Gold rates in Bengaluru
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%)
Bangalore, also known as the Garden City and the Silicon City of India, has a deep-rooted fascination with gold. Being the capital of Karnataka, there's a growing interest in investing in valuable commodities.
Gold ranks high among the investments favored by the people of Bangalore. The price of gold in Bangalore today fluctuates in line with national trends.
The cost for 1 gram of 22-carat gold in Bangalore today is ₹5,880, whereas 1 gram of 24-carat gold is priced at ₹6,174.
Over time, the appetite for gold in Bangalore has noticeably increased. Those looking to buy gold should make it a point to stay updated with the daily gold prices in Bangalore.
Bangalore, also known as the Garden City and the Silicon City of India, has a deep-rooted fascination with gold. Being the capital of Karnataka, there's a growing interest in investing in valuable commodities.
Gold ranks high among the investments favored by the people of Bangalore. The price of gold in Bangalore today fluctuates in line with national trends.
The cost for 1 gram of 22-carat gold in Bangalore today is ₹5,880, whereas 1 gram of 24-carat gold is priced at ₹6,174.
Over time, the appetite for gold in Bangalore has noticeably increased. Those looking to buy gold should make it a point to stay updated with the daily gold prices in Bangalore.
24K Gold Rates Per Gram in Bengaluru
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 Bengaluru
24K Gold Rates Per Gram in Bengaluru
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 Bengaluru
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 Bengaluru
The price of gold in Bangalore, much like anywhere else, is subject to a myriad of factors that contribute to its daily fluctuations. These factors are interconnected in the global and local economic landscape, influencing the gold rates in ways that might seem intricate at first glance. Here's a detailed exploration of the elements that shape the cost of gold in the region:
Seasonal Demand:
Gold sees a significant rise in demand during festive and wedding seasons in India, a tradition that deeply influences its price. The cultural affinity towards gold in Bangalore during such times leads to a spike in its cost, as people flock to purchase gold for celebrations and gifts.
Demand and Supply Dynamics:
The classic economic principle of demand and supply plays a pivotal role in determining gold prices. When the demand for gold exceeds its available supply, the prices invariably rise. Conversely, an abundance of gold with lesser demand can lead to a decrease in price. This balance dictates the day-to-day pricing of gold in the market.
Impact of Inflation:
Gold is often seen as a hedge against inflation. As inflation increases, the purchasing power of currency diminishes, making gold an attractive investment for preserving value. Consequently, during periods of high inflation, the demand for gold increases, driving up its price as investors seek to protect their wealth from the eroding value of currency.
The Influence of the US Dollar:
Given that gold is primarily traded in US dollars on international markets, the strength of the dollar has a direct impact on gold prices. A weaker dollar makes gold cheaper for investors holding other currencies, thus increasing demand and pushing up prices. Conversely, a stronger dollar can make gold more expensive and decrease its demand, lowering prices.
Fixed Deposit Interest Rates:
Interest rates on fixed deposits also affect gold investment. Higher interest rates on fixed deposits can make them more attractive than gold, which does not offer a fixed return. This shift can lead to a decrease in gold investments, lowering its demand and price. On the other hand, lower interest rates on fixed deposits may drive investors towards gold, increasing its demand and price.
Additional Considerations:
Global Economic Stability:
Global economic indicators and geopolitical stability also influence gold prices. During times of economic uncertainty or geopolitical tensions, gold is often sought after as a haven asset, leading to an increase in demand and price.
Government Policies:
Regulations and policies regarding gold import and taxation in India can further influence its price in Bangalore. Changes in these policies can either make gold more accessible or more expensive for consumers.
In summary, the gold rate in Bangalore is a complex interplay of local demand, global economic trends, currency fluctuations, and broader economic indicators. Those interested in investing or purchasing gold should keep an eye on these factors, as they can significantly affect the cost of gold in both short and long-term scenarios.
The price of gold in Bangalore, much like anywhere else, is subject to a myriad of factors that contribute to its daily fluctuations. These factors are interconnected in the global and local economic landscape, influencing the gold rates in ways that might seem intricate at first glance. Here's a detailed exploration of the elements that shape the cost of gold in the region:
Seasonal Demand:
Gold sees a significant rise in demand during festive and wedding seasons in India, a tradition that deeply influences its price. The cultural affinity towards gold in Bangalore during such times leads to a spike in its cost, as people flock to purchase gold for celebrations and gifts.
Demand and Supply Dynamics:
The classic economic principle of demand and supply plays a pivotal role in determining gold prices. When the demand for gold exceeds its available supply, the prices invariably rise. Conversely, an abundance of gold with lesser demand can lead to a decrease in price. This balance dictates the day-to-day pricing of gold in the market.
Impact of Inflation:
Gold is often seen as a hedge against inflation. As inflation increases, the purchasing power of currency diminishes, making gold an attractive investment for preserving value. Consequently, during periods of high inflation, the demand for gold increases, driving up its price as investors seek to protect their wealth from the eroding value of currency.
The Influence of the US Dollar:
Given that gold is primarily traded in US dollars on international markets, the strength of the dollar has a direct impact on gold prices. A weaker dollar makes gold cheaper for investors holding other currencies, thus increasing demand and pushing up prices. Conversely, a stronger dollar can make gold more expensive and decrease its demand, lowering prices.
Fixed Deposit Interest Rates:
Interest rates on fixed deposits also affect gold investment. Higher interest rates on fixed deposits can make them more attractive than gold, which does not offer a fixed return. This shift can lead to a decrease in gold investments, lowering its demand and price. On the other hand, lower interest rates on fixed deposits may drive investors towards gold, increasing its demand and price.
Additional Considerations:
Global Economic Stability:
Global economic indicators and geopolitical stability also influence gold prices. During times of economic uncertainty or geopolitical tensions, gold is often sought after as a haven asset, leading to an increase in demand and price.
Government Policies:
Regulations and policies regarding gold import and taxation in India can further influence its price in Bangalore. Changes in these policies can either make gold more accessible or more expensive for consumers.
In summary, the gold rate in Bangalore is a complex interplay of local demand, global economic trends, currency fluctuations, and broader economic indicators. Those interested in investing or purchasing gold should keep an eye on these factors, as they can significantly affect the cost of gold in both short and long-term scenarios.
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 Bengaluru?
The gold rate in Bangalore, along with the metal's purity, is assessed by the Indian Bullion Association, requiring sellers to include a hallmark of purity on all their products.
The pricing of gold in Bangalore, as in other cities, is affected by worldwide trends in the global stock market.
Despite India not mining its gold, international dynamics significantly impact the purchasing capacity of both importers and the general populace.
This is because the country's gold prices are heavily influenced by external market fluctuations and economic factors.
The gold rate in Bangalore, along with the metal's purity, is assessed by the Indian Bullion Association, requiring sellers to include a hallmark of purity on all their products.
The pricing of gold in Bangalore, as in other cities, is affected by worldwide trends in the global stock market.
Despite India not mining its gold, international dynamics significantly impact the purchasing capacity of both importers and the general populace.
This is because the country's gold prices are heavily influenced by external market fluctuations and economic factors.
Necessary Documentation for Gold Investment in Bengaluru
Documentation Needed for Investing in Gold
Purchasing Physical Gold:
When buying physical gold, such as jewelry or coins, there's no need for specific documents like a brokerage or Demat account. However, keeping the sales receipt and ensuring the gold is BIS-certified is crucial for verification purposes.
Investments Above Rs. 2 Lakhs:
For any gold purchases over Rs. 2 lakhs, including jewelry, coins, or bars, it's mandatory to present your PAN Card and a valid government-issued identification. This ID should contain your name and address and can be anything from a Voter ID and Passport to an Aadhar Card.
Digital Gold and Gold ETFs:
For those looking to invest in Digital Gold or Gold Exchange-Traded Funds (ETFs), setting up a brokerage account and a Demat account with your chosen ETF provider is essential.
Sovereign Gold Bonds (SGBs) and Digital Gold Investments:
These types of investments are known for their straightforward documentation process, which generally does not require a Demat account.
Gold Mutual Funds:
To invest in gold mutual funds, investors are required to have both a brokerage account and a Demat account.
Documentation Needed for Investing in Gold
Purchasing Physical Gold:
When buying physical gold, such as jewelry or coins, there's no need for specific documents like a brokerage or Demat account. However, keeping the sales receipt and ensuring the gold is BIS-certified is crucial for verification purposes.
Investments Above Rs. 2 Lakhs:
For any gold purchases over Rs. 2 lakhs, including jewelry, coins, or bars, it's mandatory to present your PAN Card and a valid government-issued identification. This ID should contain your name and address and can be anything from a Voter ID and Passport to an Aadhar Card.
Digital Gold and Gold ETFs:
For those looking to invest in Digital Gold or Gold Exchange-Traded Funds (ETFs), setting up a brokerage account and a Demat account with your chosen ETF provider is essential.
Sovereign Gold Bonds (SGBs) and Digital Gold Investments:
These types of investments are known for their straightforward documentation process, which generally does not require a Demat account.
Gold Mutual Funds:
To invest in gold mutual funds, investors are required to have both a brokerage account 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 Bengaluru
The key factors to consider when purchasing Gold in Bengaluru:
Verify the Current Price of Gold Per Gram:
Before making any gold purchase, it's crucial to check the latest gold rate, which is usually quoted per gram. Gold prices fluctuate daily based on international gold markets, currency exchange rates, and local market conditions. Staying informed about these rates ensures you're paying a fair price. In Bangalore, gold rates can vary between different sellers, so comparing prices can be beneficial.
Obtain a Receipt for Your Purchase:
Always insist on getting a detailed receipt for your gold purchase. This receipt should include essential information such as the date of purchase, the purity and weight of the gold, the price per gram, and the total cost. The receipt serves as proof of transaction and is vital for any future exchanges, returns, or resale. It also helps in verifying the authenticity of your purchase if needed.
Understand the Various Purity Levels of Gold:
Gold's purity is measured in karats, with 24 karats (24K) being the purest form. However, 24K gold is soft and not ideal for making intricate jewelry designs, so gold is often alloyed with other metals for strength. Common purity levels include 22K, 18K, and 14K, where the number refers to the parts of gold out of 24 parts. Knowing these levels helps in making an informed choice based on durability, investment value, and personal preference.
Confirm the Gold's Certification:
Certification by reputable organizations ensures the gold's purity and authenticity. In India, the Bureau of Indian Standards (BIS) hallmark is the official mark that certifies the purity of gold jewelry. Ensure that the gold you buy is hallmarked, as it guarantees the gold content and adheres to national and international purity standards. The hallmark includes several marks: the BIS logo, the purity grade (e.g., 916 for 22K), the assaying center's identification, the jeweler's identification, and the year of marking.
Familiarize Yourself with the Terms of Buy-Back:
Before purchasing gold, inquire about the seller's buy-back policy. This policy outlines the terms under which the seller agrees to buy back the gold in the future. Understanding these terms is important as it affects the resale value of your gold. Some jewelers offer a higher buy-back value if you opt for an exchange rather than cash. The policy can vary widely among different sellers, so clarifying this beforehand can be advantageous.
The key factors to consider when purchasing Gold in Bengaluru:
Verify the Current Price of Gold Per Gram:
Before making any gold purchase, it's crucial to check the latest gold rate, which is usually quoted per gram. Gold prices fluctuate daily based on international gold markets, currency exchange rates, and local market conditions. Staying informed about these rates ensures you're paying a fair price. In Bangalore, gold rates can vary between different sellers, so comparing prices can be beneficial.
Obtain a Receipt for Your Purchase:
Always insist on getting a detailed receipt for your gold purchase. This receipt should include essential information such as the date of purchase, the purity and weight of the gold, the price per gram, and the total cost. The receipt serves as proof of transaction and is vital for any future exchanges, returns, or resale. It also helps in verifying the authenticity of your purchase if needed.
Understand the Various Purity Levels of Gold:
Gold's purity is measured in karats, with 24 karats (24K) being the purest form. However, 24K gold is soft and not ideal for making intricate jewelry designs, so gold is often alloyed with other metals for strength. Common purity levels include 22K, 18K, and 14K, where the number refers to the parts of gold out of 24 parts. Knowing these levels helps in making an informed choice based on durability, investment value, and personal preference.
Confirm the Gold's Certification:
Certification by reputable organizations ensures the gold's purity and authenticity. In India, the Bureau of Indian Standards (BIS) hallmark is the official mark that certifies the purity of gold jewelry. Ensure that the gold you buy is hallmarked, as it guarantees the gold content and adheres to national and international purity standards. The hallmark includes several marks: the BIS logo, the purity grade (e.g., 916 for 22K), the assaying center's identification, the jeweler's identification, and the year of marking.
Familiarize Yourself with the Terms of Buy-Back:
Before purchasing gold, inquire about the seller's buy-back policy. This policy outlines the terms under which the seller agrees to buy back the gold in the future. Understanding these terms is important as it affects the resale value of your gold. Some jewelers offer a higher buy-back value if you opt for an exchange rather than cash. The policy can vary widely among different sellers, so clarifying this beforehand can be advantageous.
FAQs on Gold Rates in Bengaluru
What is the current gold rate in Bengaluru?
The gold rate in Bengaluru fluctuates daily; it's best to check a reliable financial news source or jeweler for the most current rate.
How often do gold rates change in Bengaluru?
Gold rates in Bengaluru can change multiple times a day based on international market trends.
What affects the gold rate in Bengaluru?
The gold rate in Bengaluru is influenced by global market trends, demand and supply dynamics, currency exchange rates, and local market factors.
Is there a difference in rate between 22-carat and 24-carat gold in Bengaluru?
Yes, 24-carat gold, being purer, is more expensive than 22-carat gold.
Where can I find the most accurate gold rates in Bengaluru?
Accurate gold rates in Bengaluru can be found on reputable financial news websites, the Indian Bullion and Jewellers Association website, or directly from trusted jewelers.
What is the current gold rate in Bengaluru?
The gold rate in Bengaluru fluctuates daily; it's best to check a reliable financial news source or jeweler for the most current rate.
How often do gold rates change in Bengaluru?
Gold rates in Bengaluru can change multiple times a day based on international market trends.
What affects the gold rate in Bengaluru?
The gold rate in Bengaluru is influenced by global market trends, demand and supply dynamics, currency exchange rates, and local market factors.
Is there a difference in rate between 22-carat and 24-carat gold in Bengaluru?
Yes, 24-carat gold, being purer, is more expensive than 22-carat gold.
Where can I find the most accurate gold rates in Bengaluru?
Accurate gold rates in Bengaluru can be found on reputable financial news websites, the Indian Bullion and Jewellers Association website, or directly from trusted jewelers.
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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