Gold Rate in Bangalore
23rd Jan 2018
Today MCX gold price in rupees per 10 grams.
Today gold price in Bangalore is 30160.4 rupees per 10 grams
(10 grams = 1 tola gold)
22 Carat & 24 Carat Gold Rate in Bangalore Per Gram (INR)
Today 24 Carat Gold Price per gram in Bangalore (INR)
|Gram||24 Carat Gold Yesterday||24 Carat Gold Today||Daily Price Change|
|1 Gram||Rs 3016.04||Rs 3019.25|
|8 Gram||Rs 24128.32||Rs 24154|
|10 Gram||Rs 30160.4||Rs 30192.5|
|100 Gram||Rs 301604||Rs 301925|
Today 22 Carat Gold Price per gram in Bangalore (INR)
|Gram||22 Carat Gold Yesterday||22 Carat Gold Today||Daily Price Change|
|1 Gram||Rs 2820.00||Rs 2823.00|
|8 Gram||Rs 22560||Rs 22584|
|10 Gram||Rs 28200||Rs 28230|
|100 Gram||Rs 282000||Rs 282300|
Gold Rate in Bangalore
Gold rate in Bangalore has seen a slow up rise in gold price than ever before, being a very popular commodity among Indians. There has been a great demand for it thus a steady increase in gold rate in Bangalore. The gold price in Bangalore today is well above Rs. 2,700 for one gram of gold, marking a profit in the industry. The gold rates of Bangalore are set by the international standards. The purchase of gold in this city is primarily for the making of jewelry and ornaments, which follows the trend of the entire country as a whole. Indians have a great history of investing their gold as a way of banking. Thus, gold acts as means of investment for consumers in Bangalore. In addition to this all, there are a number of gold dealers in Bangalore who form the backbone of the local gold industry.
22 & 24 Carat Gold Rate in Bangalore for Last 10 Days
|23 January 2018||Rs. 2820.00||Rs. 28200||Rs. 3016.04||Rs. 30160.4|
|22 January 2018||Rs. 2823.00||Rs. 28230||Rs. 3019.25||Rs. 30192.5|
|21 January 2018||Rs. 2823.00||Rs. 28230||Rs. 3019.25||Rs. 30192.5|
|20 January 2018||Rs. 2823.00||Rs. 28230||Rs. 3019.25||Rs. 30192.5|
|19 January 2018||Rs. 2810.00||Rs. 28100||Rs. 3005.35||Rs. 30053.5|
|18 January 2018||Rs. 2825.00||Rs. 28250||Rs. 3021.39||Rs. 30213.9|
|17 January 2018||Rs. 2825.00||Rs. 28250||Rs. 3021.39||Rs. 30213.9|
|16 January 2018||Rs. 2825.00||Rs. 28250||Rs. 3021.39||Rs. 30213.9|
|15 January 2018||Rs. 2815.00||Rs. 28150||Rs. 3010.70||Rs. 30107|
Comparison of 22 K & 24 K Gold Rates in Bangalore
Historical Price of Gold Rate in Bangalore
Gold Rate in Bangalore
Bangalore also called as Bengaluru, is the capital of India's southern state Karnataka. Being a cosmopolitan city of India and a highly progressive city, the current gold rate in Bangalore has seen a remarkably steady rise. The gold rate in Bangalore today per gram in rupees stands at Rs.2,738.90 with a Rs.8.80 price change from yesterday's rate.
How are Gold Rates Decided?
The Malabar gold rate in Bangalore is decided by international trends and affected by a wide range of influential factors, including the strength of Indian rupee to seasonal demand of gold. Gold purchased in Bangalore is primarily used for jewellery because in India gold jewellery plays a prime role in most of the occasions.
The twenty-two carat gold rate in Bangalore today has witnessed a gradual rise over the course of the year 2017 and is on an inclining trend. So, if you are looking out for a valuable investment, gold can be a great option for you.
Impact of GST on Gold Rate in Bangalore
There has been a lot of ebb and flow in the gold rate, especially after the enactment of Goods and Service Tax (GST) in India. Along with international trends, the advent of GST has also reflected on the gold rate in Bangalore as well. This means the taxation on gold jewelry is now 3%, which is exclusive of the 1.5% VAT, which was levied earlier, along with 1% excise duty. After GST, the taxation has been streamlined, the final jewelry bills are now inclusive of 3% GST, custom duty of 10% and processing charges are imposed as 5%.
This has increased the total cost by 1.6%, leading to a marginal increase in gold rate in Bangalore today, but this has not affected the sales much. Big players in the gold industry are benefitting from it, as it has neutralized both the organized and unorganized sector. Customers can now purchase from small and big dealers, at the same price, as it has reduced the drastic gap between the two.
Is it a Good Investment?
Investing in gold will greatly diversify your risk profile and your investment portfolio. Investment in Gold has most of the time yielded good returns in the long run, due to its steady increase in price. So, it is definitely worthwhile to consider investing in gold in Bangalore.
Gold as an Investment in Bangalore
The investment portfolio of gold is distinguished for its stability. Indians believe in investing in gold for the long term benefits, which they get in the form of returns. Bangalore is considered to be a safe haven to invest in gold jewelry, ornaments, gold coins or bullions, as people here view it as an important investment to keep their wealth intact. It is widely used for multi commodity exchange as well.
There are several jewelry stores in Bangalore, where you can buy genuine gold products for investment, as well as personal use. But before making the purchase, it is advisable that you do some online research to know about gold price today in Bangalore, so that you make an informed decision. The gold prices keep on fluctuation every day, so you need to check on that particular day as well.
Make sure that you get the purity certification from your vendor against the jewelry that you have purchased. This ensures that you have invested your money safely, and it is only possible to exchange certified jewelry on the current gold rate. Nonetheless, all the big players provide their customers with the same. You need to care about is, getting it from the small vendors as well.
How Can You Make Gold Investments in Bangalore
When it comes to investing in gold, there are number of ways to do that. Either you can invest in gold coins or jewelry. Below mentioned are a few viable investment opportunities in gold -
How about investing in gold coins? - You can either invest in a 22 karat gold coin or 24 karat gold coin. The purity level various though, its 92% if its 22 karat and 99.99% if it’s 24 karat. You can make the purchase directly from banks or from any of the big or small stores or dealers in Bangalore. The purpose of buying a gold coin is either to gift during marriages or festivals, or to sell it once price rises higher than the price at which you bought it, to serve your investment requirements.
Purchasing Jewelry - In India, people love to invest in gold ornaments and jewelry, as it serves the dual purpose of investment as well as gifts for your loved ones during festivals and marriages. The bride and groom are gifted many gold items, which they either wear on special occasions or use as investments later. The market gold rate is the actual price of the metal, and if you buy jewelry, the jeweler will levy making charges or labor charges on it. Make sure that you buy certified jewelry, so you get the current exchange rate on your jewelry minus the making charges.
Gold bullions - Bullions are bigger in size as compared to gold coins. They are mostly purchased in kilograms. They are usually cast in the form of bars or slabs and are used to make high-value investments. They are purchased at the prevailing gold price in the city and are considered to be a great medium of investment, especially, if you want to get returns similar or higher than your investment cost.
Exchange Traded Funds - Investing in gold traded funds is a lucrative option to keep your money safe without needing to keep it with you. You can easily exchange them for cash if you need some money on urgent basis.
Things to Consider Before Buying Gold Jewelry in Bangalore
Today gold rate in Bangalore is prone to a lot of influential factors, and before you make the purchase, it’s important to ascertain the factors listed below -
Purity - You simply can’t purchase gold without considering its purity factor. If you are purchasing jewelry or ornaments, it’s recommended to buy one, made using 22 karat gold i.e. 92% purity level. And if it’s a gold coin or bullion, you can go for 24 karat gold i.e. 99.99% purity level. You can also purchase 14 karat gold jewelry with 58.33% purity level and 18 karat gold ornaments with 75% purity level.
Weight - The price of the gold jewelry is calculated on the basis of its weight. If you add more stones to it, the weight will certainly increase and so will the cost. At the time of making the purchase, ensure that you are not charged unnecessarily by your dealer for the stones, at the same price as that of gold.
Certification - if you want to ensure the authenticity of your gold then make sure that your dealer gives you a purity certificate. The certificate allows you to exchange it in future at the current market price.
Labor Charges - Every jeweler includes jewelry making charges or labor charges in the total bill. This is the cost which goes into designing the jewelry. The labor charges would be added to the actual gold price in Bangalore, and that’s how your total jewelry cost would come out.
You just need to search online and note the gold price today in Bangalore, so that you can make an informed choice while doing the final purchase.
Factors that Influence Gold Prices in Bangalore
Factors influencing the gold prices in Bangalore are numerous. Listed below are a few of them -
- International market fluctuations are one of the most important factors influencing the price of gold around the country. If there is a rise in gold prices globally, then the price would increase correspondingly in Bangalore as well.
- As the value of rupee rises against other currencies, globally, gold prices decrease and vice versa. India imports gold from other countries. When the rupee appreciates, the government has to pay less to import it from other nations, and if it decreases, the government is liable to pay more. So, if there is a rise in the value of rupee, the gold prices in Bangalore would fall.
- The prices of gold in Bangalore, and in the entire country are certainly influenced by the upsurge in demand and supply during the festival season. Especially during Diwali season, wedding season, dhanteras and their like.
KDM and Hallmarked Gold in Bangalore
Hallmark - Hallmark jewelry refers to a quality certification as per the international standards of purity by (BIS) Bureau of Indian Standards This is based on the composition of metal which is used for alloying, and the purity levels of the gold used.
KDM - 92% of gold is mixed with 8% of cadmium. This is how this alloy is formed. In the process of jewelry designing, older material is used, but the two metals i.e. gold and solder material have different melting points, so cadmium is now mixed with gold, that is why it is called KDM.
Importing Gold into Bangalore
- You need to have an export certificate, if you want to bring gold back to Bangalore or India from abroad.
- If you have the export certificate, there will be no import duty on gold.
- You will get this certificate, only if you are re-importing the gold into the country for personal use.
Prices of gold are ever fluctuating. Taking into consideration the above mentioned dynamics will help you to understand these fluctuations in gold prices in Bangalore. And certainly you will be able to make an informed choice when you go for actual purchase.
Latest News on Gold Rate in Bangalore
Gold Prices Set for Marginal Decline in Bangalore
The investors continue to believe in the power of the yellow metal, despite a marginal decline in the prices of gold in 2017. The precious metal was last seen trading at Rs. 26,500. The prices dropped by Rs 300 within a week. Also, the price of gold in Bangalore dropped to USD 1245 per ounce within a week, and soon witnessed a hike.
Gold rates in Bangalore were seen to be stable around Rs. 26,000 to Rs. 26,555. Even with the price decline, investors in Bangalore count on the precious gold metal for long term investment purposes. What made it a good purchase was the price stability between Rs 26,000 to Rs 27,000 during the year. The prices of gold continued to remain low; however in 2018, the gold rates are more likely to bounce.
Gold Rates Stable in Bangalore
The gold rates in Bangalore have risen more significantly than before. As of yesterday, the gold in Bangalore was traded at Rs. 27,000 per 10 gram of gold.
The gold rates in Bangalore are impacted by international market trends. Today, gold prices in Bangalore remain unchanged taking cues from the global market. Previously in the city, the gold prices were seen trading at Rs.26, 800 for 22 karat gold, and 24 karat gold was priced at Rs.29, 236.
In the global markets, gold rates also remained stable at USD 1,253.20 per ounce. Multi-Commodity Exchange saw a price increase of Rs.122. Gold prices in the domestic market of Bangalore city remained unchanged, as compared to the previous session. At present, the prices of 22 karat gold remained unchanged at Rs.26, 820 and Rs.29, 258 for 24 karat gold.
Gold Rates Little Changed in Bangalore
Earlier in Bangalore, 22 karat gold was seen trading at Rs.26, 850 and Rs.29, 290 for 24 karat gold. The global market rates influence the gold prices in Bangalore and due to this gold rates have changed a little in the city in the last few weeks. As the dollar stood strong in the international markets, the prices have significantly fallen in the last 10 days. As on Nov 28, 2017, the price of 24 karat gold in Bangalore traded at its highest at Rs. 30,043, whereas 22 karat gold traded highest at Rs.27, 540. As on Dec 09, 2017, the prices traded at the lowest: Rs.29, 290 for 24 karat and Rs.26,580 for 22 karat gold.
As on Jan 04, 2018, the gold prices in Bangalore have changed a little. 22 karat gold is currently traded at Rs. 26,550 and 24 karat is now traded at Rs.28, 963.
SubscribeStay updated with Latest Gold Rate
Price calculator according weight nearest popular city
- Gold Rate In Delhi
- Gold Rate In Bangalore
- Gold Rate In Chennai
- Gold Rate In Mumbai
- Gold Rate In Kolkata
- Gold Rate In Hyderabad
- Gold Rate In Pune
- Gold Rate In Ahmedabad
- Allahabad Bank Fixed Deposit
- Andhra Bank Fixed Deposit
- Axis Bank Fixed Deposit
- Bandhan Bank Fixed Deposit
- Bank of Baroda Fixed Deposit
- Bank of India Fixed Deposit
- Bank of Maharashtra Fixed Deposit
- Canara Bank Fixed Deposit
- Central Bank of India Fixed Deposit
- Citi Bank Fixed Deposit
- Corporation Bank Fixed Deposit
- Dena Bank Fixed Deposit
- HDFC Bank Fixed Deposit
- ICICI Bank Fixed Deposit
- IDBI Bank Fixed Deposit
- IDFC Bank Fixed Deposit
- Indian Bank Fixed Deposit
- Indian Overseas Bank Fixed Deposit
- IndusInd Bank Fixed Deposit
- Karnataka Bank Fixed Deposit
- Kotak Mahindra Bank Fixed Deposit
- Punjab National Bank Fixed Deposit
- RBL Bank Fixed Deposit
- State Bank of Hyderabad Fixed Deposit
- State Bank Of India Fixed Deposit
- State Bank of Mysore Fixed Deposit
- State Bank of Travancore Fixed Deposit
- Syndicate Bank Fixed Deposit
- UCO Bank Fixed Deposit
- Union Bank of India Fixed Deposit
- Vijaya Bank Fixed Deposit
- Yes Bank Fixed Deposit
- SBI Bank IFSC Code
- Bank of Baroda IFSC Code
- AXIS Bank IFSC Code
- ICICI Bank IFSC Code
- Indian Bank IFSC Code
- Canara Bank IFSC Code
- Bank of India IFSC Code
- HDFC Bank IFSC Code
- Andhra Bank IFSC Code
- Central Bank of India IFSC Code
- Allahabad Bank IFSC Code
- Punjab National Bank IFSC Code
- Syndicate Bank IFSC Code
- Bank of Maharashtra IFSC Code
- Citi Bank IFSC Code