Last updated on: 3th Feb 2023 10:00 AM
Bangalore, known as the "Silicon Valley of India," is the largest city in the southern Indian state of Karnataka. It is the leading IT exporter in the country and has one of the highest GDPs of any big city in India.
Naturally, given the high concentration of wealth and income in the city, there is a high demand for gold in Bangalore, both for investment and decorative purposes. This demand increases during Dhanteras and other festivals where gold is considered auspicious.
The rates of gold in the city are linked to its global prices and other local influences. Factors like the purity of gold, import duties, and festive demand surges have a bearing on gold prices in Bangalore.
Please continue reading to learn more about gold rates, the top factors affecting its volatility, and the prerequisite concepts for investing in gold.
Gram | Yesterday | Today |
---|---|---|
1gm | ₹5,749.00 0.00 (0.00%) | ₹5,749.00 0.00 (0.00%) |
8gm | ₹45,992.00 0.00 (0.00%) | ₹45,992.00 0.00 (0.00%) |
10gm | ₹57,490.00 0.00 (0.00%) | ₹57,490.00 0.00 (0.00%) |
100gm | ₹5,74,900.00 0.00 (0.00%) | ₹5,74,900.00 0.00 (0.00%) |
Here are some factors that determine the gold price in Bangalore:
The global demand and supply of gold keep fluctuating in response to macroeconomic factors and geopolitical situations. This impacts the local price of gold in Bangalore as well.
Day | 24K Gold | 22K Gold |
---|---|---|
04 Feb 2023 | ₹5,749.00 0.00 (0.00%) | ₹5,475.00 0.00 (0.00%) |
03 Feb 2023 | ₹5,749.00 0.00 (0.00%) | ₹5,475.00 0.00 (0.00%) |
02 Feb 2023 | ₹5,749.00 89.00 (1.58%) | ₹5,475.00 85.00 (1.58%) |
01 Feb 2023 | ₹5,660.00 27.00 (0.48%) | ₹5,390.00 25.00 (0.47%) |
31 Jan 2023 | ₹5,633.00 -16.00 (-0.28%) | ₹5,365.00 -15.00 (-0.27%) |
30 Jan 2023 | ₹5,649.00 0.00 (0.00%) | ₹5,380.00 0.00 (0.00%) |
29 Jan 2023 | ₹5,649.00 0.00 (0.00%) | ₹5,380.00 0.00 (0.00%) |
28 Jan 2023 | ₹5,649.00 16.00 (0.29%) | ₹5,380.00 15.00 (0.28%) |
27 Jan 2023 | ₹5,633.00 -63.00 (-1.10%) | ₹5,365.00 -60.00 (-1.10%) |
26 Jan 2023 | ₹5,696.00 42.00 (0.75%) | ₹5,425.00 40.00 (0.75%) |
Gold is considered a stable investment for long-term returns. It is excellent for diversifying your portfolio and hedging against market risks in Bangalore. You can invest in physical gold, such as jewellery and bullion.
If you want to avoid paying for charges or wastage, you can choose to invest in digital gold, such as gold bonds, equity-traded funds (ETFs), etc. Here are some of the alternatives to physical gold:
The purity of gold can be verified through the hallmark provided by the Bureau of Indian Standards (BIS). If you are looking to buy gold in Bangalore, check the hallmark before buying it.
All registered jewellers in B’luru are required to stamp gold articles with the hallmark and gold karats. There are very high chances of being defrauded in the purchase of un-hallmarked gold.
The purity of gold is measured in karats. 24-karat gold is the purest form of gold, containing 99.9% gold. However, it isn't easy to make jewellery with it because it is too fragile.
Generally, 22-karat gold is used to make jewellery. It contains 22 parts gold and two parts copper, silver, nickel, and zinc. It has a purity of 91.6% and is hence also called "916 gold."
14K and 18K gold are used to make designer jewellery which has a lesser quantity of gold.
Day | 24K Gold | 22K Gold |
---|---|---|
01 February 2023 | 5660 | 5390 |
05 February 2023 | 0 | 0 |
Highest | 5749 | 5475 |
Lowest | 5660 | 5390 |
The following taxes are levied on every morsel of gold sold in the city:
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