We’ve dedicated this article to understanding occurrence of gold. However, we’ve intentionally confined the attributes of it to discussing the gold rate in Karnataka particularly.
So, we’ll discuss about the gold rate in Karnataka today. We’ll discuss the parameters that impact the gold rate and all about 916 gold.
With all the post pandemic impacts, the world as we knew has gone upside down. However, there is one very fascinating thing going around the world. The gold rate continues to increase everyday and, that brings us to this particular article.
For your convenience, we even charted a graph depicting the gold rate variation in Karnataka in some time. In short, we’ll dig deep to understand the stand points for both 22 and 24 carat gold rates in Karnataka. But most importantly, we will lay some definitive insights on gold rate in Karnataka live.
22 Carat Gold Rate in Karnataka – Gold Price in Karnataka Today
Also, Check out the Silver Rate in Karnataka Today
India’s been known as the ‘golden bird’ in ancient times. Our nation gained that stature due to its diversity in spices.
However, times have changed and, we believe the ancient name resonates more with modern day India. We specifically say that as one of the largest gold importing countries.
In fact, we’re even one of the largest hoarders of house hold gold. This is otherwise known as the 22 carat gold. This is not the purest of gold available to us.
However, it is known to be the most potent for jewellery making purposes. Anyway, this section talks all about the 22 carat gold rate in Karnataka, you need to read out carefully!
24 Carat Gold Rate in Karnataka Today – Gold Price in Karnataka
Unlike the 22 or 18 carat gold, 24 carat has no impurities. In fact, it is the purest form of gold we get post mining and cleaning procedures.
This is more fragile than its counterparts, and cannot be used for ornamental purposes. However, 24 carat Gold Rate in Karnataka is high as this category is costliest form of gold available.
It’s primarily used for hoarding purposes to elevate the economic stature. This enables the individual and institutional investors to subdue the effects of economic depreciation.
Anyway, we’ve put this section to help you understand pure gold price in Karnataka.
Check out some amazing Gold Calculators
|Karnataka Gold Investment Calculator||Gold Rate Calculator of Karnataka|
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Gold Price in Karnataka for Last 15 Days
Gold price in Karnataka over the last 15 days has been really interesting. In fact, the price chart for both 22 and 24 carat gold are almost identical for the last 15 days. That’s why we’ve created this section.
It’ll give you more information about the minute fluctuations and major elevations in gold rate. Moreover, it’s all focused on the state Karnataka. So, you’ll be able to get a better understanding of the situation within the state.
Find Gold Rates of other Indian Cities & States
|Gold Rate in Tirunelveli||Gold Rate in Ahmedabad||Gold Rate in Odisha||Gold Rate in Indore|
|Gold Rate in Udupi||Gold Rate in Chandigarh||Gold Rate in Patna||Gold Rate in Kanpur|
|Gold Rate in Warangal||Gold Rate in Goa||Gold Rate in Coimbatore||Gold Rate in Madurai|
Graph of Gold Rate Today in Karnataka – Also Past Gold Price in Karnataka
We’ve already mentioned the gold rate in Karnataka as on today. However, you must understand that gold rate is a dynamic figure. In fact, the gold rate on a specific day is determined on the basis of multiple factors.
That’s why we’ve created this very section. It includes a detailed historical data on gold rate in Karnataka and, it’ll help you understand the current stature of the yellow metal!
Gold Price in Karnataka – Past 6 Months Price
As investor, you must understand the root of any price fluctuation. That’s why we recommend using at least 6 months’ worth of historical data to go with. This way, you get to track down any major changes in the past.
At the same time you can even figure out a pattern for the rate changes. Here’s some relevant data for gold rate in Karnataka in the last 6 months!
Gold rate analysis in Karnataka for August 2020
|Gold Rates in August 2020||22 Carat Gold Rate||24 Carat Gold Rate|
|01-08-2020||₹ 5,065||₹ 5,525|
|08-08-2020||₹ 5,248||₹ 5,725|
|15-08-2020||₹ 4,965||₹ 5,418|
|22-08-2020||₹ 4,950||₹ 5,400|
|31-08-2020||₹ 4,800||₹ 5,324|
|Highest Rate in August||₹ 5,280||₹ 5,760|
|Lowest Rate in August||₹ 4,800||₹ 5,239|
Karnataka is one of the biggest South-India states and is highly developed in every aspect. A huge portion of the Indian population migrates to this state in search of a living. Its capital city Bengaluru is known for the largest IT hub in the country that houses millions of IT professionals.
People in this state love flaunting gold and this metal is an integral part of their style statement. A large number of gold traders reside in Karnataka who deals with a huge amount of this commodity every day.
Below the rates attained by this precious yellow metal are mentioned for August 2020 and readers should not miss out on them. This data will help them immensely if they are investing in any form of gold shortly.
- The opening price of one gram of 22 Ct Gold was Rs.5065 and the closing rate was Rs.4800 per gram
- 24 Ct Gold rates were Rs.5525 per gram at the beginning of August 2020 and Rs.5324 per gram at the end of the month
- The highest and the lowest values attained by one gram of 22 Ct Gold were Rs.5280 and Rs.4800 respectively
- The maximum price of 24 Ct Gold in this month was Rs.5760 per gram and the minimum was Rs.5239 for a gram
- 22 Ct Gold had a very good performance percentage of 10% and the same for 24 Ct Gold was 9.94% which is a decent figure
July 2020, Gold Rate Movement in Karnataka
|Gold Rates in July 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-07-2020||₹ 4,605||₹ 5,020|
|08-07-2020||₹ 4,600||₹ 5,016|
|15-07-2020||₹ 4,650||₹ 5,070|
|22-07-2020||₹ 4,727||₹ 5,157|
|31-07-2020||₹ 5,050||₹ 5,500|
|Highest Rate in July||₹ 5,050||₹ 5,500|
|Lowest Rate in July||₹ 4,535||₹ 4,945|
We have documented the table to let you know about the gold price for both the 22 carat and 24 carat gold. In this regard, note that we made the evaluation for the month of June 2020 about the gold rate in Karnataka.
Our concern is to help you make an informed purchase so that you can invest without any ambiguity in mind. Therefore follow the below pointers to have an idea on the gold price.
- The highest gold rate for 22 carat gold was recorded as Rs 5,050.
- The lowest gold price for 22 carat gold was Rs 4,535.
- Highest price for 24 gold was witnessed for the month of June 2020 was Rs 5,500.
- The lowest gold price for 24 gold was recorded as 4,945 Rs.
- The percentage performance of 22 carat gold was noticed as 11.36%.
- On the other hand, we evaluated the percentage performance of 24 carat gold as 11.22%.
June 2020, Gold Rate Movement in Karnataka
|Gold Rates in June 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-06-2020||₹ 4,421||₹ 4,822|
|08-06-2020||₹ 4,351||₹ 4,748|
|15-06-2020||₹ 4,458||₹ 4,868|
|22-06-2020||₹ 4,538||₹ 4,950|
|30-06-2020||₹ 4,568||₹ 4,983|
|Highest Rate in June||₹ 4,575||₹ 4,990|
|Lowest Rate in June||₹ 4,325||₹ 4,722|
People of Karnataka are extremely enthusiastic about buying gold jewelry and this portion of the article will help them invariably. It addresses the highest and lowest rates of 22 Ct and 24 Ct Gold and the performance of this commodity in this state for June 2020.
Readers should follow the details and analyze them properly before they invest in this metal.
- 22 Ct Gold rate was the highest at Rs.4575 per gram and the lowest at Rs.4325 per gram in Karnataka for this month
- The highest price of 1 gram of 24 Ct Gold was Rs.4900 which was quite higher than many other states
- The lowest price of 24 Ct Gold was Rs.4722
- Gold rates took a good jump between the second and third week of this month
- The percentage change in gold rates were 5.78% for 22 Ct Gold and 5.68% for 24 Ct Gold
May 2020, Gold Rates in Karnataka
|Gold Rates in May 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-05-2020||₹ 4,392||₹ 4,681|
|08-05-2020||₹ 4,321||₹ 4,618|
|15-05-2020||₹ 4,368||₹ 4,773|
|22-05-2020||₹ 4,421||₹ 4,824|
|31-05-2020||₹ 4,404||₹ 4,803|
|Highest Rate in May||₹ 4,489||₹ 4,897|
|Lowest Rate in May||₹ 4,298||₹ 4,247|
As lockdown ended, a lot of things began to change. This however, was not the case with gold rate in Karnataka. You see, despite of many expert opinions, gold rate in Karnataka did not drop even a notch.
In fact, it went quite the other way round in Karnataka. We’ve already put in a table concerning this right above. However, the next few points draw the major aspects from the table, in case you found it difficult to read. So, here they are:
- Highest rate for 22 carat gold in May 2020 in Karnataka was Rs.4,489.
- Lowest rate for 22 carat gold in May 202 in Karnataka was Rs.4,298.
- Highest rate for 24 carat gold in May 2020 in Karnataka was Rs.4,897.
- Lowest rate for 24 carat gold in May 202 in Karnataka was Rs.4,247.
- The overall rate performances in 22 and 24 carat gold were very different. In fact, 22 carat gold performed at an average rate of 4.44%. However, the 24 carat gold rate performed extraordinarily at 15.30%.
- The table merely enlists gold rate in Karnataka per gram across five weeks. The listings are made in a difference of 7 days each.
April 2020, Gold Rate Movement in Karnataka
|Gold Rates in Apr 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-04-2020||₹ 3,861||₹ 4,060|
|08-04-2020||₹ 3,969||₹ 4,423|
|15-04-2020||₹ 4,058||₹ 4,426|
|22-04-2020||₹ 4,006||₹ 4,350|
|30-04-2020||₹ 4,419||₹ 4,706|
|Highest Rate in Apr||₹ 4,492||₹ 4,765|
|Lowest Rate in Apr||₹ 3,861||₹ 4,055|
We’ve already mentioned that gold rate is a dynamic quantity. This means, it changes almost everyday as per certain parameters.
Therefore, we’ve drafted a separate table for gold rate movement in Karnataka during April 2020. Now, you might have some problems deciphering the table.
That’s why we’ve even figured out the major take away from the table. Here’s a list of them all:
- Rate of 22 carat gold on 1st April 2020 was registered at Rs.3,861. This was even the lowest Gold Rate in Karnataka per Gram of this segment throughout the month.
- However, 24 carat gold initiated with a rate of Rs.4,060. This was the lowest price of this segment throughout the month too.
- 22 carat gold went as high as Rs.4,492 during April 2020. This was the highest registered price for the metal then.
- On the contrary, 24 carat gold rate went even higher. It marked a slab worth Rs.4,765.
- April 2020 was pretty much the month of high performances. Even the gold rates across all segments proved this to be true. In fact, 22 carat gold rate performed at 16.34%. However, the 24 carat gold rate performed a bit low comparatively. It’s performance made a record of 17.51%.
March 2020, Gold Rate Movement in Karnataka
|Gold Rates in Mar 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-03-2020||₹ 3,898||₹ 4,093|
|08-03-2020||₹ 4,167||₹ 4,371|
|15-03-2020||₹ 4,016||₹ 4,217|
|22-03-2020||₹ 3,868||₹ 4,062|
|30-03-2020||₹ 3,866||₹ 4,058|
|Highest Rate in Mar||₹ 4,167||₹ 4,371|
|Lowest Rate in Mar||₹ 3,768||₹ 3,960|
The table above justifies gold price in Karnataka per gram. In fact, it depicts the gold price changes across 22 and 24 carat segments discretely. However, we acknowledge that dismantling the table into simpler formats can be tiresome. That’s why we’ve organized all the major takeaways of the table underneath. So, here’s what the table says in total:
- Gold price movement in Karnataka is frequent. That’s why we can see sudden bulge in the 2nd This is also why you can see the curve lowering for the rest of the month. This is true for both 22 and 24 carat segments.
- The highest 22 carat in Karnataka per gram was Rs.4,167. This was during March 2020.
- However, the highest price reached by 24 carat gold in this period was Rs.4,371.
- The lowest price for 22 carat gold was however, Rs.3,768, and, that of the 24 carat gold segment was recorded at Rs.3,960.
- March wasn’t the best month for gold investors. However, it did fairly well. This can especially be said by the 22 and 24 carat gold performances. The former went for 10.59% performance. However, the later performed equally well at 10.38%.
February 2020, Gold Price Movement in Karnataka
|Gold Rates in Feb 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-02-2020||₹ 3,827||₹ 4,019|
|08-02-2020||₹ 3,774||₹ 3,959|
|15-02-2020||₹ 3,825||₹ 4,011|
|22-02-2020||₹ 3,948||₹ 4,146|
|29-02-2020||₹ 3,998||₹ 4,200|
|Highest Rate in Feb||₹ 4,033||₹ 4,239|
|Lowest Rate in Feb||₹ 3,774||₹ 3,959|
We’ve included a table for gold rate in Karnataka per gram during Feb 2020. It shows 5 discrete stats for 22 and 24 carat gold segments. Here’s the detailed output you can get from the table above:
- Highest 22 carat gold rate in Karnataka during Feb 202 was considerably more than Jan 2020. In fact, it was recorded for Rs.4,033
- The lowest price for this segment was however recorded at Rs.3,774 per gram.
- Fluctuations in the rate of 24 carat gold had entirely different story. The highest price for this segment reached at Rs.4,239 per gram.
- However, the lowest price for this segment was recorded at Rs.3,959 per gram.
- Both the segments performed equivalently. Their respective performances were recorded at 6.86% and 7.07% each.
January 2020, Gold Price Movement in Karnataka
|Gold Rates in Jan 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-01-2020||₹ 3,662||₹ 3,841|
|08-01-2020||₹ 3,782||₹ 3,968|
|15-01-2020||₹ 3,696||₹ 3,886|
|22-01-2020||₹ 3,774||₹ 3,961|
|30-01-2020||₹ 3,776||₹ 3,963|
|Highest Rate in Jan||₹ 3,864||₹ 4,056|
|Lowest Rate in Jan||₹ 3,662||₹ 3,841|
This is the part where you get to discover about gold price in Karnataka during Jan 2020. It consists of a detailed table with all the intricate data.
However, in case you do not understand the table completely, there’s nothing to worry. That’s because we have compiled a list of all takeaways from the table right below:
- 22 carat gold price in Karnataka went as high as Rs.3,864 during this period. This occurred during the last week of the month.
- However, 24 carat gold went even higher. It recorded a substantial high of Rs.4,056.
- The lowest point for the 22 carat gold was however at Rs.3,662.
- On the other hand, the 24 carat hold fell down to merely Rs.3,841.
- Another important takeaway from the table above is the overall performance of both of these segments. There wasn’t much difference in the performance of either of them. While the 22 carat gold performed at 5.52%. The 24 carat gold rate performed slightly better at 5.60%.
December 2019, Gold Rate Movement in Karnataka
|Gold Rates in Dec 2019||22 Ct Gold Rate||24 Ct Gold Rate|
|01-12-2019||₹ 3,587||₹ 3,766|
|08-12-2019||₹ 3,548||₹ 3,724|
|15-12-2019||₹ 3,533||₹ 3,709|
|22-12-2019||₹ 3,571||₹ 3,754|
|30-12-2019||₹ 3,660||₹ 3,847|
|Highest Rate in Dec||₹ 3,660||₹ 3,847|
|Lowest Rate in Dec||₹ 3,531||₹ 3,705|
We’ve included the change in gold rate in Karnataka for Dec 2019 in here. It consists of 24 carat gold rate in Karnataka throughout Dec 2019. It even describes about the 22 carat gold price. Just take a look and you’ll understand:
- 22 carat gold rate in Dec 2019 was highest during the 5th It was recorded at Rs.3,660.
- 24 carat gold rate on the other hand went as high as Rs.3,847. However, even this rate was acquired during the 5th week of the month.
- The lowest rates for 22 and 24 carat gold were Rs.3,531 and Rs.3,705.
- The overall difference in the highest and lowest rate of both categories went nearly as much as Rs.140.
- Both the segments performed well within expectations. The 22 carat gold rates went for 3.65%. However, the 24 carat gold rates in Karnataka recorded 3.83% performance.
Gold Rate in Karnataka – Trend in 2020
Today gold rate in Karnataka hass already been mentioned. This keeps on changing and is basically unlike previous days. In fact, the entire gold rate trend in Karnataka for 2020 has been up.
Both 22 carat and 24 carat gold categories have shown positive inclination throughout the year so far. Although, the graphs for the price change in 22 and 24 carat gold are different.
The first one plots 5 major upwards trends. However, the second one has only four.
Moreover, the second one shows a steep downfall around 9th June, which is not the case for the first graph. In fact, the first one shows an uptrend on the same day. Having that said, we must acknowledge that both graphs are almost identical till 6th April 2020. So, the gold rate for both categories have been on an uptrend overall.
Check out Gold Rates of more cities & states
Gold Rate in Karnataka – Trend in 2019
Gold trend in 2019 in Karnataka was not much different than that in 2020. The rate for both the segments moved up with a mild set back around 4th and 5th week of the month.
For this very part, we’ll consider the rate of the 24 carat segment. So, you may observe that the highest rate for this segment in Jan 2019 was observed at Rs. 3,364.
It went up to Rs. 3,486 by Mar 2020. Although the rate went down by a significant factor in April 2019. We recorded the highest rate in April 2019 at Rs. 3,232.
Nevertheless, the upward trend in the price was again regained by May 2019. It went to as high as Rs. 3,251 in May 2019 and, by the end of the year, the rate was recorded as high as Rs. 3,998 per gram.
This occurred in the month of Dec 2019. In short, you may say that historical gold rate record for 2019 showed an overall up trend in the rate of the yellow metal!
What makes Gold Rates in Karnataka to increase?
You’ve seen many graphs and table depicting the trends in the gold rate. Also, the reasons for the various slopes and curves depicted in the graphs are many. So, we’ve dedicated this segment for this exact matter and all you need to do is take a quick look:
- You must understand that India is one of the largest importers of gold and, that’s because of the importance it holds in our culture! You see, all the religions in our country hold different significance for this metal. Nevertheless, it is important to us all. That’s why the change in universal trade laws and policies impact us the most. So, you may say that the rise on price for 24 carat gold across the world will directly raise the price of it in India as well.
- Another important factor is the current pandemic. See, gold acts in an inverse relation to economy and, since the world economy took a huge hit due to the Covid 19 pandemic, the price of gold increased.
What makes Gold Price in Karnataka to decrease?
Gold price in Karnataka decreases pretty much for the same reasons as its increase. Anyway, here’s a set of logical reasons why it happens:
- Gold has a lot more value as compared to most of the articles. This enables the metal to retain its value for a longer period. However, it still is an article and, all of the gold that’s once dug out is practically still here. Therefore, it also (although rarely) follows in the law of demand and supply. This means, that with surplus of demand, it will increase in price and vice versa!
- We’ve already established that international trade polices play an important role in gold rate. Therefore, if the policies require the importers to pay less tax, then the gold price across Indian states also decreases.
Why Central Bank Policies impacts Gold Rates in Karnataka?
Gold rate in Karnataka today was established after including multiple parameters. One of the major parameters includes the policies of the Central Banks. You see, banks hold on to gold as a measure of economic safety. They tend to lose their gold reserves in times of economic crises.
This enables them to generate funds and balance the value of the Indian Rupee in contrast of the U.S. Dollar. In short, the gold prices elevate as the value of the Indian Rupee depreciates. This condition stays the same during counteractive situations. This means that the gold prices drop when the Indian Rupee elevates in value.
Why Gold Price in Karnataka is different from other Cities?
Gold rate in Karnataka is determined by numerous factors. However, there is one major factor that distinguishes the gold rate in Karnataka from other states. Much like other states, Karnataka has its local bodies controlling the movement of gold in and out of the state.
These bodies usually consist of the jewellers and state council representatives and, they decide on the amount of the gold to be used during a certain day and even a certain month by the local jewellers. However, they take into consideration multiple factors before coming onto a conclusion.
These factors include the occurrence of any festivals, demand of gold in the state and national policies.
What is Gold Rate in Karnataka 916 Hallmark gold?
Gold price in Karnataka and other state is determined categorically. In short, the Bureau of Indian Standards has distinguished the gold in primarily two categories. These are known as the 24 carat gold and 22 carat gold. 22 carat gold is also known as 916 gold.
That’s because it consists of the 91.6% pure gold along with some impurities like nickel and silver. 916 gold price in Karnataka today is just the same as 22 carat gold.
Find out Gold Rates of more Indian Cities & States
How much is the Tax Levied on Gold Rate in Karnataka?
Tax on gold rate in Karnataka at present is categorized in three discrete categories. This means that gold buyers in Karnataka must pay these taxes to the state government. These are:
- An import tax levied on the buyers worth 10% of their purchase volume.
- GST amount worth 3% of their total purchase volume.
- Another percentage or fixed amount is taken for making charges. This one is however, only applicable when the buyers decide to purchase or convert their gold in jewellery form.
Gold Rate in Karnataka – Conclusion
We created this article to detail you on gold rate in Karnataka. So, we gave you a clear picture of the fluctuations in gold rate with the help of multiple graphs and table. We even briefed you on the sort of taxes levied on gold across Karnataka.
We told you about the reasons that determine a raise or fall in the gold price across the state. Finally, we told you about the types of gold there are.
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