Mangalore is a major commercial hub with a special interest in gold trade. The place observes long queues in gold shops during festivities and wedding seasons. As per experts, gold investment in this city usually goes on irrespective of the price hikes. Besides the cultural significance, many prefer to invest in gold as a hedge against inflation. Today Gold rate in Mangalore is ₹ 60,700 per 10 grams for 24 Carat and ₹ 55,650 for 22 Carat.
Gram | 24K Gold Price | Daily Price Change |
---|---|---|
1 gram
|
₹ 6,070 | + ₹ 32 |
8 grams
|
₹ 48,560 | + ₹ 256 |
10 grams
|
₹ 60,700 | + ₹ 320 |
100 grams
|
₹ 6,07,000 | + ₹ 3,200 |
Gram | 22K Gold Price | Daily Price Change |
---|---|---|
1 gram
|
₹ 5,565 | + ₹ 30 |
8 grams
|
₹ 44,520 | + ₹ 240 |
10 grams
|
₹ 55,650 | + ₹ 300 |
100 grams
|
₹ 5,56,500 | + ₹ 3,000 |
Date | Pure Gold (24K) | Standard Gold (22K) | % Change |
---|---|---|---|
05 June 2023
|
₹ 60,380 | ₹ 55,350 | 0% |
04 June 2023
|
₹ 60,380 | ₹ 55,350 | 0% |
03 June 2023
|
₹ 60,380 | ₹ 55,350 | -1.25% |
02 June 2023
|
₹ 61,150 | ₹ 56,050 | +0.54% |
01 June 2023
|
₹ 60,810 | ₹ 55,750 | -0.27% |
31 May 2023
|
₹ 60,980 | ₹ 55,900 | +0.72% |
30 May 2023
|
₹ 60,530 | ₹ 55,500 | -0.18% |
29 May 2023
|
₹ 60,650 | ₹ 55,600 | 0% |
28 May 2023
|
₹ 60,650 | ₹ 55,600 | 0% |
27 May 2023
|
₹ 60,650 | ₹ 55,600 | -0.18% |
26 May 2023
|
₹ 60,760 | ₹ 55,700 | -0.27% |
25 May 2023
|
₹ 60,920 | ₹ 55,850 | -0.80% |
24 May 2023
|
₹ 61,410 | ₹ 56,300 | +0.45% |
23 May 2023
|
₹ 61,150 | ₹ 56,050 | -0.51% |
22 May 2023
|
₹ 61,460 | ₹ 56,340 | 0% |
Gold Rates | 22 Carat | 24 Carat |
---|---|---|
1st May rate | ₹ | ₹ 802 |
31st May rate | ₹ | ₹ |
Highest rate in May | ₹ 57,260 on 6th May 2023 | ₹ 62,460 on 6th May 2023 |
Lowest rate in May | ₹ 55,500 on 30th May 2023 | ₹ on 5th May 2023 |
Over all performance | Falling | Falling |
% change | -100.00% | -100.00% |
Gold Rates | 22 Carat | 24 Carat |
---|---|---|
1st April rate | ₹ | ₹ 777 |
30th April rate | ₹ | ₹ 804 |
Highest rate in April | ₹ 56,710 on 15th April 2023 | ₹ 61,860 on 15th April 2023 |
Lowest rate in April | ₹ 54,750 on 3rd April 2023 | ₹ on 3rd April 2023 |
Over all performance | Rising | Rising |
% change | +3.47% | +3.47% |
Gold Rates | 22 Carat | 24 Carat |
---|---|---|
1st March rate | ₹ | ₹ 702 |
31st March rate | ₹ | ₹ 775 |
Highest rate in March | ₹ 55,350 on 18th March 2023 | ₹ 60,370 on 18th March 2023 |
Lowest rate in March | ₹ 50,950 on 9th March 2023 | ₹ on 2nd March 2023 |
Over all performance | Rising | Rising |
% change | +10.40% | +10.40% |
The major demand for gold in this city stems from the rural areas, thriving on agriculture. Naturally, a good monsoon brings in a good season for gold trade as well. Besides the cultural significance, locals invest heartily in gold, considering it as a hedge against inflation.
However, the reducing gold purchase power of the rural fabric has been an area of concern over the past few years.
Gold rates in Mangalore depend on a variety of domestic as well as international factors. Among the domestic factors lie festivity schedule, state taxes, octroi, demand-supply equations, interest rates trend, making charges, purity of gold (24 carat, 22 carat, and so on) and weight. Similarly, international factors include the valuation of global currencies such as the US dollar, international gold prices, foreign trade policies, and fluctuations in the international gold market.
Although gold investment in Madurai has traditionally been in the form of gold jewellery, followed by bars, coins, and bullions, the city has started to show trust in digital investments too. Locals are also investing in digital gold, Exchange Trade Funds, gold sovereign bonds, and gold futures, more than ever. These not only offer a secure storage arrangement but also ensure investment in the purest form of this yellow metal.
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