Gold rate today in Karnataka
24K Gold / 10gm
05th Jan '24
₹69,000.00
-260.00 (0.39%)
24K Gold / 10gm
05th Jan '24
₹69,000.00
-260.00 (0.39%)
24K Gold / 10gm
05th Jan '24
₹69,000.00
-260.00 (0.39%)
24K Gold / 10gm
05th Jan '24
₹69,000.00
-260.00 (0.39%)
22K Gold / 10gm
05th Jan '24
₹69,000.00
-260.00 (0.39%)
22K Gold / 10gm
05th Jan '24
₹69,000.00
-260.00 (0.39%)
22K Gold / 10gm
05th Jan '24
₹69,000.00
-260.00 (0.39%)
22K Gold / 10gm
05th Jan '24
₹69,000.00
-260.00 (0.39%)
Gold, a metal deeply revered and valued in India, holds a special place in the hearts of its people, particularly among women, who have a profound connection with it. This cherished metal's pricing fluctuates daily, a common phenomenon observed not only in India but across the globe, with each city, including those in Karnataka, experiencing these variations.
The factors influencing gold prices in Karnataka are multifaceted, encompassing global market trends as well. In the context of Indian culture, gold is more than just a precious metal; it symbolizes auspiciousness and is intricately woven into the fabric of cultural practices. Beyond its cultural significance, gold is also recognized for its role in enriching investment portfolios, making it a sought-after asset.
This high regard for gold translates into substantial purchasing volumes throughout the country, Karnataka being no exception. The state's residents, like many others across India, invest not only in physical gold but have also ventured into trading gold as a commodity and exploring gold-based derivatives in various exchanges.
Remarkably, gold consumption in India, including Karnataka, remains steadfast regardless of the economic climate. This unwavering demand underscores the metal's enduring value in Indian society. For those considering investing in gold in Karnataka, staying well-informed about the current gold rates in the state is crucial.
Whether the interest lies in acquiring gold jewelry, coins, or bars, it is imperative to check the latest gold prices in Karnataka. As alluded to earlier, these prices are subject to daily fluctuations due to several influencing factors. Key among these are the demand and supply dynamics of gold, inflationary trends, and the ongoing rupee-dollar exchange rate evaluations. Understanding these factors can provide valuable insights for potential investors, helping them make informed decisions in their gold investment endeavors.
Gold, a metal deeply revered and valued in India, holds a special place in the hearts of its people, particularly among women, who have a profound connection with it. This cherished metal's pricing fluctuates daily, a common phenomenon observed not only in India but across the globe, with each city, including those in Karnataka, experiencing these variations.
The factors influencing gold prices in Karnataka are multifaceted, encompassing global market trends as well. In the context of Indian culture, gold is more than just a precious metal; it symbolizes auspiciousness and is intricately woven into the fabric of cultural practices. Beyond its cultural significance, gold is also recognized for its role in enriching investment portfolios, making it a sought-after asset.
This high regard for gold translates into substantial purchasing volumes throughout the country, Karnataka being no exception. The state's residents, like many others across India, invest not only in physical gold but have also ventured into trading gold as a commodity and exploring gold-based derivatives in various exchanges.
Remarkably, gold consumption in India, including Karnataka, remains steadfast regardless of the economic climate. This unwavering demand underscores the metal's enduring value in Indian society. For those considering investing in gold in Karnataka, staying well-informed about the current gold rates in the state is crucial.
Whether the interest lies in acquiring gold jewelry, coins, or bars, it is imperative to check the latest gold prices in Karnataka. As alluded to earlier, these prices are subject to daily fluctuations due to several influencing factors. Key among these are the demand and supply dynamics of gold, inflationary trends, and the ongoing rupee-dollar exchange rate evaluations. Understanding these factors can provide valuable insights for potential investors, helping them make informed decisions in their gold investment endeavors.
24K Gold Rates Per Gram in Karnataka
Grams
Today
Yesterday
02 years
₹15,000
₹4.1 Lakhs
05 years
₹15,000
₹12.4 Lakhs
10 years
₹15,000
₹34.9 Lakhs
15 years
₹15,000
₹75.7 Lakhs
22K Gold Rates Per Gram in Karnataka
24K Gold Rates Per Gram in Karnataka
Grams
Today
Yesterday
1 Gram
₹15,000
₹4.1 Lakhs
₹15,000
8 Gram
₹15,000
₹12.4 Lakhs
₹15,000
10 Gram
₹15,000
₹34.9 Lakhs
₹15,000
12 Gram (1 Tola)
₹15,000
₹75.7 Lakhs
₹15,000
22K Gold Rates Per Gram in Karnataka
Grams
Today
Yesterday
1 Gram
₹15,000.00
₹15,000.00
8 Gram
₹15,000
₹15,000.00
10 Gram
₹15,000
₹15,000.00
12 Gram (1 Tola)
₹15,000
₹15,000.00
Factors Affecting Gold Rates in Karnataka
Determinants of Gold Prices in Karnataka
The current gold rate in Odisha is primarily influenced by the classic economic dynamics of demand and supply. Additionally, specific factors impact the supply chain, thereby affecting gold rates in the region:
Government Gold Reserves
The Reserve Bank of India (RBI) manages government gold reserves. An increase in RBI's gold purchasing leads to a rise in gold prices, attributed to more money circulating in the market and a reduction in available gold.
Impact of Inflation
Gold, often viewed as a stable asset compared to currency, is used to hedge against inflation. High inflation typically boosts the demand for gold, leading to increased prices.
Jewellery Market Dynamics
In times of festivals like Diwali, Akshaya Tritiya, and during wedding seasons, gold rates escalate due to heightened demand, often leading to a price increase when supply cannot meet this demand.
Global Gold Market Trends
International shifts and trends in the gold market also have a significant impact on gold prices in Odisha.
Interest Rate Fluctuations
Rising interest rates often lead to the selling of gold for liquidity, increasing the market supply of gold and potentially lowering its price. Conversely, lower interest rates result in more disposable income, spurring higher demand and subsequent increases in gold prices
Determinants of Gold Prices in Karnataka
The current gold rate in Odisha is primarily influenced by the classic economic dynamics of demand and supply. Additionally, specific factors impact the supply chain, thereby affecting gold rates in the region:
Government Gold Reserves
The Reserve Bank of India (RBI) manages government gold reserves. An increase in RBI's gold purchasing leads to a rise in gold prices, attributed to more money circulating in the market and a reduction in available gold.
Impact of Inflation
Gold, often viewed as a stable asset compared to currency, is used to hedge against inflation. High inflation typically boosts the demand for gold, leading to increased prices.
Jewellery Market Dynamics
In times of festivals like Diwali, Akshaya Tritiya, and during wedding seasons, gold rates escalate due to heightened demand, often leading to a price increase when supply cannot meet this demand.
Global Gold Market Trends
International shifts and trends in the gold market also have a significant impact on gold prices in Odisha.
Interest Rate Fluctuations
Rising interest rates often lead to the selling of gold for liquidity, increasing the market supply of gold and potentially lowering its price. Conversely, lower interest rates result in more disposable income, spurring higher demand and subsequent increases in gold prices
Historical Gold Rates in India for the Last 10 Days
DAY
22K Gold
24K Gold
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
Historical Gold Rates in India for the Last 10 Days
DAY
22K Gold
24K Gold
31 Dec 2023
₹63,305.00
0.00%
₹63,305.00
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305.90
0.00%
₹63,305.00
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
How is the purity of gold calculated in Karnataka?
In Karnataka, the gold rate and its purity level are determined by the guidelines of the Indian Bullion Association. Gold dealers are required to include a hallmark symbol on their products to signify purity.
The gold price in Karnataka, as in other places, is influenced by global market trends. Although India is not a major gold mining nation and is less directly affected by market fluctuations, international factors still play a crucial role.
These factors significantly impact the purchasing ability of gold importers and the broader public in India, including Karnataka.
In Karnataka, the gold rate and its purity level are determined by the guidelines of the Indian Bullion Association. Gold dealers are required to include a hallmark symbol on their products to signify purity.
The gold price in Karnataka, as in other places, is influenced by global market trends. Although India is not a major gold mining nation and is less directly affected by market fluctuations, international factors still play a crucial role.
These factors significantly impact the purchasing ability of gold importers and the broader public in India, including Karnataka.
Necessary Documentation for Gold Investment in Karnataka
Required Documentation for Gold Investment
Physical Gold Purchase:
No specific documents, brokerage, or Demat account are required for buying physical gold. However, it's important to retain the purchase receipt and the BIS certification for future reference.
Investment Over Rs. 2 Lakhs:
For investing in jewelry, coins, bars, etc., worth Rs. 2 lakhs or more, you must provide your PAN Card and a government-issued ID with your name and address, such as a Voter ID, Passport, or Aadhar Card.
Digital Gold and ETFs:
To invest in Digital Gold and Exchange-Traded Funds (ETFs), opening a brokerage account and a Demat account with the ETF provider is necessary.
Sovereign Gold Bonds (SGBs) and Digital Gold:
These investment options require minimal paperwork and do not necessitate a Demat account.
Gold Mutual Funds:
Investing in gold mutual funds requires both a brokerage and a Demat account.
Required Documentation for Gold Investment
Physical Gold Purchase:
No specific documents, brokerage, or Demat account are required for buying physical gold. However, it's important to retain the purchase receipt and the BIS certification for future reference.
Investment Over Rs. 2 Lakhs:
For investing in jewelry, coins, bars, etc., worth Rs. 2 lakhs or more, you must provide your PAN Card and a government-issued ID with your name and address, such as a Voter ID, Passport, or Aadhar Card.
Digital Gold and ETFs:
To invest in Digital Gold and Exchange-Traded Funds (ETFs), opening a brokerage account and a Demat account with the ETF provider is necessary.
Sovereign Gold Bonds (SGBs) and Digital Gold:
These investment options require minimal paperwork and do not necessitate a Demat account.
Gold Mutual Funds:
Investing in gold mutual funds requires both a brokerage and a Demat account.
Gold Rates in Top cities
CITY
22K Gold
24K Gold
Delhi
₹65,000
0.00%
₹65,000
0.00%
Kolkata
₹65,000
0.00%
₹65,000
0.00%
Mumbai
₹65,000
0.00%
₹65,000
0.00%
Chennai
₹65,000
0.00%
₹65,000
0.00%
Jaipur
₹65,000
0.00%
₹65,000
0.00%
Key Factors to Consider When Purchasing Gold in Karnataka
Key Points to Consider When Purchasing Gold Jewelry
When you're in the market for gold jewelry, here are essential things to keep in mind:
Confirm Gold Rates:
Gold prices fluctuate daily and vary by location and in real-time on the stock market. Always check the current 22-carat gold rate in Karnataka before making a purchase.
Wastage and Making Charges:
Remember, the final cost of jewelry in Karnataka is more than the current 916 gold rate. It can be calculated as: Final Jewelry Price = (Weight in Grams x Today’s Gold Rate) + 10 to 20% for making and wastage charges + 3% GST on the purchase price.
Verify BIS Certification:
The Bureau of Indian Standards (BIS) authenticates gold purity. For instance, 22K gold typically carries the BIS-916 hallmark, indicating 91.6 grams of pure 24K gold per 100 grams.
Assess Purity Levels:
While 24K gold is 99.94% pure, it’s not malleable and is usually alloyed with metals like copper or silver, resulting in varying purity levels such as 22K, 18K, 14K, 10K, etc.
Review Purchase Bill and Buy-Back Terms: The terms of buy-back are crucial for determining your future profit. Most jewelers provide buy-back facilities and offer jewelry exchange on a gram-to-gram basis, deducting only making and wastage charges.
Key Points to Consider When Purchasing Gold Jewelry
When you're in the market for gold jewelry, here are essential things to keep in mind:
Confirm Gold Rates:
Gold prices fluctuate daily and vary by location and in real-time on the stock market. Always check the current 22-carat gold rate in Karnataka before making a purchase.
Wastage and Making Charges:
Remember, the final cost of jewelry in Karnataka is more than the current 916 gold rate. It can be calculated as: Final Jewelry Price = (Weight in Grams x Today’s Gold Rate) + 10 to 20% for making and wastage charges + 3% GST on the purchase price.
Verify BIS Certification:
The Bureau of Indian Standards (BIS) authenticates gold purity. For instance, 22K gold typically carries the BIS-916 hallmark, indicating 91.6 grams of pure 24K gold per 100 grams.
Assess Purity Levels:
While 24K gold is 99.94% pure, it’s not malleable and is usually alloyed with metals like copper or silver, resulting in varying purity levels such as 22K, 18K, 14K, 10K, etc.
Review Purchase Bill and Buy-Back Terms: The terms of buy-back are crucial for determining your future profit. Most jewelers provide buy-back facilities and offer jewelry exchange on a gram-to-gram basis, deducting only making and wastage charges.
FAQs on Gold Price in Karnataka
What are the different forms of gold investment available in Karnataka?
In Karnataka, gold investments include traditional physical gold, Sovereign Gold Bonds (SGBs), Gold Exchange Traded Funds (ETFs), and gold mutual funds.
What is a Sovereign Gold Bond, and how does it differ from physical gold?
Sovereign Gold Bonds are government securities denominated in grams of gold, offering a secure investment alternative to physical gold without the need for storage or physical handling.
How do Gold ETFs work, and what do they represent?
Gold ETFs are open-ended mutual fund schemes that track the price of gold, with each unit typically representing one gram of 99.5% pure gold, allowing investors to trade in gold on stock exchanges.
What are gold mutual funds, and how do they invest in gold?
Gold mutual funds are open-ended funds that invest in units of Gold ETFs, providing a diversified investment in gold without directly purchasing physical gold or ETF units.
Can investments in Gold ETFs and gold mutual funds be made easily in Karnataka?
Yes, investments in Gold ETFs and gold mutual funds can be made conveniently through digital platforms like Groww, offering hassle-free and easy access to gold investments.
What are the different forms of gold investment available in Karnataka?
In Karnataka, gold investments include traditional physical gold, Sovereign Gold Bonds (SGBs), Gold Exchange Traded Funds (ETFs), and gold mutual funds.
What is a Sovereign Gold Bond, and how does it differ from physical gold?
Sovereign Gold Bonds are government securities denominated in grams of gold, offering a secure investment alternative to physical gold without the need for storage or physical handling.
How do Gold ETFs work, and what do they represent?
Gold ETFs are open-ended mutual fund schemes that track the price of gold, with each unit typically representing one gram of 99.5% pure gold, allowing investors to trade in gold on stock exchanges.
What are gold mutual funds, and how do they invest in gold?
Gold mutual funds are open-ended funds that invest in units of Gold ETFs, providing a diversified investment in gold without directly purchasing physical gold or ETF units.
Can investments in Gold ETFs and gold mutual funds be made easily in Karnataka?
Yes, investments in Gold ETFs and gold mutual funds can be made conveniently through digital platforms like Groww, offering hassle-free and easy access to gold investments.
Gold Rates in Top cities
City
22k Gold
24k Gold
Delhi
₹15,000.00
₹15,000.00
₹15,000.00
₹15,000.00
Kolkota
₹15,000
₹15,000.00
₹15,000.00
Mumbai
₹15,000
₹15,000.00
Chennai
₹15,000
₹15,000.00
Jaipur
₹15,000
₹15,000.00
Author
Harish Malhi
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