Mysore is a beautiful city in Karnataka that is not only famous for its silk but also gold jewelry. People here look for Gold Rate in Mysore Today because they invest widely in this precious yellow metal.
This article will throw light upon Gold Rate in Mysore that will help readers in making wise investment decisions. Gold in both the forms of 22 Ct and 24 Ct is in demand in this city because traders and customers deal with them in a huge amount.
Here, the market trends of this year and the previous year shall be explained thoroughly along with the performance of the gold rate in the last six months.
Readers will learn about the taxes imposed on this metal and some other factors that determine the increase and decrease in Gold Rate in Mysore live.
22 Carat Gold Rate in Mysore – Gold Price in Mysore Today
Also, Check out the Silver Rate in Mysore Today
People in Mysore buy a lot of gold jewelry and so they are always interested in 22 Carat Gold Rate in Mysore. This is because this form of gold is completely suitable for making beautiful jewelry.
22 Carat Gold is not the purest form of this metal as it contains a certain amount of fillers that provide strength and durability. Mysore has a large number of gold jewelry stores that register gold sales records around the year.
These stores keep a track of the Gold Rate in Mysore Today as they sell their finished products as per the same. Therefore, customers should also learn about the latest rate for 22 Carat Gold before purchasing any gold jewelry for having a good deal.
24 Carat Gold Rate in Mysore Today – Gold Price in Mysuru
Many people of Mysore often get confused with Pure Gold Price in Mysore and start making wild guesses.
For their information, the price of 24 Ct Gold is termed as pure gold rate. Gold is extracted from the ores in the form of 24 Ct and thus, it is called the purest form of the metal.
However, this form of gold cannot be put to use for making jewelry as it is very soft. Jewelers pay the 24 Carat Gold Rate in Mysuru for buying the purest form of this metal and add fillers to it for making it suitable for jewelry.
Check out some amazing Gold Calculators
|Mysore Gold Investment Calculator||Gold Rate Calculator of Mysore|
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Gold Price in Mysore for Last 15 Days
All the gold investors and traders in the city keep checking for Gold Price in Mysore for the past 15 days. This provides them with a clear idea about how this precious yellow metal is performing in the market.
The price chart for the past two weeks also predicts whether the gold rate shall increase or decrease in the coming week. Going through the rates of this yellow metal for the last weeks, it can be said that the numbers have fluctuated to a good extent.
The rates were initially low and then they went high relatively. However, in the past 1 week, the rates are again coming lower and making it favorable for investors to take the plunge.
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Graph of Gold Rate Today in Mysore – Also Past Gold Price in Mysore
Graphs have always been a suitable form for understanding any statistics effortlessly. The same is applicable for Gold Rate in Mysore as investors get a detailed overview of the performance of this metal in the market.
Graphical representations make the whole picture clear and viewers can extract the required knowledge at a glance.
Many popular websites in Mysore put up the graphical representation of the Gold Price in Mysore that is followed extensively by the local people. It gives them an idea of whether they should consider investing in this commodity or wait for some time if the pointer is already facing downwards.
Gold Price in Mysore – Past 6 Months Price
Investors in Mysore, who have been dealing with gold for a long time, always prefer going through the rates of the previous 6 months before investing.
This is a very useful method and new investors should also try to follow this. The Gold Rate in Mysuru for the past 6 months can help them understand the trend of the market.
They will get a rough idea of the fact that whether the rates are going very high or shall decrease in the coming months. Below are the performance details for this precious metal in Mysore for the past six months.
August 2020, Gold rate movement in Mysore
|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|
The trend of a particular investment, if wished to be looked into for long term, should be looked at for many advanced months.
For example, if one wishes to invest in gold, it is necessary to check the past few months gold performance to know if it is the right time to invest or not. The below details are about the changes in gold prices for the month of August in Mysore.
- Changes in gold prices for the month of August is given in the table.
- The price fluctuation is a bell shaped curve.
- The price on the first day of the month was Rs. 5,065 per gram for 22 carat gold and Rs. 5,525 per gram for 24 carat gold.
- On the last day of the month the price changes in 22 carat gold was Rs. 4,800 per gram and for 24 carat gold was Rs. 5,324 per gram in Mysore.
- The overall performance is also calculated for 22 and 24 carat gold. The performance statistics is 10.34% and 10.36% respectively.
July 2020, Gold rate movement in Mysore
|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|
Gold trend for the month of July is discussed in this section. Gold is a precious metal that is demanded by all, therefore knowing how the change in gold rates impact its demand and vice-versa is a very important factor to take note of.
- Change in gold prices on a weekly basis is given in the table.
- The opening price was at Rs. 4,605 per gram for 22 carat gold and Rs. 5,020 for 24 carat gold. And closing rates were Rs. 5,050 per gram for 22 carat gold and Rs. 5,500 per gram for 24 carat gold.
- The last day of the month has the highest closing rate.
- And the lowest rate was Rs. 4,535 per gram and Rs. 4,945 per gram for both 22 and 24 carat gold categories respectively.
- The overall performance for the month is 11.36% for 22 carat gold and 11.22% for 24 carat gold respectively.
June 2020, Gold Rate Movement in Mysore
|Gold Rates in June 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-06-2020||₹ 4,425||₹ 4,827|
|08-06-2020||₹ 4,375||₹ 4,772|
|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|
Recent trends help investors to judge their investment in a better manner and draw conclusions on portfolio diversification. We have compiled data for the month of June and its changes in gold rates I the city of Mysore in the table below. Points for reference are also mentioned.
- Changes in numbers on five different days of the month is available in the table.
- The highest price for 22 carat gold in Mysore is Rs.4,575 per gram and lowest price is Rs.4,325 per gram for the same category.
- For 24 carat gold the highest price is Rs.4,990 per gram and lowest is Rs.4,722 per gram.
- The prices this month are volatile for both the categories in the city of Mysore.
- The overall performance for change in per gram gold rates for the city of Mysore is calculated to be at 5.78% for 22 carat gold and 5.68% for 24 carat gold.
May 2020, Gold Rates in Mysore
|Gold Rates in May 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-05-2020||₹ 4,341||₹ 4,631|
|08-05-2020||₹ 4,330||₹ 4,627|
|15-05-2020||₹ 4,395||₹ 4,790|
|22-05-2020||₹ 4,405||₹ 4,808|
|31-05-2020||₹ 4,416||₹ 4,816|
|Highest Rate in May||₹ 4,491||₹ 4,899|
|Lowest Rate in May||₹ 4,290||₹ 4,586|
Here the 22 Ct and 24 Ct Gold Rates in Mysore for May 2020 will be discussed with some useful points:
- The highest recorded price for one gram of 22 Ct gold in Mysore has been Rs.4,491
- 4,290 is the highest price recorded for one gram of 24 Ct Gold
- The lowest recorded 22 Carat Gold Rate in Mysore per Gram is Rs.4,586 and that for 24 Carat Gold is Rs.4,899 which is on the higher side
- Performance of the price of 22 Carat gold was 4.69% and that for 24 Carat gold was similar with 6.83%
- The gold prices in this city remained quite stable with fluctuation of Rs.230 for both the forms
April 2020, Gold Rate Movement in Mysuru
|Gold Rates in Apr 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-04-2020||₹ 3,865||₹ 4,057|
|08-04-2020||₹ 3,862||₹ 4,061|
|15-04-2020||₹ 4,063||₹ 4,431|
|22-04-2020||₹ 4,041||₹ 4,408|
|30-04-2020||₹ 4,395||₹ 4,680|
|Highest Rate in Apr||₹ 4,474||₹ 4,730|
|Lowest Rate in Apr||₹ 3,861||₹ 4,055|
The performance of the 22 Ct and 24 Ct Gold Rates in Mysuru for April 2020 has been discussed below:
- The highest recorded 22 Carat Gold Rate in Mysore per Gram is Rs.4,474 and that for 24 Carat Gold is Rs.4,730
- The lowest recorded price for 22 Carat gold is Rs.3,861 and for 24 Carat the price is Rs.4,055 for April 2020
- This month has marked a good performance percentage of 9.88% for 22 Ct Gold price in Mysore
- A similar percentage of 9.65% was recorded for the growth in 24 Ct Gold rate in the city
- In April this year, the prices of 22 Ct and 24 Ct gold have taken a good jump of more than Rs.400
March 2020, Gold Rate Movement in Mysore
|Gold Rates in Mar 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-03-2020||₹ 3,897||₹ 4,097|
|08-03-2020||₹ 4,167||₹ 4,374|
|15-03-2020||₹ 4,018||₹ 4,216|
|22-03-2020||₹ 3,869||₹ 4,058|
|30-03-2020||₹ 3,866||₹ 4,056|
|Highest Rate in Mar||₹ 4,167||₹ 4,374|
|Lowest Rate in Mar||₹ 3,771||₹ 3,958|
The Gold Price Movement in Mysore for March 2020 is significant as this is the last month of the financial year and can be viewed below:
- The Gold Price in Mysore per Gram for 22 Ct Gold has touched the highest value of Rs.4,167 and the lowest of Rs.3,771
- The highest price recorded for 24 Ct gold is Rs.4,374 and the lowest is Rs.3,958
- 22 Ct Gold rate in Mysore has shown a remarkable growth of 10.50%
- The performance of 24 Ct Gold rate was also noteworthy with 10.51%
- 22 Ct and 24 Ct Gold rates in Mysore have got increased in the second week but reduced at end of the month
February 2020, Gold Price Movement in Mysore
|Gold Rates in Feb 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-02-2020||₹ 3,826||₹ 4,018|
|08-02-2020||₹ 3,774||₹ 3,957|
|15-02-2020||₹ 3,822||₹ 4,014|
|22-02-2020||₹ 3,951||₹ 4,144|
|29-02-2020||₹ 4,000||₹ 4,197|
|Highest Rate in Feb||₹ 4,034||₹ 4,238|
|Lowest Rate in Feb||₹ 3,771||₹ 3,957|
Here, readers will find details of the24 Carat and 22 Carat Gold Rate in Mysore for February 2020:
- The highest recorded 22 Ct Gold price was Rs.4,034 and that for 24 Ct Gold was Rs.4,238
- 3,771 has been the lowest marked price for 22 Ct Gold Rate in Mysore per gram and Rs.3,957 for 24 Ct Gold
- The monthly performance of 22 Ct gold price in February was 6.97% and that for 24 Ct gold price was slightly better with 7.10%
- The rate of 22 Ct Gold in Mysore reduced in the second week but went up gradually from the third week of February 2020
- 24 Ct Gold rate was also fluctuating throughout the month with small ups and downs every day
January 2020, Gold Price Movement in Mysore
|Gold Rates in Jan 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-01-2020||₹ 3,658||₹ 3,842|
|08-01-2020||₹ 3,778||₹ 3,966|
|15-01-2020||₹ 3,699||₹ 3,881|
|22-01-2020||₹ 3,773||₹ 3,961|
|30-01-2020||₹ 3,776||₹ 3,962|
|Highest Rate in Jan||₹ 3,864||₹ 4,061|
|Lowest Rate in Jan||₹ 3,658||₹ 3,842|
The Gold Price in Mysore for January 2020 has been discussed below and this will help traders and investors residing in the city
- The highest recorded price for 22 Ct Gold was Rs.3,864 and for 24 Ct gold it was Rs.4,061 in Mysore
- 22 Carat Gold Price in Mysore touched the lowest price of Rs.3,658 and that for 24 Ct was Rs.3,842
- This precious jewelry metal showed an average performance of 5.63% in 22 Ct and 5.70% for 24 Ct
- The rate of 22 Ct gold can be called more or less stable for the entire month of January 2020 with small fluctuations
- 24 Ct gold price fell in the third week but again caught up the pace in the fourth week gradually
December 2019, Gold Rate Movement in Mysuru
|Gold Rates in Dec 2019||22 Ct Gold Rate||24 Ct Gold Rate|
|01-12-2019||₹ 3,587||₹ 3,769|
|08-12-2019||₹ 3,546||₹ 3,723|
|15-12-2019||₹ 3,534||₹ 3,705|
|22-12-2019||₹ 3,576||₹ 3,752|
|30-12-2019||₹ 3,661||₹ 3,848|
|Highest Rate in Dec||₹ 3,661||₹ 3,848|
|Lowest Rate in Dec||₹ 3,531||₹ 3,705|
This part of the article has brought forth the Gold Rate in Mysore for December 2019. It will help readers in getting an insight into the prices attained by this precious metal in the last month of the previous year.
- The highest recorded value for 22 Ct gold was Rs.3,661 and the lowest was Rs.3,531
- The highest 24 Carat Gold Rate in Mysuru was Rs.3,848 with lowest being Rs.3,705
- This valuable commodity has shown an average performance with 3.68% growth in 22 Ct and 3.86% in 24 Ct
- The price of 22 Ct Gold was falling steadily in Mysore in the first two weeks of December 2019 but went high in the next two
- 24 Ct Gold rate was the highest in the last two days of the previous year
Gold Rate in Mysore – Trend in 2020
The year 2020 has seen a lot of ups and downs from the first month with various agitations going on across the world. All of these have affected Gold Rate in Mysore in 2020.
The growing tensions between the United States and China have affected the global market.
This has crashed the stock markets worldwide with the price of gold going very high.
The outbreak of a serious pandemic in India and a large number of other nations can be blamed for the price fluctuations as well. But, things are getting better as Today Gold Rate in Mysore is quite suitable for investors there.
Check out Gold Rates of more cities & states
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Gold Rate in Mysore – Trend in 2019
The Gold Rate Trend in 2019 in Mysore cannot be compared with that of 2020 as things have not been favorable in the latter case. In the previous year, gold rates were increasing stably from the beginning to the end and a certain amount of predictability existed.
However, in the present year, the past 6 months did not look very bright for gold traders and the next six months cannot be predicted easily.
What makes Gold Rates in Mysore to increase?
The current conditions of the world and the local market have a huge impact on the Gold Rate in Mysore as on today. Some important factors are discussed below:
- Inflation in the global economy has led to an increase in the Gold rate in Mysore today per gram
- The hike in the valuation of the US dollars concerning the INR has increased the gold rate in this Mysore
- If the local gold market of this city faces a huge amount of demand for this valuable yellow metal
- When the treasury of the Indian government has less amount of gold
What makes Gold Price in Mysuru to decrease?
Reasons responsible for the reduction in the Gold Price in Mysore are:
- A good amount of price deduction of gold in the world gold market
- Today Gold Price in Mysuru shall be less if there are many traders in the city, i.e. the demand of gold does not meet the supply.
- If the Reserve bank of India announces an increase in the rate of interest or some good policies then the gold rate shall reduce
Why Central Bank Policies impacts Gold Rates in Mysore?
The valuation of the US Dollar rises or falls daily concerning the INR and this affects the Gold Rate in Mysore. Apart from this, another factor that affects the gold rates in this city and the whole nation is the policies of the Central Bank.
This bank creates policies that play an important role in determining the Gold Rate in Mysore Today and thus, traders keep checking the policies every day.
Why Gold Price in Mysore is different from other Cities?
Each city in India has its policies, laws, and regulations that have a huge impact on gold rates. The Gold Price in Mysore is affected widely by factors like the taxes imposed by the native government, transportation charges, etc.
If these charges are less, then the Gold Price in Mysore 916 will remain affordable for the local traders and investors and vice-versa.
What is Gold Rate in Mysore 916 Hallmark gold?
Hallmark gold is the standardization fixed for this precious yellow metal in this nation. The Gold Rate in Mysore 916 refers to the rate of 22 Carat Gold that is used in gold jewelry.
These finished products should hold the hallmark sign that is marked by the number 916 to indicate that they are made following the rules of the gold standards.
Find out Gold Rates of more Indian Cities & States
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How much is the Tax Levied on Gold Rate in Mysuru?
The price of gold goes quite high because various taxes are levied on it by the state and central governments of the nation. A GST of 5% is attracted by this valuable commodity that is charged by the central government.
Besides this, jewelry shops impose a making charge on the finished ornaments which are also exposed to 5% GST. The price of this valuable metal shall vary with the variation in the Tax on Gold Rate in Mysuru.
Gold Rate in Mysore – Conclusion
This article has focused on the Gold Rate in Mysore and helped with numerous useful details about this valuable commodity. People residing in this city should follow this article if they are planning to invest in gold shortly.
Today Gold Rate in Mysore will be affected by an array of factors and this article will help investors and traders in understanding them all thoroughly.
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