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 ₹ 69,820 per 10 grams for 24 Carat and ₹ 64,000 for 22 Carat.
Gram | 24K Gold Price | Daily Price Change |
---|---|---|
1 gram
|
₹ 6,982 | ₹ 0 |
8 grams
|
₹ 55,856 | ₹ 0 |
10 grams
|
₹ 69,820 | ₹ 0 |
100 grams
|
₹ 6,98,200 | ₹ 0 |
Gram | 22K Gold Price | Daily Price Change |
---|---|---|
1 gram
|
₹ 6,400 | ₹ 0 |
8 grams
|
₹ 51,200 | ₹ 0 |
10 grams
|
₹ 64,000 | ₹ 0 |
100 grams
|
₹ 6,40,000 | ₹ 0 |
Date | Pure Gold (24K) | Standard Gold (22K) | % Change |
---|---|---|---|
26 July 2024
|
₹ 69,820 | ₹ 64,000 | 0% |
25 July 2024
|
₹ 69,820 | ₹ 64,000 | -1.46% |
24 July 2024
|
₹ 70,860 | ₹ 64,950 | -3.71% |
23 July 2024
|
₹ 73,580 | ₹ 67,450 | -0.37% |
22 July 2024
|
₹ 73,850 | ₹ 67,700 | -0.15% |
21 July 2024
|
₹ 73,970 | ₹ 67,800 | 0% |
19 July 2024
|
₹ 74,350 | ₹ 68,150 | -0.66% |
18 July 2024
|
₹ 74,840 | ₹ 68,600 | -0.22% |
17 July 2024
|
₹ 75,000 | ₹ 68,750 | +1.33% |
16 July 2024
|
₹ 74,020 | ₹ 67,850 | +0.52% |
15 July 2024
|
₹ 73,640 | ₹ 67,500 | 0% |
13 July 2024
|
₹ 73,750 | ₹ 67,600 | 0% |
12 July 2024
|
₹ 73,750 | ₹ 67,600 | +0.45% |
11 July 2024
|
₹ 73,420 | ₹ 67,300 | +0.30% |
10 July 2024
|
₹ 73,200 | ₹ 67,100 | 0% |
Gold Rates | 22 Carat | 24 Carat |
---|---|---|
1st June rate | ₹ | ₹ |
30th June rate | ₹ 66,250 | ₹ 72,280 |
Highest rate in June | ₹ 67,150 on 21st June 2024 | ₹ 92,950 on 22nd June 2024 |
Lowest rate in June | ₹ 65,750 on 27th June 2024 | ₹ on 1st June 2024 |
Over all performance | Falling | Falling |
% change | % | % |
Gold Rates | 22 Carat | 24 Carat |
---|---|---|
1st May rate | ₹ | ₹ 834 |
31st May rate | ₹ | ₹ |
Highest rate in May | ₹ on 1st January 1970 | ₹ ₹ 965 on 20th May 2024 |
Lowest rate in May | ₹ on 1st January 1970 | ₹ on 10th May 2024 |
Over all performance | Falling | Falling |
% change | -100.00% | -100.00% |
Gold Rates | 22 Carat | 24 Carat |
---|---|---|
1st April rate | ₹ | ₹ 775 |
30th April rate | ₹ | ₹ 835 |
Highest rate in April | ₹ on 1st January 1970 | ₹ 862.50 on 13th April 2024 |
Lowest rate in April | ₹ on 1st January 1970 | ₹ on 7th April 2024 |
Over all performance | Rising | Rising |
% change | +7.74% | +7.74% |
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.