Gold Rate in Bangalore

Comparison of 22 K & 24 K Gold Rates in Bangalore

Historical Price of Gold Rate in Bangalore

• Trend of Gold Rate in Bangalore for March 2019 (rates per gram for 22/24 carat gold)

  • Gold Rates	22 Carat	24 Carat
    Mar 1st Rate	Rs. 3117.00/- per gram	Rs. 3333.69/- per gram
    Feb 28th Rate	Rs. 3125.00/- per gram	Rs. 3342.25/- per gram
    Highest Mar Rate	Rs. 3117.00/- per gram	Rs. 3333.69/- per gram
    Lowest Mar Rate	Rs. 2998.00/- per gram	Rs. 3206.42/- per gram
    Overall Performance	Decline	Decline
    Percentage Change	-0.26 %	-0.26 %

• Trend of Gold Rate in Bangalore for February 2019 (rates per gram for 22/24 carat gold)

  • Gold Rates	22 Carat	24 Carat
    Feb 1st Rate	Rs. 3120.00/- per gram	Rs. 3336.90/- per gram
    Jan 31st Rate	Rs. 3110.00/- per gram	Rs. 3326.20/- per gram
    Highest Feb Rate	Rs. 3170.00/- per gram	Rs. 3390.37/- per gram
    Lowest Feb Rate	Rs. 3080.00/- per gram	Rs. 3294.12/- per gram
    Overall Performance	Decline	Decline
    Percentage Change	0.32 %	0.32 %

• Trend of Gold Rate in Bangalore for January 2019 (rates per gram for 22/24 carat gold)

  • Gold Rates	22 Carat	24 Carat
    Jan 1st Rate	Rs. 2968.00/- per gram	Rs. 3174.33/- per gram
    Dec 31st Rate	Rs. 2965.00/- per gram	Rs. 3171.12/- per gram
    Highest Jan Rate	Rs. 3115.00/- per gram	Rs. 3331.55/- per gram
    Lowest Jan Rate	Rs. 2968.00/- per gram	Rs. 3174.33/- per gram
    Overall Performance	Decline	Decline
    Percentage Change	0.10 %	0.10 %

• Trend of Gold Rate in Bangalore for December 2018 (rates per gram for 22/24 carat gold)

  • Gold Rates	22 Carat	24 Carat
    Dec 1st Rate	Rs. 2845.00/- per gram	Rs. 3042.78/- per gram
    Nov 30th Rate	Rs. 2845.00/- per gram	Rs. 3042.78/- per gram
    Highest Dec Rate	Rs. 2985.00/- per gram	Rs. 3192.51/- per gram
    Lowest Dec Rate	Rs. 2840.00/- per gram	Rs. 3037.43/- per gram
    Overall Performance	flat	flat
    Percentage Change	0.00 %	0.00 %

• Trend of Gold Rate in Bangalore for November 2018 (rates per gram for 22/24 carat gold)

  • Gold Rates	22 Carat	24 Carat
    Nov 1st Rate	Rs. 2975.00/- per gram	Rs. 3181.82/- per gram
    Oct 31st Rate	Rs. 2990.00/- per gram	Rs. 3197.86/- per gram
    Highest Nov Rate	Rs. 2980.00/- per gram	Rs. 3187.17/- per gram
    Lowest Nov Rate	Rs. 2845.00/- per gram	Rs. 3042.78/- per gram
    Overall Performance	Decline	Decline
    Percentage Change	-0.50 %	-0.50 %

• Trend of Gold Rate in Bangalore for October 2018 (rates per gram for 22/24 carat gold)

  • Gold Rates	22 Carat	24 Carat
    Oct 2nd Rate	Rs. 2885.00/- per gram	Rs. 3085.56/- per gram
    Highest Oct Rate	Rs. 2999.00/- per gram	Rs. 3207.49/- per gram
    Lowest Oct Rate	Rs. 2885.00/- per gram	Rs. 3085.56/- per gram
    Overall Performance	Decline	Decline
    Percentage Change	100.00 %	100.00 %

Gold Price 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.

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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.

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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.

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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.

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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 in India. 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. 

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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.

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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.

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Factors that Influence Gold Prices in Bangalore

Factors influencing the gold prices in Bangalore are numerous. Listed below are a few of them -

1. 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.
2. 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.
3. 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.

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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.

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Importing Gold into Bangalore

1. You need to have an export certificate, if you want to bring gold back to Bangalore or India from abroad.
2. If you have the export certificate, there will be no import duty on gold.
3. 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.

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