Today Gold Rate per Gram in Bangalore
Before venturing out to sell your gold, you must know and understand today’s gold rate per gram in Bangalore. Since the prices are dynamic, researching the rates on the day of the transaction is imperative.
Gold Rate in Bangalore in last 12 months
| Last 12 Months | Highest Gold price (24 karat) | Lowest Gold price (24 karat) |
|---|---|---|
| March 2022 | Rs.5,140 Per gram | Rs.5,380 per gram |
| February 2022 | Rs.5,145 per gram | Rs.4,877 per gram |
| January 2022 | Rs.4,982 per gram | Rs.4,835 per gram |
| December 2021 | Rs.4,961 per gram | Rs.4,830 per gram |
| November 2021 | Rs.4,998 per gram | Rs.4,830 per gram |
| October 2021 | Rs.4,856 per gram | Rs.4,709 per gram |
| September 2021 | Rs.4,814 per gram | Rs.4,673 per gram |
| August 2021 | Rs.4,909 per gram | Rs.4,725 per gram |
| July 2021 | Rs.4,901 per gram | Rs.4,615 per gram |
| June 2021 | Rs.5,040 per gram | Rs.4,610 per gram |
| May 2021 | Rs.5,030 per gram | Rs.4,777 per gram |
| April 2021 | Rs.4,920 per gram | Rs.4,544 per gram |
Historical Price of Gold Rate in Bangalore
There has been a long-standing tradition of investing in Gold in Bangalore. The market price has been affected by several domestic and international factors over the years.
| Last 10 Years | Highest Gold price (24 karat) | Lowest Gold price (24 karat) |
|---|---|---|
| Gold Rate in 2021 | Rs.5,236 Per gram | Rs.4,484 per gram |
| Gold Rate in 2020 | Rs.5,756 Per gram | Rs.4,125 Per gram |
| Gold Rate in 2019 | Rs.3,232 Per gram | Rs.3,029 Per gram |
| Gold Rate in 2018 | Rs.3,208 Per gram | Rs.2,649 Per gram |
| Gold Rate in 2017 | Rs.2,766 Per gram | Rs.2,500 Per gram |
| Gold Rate in 2016 | Rs.2,964 Per gram | Rs.2,254 Per gram |
| Gold Rate in 2015 | Rs.2,569 Per gram | Rs.2,223 Per gram |
| Gold Rate in 2014 | Rs.2,723 Per gram | Rs.2,261 Per gram |
| Gold Rate in 2013 | Rs.3,109 Per gram | Rs.2,277 Per gram |
| Gold Rate in 2012 | Rs.2,742 Per gram | Rs.2,613 Per gram |
Factors Affecting Gold Rate in Bangalore?
Gold rate in Bangalore is affected by several domestic and international factors including crude oil prices and economic conditions. Here are some of them in detail:
- Inflation: Market fluctuations are an intrinsic factor in deciding the gold price in Bangalore. As the demand increases, the price of gold in Bangalore, like the rest of India, rises according to the rate of inflation.
- Gold Reserves: The Reserve Bank of India holds gold reserves in the country. An influx in gold reserves is an indicator of an increased inflow of cash in the domestic market. This affects the price of gold in Bangalore significantly.
- Gold Market: Indians have a history and tradition of investing in gold jewellery, coins, etc. This causes heavy shifts in the demand and supply of gold, affecting its price. For example, during the wedding season, the demand for gold is high, so the price increases if the supply is short.
Various Gold Investment Options Available in Bangalore
There are several ways of investing in gold in Bangalore. They are:- Investing in Gold Jewellery: Investing in gold jewellery is an age-old tradition in India. They become great gifts and offer extensive financial security to the buyer. Since gold prices are always on the rise and require minimal maintenance, buying gold jewellery is considered to be a great investment option.
- Investing in Gold Coins or Gold Bars: Investing in gold jewellery is a popular option, but many prefer investing in gold coins or bars instead. This option saves them from making charges which are applicable to gold jewellery. But customers should ensure to buy gold bars and coins only from reputed jewellers or registered banks.
- Investing in Gold ETF: Gold ETF or Exchange Traded Fund is a type of mutual fund which gives the customers the freedom to invest in gold in small quantities, or as per requirement. Gold ETFs can be sold anywhere in India with complete transparency at nominal charges.
How to Calculate Gold Rate in Bangalore?
A committee or an association in Bangalore decides the prevailing gold rate for the day. The members of such a committee are the top jewellers and traders of gold in Bangalore. The gold price is decided upon several factors such as local tariffs, duties, etc. If the government raises the duties and tariffs, the price of gold in Bangalore rises and vice versa. The government levies such duties to curb excessive consumption and maintain an equilibrium in the demand and supply of gold in the market.
How to Sell Old Gold Jewelry for Cash in Bangalore?
Muthoot Gold Point offers a convenient and transparent platform for its customers to sell their gold for instant cash. Selling gold jewellery with Muthoot Gold Point involves the following steps:
Step 1: Customers visit their nearest Muthoot Gold Point branch and get their gold evaluated.
Step 2:The gold jewellery is cleaned thoroughly with ultrasonic machines to remove any dirt. This process is done in front of the customer.Step 3: The value, weight and purity of gold is checked on XRF machines before the customer.
Step 4: Based on the value, weight and purity of the gold, it is evaluated as per the current market rate of gold in Bangalore.
Step 5: If the customer is satisfied with the evaluation, they can hand over the gold to the representative. Muthoot Gold Point offers instant cash up to Rs 10000. If the amount is above Rs 10,000, the amount is transferred to the customer’s bank account.
