalore or Bengaluru as it is now called, has seen a remarkable rise in Gold Prices today than ever before. In fact, there has been a good demand for gold in Bangalore during the course of the year. If you are buying the precious metal check everyday gold prices in Bangalore.

Today 22 Carat Gold Price Per Gram in Bangalore (INR)

Gram 22 Carat Gold
Today
22 Carat Gold
Yesterday
Daily Price Change
1 gram ₹ 2,774.80 ₹ 2,784.80 ₹ -10
8 gram ₹ 22,198.40 ₹ 22,278.40 ₹ -80
10 gram ₹ 27,748 ₹ 27,848 ₹ -100
100 gram ₹ 2,77,480 ₹ 2,78,480 ₹ -1,000

Today 24 Carat Gold Rate Per Gram in Bangalore (INR)

Gram 24 Carat Gold
Today
24 Carat Gold
Yesterday
Daily Price Change
1 gram ₹ 2,968.20 ₹ 2,978.90 ₹ -10.70
8 gram ₹ 23,745.60 ₹ 23,831.20 ₹ -85.60
10 gram ₹ 29,682 ₹ 29,789 ₹ -107
100 gram ₹ 2,96,820 ₹ 2,97,890 ₹ -1,070

Gold Rate in Bangalore for Last 10 Days (10 g)

Date 22 Carat 24 Carat
Feb 22, 2017 ₹ 27,748 ₹ 29,682
Feb 21, 2017 ₹ 27,848 ₹ 29,789
Feb 20, 2017 ₹ 27,846 ₹ 29,789
Feb 19, 2017 ₹ 27,852 ₹ 29,788
Feb 18, 2017 ₹ 27,752 ₹ 29,683
Feb 17, 2017 ₹ 27,752 ₹ 29,681
Feb 16, 2017 ₹ 27,598 ₹ 29,520
Feb 15, 2017 ₹ 27,693 ₹ 29,629
Feb 14, 2017 ₹ 27,697 ₹ 29,628
Feb 13, 2017 ₹ 28,148 ₹ 30,014

Weekly & Monthly Graph of Gold Price in Bangalore

Historical Price of Gold Rate in Bangalore

  • Gold Price Movement in Bangalore, January 2017
  • Gold Rates 22 Carat 24 Carat
    1 st January rate Rs.26,966 Rs.28,862
    31st January rate Rs.27,878 Rs.29,732
    Highest rate in January Rs.28,390 on January 18 Rs.30,242 on January 18
    Lowest rate in January Rs.26,966 on January 2 Rs.28,862 on January 2
    Over all performance Rising Rising
    % Change +3.38% +3.01%
  • Gold Price Movement in Bangalore, December 2016
  • Gold Price Movement in Bangalore, November 2016
  • Gold Price Movement in Bangalore, October 2016
  • Gold Price Movement in Bangalore, September 2016
  • Gold Price Movement in Bangalore, August 2016

Gold in the futures market in Bangalore

If you are looking to buy gold in Bangalore today, one option would be the futures market. Often we ask ourselves what is the futures market for gold trading. It is the ability to buy and sell gold at a future date. Now let us clearly cite the difference between the two markets. One is the physical maket, where you buy and sell gold in the physical form. In the futures market you buy the requisite quantity and you have to square the position of the gold you bought. You can open an account to trade in the futures market through a reputed stock broker in the country. These would open an account at the MCX. You can buy in small quantities and only pay margin money for the same. This is the beauty of the futures market for gold trading, where you do not have to bother about your budget, as you can buy large quantities with a really small amount. Let us now give an example. Say 10 grams of gold costs you Rs 29,000 in the physical market. When you buy this 10 grams, you do not have to pay the entire amount. All you have to do is pay a margin requirement, which could be as low as 10 per cent or even less than that. So, you might end-up paying just about Rs 2,900. What this means is that you can take a larger and larger exposure for the same amount. Now one thing that is worth mentioning is that this can be a very risky proposition as the exposure in this mechanism is very high.

Gold Rate in Bangalore, 22 & 24 Carat Gold Price Today

Are you missing a diversification tool?

Often there is a thought and perhaps wrongly so, to wean off people from buying gold and get them to buy financial assets like shares, bonds, FDs etc. While it is a good thought to diversify, if you are an investor in Bangalore, it is a bad idea not to have your holdings in gold. Let us tell you why? Let us assume an investor in Bangalore invested all his money in shares. What happens when the stock market slides, is that he would lose a lot of his capital. On the other hand what does tend to happen is that when equities collapse, gold prices tend to gain ground. So, to that extent, we would like to state that if you have not diversified your assets and purchased gold, chances are bright that you would have lost money. What gold has done for an investor in Bangalore is that it has helped him or her to hedge his risk. This is why it remains a very important investment that helps to diversification your risk. yes, it may not give you dividends and the taxation part of it is not favourable when compared to instruments like equities, but, you have to invest at least part of your holding in gold, if you want to really make money and profit from any adverse market fluctuations. Among the many options that are presently available include the likes of gold ETF and the sovereign gold bonds. But, you must buy some of these for sure.

How to sell physical gold at the highest price in Bangalore?

It is not simple to sell physical gold. It is harder to get the highest prices for it as well. So to make things a little easy one can follow these instructions to get the best price for the gold one is trying to sell in Bangalore.

1) First, know what are the 22 karats or 24 karats live gold rates in Bangalore. In order to set an idea how much money you should be getting for the gold you have.

2) The price of the gold you will be getting also depends on where you are selling your gold. Than going to a gold smith it is advisable to go to a well-known jeweler to get a good price for the gold you are selling.

3) Follow the stock market because As mentioned above gold is inversely proportional US Dollar not only dollar there are many more parameters that affect the gold rates in Bangalore it is better you wait and sell your gold when the time is right.

4) Study the history of gold, to estimate at which point of time you will be getting the best value of gold. One needs to study the history of gold and also needs to know due to what reasons gold rates in Bangalore changed at that time. Better to be patient and sell the gold when such situations repeat.

It is better if one goes for gold ETF's than investing in physical gold. There will be fund managers or brokers who will be following up all the above measures and recommending you when to sell or buy.

Yes, there will be charges to pay to them. But when compared it is worthy to pay to them. As they are saving you all the hassle and helping you in making profits.

Importing gold into Bangalore

Gold is generally imported by the large banks who then sell the same to dealers from where it is supplied to the retailers. For the purpose of making gold jewellery these are generally supplied in large gold bars. When international prices go higher, gold prices become costlier to import, which is when the price hike is reflected in the retail price of the precious metal, which is obviously passed on to the customer. Trading in the futures market gives you a better indication of where gold prices in Bangalore are headed today. For example, in the futures market the trading opens much earlier, then the jewellery shops that open much later. So, you get a clear indication of the days gold rates in Bangalore much ahead of time. This means that you can decide a little advance, as if the prices are high keeping in mind the futures trend, you can avoid purchasing gold for the day. We wish to emphasize that at all times it is necessary to keep an eye on the prices of gold. This is because the precious metal is no longer a cheap commodity and variations in prices could mean a lot.

Bangalore gold rates and central bank's intervention

Bangalore gold prices today are dependent on a host of factors and one of these is the buying of the precious metal by central banks across the world. For example, the Indian Reserve Bank of India has also had substantial gold reserves and has been accumulating the same in the past. However, the scenario is not very good across the globe for central bank purchases of it. In fact, according to reports central banks across the world purchased just about 271 tonnes in the first 11 months of 2016, as compared to 407 tonnes by the same period in 2015. Gold in the past has had tremendous support from central banks across the world and this led to substantial buying in the precious metal. The one reason for that is as these institutions support the metal it leads to an increase in demand which also translates into buying support for the precious metal. How much of the metal will these institutions buy is something that these central banks decide perhaps along with their central governments. What we do know is that it does make an impact on prices. The more they buy the greater the possibility of prices rising. On the other hand, as they sell, it could lead to a drop in prices. Boosting these reserves or not is a pure prerogative of these central banks across the world. If you are a buyer in gold, you should not be too worried as these policy decisions could change an if there is a buying demand, you may benefit.

A good start for gold prices in Bangalore in 2017

It has been an excellent start for gold prices in Bangalore in 2017. While international prices saw a rally of around 9 per cent last year, in India the gains were much higher, as the rupee depreciated against the dollar. The drop in the rupee almost always tends to have an impact on gold prices in India. Analysts are most certainly divided on whether gold could give further gains in the coming days in Bangalore. This is because we have seen a substantial upswing in prices already for the precious metal. Prices which were hovering around the Rs 26,000 levels are now back above the RS 28,000 levels in Bangalore. Both, 22 karats and 24 karats gold have seen a spectacular rally. Anymore gains may clearly be capped at the current levels. This is becasue you are likely to see some selling pressure at higher levels. gold for 22 karats was last tradign at Rs 28,100 per 10 grams in the city of Bangalore. It is always dangerous to predict the direction of movement of the precious metal, though we have seen gold for 22 karats go as high as Rs 32,000 per 10 grams in the recent past. If you are looking to sell it could be the ideal time, as you could partially book profit in gold. We suggest that you take a more long term view on the precious metal, as they tend to give better returns in the long term. Another area that you should be concerned when it comes to gold is the duties that the government places on the precious metal. If the duties are raised it tends to impact the price of the metal. That is one reason, you should be particular when buying into the metal. There are chances that it could be a make or break condition as far as gold is concerned.

Availing gold loans in Bangalore

Sometimes when you are in dire need taking a gold loan would not be a bad idea. There are various reasons why you should opt for a gold loan. If you are opting for any other loans, it could be either tedious or time consuming. Hence, a better proposition would always be a gold loan. All you have to do is carry your gold with you and just pledge the same. You might need an identification. Gold loan companies do not have any stringent norms, because they know that you have pledged your gold. So, they have some kind of surety. What is important to note is that you should be in a position to pay back the money, because after all your gold is with the gold loan company. So, in case you are not able to pay the gold loan company has all the rights to confiscate the amount. What this means is that you could lose your precious jewellery. It is hence very important to be sure that you can pay the same. Also, most of the gold jewellers in the country tend to keep your gold in their custody. One other thing that is worth mentioning about gold is that the tenure of the loan is very small at just 11 months.

Gold: A great diversification strategy in Bangalore

If you are looking to diversify your assets there is no better strategy to have then to diversify the same through buying into gold. This is possibly the best mechanism that you could have and should be a strategy that could pay-off in the future. Just imagine what would happen, if you put all your eggs in one basket. It could lead to severe losses in time of crisis and hence it makes sense to buy into gold as well. The best way that we would advocate is to go in for the gold etfs, wherein you would have a plethora of options in the city of Bangalore. Now the one reason that we keep on harping to buy gold in bangalore is simply because we have the gold ETFs, which are easily available and are also easy to sell. If you are looking to buy Gold ETFs in Bangalore, you first need to talk to your broker who would assist uyou in buying. Just use the same procedure of how you buy shares. These Gold ETFs would be held by you in the electronic form. Go for them, as you can easily sell them when the need arises. Easy and good to buy and hold.

Where to buy gold In Bangalore?

Gold prices in Bangalore have seen a great run through the year, thanks to a rally in gold prices in the international market. There are a number of places where you can buy gold in Bangalore. You have the MG Road, where there are a number of jeweler shops.

Apart from that you have Bhima Jewellers, R R Gold Palace at Jayanagar. You also have a number of gold shops including Jos Alukkas on Dickenson Road. In fact, you have a number of Tanishq chains as well spread across the city.

You can also buy gold jewelery online, which could be relatively cheaper than visiting the gold shop. However, you need to assure yourself that the item your buying has the highest level of purity, so that you are not duped. There is no way you can check hallmarked gold online, unless you reallly buy it from a reputed jeweler.

No much momentum for gold likely in 2017

It has been a great year for gold prices in 2016. Gold rates in Bangalore have had a remarkable run since Jan 2016. In fact, gold rates were seeing a tremendous upward momentum in June and July 2016.

There was a slight decline of the precious metal in November 2016, as hopes were raised of a sharp rise in interest rates. We believe that gold prices would be headed lower in the next year and the stupendous returns of the last few years, would not be forthcoming. In fact, we believe that gold prices could start the year closer to the Rs 28,000 levels.

The good run of gold may not continue too much into the future. In fact, gold prices in Bangalore could be clearly headed lower. We have already seen international prices drop to $1177 and there could be a further downside risk to prices. So, look before you buy in large quantities. A lot depends on how international prices of gold behave in the next few months, as also interest rates in the United States.

Buying gold ETFs in Bangalore

Among the many ways to buy gold in Bangalore is also through the ETF route. ETFs are popularly known as gold ETFs. They track gold prices and when gold prices go higher or lower, they tend to move in tandem with them. Most of the top mutual funds in India have come up with a Gold ETF. The biggest is the Goldman Sachs Gold BES Etf, while other big ones are SBI Gold ETF, Axis Gold ETF, HDFC Gold ETF etc. Most of these gold ETFs tend to give similar returns to investors as they track the prices of gold. In fact, buying gold ETFs maybe slightly cheaper then buying gold in the physical form, where there is also a huge difference between the buying and selling margin. So, if you are looking at the many options of buying gold, one of the best would be gold ETFs. This is an excellent bet for those who are planning their long term investments in India.

The problems of investing in gold in Bangalore

Gold does not tend to yield the best returns in the short trem and there are plenty of reasons for the same. Let us given an example. Say, you go ahead and invest systematically in gold coins. Now, the problem is that everytime you buy a gold coin, you end-up paying taxes on the same, which can vary from 10-15 per cent. What this means is that you have to now recover the cost of that taxes to make some money on gold. What this means is that even if you take a decent returns of 8 per cent, gold prices must rally as much as 22 per cent for you take make -up those losses. That may never happen in one year and hence your holding time frame has to be large for you to really make some money on gold. The longer you hold the more returns you can make on the same.

What is the meaning of 916 hallmarked gold?

Todays gold rates in Bangalore largely depend on the type of purity. What individuals often look at is 916 hallmarked gold. This is normally nothing but gold of 22 karats purity. Individuals who are purchasing gold or buying the same for investing need to look at either 22 karats or 24 karats gold and that too with hallmarking. The onus for hallmarking is with the Bureau Of Indian Standards, more popularly known as BIS. The concept of hallmarking gold jewellery began in 2000. Since then all Indian are assured of hallmarked jewelery in India. Thought it is not compulsory to buy hallmarked gold, there have been instances, where there has been some duplication. This has led to authorities regularly checking and implementing controls over the same. There are essaying centres where you can find this checking done.

Nice places to shop for gold

If you are looking to invest or even buy gold in the city, there are a host of places to do so in Bangalore. Among these include several shops at Dickenson Road. Unlike, Mumbai where there is a heavy concentration of shops at the Charni Road, the shops in the city of Bangalore are more scattered. If you are looking to buy gold you find shops at Jayanagar, Chickpet and also most other places in the city. However, the best place to buy the precious metal would be anywhere you get the best rates. In fact, gold rates, will not change, what will differ though is the making charges. If you have been a regular with your jeweller the chances of getting some discount in the making charges is extremely bright. You need to bargain and only bargain, if you want better rates.

What causes Bangalore gold demand to fall?

It has not been a very good year for gold demand, though prices in the city have kept pace. Demand this year has fallen across categories, which includes gold jewellery and gold which is used for industry. According to statistics from the World Gold Council, there has been a lower demand across various categories. This may also have led to lower demand for the precious metal in the city of Bangalore. Will there be a good rally in prices and demand in Bengaluru for the precious metal is always difficult to predict. For example, much would depend on the prices of gold in Bengaluru. When prices fall, individuals tend to buy more of the precious metal. On the other hand when gold rallies investors tend to stay away and this could lead to a fall in demand. This maybe one reason why we are seeing lesser demand for gold in Bangalore in the last few months.

Should you take a gold loan in Bangalore?

There are many companies that provide you a gold loan. Among these include the banks and specialized gold loan companies like Muthoot Finance and Mannapuram Finance. If you are planning to take a gold loan, you should compare the same with personal loans. Sometimes, personal loans offer you a better interest rates. However, for personal loans, you need to have a good credit rating. In the case of gold loans, you do not need a credit rating, and the loan is instant. In fact, the gold loan company is not bothered about a default as they will sell the pledged gold that they have with them. So, in case you are planning to take a gold loan, make sure that you pay back the amount of loan taken or else you would have your family jewels sold. Also, these gold loan companies tend to store your gold safely so there are no worries as such. They are also generally not damaged and there have been no complaints in the past.

How to convert Karats?

If anybody tells you that this is 24 karats, how would you the purity of the precious metal. It is simple method of calculation. For example, how to know how much content 18 karats gold would be or how pure would it be. The answer is simple. You take 18 and divide by 24 and multiply the same number by 100. So, when you do that you get 75. So, in short 18 karats is 75 er cent pure, which means it has 75 per cent gold content and the remaining content is of alloy. Similarly, you can do a test for 14 karats and 10 karats. Of course we do not get that low purity in India, but, you do have these available abroad.

22 Karats vs 24 karts vs 18 karats in Bangalore

Choosing between 22 karats, 24 karats and 18 karats gold is not always easy in Bangalore. If you are looking to buy gold jewellery, the ideal way would be through 22 karats gold. You cannot make gold jewellery through 24 karats gold, because it will break. While 18 karats is also in vogue, as the purity is lower, you get lesser price for the same when you sell the same. The demand is always high for 22 karats gold jewellery and it is also easier to sell the same. So, when you buy the same keep in mind the ability to sell the same. If you have lesser amount and a smaller budget it is best to stay invested in 18 karats gold. However, as we mentioned earlier there is not too much demand for the metal and you may end-up selling the same at substantially lower rates. If you are buying 24 karats, the best option would be to buy gold coins and bars.

Gold schemes in Bangalore

You can buy gold through a number of gold schemes in Bangalore. This include famous jewelers like Bhima and GRT. These days the schemes have been altered by most jewelers in the city, following a drop in the interest rates. You have to now go beyond the 10 and 11 month schemes that we were paying earlier. You can get some discount on the marking charges, when you buy gold. However, do not expect too many other freebies. Gold prices in Bangalore are unlikely to change, and the scheme can lock money on the day you invest in the scheme. What this means is that if you pay your installment when gold prices were at say for example Rs 28,000. The money gets locked-in at those levels. This does not make much sense, if prices are falling, because you would tend to lose money. However, if gold prices rise, you tend to make money.

22 karats or 24 karats: Which to buy?

You have a choice of 22 karats or 24 karats gold that you can buy when it comes to gold. One this is clear and that is if you are buying gold jewellery it needs to be in 22 karats gold. On the other hand, if you are buying 24 karats gold, go for the easily saleable gold coins and biscuits. We say this because gold coins and biscuits are easy to sell, as compared to ornaments, which there is a loss on melting. Apart from this the money spent on making of gold jewellery is also wasted. So overall, there is a terrific wastage of the product. One fails to understand why investors choose to invest in jewellery in the city of Bangalore. If you want to, go straight away for biscuits where you would not waste too much money on wastage and making charges.

Taxation of gold in Bangalore

If you buy gold in Bangalore, you are subject to all the applicable taxes from time to time. Remember, the metal does not derive any income like dividends and hence the tax payable is more like capital gains tax. So if you buy gold and then sell the metal you can make gains or profits, which are subject to taxes in the country. Now, you should also know that there could be a wealth tax that one needs to pay if you have own gold jewellery beyond a certain amount. How much you pay really depends on the amount of gold that you have. If you have amounts in excess of Rs 30 lakhs, one per cent of the value of that has to be paid in taxes. Remember, that you have to declare the same or your gold can even be seized by the authorities. Not many people are aware of this and they have to be told about the same.

What are the different karat options for buying gold in Bangalore?

Investors or consumers have plenty of choices for buying different karat options in Bangalore. But, does a layman actually know what karat means? It means nothing but the amount of purity that gold undergoes over a period of time. What that also means is that how much of the content of your gold is mixed with various metals. The purest form of gold if you are looking to buy is 24 karats in Bangalore. However, you cannot make jewellery using such high levels of purity. You can opt for 22 karats gold, which is the preferred way to make gold jewellery. In this you have a 11:1 mixture between gold and alloy. This is also called 91.6 per cent pure and is the most sought after purity in India. You also have 18 karat gold which also has its own set of buyers in Bangalore and Karnataka. For example, 18 karat has 3 times more gold then precious metal. So, the purity levels is 75 per cent. One also has choice of 14 karats and 8 karats gold which are not popular in Bangalore.

A fall in demand in Bangalore

If you thought that Bangalore would buck the trend for a falling demand for gold, you are making a mistake. Gold prices in Bangalore have been on a high and this almost always corresponds with a fall in demand. If you have been looking to buy gold in Bangalore at low prices, now could well be the time. Prices have now fallen near the Rs 27,000 mark, which makes buying gold a great deal in the city. However, there are a few things that you must do before buying gold in Bangalore. One is to make sure that you have checked for the purity and if you get hallmarked 916 gold in Bangalore there is nothing like it. In fact, we suggest that you always should look for 916 hallmarked gold rates in India only. Do not forget to visit our website to check for the live gold rates in Bangalore city.

Problems with  essayed gold in India

A recent study by the World Gold Council has found tht only 30 per cent of the gold jewelry in Indis is hallmarked. What this means is that there is still a very wide scope for impurities on jewelry, particularly with regards to areas where there are no Bureau of Indian Standards Essaying centre to hallmark gold jewelry. Now, there is also a potential to increase the gold exports from India if the country is able to get hallmarking done very successfully. The problem right now is that there are not many essaying centres and hence you can still end-up having impurities in your gold and a 22 karat gold ornament may not be exactly the 22 karats purity that you wold like to have. The other problem that the government faces is that there is still lack of awareness aong consumers to use only hallmarked jewelry.

Importance of tracking live gold prices Bangalore

 It is extremely important to track live gold prices in Bangalore, if you are buying large quantities of gold. This is because if you are buying large quantities of gold, a slight variation in prices, means a lot. So, it is extremely important to look at live prices. The best way to track gold prices live in Bangalore is to keep an eye on the futures rate of gold. These offer you current prices and you can take a decison based on the prices. If you are looking to buy in the spot market, we have updated gold prices on the website. Also, look at the purity of gold before you buy. 22 karats gold and 24 karats gold have prices that tend to differ. One also gets 18 karats gold, which is available at lower costs. If you are looking to buy gold coins and bars, your best  bet would be 24 karats gold. Jewelry does not come in 24 karats as the metal is very brittle and tends to snap when converted to ornaments.

Looking to sell gold in Bangalore? Try this place

We often end-up with gold that we do not use or is pretty much useless to us. In such cases it better to sell the gold or the jewelry that you have. If you have coins it is easy, because any jeweler will purchase the same. However, it ay be difficult to sell gold in Bangalore, if you do not have a receipt. There are some place like Attica Gold company which can buy your old scrapped gold. In case you have an emergency, you can also encash your old gold. They neither deduct any making charges nor do they melt your gold, which is a good way of surrendering gold. If you are looking to sell gold in Bangalore, Atttica would not be a bad place, as the company has branches in many places. The company also has branches in several other states of India like Andhra Pradesh, Tamil Nadu etc. However, you should sell gold only if there is an emergency and not otherwise. It is extremely important to bring an ID proof along before you plan to sell your gold.

Gold and inflation

 During the times of inflation and financial instability gold is the best asset to invest in, as it cannot be faked and acts as a fence for inflation or deflation.

As of now demonetization and the victory of Republican Donald Trump in the US Presidential election had a good hit on themarket and there were fluctuations in the market due to these reasons.

If we see the statistics from past the 16 years, global performance of gold is very good when compared to other asset types such as real estate.

Even the countries which imports and exports gold will also have an affect on their currency. Normally, if a country imports goods more than it exports their currency value will weaken and this will lead to higher gold prices. On the other hand if it imports gold then its currency value will become strong and will get more stronger as gold rates are increased.

Quality inspection before buying gold In Bangalore

Before buying gold in Bangalore, you should focus on the quality. While a few decades ago, you could easily be swindled before buying gold, today that is no longer the case. You can today check for quality before purchasing gold.

In fact, most of the gold today is hallmarked. One good advantage of buying gold in Bangalore, is that you have well established shops here. So, you do not have to worry too much about quality. Nevertheless, you can do your own inspection before buying gold. If you know the mechanism to check gold for purity, you can do it yourself.

Myriad choices to buy gold In Bangalore

You can buy gold in several forms in India.  If you are looking to invest, we suggest that you look at gold rates in Bangalore first and only then buy. Gold ETFs are a good indirect way of investing in gold. In fact, Indian investors rarely look at this form of investment, though it is very advantageous.

For example, Gold ETFs do not require storage, nor is there a possibility of theft. This is because Gold ETFs are available in the electronic form. You can consider this option. It is a good smart option to invest. There are the other various traditional ways of investing in gold in Bangalore, including gold biscuits and gold coins and bars. The goverment recently launched the gold monetization scheme to ensure that investors are discouraged from buying gold. This has led to interest also being offered on the sovereign gold bonds. One can buy these bonds from the nearest centres.

Bangalore gold rates in 2017 and beyond

Gold rates in Bangalore are unlikely to go up swiftly in the near future. We believe, that gold prices in Bengaluru could fact decline in the coming few years. This is because, there is a high possibility that interest rates in the US could be hiked. When such a move happens, it could push prices of the precious metal lower. However, Bengaluru gold rates would aso depend on how the rupee behaves against the US dollar. Should the currency see some adverse movement, we could have gold heading lower in Bangalore. While we believe that 2017 may not be a good year to make returns from gold, it is a good idea to stay diversified in the precious metal. This is because investment in gold has always yielded good returns and we believe that the same trend may be noticed in the nect 2-3 years.

Checking for purity of gold in Bangalore

To begin with compare and check gold rates in Bangalore. After this we suggest that you look for purity and quality. The first thing to do is to look for the triangular stamp of the Bureau of Indian Standards. This is an assurance on the quality of the gold that you are buying.

Apart from this look carefully and you would also see the year that is stamped on the same. This is not a straight foward year that is mentioned, but, a code that is decided by the Bureau of Indian Standards.

If you are not going to be buying hallmarked gold in Bangalore/Bengaluru, you are probably going to be fooled. If you are looking to buy gold coins, we suggest that you buy the same from some of the banks. Some of them have well sealed and Swiss made gold coins.

Purchasing hallmarked gold in Bangalore

It is important to purchase only hallmarked gold, when you are buying gold in Bangalore. This is because the chances of you getting duped when buying gold is almost zero. The Bureau of Indian Standards or more popularly BIS is assigned with the task of hallmarking gold in India. So, before you buy hallmarked gold in Bangalore, look for a number of things including the logo of the BIS. Apart from the logo of BIS you would have the name or the logo of the jeweler. You would also have the date of manufacture of the gold. The other important thing to remember is that you should also take the receipt of the gold that you purchase. This would help in the future if you want to sell the gold jewelery. Actually, it makes very little sense to sell jewelery because you lose on making charges. Hallmarked gold of 916 purity is the most popular set of gold that you would normally buy. Hallmarked gold is nothing but gold of 22 karats purity. You can also buy gold of 22 and 24 karats, which is normally available in gold bars and gold bisuits.

Buying gold in Bangalore? Try small quantities

If you are looking to buy gold in Bangalore, we suggest that you look to invest in small quantities. This is because, it would help to average the cost of gold. Let us give you an example. Say, you want to buy gold worth Rs 2 lakhs. It makes sense to buy in small quantities, as if the price falls, you can buy at lower rates. Of course, you tend to lose if gold prices go higher. The ideal way would be to buy say 10 grams of gold each time. Also, if you are looking to invest, try the Gold ETFs as they are more liquid and can be sold very easily. Talk to your stock broker, who could guide you on ways to buy the gold etd. In fact, the procedure is the same like buying equity shares. What we recommend is that the prices of gold at the moment are rather high. So, use a strategy of buying gold on dips.

 

Buying gold through the Gold Sovereign Bond Scheme

Those in Bangalore, can also buying gold through the newly introduced Gold Sovereign Bond Scheme. There was plenty of gold lying idle in the bank lockers. The government hence decided to offer bonds in place of these gold schemes. They earn you an interest rate of 2.75 per cent. This is good to curb the use of gold and to reduce the imports.

There is also an Ashoka Chakra gold coin that is available in 5 and 10 grammes, where you can buy these gold coins in Bangalore.

There is nothing to worry on the purity of the same.

Gold price trend in Bangalore

Bangalore has been witnessing an uptrend in Gold prices over the last one year. It is likely that we may see some drop in the prices of gold in Bangalore, given the shap movement. Those looking to buy gold in Bangalore could wait for sometime. It is likely that we may see a drop, before any rally, at which time it would be a good proposition to buy gold all over again.

Wait for dips benfore buying into the precious metal.

 What type of gold to buy in Bangalore?

There are various types of gold, including physical gold, ETFs and gold bonds that you can invest in. We strongly suggest that you buy gold ETFs, which are traded on the stock exchanges in India, if you really want to buy gold. Why do you really need to buy and worry about storage and other things?

There are a number of reasons apart from storage worries that you need to buy Gold ETFs. There is no need to worry about your gold being stolen, as gold ETFs are held in demat form. In fact gold ETFs today are the most popular form of gold investments.

The other things is that this gold instrument is also very liquid. So, if you want to sell, you are unlikely to have a big problem. There is one rate and you do not have to go searching to find the best goldsmith, that would give you the best gold rates.

The other advantage is that you can sell the gold anytime and at any place, which is another big plus for you. So, do buy Gold ETFs in Bangalore.

Rising interest rates vis a vis gold

The next biggest problem for gold prices in Bangalore would be the rising interest. There are worries that there would be an increase in rates in the United States, which could lead to a firm US dollar. Each time we see a strong dollar, gold prices tend to fall. So, watch for the prices of gold with regards to a rise in interest rates. In India and in particular Bangalore, rising interest rates do not have any impact on gold prices. We believe that this could have an impact in the more short term on gold prices. In any case, do not buy lumpsum amounts in gold as there could be a possibility of a drop in prices.

 Understanding Karats Before Buying Gold

You can buy various types of gold in the city of Bengaluru. This includes 22 karats and 24 karats, as well as 18 karats. However, nobody tends to buy the later, because the purity here is very low at around 75 per cent only. Hence, if you are looking to buy gold biscuits and coins, we suggest that you look at 24 karats, while you buy 22 karats, if you are looking to buy gold jewelry. As mentioned earlier always look at the possibility of buying hallmarked gold in Bangalore. This is because these days, there is a greater chance of getting duped, when buying into the precious metal. It is always better to look at the hallmark of the eassying centres. The Bureau of Indian Standard or BIS has set up many essaying centres in the country, where you get hallmarked gold. There are many things that you need to check, which we have mentioned before.

Does KDM gold jewellery really cause skin allergy?

There are many individuals who complain that KDM gold made with the same jewellery causes skin allergy. This may nor be truth however, as it is not possible. There are some who complain that white gold causes skin allergy. It is always so very difficult to understand these things. It may be noted that to make white jewellery, one does not use the same combination of copper and gold. There is no single metal that goes in the manufacture of white gold. There are various permutations and combinations that would go in the making of white gold. Nickel, palladium, and silver are used in making of white gold. So, in case even one of these causes allergy, then we cannot say that gold has caused the skin allergy. It may well be a case of the allergy being caused by the other metals, which are used in a combination.

A healthy trend for gold

Gold is seeing a healthy trend and prices have begun to firm up. The trend was not bad in 2016, as well, but prior to that the three years, did not see any gains for the precious metal. So, in the last five years or so, it has been a flat to negative trend for gold. However, if you observe the last 10 years or so, gold have returns largely on account of the sub prime mortgage crisis that took place in the United States. If we are coming back to winning ways it would be good. However, if it is just a temporary aberration to prices, we would be back to levels of poor returns for gold. But, what can be said with some certainty is that demand has taken a hit in the last few years, as various countries including India have discouraged gold consumption. This has led to a frequent fall in the price of the precious metal. However, if you want to diversify your asset there is no better place to buy the precious metal, as it is has proved to be a succout during times of refuge.

How do gold traders in Bangalore assume future gold prices?

There is no way one can tell how the gold rates in Banglore is going to change. The increase and decrease can be due to a lot of reasons. Still investors always keep on eye on few parameters to assume gold rates in Bangalore.

1. Following the news related to Gold

Every day there will be some or other news related to gold such as sometimes gold prices goes down due to strong US dollar and some times due to global cues. There will be some change in gold rates in Bangalore on this basis. One can follow this kind of news on goodreturns.in which will be giving perfect and accurate change in gold rates in Bangalore and the reasons behind the change.

2. Following prices of other precious metals such as silver.

There will be some relation between other precious metals rates due to which the gold rates in Bangalore also gets affected. So they follow silver rates in Banglaore as well everyday. Silver rates in Bangalore is also availble on goodreturns.in. Not only in Bangalore to assume future gold rates it is important to follow silver rates all around India.

3. Exchange rates of Rupee (INR) with other currencies

There will be up and down's in rupee rates as well, which affects the gold rates in Bangalore because the exchange rates of rupee with other currencies show much affect on imports and exports we do. So the exchange rate of rupee with other currencies plays a major role in changes in gold rates in Bangalore.

Is investing in gold is better than investing in mutual funds?

For people in Bangalore, there are a number of investment options in which includes gold and mutual Funds. Every investor should understand the fact that all most every investment has subjected market risk. So before investing should prepare yourself for risk tolerance and investment horizon.

Before investing, one needs to understand how they will work.

Mutual funds
Mutual funds are schemes launched by companies which receive money from a number of investors and invest in different stocks, securities, and bonds. There will be an objective for the scheme depending on that objective they will select stocks securities and bonds. To select these stocks, securties, and bonds there will be a funding manager who will be following and managing portfolios.

Mutual funds are subjected completely to market risk securities and it completely depends on how you are going to select the mutal fund.

Few investors go with mutual funds depending and trusting fund manager managing the fund and few go with the objective of the mutual fund.

Depending on the investor's objective there are many kinds of funds such as equity mutual funds, equity linked saving scheme (ELSS), liquid funds, index funds, balance funds, debt funds etc.

Gold
Investing in Gold is not so complicated as much as investing in mutual funds. By following global news and few other parameters one can get a rough idea how the gold rates in Bangalore will move and can invest accordingly.

Above all this, it is up to the requirement and planning of the investor. He can invest in either gold or mutual fund.

Why do gold prices in Bangalore different from other cities in India?

In India, there are different local tarrifs for gold in different localities. Some Individuals think that they are set in the top port cities like Mumbai, Chennai, and Kolkata, which helps too reduce prices as transport costs reduce. They have an assumption that as these are port areas and they import so they are going to see gold prices in India. That isn't true.

There will be a different gold jewelers association in every single city. These associations set gold rates in their respective city. Same thing happens in Bangalore. Bangalore has a gold association which sets gold rates in Bangalore every day.

The members of this association will be the top jewelers in the city and other officials. They set gold rates in Bangalore every day which you can check on good returns.in

They set gold rates in Bangalore by considering few parameters because of those parameters the gold rates from city to city change. There are few duties and local tariffs due to which prices of gold in Bangalore is different from other cities.

When tariffs and duties are raised by the government, there will be chances that the price of gold in Bangalore will go higher and vice versa. In order to curb excessive consumption of this precious metal in the past the government has raised the duties on it.

There will be few other duties such as transportation duties which every city have different charges, even this effect. Also there are some local tariffs which affect gold rates in Bangalore. There will be a change in gold rates from city to city but the variation is not so big.

What do I need to know when I am buying gold jewelry for the first time in Bangalore?

Its better to have knowledge about the thing before you start spending money on it. When it comes to precious things such as gold its better to have a very clear idea. As you will be spending a lot of money over that. Here are things you should be checking, before buying gold in Bangalore.

1) First thing come is purity. In Bangalore most commonly sold jewelry is 22 karats gold jewelry. So first you should have in mind is what is the gold rate in Bangalore on that day. As the gold rates in Bangalore will be changing every day, better to rely on a website which gives gold rates in Bangalore accurately such as goodreturns.in

2) It is very important to check for BIS hallmark on the jewelry you are buying. If you are buying gold jewellery for the first time you must know that BIS hallmark is given by the government of India certifying that the gold is as pure as the karats mentioned on it.

3) There will be something called making charges and wastage charges for the gold jewelry. This is charged by every jeweler. It is better you ask the jeweler even you can check it on the bill. Note the making or wastage charges will be same for all jewelry. Before you do the paymet, please ensure that you now how much has been charged by the jeweller.

5) As you are making an expensive transaction, so it is better to ensure that the gold jewelry you are buying is unique and timeless!

Why gold rates in Bangalore keep on rising when the stock market falls?

Gold is an investment option to Bangalore investors when all other option falls. Whenever the stock market falls, individuals in Bangalore start pulling their money out of the stock market. Few Investors go for fixed deposits and most of the investors go for commodities like silver and gold.

The reason behind this is investors in Bangalore search for a safe option in the time of crisis. Many times gold has proven it.

This happens not only in Bangalore but all over the world. That's the main reason why a lot of investors in Bangalore who follows stock market is also following gold rates.


The value of gold will not go down below a certain point, this makes gold a safe investment. The demand for gold is always high. But when it comes to stock market, the value of stocks may rise or falls depending on other factors.

This can be explained by using a simple example. During Brexit when referendum results were out, there was turmoil in the market. Investors started pulling money out from stocks and started investing in gold. As a result, the gold price rose to two-years high and when things become normal, investors pull their invested money on gold and started investing in stocks again. In uncertain situations, investors are preferring gold.

Gold Mining companies in Karnataka

There are two gold mine companies in karnataka and they are
1) Hatti Gold Mines
2) Kolar Gold Fields

1) Hatti Gold Mines
Hutti gold mine is situated in Raichur district of Karnataka State. This mine is probably one of the oldest metal mines in the world. The miners have worked down to a depth of over 2300 feet. Hatti Gold mines company was originally formed in 1947 with the name of Hyderabad Gold mines Company Ltd. At that time Raichur was a part of Hyderabad State and the state government was holding the majority of the shares. After the re-organisation of the states in 1956, the Company was transferred to Mysore State which is part of Karnataka State now. Also, this gold mining company is renamed as Hatti Gold Mines Limited.

The company was closed in 1920 due to some technical difficulties and lack of funds. In 1937, when the Nizam’s Government planned to re-open the mines as to provide employment, from 1942 to 1946 the mines were closed due to World War II. After the end of the war, the scheme was resumed. The production in 1948 was at a rate of 130 tonns of ore per day. But with in 20 years by 1972 this rate had progressively increased to 600 tonnes of ore per day.

2) Kolar Gold Fields

KGF or Kolar Gold Fields is a mining town in Bangarpet Taluk, which is situated in the Kolar District of Karnataka. The town was well known for gold mining for more than a century. It was closed in 2001 due to falling in the level of gold production. An British mining firm, John Taylor & Sons in 1880, started the systematic mining for gold. This is the second deepest underground mine in the world with a depth of 3200 mts. These mines were taken over by the Government of mysore in 1956. Within six years this mine is took over by the Government of India in 1962.

Can Gold Act as an insurance in Banglore?

No gold cannot act as Insurance in Long Run. But there are few schemes where gold can earn great benefits for individuals investing in it. First is to understand this we need to have some clear picture about how Insurance works and how this scheme is similar to insurance.

Normally, an Insurance policy is a financial contract between the policyholder and the insurance company. In the contract, the Insurance company agrees to pay to the policyholder in the event that the person or property insured suffers a type of loss named in the policy. There will be a term plan for policy so protection remains in force only upto the time mentioned in agreement typically six months or a year. After which policyholder need to renew the policy in order to continue the coverage.

In return for coverage, Policyholder has to pay the insurer a specified amount, called the "premium." These Premiums are typically paid in monthly installments or there are few where one can pay premium in regular intervals or even once during the renewal.

There are few schemes provided by few famous jewelers in banglore where one need to pay installments like premiums. These schemes will not provide any cover to any of you asset but the method of payments is similar to premium payments.

This scheme will be like If one want to buy 10 grams 24 karat gold coin and the market rate of the gold coin is Rs 30000. The buyer has to pay 2000 every month for the tenure of one year and at the time of the last installment, he can buy a coin regardless of the market price.

The above-given offers will not be that may vary jeweler to jeweler even the price of gold will not be same as given above. Gold rates in Bangalore will be changing every day. So if one is interested in buying such schemes better to visit goodreturn.in and check gold price in Banglore.

 

Latest Updates on Bangalore Gold Rates

Flat trade for gold in Bangalore

Gold rates in Bangalore are slated to open flat in trade, as investors digest a lot of negative data. Firstly, gold which hit three month high in the international markets fell-off a great deal. Uncertainty across the globe, especially political uncertainty weighed on the minds of investors. Gold for 22 karats was last seen trading at Rs 28,100 per 10 grams. The precious metal managed to stay above the crucial Rs 28,000 levels. Technical analysts in Bangalore city say that if the metal holds for a few days around the Rs 28,000 levels it could surge and hit new highs. However, it is important to note that technicals do not always come true. The one thing that can hold an investor in good steady is his ability to hold onto the metal for a long time. However, in the case of gold, it is always difficult to determine, how long is really good. Sometimes you may want gold to sell even with a slight bit of appreciation, while others want to cling onto gold and hold it for a lifetime. One cannot be sure of the likely returns and the risk reward ratio of investing in gold. The question that often arises in the end is: will I make money. That is a question that is always so difficult to answer and is fraught with risks.

9 February 2017
Gold prices in Bangalore to be steady

Gold prices in Bangalore are set to open higher, as investors buy into the precious metal globally. It is strange that normally gold prices in Bangalore tend to fall, when the US jobs data is strong. However, this data led to a string dollar and declining prices across the globe. Expect gold prices in Bangalore to be around the Rs 28,000 mark for 22 karats. It has now breached two crucial technical levels of Rs 26,800 and Rs 27,920 on the upside technical analysts feel. The metal is also now trading above its 30 day moving average. Hence, it is doubtful that we may see prices falling below these support levels of Rs 26,820. The other factor that has led to gold being steady in Bangalore is the remarkable resilience shown by the rupee against the US dollar. It is important to note that when gold prices rise, it could also be because the rupee has fallen against the US dollar. Of course, another factor could be the rise of prices in the international markets, which tends to affect prices of gold in Bangalore. However, the city has also seen some subdued demand when prices are rising. Gold prices and demand maybe inversely related. If there is a sharp rally in gold prices, the precious metal tends to fall in demand and when demand drops there could be a rise in the prices. However, at all times it is important to keep an eye on the price of the precious metal, for a bargain buy. If you are looking at levels to buy gold in Bangalore, we suggest that you keep an eye on the levels of Rs 27,000 as this could be a crucial support levels. In any fall beyond these levels, would be an excellent opportunity to target levels of Rs 29,927 in the next few months in the city.

6 February 2017
Gold prices in Bangalore on Feb 3 to open higher

Gold prices in Bangalore are set to stabilize and open marginally higher on Feb 3, 2017. This is because investors are eyeing a more positive approach to gold this year since the start of the year. Gold prices in Bangalore in particular have yielded very good returns in 2017 and we believe that it maybe foolhardy the trend may not continue into the future. Gold for 22 karats in Bangalore city has now pierced the Rs 28,000 mark with ease. Interestingly, there was also buying seen in the international markets, which also helped to push the domestic prices of the precious metal higher. Bangalore may see a lot of buying interest in the days to come. Now, take a look at how gold prices have moved since the start of the year 2017 in Bangalore. We began with gold rates hovering around the Rs 26,900 levels, but, soon surged and crossed the Rs 28,000 this year. Thus at a time when no asset class is giving good returns, gold is managing to buck that trend. We may see that for some more time the trend of higher prices for gold in Bangalore continuing. There are also reasons for that belief. The first and the most obvious one is that the U Federal Reserve will not increase interest rates in the US very aggressively. This would lend good support to gold prices, which should move higher in the days to come. So, watch out for gold prices in Bangalore.

3 February 2017
Gold rates in Bangalore will open lower

 Gold rates in Bangalore is slated to open lower in the spot market, as investors digest a slew of data that shows how prices have moved in the last few days. Gold for 22 and 24 karats in Bangalore have seen a jump start after stagnating for several weeks. We are seeing some action in the precious metal, only after the US elections, which first resulted in gold prices gaining and then again falling, only to gain ground all over again. This has led to immense volatility in the precious metal that we have not seen in the last many years. Gold prices in Bangalore has also been a part of that volatility given the fact that prices in the city move based on the tempo seen in the international markets. Gold for both 22 karats and 24 karats were trading higher in the city of Bangalore. Nobody these days is trying to predict the movement of gold prices and it is likely that they will move with immense volatility. However, if you are a buyer in the precious metal, it is best to wait for some more time, till we get better prices. Gold prices for the entire week in Bangalore may trend lower.

29 January 2017
Staying steady

The week is likely to begin on a more robust note for gold prices in Bangalore, following the swearing-in of US President Donald Trump as the 45th President of the United States. Initially, there was some selling pressure that was witnessed, but, now there could be fresh buying in the metal. Bangalore has always seen a good demand for the precious metal. However, after the de-monetization that are investors who feel that there is a slowing in demand for the precious metal. Gold prices have been on a constant decline in the last few months and this has led to good demand at lower prices. Recently, the figures that maybe revealed for the first quarter of 2017, may show lower demand across the board for gold. Silver too has seen a subdued demand and there maybe more bad news for the precious metal going ahead.

22 January 2017
Bangalore rates see dull movement

Gold rates in the city of Bangalore have been dull in the last few days though there has been some adverse movement in the last few days. Overall, it has been a good week and gold rates in the city have been higher for most of the days. 22 karats gold was seen trading at Rs 27,200 per 10 grams, while 24 karats was also trading higher. It is likely that we will see both move in tandem in the coming days. Buy when the chips are down would be a good move as far as gold in the city are concerned. It would be interesting to watch gold rates in bangalore on Jan 17, 2017.

16 January 2017
Nice places to shop for gold

If you are looking to invest or even buy gold in the city, there are a host of places to do so in Bangalore. Among these include several shops at Dickenson Road. Unlike, Mumbai where there is a heavy concentration of shops at the Charni Road, the shops in the city of Bangalore are more scattered. If you are looking to buy gold you find shops at Jayanagar, Chickpet and also most other places in the city. However, the best place to buy the precious metal would be anywhere you get the best rates. In fact, gold rates, will not change, what will differ though is the making charges. If you have been a regular with your jeweller the chances of getting some discount in the making charges is extremely bright. You need to bargain and only bargain, if you want better rates.

16 January 2017
A good up move on January 12, 2017

Bangalore gold rates today saw a good uptrend, as prices turned firm all over again. This was a second day in a row that we were seeing a good healthy trend in gold. If the prices of the precious metal sustain over these levels, we may see a fresh up move in prices. Technically, the precious metal seems to have been in an over sold zone in December. Bangalore has seen a good rally in gold prices today and the trend may continue. Jewellers are seeing a decent demand for gold in Bengaluru in 2017. Whether the demand will sustain over the long term is difficult to say. One needs to watch and carefully see the movement after a few days. We still believe that gold prices in various cities in India will trade flat in 2017. If one recalls then in the international markets gold gave returns of 9 per cent in 2016. It looks difficult that gold would match those rates.

 

12 January 2017
The trend reversal for gold rates

We are finally seeing some kind of trend reversal in rates for gold prices in Bangalore. This has happened since late December 2016 and the trend is continuing into 2017. If the trend continues, we should see a good traction in gold prices in the coming days in Bangalore. The reversal in trend started soon after the dollar started

9 January 2017
Gold in Bangalore hold ground

Gold in the city of Bangalore held ground, as investors turned their attention to buying in the precious metal in 2017. In fact, the last few days have begun well in 2017, for gold prices in the city, which have seen good buying support. In 2016, gold rates in Bangalore were very steady and gave better returns to investors then in 2016. If you buy into precious gold in gold coins and bars, you can fetch better returns, which is a big positive for the markets. Also, if you are looking to buy gold and other ornaments as investment, we suggest that you refrain from doing so, as it would be a better proposition to buy gold ETFs instead. It is highly likely that we may see good returns in the years to come.

6 January 2017

Disclaimer: The gold rates are sourced from local jewellers in the city. There maybe variance in rates and prices. GoodReturns.in has made every effort to ensure accuracy of information provided; however, Greynium Information Technologies Pvt Ltd, its subsidiaries and associates do not guarantee such accuracy. The rates are for informational purposes only. It is not a solicitation to buy, sell in precious gold. Greynium Information Technologies Pvt Ltd, its subsidiaries, associates do not accept culpability for losses and/or damages arising based on gold information provided.