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Gold Rate in Bangalore (10th August 2022)

Aug 10, 2022
4,800 /Gram(22ct) 40

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 price in Bangalore.

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

Gram 22 Carat Gold
22 Carat Gold
Daily Price Change
1 gram 4,800 4,760 40
8 gram 38,400 38,080 320
10 gram 48,000 47,600 400
100 gram 4,80,000 4,76,000 4,000

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

Gram 24 Carat Gold
24 Carat Gold
Daily Price Change
1 gram 5,236 5,193 43
8 gram 41,888 41,544 344
10 gram 52,360 51,930 430
100 gram 5,23,600 5,19,300 4,300

* The above gold rates are indicative and do not include GST, TCS and other levies. For the exact rates contact your local jeweller.

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

Date 22 Carat 24 Carat
Aug 9, 2022 48,000 400 52,360 430
Aug 8, 2022 47,600 0 51,930 0
Aug 7, 2022 47,600 0 51,930 0
Aug 6, 2022 47,600 -100 51,930 -110
Aug 5, 2022 47,700 150 52,040 160
Aug 4, 2022 47,550 350 51,880 390
Aug 3, 2022 47,200 -200 51,490 -220
Aug 2, 2022 47,400 250 51,710 280
Aug 1, 2022 47,150 -100 51,430 -110
Jul 31, 2022 47,250 0 51,540 0

Weekly & Monthly Graph of Gold Price in Bangalore

Historical Price of Gold Rate in Bangalore

  • Gold Price Movement in Bangalore, July 2022
  • Gold Rates 22 Carat 24 Carat
    1 st July rate Rs.47,900 Rs.52,250
    31st July rate Rs.47,250 Rs.51,540
    Highest rate in July Rs.48,130 on July 2 Rs.52,500 on July 2
    Lowest rate in July Rs.46,070 on July 21 Rs.50,250 on July 21
    Over all performance Falling Falling
    % Change -1.36% -1.36%
  • Gold Price Movement in Bangalore, June 2022
  • Gold Price Movement in Bangalore, May 2022
  • Gold Price Movement in Bangalore, April 2022
  • Gold Price Movement in Bangalore, March 2022
  • Gold Price Movement in Bangalore, February 2022
  • Gold Price Movement in Bangalore, January 2022

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 before buying the precious metal.

How is 916 Gold Rate Today in Bangalore Determined?

This is an often asked question and the answers are that it is very difficult to determine. For example, you have to first study the international trends, which largely determine 916 gold rates in Bangalore. Among these international factors are the interest rate movements and the currency fluctuation, of the US dollar against other currencies.

In India, 916 gold rates are also called 22 karats gold. They are more often then not determined by a host of factors including among other things import duty rates. If import duies go higher, the rates of gold increases and vice versa. So, when government reduces the import tariff, gold rates in Bangalore tend to fall. We wish to state here that there are multiple other factors on which gold rates depend apart from the local tariffs. It may not be possible to highlight all of these. By and large it must be noted that it is time for investors to note that as and when gold prices go lower, it is time to buy and when it goes higher it is time to sell.

However, this is easier said then done and all and in all one needs to track the prices of gold in Bangalore before buying. Gold rates in the city have been highly volatile and it is possible that we might see additional volatility as and when policies across the globe remain volatile. It is only when you buy on declines can you make money from the precious metal. So, in short, 916 gold rates today in Bangalore depend on a host of factors and there is no one factor that really influences prices. If you still lack the expertise you can seek expert advise before you jump into buy the precious metal.

Gold Rate in Bangalore Today

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 really buy it from a reputed jeweler.

Best Place to Buy the Precious Metal in Bangalore

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 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!

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. There is something called an acid test, which you can conduct. 

What is Making Charges on Gold Jewellery?

Apart from checking gold rates in Bangalore, you need to look at making charges as well. Making charge is a charge which is added to the price of the jewelry before arriving at the final sale price. The making charges for an ornament may vary depending upon the type of jewelry a customer is purchasing. It also depends on the fine detailing required while manufacturing the jewelry. The making charges differ from one jeweler to another one in Bangalore. Some jewelers in Bangalore call it as making charges and others will call it as wastage charges. If the finishing of jewelry is man-made, then the making charges will be more as compared to the finishing of jewelry made using a machine.

The rates of the product also differ from one shop to another shop as well as from one city to another city. For example: In Bengaluru, Tanishq is currently charging making charges starting at 8% on the jewelry pieces. Whereas, Kalyan Jewellers do not charge any making charges under the Kalyan Priority scheme. The scheme provides members with an opportunity to get more benefits throughout the year which includes zero percent making charges or no wastage charges for gold, uncut, precious, polki and diamond jewelry.

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

f 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.

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.

Digital Gold: A New Concept in Bangalore

You can buy gold in three forms Physical, Bond and in Digital Form in Bangalore.

The physical form of the gold means the gold you buy at a jeweler shop which you can touch hold and use it. Most of the people who buy physical gold is for their personal usage not as an investment.

We know there will be various charges on the physical gold like making charges, wastages charges, etc. and as an investor, Those extra charges is a loss. So few investors go for the bonds, they will buy gold bonds instead of buying the physical Gold.

Digital gold means gold in the electronic form. When it comes to Digital Gold there are many options such as ETF's, Buying gold on MCX and recently Paytm launched a service where you can buy gold and hold it in your wallet. There is a special advantage with buying gold on Paytm than on MCX. If, you buy gold on the MCX or in the form of ETF's you may need to buy or sell it during trading hours only. When it comes to buying or selling gold on the Paytm, you can do it anytime. Here you can get the beginners guide to buying gold in India.

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. However, you may need some expertise and advise before buying into this metal.

A Healthy Trend for Gold

Gold is seeing a healthy trend and prices have begun to firm up. The trend was not bad in 2017, 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.

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 decision 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. Of course, there are various options like buying white gold, which you may choose, though that is something that you have to decide. Of all the metals, you might get better prices for the yellow metal as compared to the white, though this is neither assured not guaranteed.

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.

Why People in Banglore Buy and Sell Gold Coins?

Individuals in Bangalore buys and sell gold coins for many reasons depending upon the requirement of the individual. Few individuals sell and buy gold coins as an Investment, while a few buy and sell as a safety measure. A few buy gold as an Insurance.

Individuals who buy gold as an investment are mostly investors. Just like stocks they buy gold whenever the gold rates in Bangalore are low, wait until gold rates in Bangalore go high then sell it. They Specifically buy and sell gold coins, not jewelry because. In jewelry there will be various charges such as making charges and wastage charges which the investor will be paying while buying the gold jewellery but he will not get those charges while selling, so it is a loss to the investor. That is the reason investors prefer to buy gold coins than jewellery.

The reason behind individuals buying and selling gold as a safety measure because after a move such as demonetization there is no guarantee for paper currency. So, in future, if such a move happens again., the one who is holding gold coins in the place of paper currency will be hassle free.

The reason behind individuals buying gold as an Insurance is there will be chances of inflation or the rupee rate against the US Dollar may fall or any geo-political tensions etc. Whatever the problem is gold acts as the perfect hedge. So to secure themselves from the crisis, the best option or the perfect insurance is gold. However, do not go overboard and buy every possible quantity at every possible price. Be calculated when buying.

The Problems of Investing in Gold in Bangalore

Gold does not tend to yield the best returns in the short term 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 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.

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 than 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. Abroad, especially in the West we get gold that is of far lesser purity.

22 Karats vs 24 karts vs 18 Karats

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.

22 Karats or 24 Karats: Which to Buy in Bangalore?

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. If you cannot afford biscuits, you also look for gold coins, where you get slightly smaller quantities.

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.

What is the Meaning of 916 Hallmarked Gold?

Today's 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.

Why Central Bank Policy Impacts Gold Rates in Bangalore?

The Central bank of a country provides financial and banking services for the nation and implement the government's monetary policy and issuing currency. Central Banks' monetary policy is the primary driver behind gold prices.

The central bank and its actions play an important role in setting the gold rates. As the banks and gold mining companies have the huge storage of gold as a reserve, they can manipulate the gold prices. Banks can affect the rate when they buy or sell gold in bulk, or the mine owners increase the production or reduce the output of gold. Sometimes the central banks may buy more gold when they find a decrease in their gold reserves against their holding.

When the central policy is announced, and the interest rate is hiked then investors will be receiving more interest by investing in US treasuries as they are also AAA rated and backed by US government.

Gold is considered as the safe heaven in difficult times. When interest rate hike, investors will move money out of gold and park in treasuries. Interest hike in policies will lead to less demand for gold. Then gold prices will be moving down. This will increases demand for US dollar.

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. The Indian central bank's attitude rarely has a consequence on gold prices and hence you need not worry too much of the same. This is because the bigger influencers of gold prices today are some of the biggest gold ETFs in the country. Central banks which once upon a time had a big impact on prices, today have been replaced by some large ETFs, which can change prices with some large scale buying and selling.

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.


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.

Why Gold Rate 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.

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. It is important to remember that there is compliance that is needed when you buy and sell gold in Bangalore, especially the tax compliance.

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. There are largely to major companies that give you gold loans. One of them is Muthoot Finance and the other is Mannapuram Finance. There are also banks that offer you gold loans, though you need to study the gold loan rates that they offer. Do not blindly go into taking loans, if you have not compared the gold loans in India. Of course, one of the most important things when taking a gold loan is the interest rates offered and these days it is around the 12 per cent range.

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.

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.

Sovereign Gold Bonds: How Good are They?

Anything that tracks gold prices is good enough for an investor. Gold bonds are hence no different. You have the option like ETFs as well, but, these are slightly different in the sense that they track gold prices and also give you an interest rate. For example, you get an interest rate of 2.75%, which is not bad at all. So, there is a dual benefit that you could and should consider. Though these bonds are listed on the NSE, one big advantage of them is that they offer you liquidity.

So, if you are in Bangalore and planning to invest, these gold bonds could be ideal. However, the one disadvantage of the gold bonds over the others is that you cannot wear them if you have a marriage or ceremony at home. What this means is that while you can wear physical gold you cannot do the same for marriage. These bonds can be purchased on behalf of a minor and also on behalf of anybody. In case you do not want to sell them through the markets, you can handover the same to the post office or the Stock Holding Corporation of India. The bonds it maybe noted are traded only in the demat form and hence you should have them in the electronic form. This is among the better options to purchase gold and is almost similar to gold ETFs. However, you need to remember that there is a long holding period which is a big negative for gold.

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.

The best part of the Sovereign Gold Bond Scheme is that you get interest rates on the bond. Let us give you an example. Suppose you invest in the bond scheme, you get an interest rate of 2.75 per cent per annum, which is paid every year. There is no interest that you get on any other gold instrument like gold ETFs or also the physical gold. This is one reason why these instruments have an edge over the rest of the instruments in the country and one is advised strongly to invest. You can also buy these instruments and invest in them through the secondary market in India. It must be noted that they are listed on the National Stock Exchange of India, so this is the place you should buy them. If you are a first time buyer, we have listed the steps that you should take before buying them.

Pros and Cons of Sovereign Gold Bond Scheme


  • You can buy a Sovereign Gold Bond Scheme either in paper form or Demat form.
  • Unlike the physical gold, there will be no worry about the security as you can keep it in the electronic form.
  • There will be no extra charges such as making charges
  • There is no need to worry about the purity of the gold you bought, as bonds will be in electronic or paper form.
  • The most important advantage of Sovereign Gold Bond Scheme is Government backs it.
  • For Sovereign Gold Bond Scheme there will be some fixed interest per annum. Though the gold rates in Bangalore drop and won't rise you can hold on to gold as long as you need because you will be getting fixed interest every six months.
  • You can use your Sovereign Gold Bond as collateral for a loan. It will be allowed to trade your Sovereign Gold Bond on exchanges for an early exit.


  • If the Gold prices in Banglore drops after you buy, then there will be a capital loss of investment you did. In case if you are going for a long term plan you will not face such problems.
  • In case, of turning your gold bond into physical, the process is very long and hard. In case if there are any plans of using the gold personally it will be better not to go for the bonds.

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 market, 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. So you need to tread with some caution before you buy into it. Some research of your own is highly warranted in the coming days. A better proposition would be the gold ETFs, which would provide you with an opportunity to buy gold that is more transparent in buying and is less costly.

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.

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 ETFs and the sovereign gold bonds. But, you must buy some of these for sure. The reason why we are suggesting the same is because it is the best way to buy and hold gold. There is no better way that we see at the moment in terms of options. Sovereign gold bonds issued by the government is also fascinating. However, the returns from the same are very poor. It is therefore a good idea to avoid them. The instrument is also far more complicated then it seems. It would also be interesting to study the various taxation applications on the product. These days equity share prices have rallied at a fast and furious pace, which is why we are seeing investors gradually moving towards gold, which has become a lot more cheaper in Bangalore because of a fall in the rupee against the US dollar. These trend are always difficult to predict and hence we should not try and seek levels for gold, just like we do for shares.

Among the many options that are presently available include the likes of gold ETFs and the sovereign gold bonds. But, you must buy some of these for sure. The reason why we are suggesting the same is because it is the best way to buy and hold gold. There is no better way that we see at the moment in terms of options. Sovereign gold bonds issued by the government is also fascinating. However, the returns from the same are very poor. It is therefore a good idea to avoid them. The instrument is also far more complicated then it seems. It would also be interesting to study the various taxation applications on the product. These days equity share prices have rallied at a fast and furious pace, which is why we are seeing investors gradually moving towards gold, which has become a lot more cheaper in Bangalore because of a fall in the rupee against the US dollar. These trend are always difficult to predict and hence we should not try and seek levels for gold, just like we do for shares.

Why Indians Love Gold?

India is rich in culture & tradition all over in the world. Indian women love ornaments. Gold is one among the precious ornaments, which individuals buy for various reasons. People buy gold for a variety of reasons such as for its auspicious sentiment, as an investment. Gold continues to command long term value, a tag for being safe and to have a hedge against inflation, asset allocation, etc. Gold also carries a high perceived value and a high emotional quotient. It reinforces closeness of relationships. Gold coins in smaller denominations are also considered apart for corporate gifting and rewards for contests.

Almost every function(small or big) you see every woman wearing at least one ornament of gold. A famous saying "No gold No marriage." The mount of jewelry worn denotes the prosperity of the family. Gold is a symbol of wealth, and prosperity gold is an investment, safe and secure. It can be made use in times of need and emergency.The value of gold is high anytime, even during recessions. Despite all the possible reasons, gold rates in Bangalore should be checked before buying gold. Despite all the reasons for loving and buying the metal, you cannot buy gold and any price.

Some Interesting Facts on Gold for Bangaloreans

Here are some interesting facts on gold that could be of some use to people buying gold in Bangalore. Gold is extremely soft and just as you knead dough, so you can knead pure gold with your hands. It becomes very hard when you alloy it with certain metals. The astronauts helmet is made of gold and one might ask the reason for the same. This is because it will protect the harmful infrared rays while at the same time allowing sunlight in. It is believed that it would also help to keep the head cool.

Gold prices have been in a range in Bangalore for the last few weeks, since the start of the month and the trend is unlikely to change.

It is highly likely that we might see gold prices in Bangalore remaining steady more than anything else. So, forget the interest facts of Bangalore, just go ahead and buy into the precious metal.

Bangalore's love for gold is as old as the city itself. So, if you are looking to invest, buy on every opportunity.

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. If you feel that prices have now stabilized it would be a good time to make some buying decisions. However, if prices are volatile, you would do well to watch and wait on the sidelines. There is no point in importing gold these days and you are better off, using the local jewellery shop to buy into gold. The quality that we get in the Bangalore shops is excellent and there is no need to look beyond the same.

A Good Start for Gold Prices in Bangalore in 2019

It has been an excellent start for gold prices in Bangalore in 2018. 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 because you are likely to see some selling pressure at higher levels. gold for 22 karats was last trading 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.

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 you 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. Remember, that gold loans is slightly more higher priced then most other loans like home loans and car loans, so be a little cautious when you want to buy into the same. Go for an approach of buying on declines. So, buy at lower rates is a good idea for gold lovers in Bangalore.

No Much Momentum for Gold Likely in 2019

It has been a great year for gold prices in 2017. Gold rates in Bangalore have had a remarkable run since Jan 2017. In fact, gold rates were seeing a tremendous upward momentum in June and July 2017.

There was a slight decline of the precious metal in November 2017, 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.

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 among consumers to use only hallmarked jewelry.

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  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.

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 2019 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 2018 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 next 2-3 years.  Getting it right on gold prices prediction is always a difficult proposition. Hence, the best thing to do is to stay invested for the long term in this metal. 

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.

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.

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.

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,

Latest Updates on Bangalore Gold Rates

Gold Prices Grows in Bangalore

The gold prices grew in Bangalore in trend with the cues from the bullion markets on the soft dollar.

The gold rates in Bangalore were recorded at Rs 48,000 for 10 grams of 22 karats and Rs 52,360 for 10 grams of 24 karats.

In the international scenario, spot gold traded at $1,798 per ounce and U.S. gold futures at $1,811.30 per ounce.

The prices of the precious metal surged during today’s trade session owing to a soft dollar. Gold and the dollar share an inverse relationship, the fall in the dollar value will uplift the value of the precious metal and vice versa.

Meanwhile, investors are awaiting the release of the U.S. inflation data to get cues on the Federal Reserve’s policy tightening path.

Usually, a weaker greenback will make gold less expensive for overseas buyers. The dollar index, the measure of the dollar against a basket of rival currencies was down by 0.3%.

The ongoing tensions between Russia and Ukraine and the weak U.S. dollar have benefitted the ornamental metal, while the focus now shifts on the CPI data, due to be released on Wednesday, notes analysts.

A survey by the New York Federal Reserve showed that the U.S. consumer’s expectations for where inflation will be in a year and three years declined sharply in July.

9 August 2022
Gold Prices Consistent in Bangalore

The gold prices are consistent in Bangalore despite its surge in the bullion markets following a drop in the U.S. dollar and Treasury yields. The gold rates in Bangalore traded at Rs 47,600 for 10 grams of 22 karats and Rs 51,930 for 10 grams of 24 karats.

In the overseas forum, spot gold stood at $1,792 per ounce and U.S. gold futures at $1,804.20 per ounce.

The drop in the U.S. dollar and Treasury yields has lifted the value of the precious metal in the bullion market during today’s trade session. Gold and the dollar share an inverse relationship, the fall in the U.S. currency will make the metal more attractive for the holder of other countries’ currencies and vice versa.

The robust U.S. job growth data has reinforced expectations that the U.S. Central Bank will continue to hike the interest rates in its next upcoming meetings to calm down inflation rates.

The continued interest rate hike by the Fed has supported the dollar to surge up weighing on the metal to slide from the benchmark $1,800 levels.

Analysts note that with the gold’s gains capped by the potential of a more aggressive hike in the interest rate, the strength of technical support around $1,700 an ounce will be tested when Fed will meet to decide on the next monetary policy meet.

8 August 2022
Gold Prices Gains in Bangalore

The gold prices gained in Bangalore amidst rising fears of the global recession. The gold rates in Bangalore were seen at Rs 47,700 for 10 grams of 22 karats and Rs 52,040 for 10 grams of 24 karats.

The ongoing festival season in India has helped the prices of gold to surge in the local markets.

The pandemic crisis since March 2020, has fueled worries over the global economic recession, forcing investors to refrain from investing in riskier assets. Gold, the yellow metal acts as a safe-haven bet during economic and political uncertainty.

The fall in the equities markets has also prompted investors to park their money in precious metals.

The continuous hike in the interest rates by the U.S. Fed had bolstered the dollar value easing the prices of gold in the bullion markets. Investors are keenly waiting to see the U.S. jobs data which will throw more light on the economy of America.

For the last two months, the Fed had hiked interest rates by 75 basis points, to ease the sky-rocketing inflation rates. This month again the officials of the U.S. Federal Reserve have opted to hike interest rates by 75 basis points. Usually, a high-interest rate environment will hurt the bullion as it will not fetch any interest.

6 August 2022
Gold Prices Surges in Bangalore

The gold prices surged in Bangalore despite being firm in the bullion markets ahead of the Varamahalakshmi festival. The gold rates in Bangalore were trading at Rs 47,550 for 10 grams of 22 karats and Rs 51,880 for 10 grams of 24 karats.

In the international scenario, spot gold was seen at $1,766 per ounce and U.S. gold futures at $1,783.90 per ounce.

The prices of the precious metal steadied today in the bullion markets as it was supported by the pullback in the U.S. Treasury yields as investors are waiting to see the key U.S. non-farm payrolls report due to be released this week. The data will be throwing in some light on the U.S. Central Bank’s stance on interest rate hikes.

The sky-rocketing inflation has forced the central bank to take a hawkish stance on interest rate hikes. The officials of the Fed signalled that the central bank remains resolute in getting the U.S. rates up to a level that will more significantly eliminate economic activity and put a dent in the highest inflation rates since the 1980s.

The rising U.S. interest rates will diminish the appeal of the non-yielding gold’s value and bolster the U.S. currency to gain.

Gold and the dollar share an inverse relationship, the fall in the gold will help the dollar to climb and vice versa.

The ongoing tensions between the U.S. and China over the visit of U.S. House of Representatives Speaker Nancy Pelosi to Taiwan are also likely to impact the global economy. Chinese are angry over Ms Pelosi’s visit to Taiwan.

Meanwhile, Pelosi left Taiwan on Wednesday and added that the Chinese anger cannot stop world leaders from travelling to the self-ruled island claimed by Beijing.

4 August 2022
Gold Prices Declines in Bangalore

The gold prices declined in Bangalore following trends from the bullion markets amidst a rise in the dollar value and U.S. Treasury yields. The gold rates in Bangalore traded at Rs 47,200 for 10 grams of 22 karats and Rs 51,490 for 10 grams of 24 karats.

In the overseas markets, spot gold was seen at $1,773 per ounce and U.S. gold futures at $1,772.80 per ounce.

The sky-rocketing interest rates have forced many central banks globally to hike interest rates. The continued rise in the interest rates has helped the dollar to jump, weighing on the metal to slide.

Gold and the dollar share an inverse relationship, the rise in the dollar will ease the prices of the precious metal and vice versa.

After hiking interest rates for two consecutive times, the Fed officials hinted at continuing aggressive interest rates in the near term.

The U.S. dollar was up by 0.1% against its rival currencies after surging 0.8% overnight. The surge in the dollar has made the green-back denominated ornamental metal more expensive for other currency holders.

Three of the Fed officials from across the policy spectrum noted that their colleagues remain completely united on getting the interest rates up to a level to significantly curb economic activity and bring down inflation rates. The inflation rates in America have touched the highest since the 1980s.

3 August 2022
Gold Prices Jumps in Bangalore

The gold prices jumped in Bangalore despite being firm in the bullion markets as the U.S. dollar surged. The gold rates in Bangalore were trading at Rs 47,400 for 10 grams of 22 karats and Rs 51,710 for 10 grams of 24 karats.

In the international forum, spot gold was seen at $1,774 per ounce and U.S. gold futures at $1,787 an ounce.

Gold and the dollar share an inverse relationship, an uptick in the dollar will hamper the growth of the precious metal and vice versa.

The sky-rocketing inflation rates have forced several central banks across the globe to take a hawkish stance on interest rates. Fed recently hiked interest rates for the second straight month in a row, fanning fears of a global recession.

The dropping U.S. real rates have supported the metal in recent days and the upcoming U.S. payroll data which is due to be released on Friday will throw more light on the future of the interest rates.

The Benchmark U.S. 10-year Treasury yields managed to hit a four-month low. The situation has decreased the opportunity cost of holding the non-interest-paying bullion. On the other hand, the dollar index rose 0.2%, after having hit a four-week trough earlier.

Off lately, the fears of a recession are growing as the economic activity from several major economies like the U.S., Europe and Asia showed that factory activity declined and struggled for momentum in July.

2 August 2022
Gold Prices Declines in Bangalore

The gold prices declined in Bangalore despite a jump in the bullion markets amidst a weak dollar. The gold rates in Bangalore were trading at Rs 47,150 for 10 grams of 22 karats and Rs 51,430 for 10 grams of 24 karats.

In the international scenario, spot gold traded at $1,771 per ounce and U.S. gold futures at $1,790 an ounce.

Gold and the dollar share an inverse relationship, the drop in the value of the U.S. currency will uplift the value of the safe-haven asset in the bullion markets and vice-versa.

Over the last few weeks, the metal is witnessing a downward trend due to several reasons including robust dollar value, the continued hike in the interest rates by the Fed and other central banks across the globe, and growing worries of a global economic slowdown.

The reports cover unexpected contraction in the U.S. economy in the second quarter has forced the investors to restrain from investing in riskier assets, thus giving an advantage for the safe-haven metal to jump in the bullion market.

Analysts note that the metal could benefit from its safe-haven flows if countries slip into recession and central banks are left with no choice between hitting inflation targets or the economy.

The U.S. Federal Reserve hiked interest rates for a second straight time in a row for July by 75 basis points to bring down sky-high inflation rates. The hawkish stance by the Fed to tame the inflation situation has supported the metal to rise to its peak as traders are eyeing fresh economic cues from Fed.

Meanwhile, the monthly U.S. jobs report will be out this Friday and the data is likely to be closely scanned for its influence on Fed’s further rate hike plans.

1 August 2022
Gold Prices Stagnant in Bangalore

The gold prices are stagnant in Bangalore despite the rise in its prices in the bullion markets as the dollar retreats. The gold rates in Bangalore were seen at Rs 47,250 for 10 grams of 22 karats and Rs 51,540 for 10 grams of 24 karats.

In the international scenario, spot gold stood at $1,762 per ounce and U.S. gold futures at $1,762.90 per ounce.

The metal managed to touch a fresh multi-week peak yesterday with its safe-haven allure getting a fillip as the U.S. currency gave away its initial gains following a hike in the interest rates. The U.S. Federal Reserve announced another rate hike for July, by 75 basis points, in line with the market expectations.

The sky-rocketing inflation rates had forced Fed to take an aggressive stance on interest rates. In June, U.S. consumer spending surged up more than expectations, with the monthly inflation jumping by the most since 2005.

The situation forced the dollar to give up small gains and was last down 0.3%, helping the metal to expand its gains.

The gold and dollar share an inverse relationship, the strong dollar will hinder the growth of the gold rates and vice-versa.

The ornamental metal was bound for its fourth straight monthly fall. So far it has shed over $300 after it managed to hit the $2000 per ounce level in March 2022. The Fed is on a path to hiking interest rates helping the dollar to emerge as a preferred refuge amidst growing worries of recession.

30 July 2022
Gold Prices Inches Up in Bangalore

The gold prices inched up in Bangalore despite sliding in the bullion markets amidst a firm U.S. dollar. The gold rates in Bangalore traded at Rs 47,250 for 10 grams of 22 karats and Rs 51,540 for 10 grams of 24 karats.

On the international platform, spot gold was seen at $1,759 per ounce and U.S. gold futures at $1,752.70 per ounce.

The ornamental metal was more or less flat on Friday’s trade session as it headed for a fourth consecutive monthly fall, as an elevated U.S. dollar and aggressive stance by the Federal Reserve have helped the currency to remain firm.

Gold and the dollar share an inverse relationship, the surge in the dollar value will diminish the appeal of the yellow metal and vice-versa.

The U.S. economy witnessed an unexpected contraction in the second quarter of 2022, raising concerns over the economic slowdown. The situation has uplifted the appeal of the safe-haven metal helping the bullion prices to march up by around 1% during yesterday’s trade session.

The metal is on track for its best week since mid-May, as prices have managed to gain around 1.6% so far. Yet, bullion is unlikely to stave off its fourth monthly fall, its worst decline since November 2020.

Meanwhile, the commencement of Shravana month, the auspicious month in the Hindu calendar, may witness an uptick in the demand for the metal, weighing on the prices.

29 July 2022
The Gold Price in Bangalore Edges Down

Gold prices fell in Bnaglore declined today following cues in the world market as investors remained cautious ahead of the US Federal Reserve's policy decision later in the day.

Gold prices in Bangalore were recorded at Rs 46,500/- for 10 grams of 22 karat and Rs 50,730/- for 10 grams of 24 karat.

On the overseas forum, spot gold stood at $1,713.46 per ounce and US gold futures stood at $1,712.2 per ounce.

The U.S. central bank is expected to hike interest rates another 75 basis points (bps) after its two-day policy meeting later on Wednesday as it attempts to bring inflation down.

Gold and the dollar share an inverse relationship, the weaker dollar has putting pressure on the prices of the yellow metal in the gold market.

Everyone now wants to know what other tools the Fed will use to support the economy or if it will just focus on tackling high inflation, Lan added.

27 July 2022

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.

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