Bangalore is one of India’s most fast-paced cities that contributes significantly to the gold demand as people prefer to buy gold for various personal and investment purposes. Furthermore, apart from buying and selling gold based on the gold price in Bangalore, they also utilise it to attain a gold loan. However, as the gold price fluctuates, you must perform every gold-related transaction after checking the price of gold in Bangalore that day.
Today 22 Carat and 24 Carat Gold Price Per Gram in Bangalore (INR)
The gold rate in Bangalore based on its purity fluctuates based on the domestic market's dynamic gold price. Before buying or selling gold in the market, you must check the gold rate in Bangalore:
|Gram||22 Carat Gold Price Today||24 Carat Gold Price Today|
|Gold rate for 1 gram||₹ 6,057||₹ 6,608|
|Gold rate for 10 gram||₹ 60,570||₹ 66,080|
|Gold rate for 12 gram||₹ 72,684||₹ 79,296|
Gold Rate in Bangalore for last 10 Days
|Date||Gold price 22 Carat||Gold price 24 Carat|
|1 Gram||10 Gram||1 Gram||10 Gram|
|8-12-2023||₹ 6,057||₹ 60,570||₹ 6,608||₹ 66,080|
|5-12-2023||₹ 6,061||₹ 60,610||₹ 6,612||₹ 66,120|
|4-12-2023||₹ 6,196||₹ 61,960||₹ 6,759||₹ 67,590|
|1-12-2023||₹ 6,074||₹ 60,740||₹ 6,626||₹ 66,260|
|30-11-2023||₹ 6,077||₹ 60,770||₹ 6,630||₹ 66,300|
|29-11-2023||₹ 6,081||₹ 60,810||₹ 6,634||₹ 66,340|
|28-11-2023||₹ 5,999||₹ 59,990||₹ 6,545||₹ 65,450|
|20-11-2023||₹ 5,949||₹ 59,490||₹ 6,490||₹ 64,900|
|21-11-2023||₹ 5,685||₹ 56,850||₹ 6,268||₹ 62,680|
|20-11-2023||₹ 5,987||₹ 59,870||₹ 6,122||₹ 61,220|
Gold Price Calculator in Bangalore
Gold value: ₹ 6,057.00
What is the Current Trend in Gold Price in Bangalore?
You can determine the current trend in the gold rate in Bangalore on any given day by looking at the current gold rate and comparing it with the past rates. If the current gold rate in Bangalore is higher than the past rate, it indicates that the current trend is positive. However, if the current gold price is lower than the past rate, it suggests negative movement.
Monthly and Weekly Trends of Gold Rate in Bangalore
The demand and supply determine the monthly and weekly trends in the gold rate in Bangalore. Since these factors are dynamic and change regularly, the historical gold prices over time can help you understand the trend over the past week and month. However, the gold demand has been rising steadily in Bangalore, showing a positive movement.
Importance of Checking Gold Rates in Bangalore before Buying
The gold rate in Bangalore depends on dynamic factors that result in a fluctuating gold price. If you want to buy or sell gold in Bangalore, it is essential to check the per-gram gold rate in Bangalore before making any transaction to attain the maximum value for your gold.
Factors that Affects the Gold Prices in Bangalore
Like other Indian cities, the gold price in Bangalore also fluctuates frequently, as it depends on numerous external factors. These aspects include the following:
- Demand and Supply: The gold price will rise if the demand for gold is higher than the supply. However, if the demand for gold is lower than the supply, its price will fall.
- Currency Markets: The gold rate in Bangalore and the domestic market is associated with the currency markets, especially the US dollar rate. If the US dollar weakens, the gold rate in Bangalore falls because of weak global cues.
- Interest Rates: The prevailing interest rates in India also affect the price of gold in Bangalore as they have an inverse relationship with gold prices. If the interest rates fall, the gold price in Bangalore will rise and vice versa.
How to Calculate Gold Price in Bangalore?
The gold price in Bangalore determines the price at which individuals can buy and sell gold in the domestic market. However, before buying or selling gold in Bangalore, you must know how to calculate the gold price in Bangalore based on its current value. Listed below as the two methods to calculate the gold price and their formulas:
- Purity Method (Percentage): Gold value = (Gold’s purity x weight x gold rate) / 24
- Karats Method: Gold value = (Gold’s purity x weight x gold rate) / 100
You can also calculate the rate of gold in Bangalore based on external factors such as the demand and supply, international price and the purity of the gold. Apart from buying and selling gold in Bangalore, you can also use these methods to know its value before applying for a gold loan.
Reasons Why Gold Rates Differ Between Bangalore and Other Cities
The gold rate in Bangalore also differs from other Indian cities owing to various dynamic factors. Here are the common reasons that result in the different gold prices in Bangalore:
- Margin:The jewellers in Bangalore levy a margin over the import price of gold from international markets. As this margin varies, the gold price differs in Bangalore as well.
- Volume:The volume of bought and sold gold by the citizens of Bangalore differs from other cities as it may be higher or lower. The higher the volume of demand for gold, the lower its price and vice versa.
Gold Rates in Bangalore FAQ’s
Yes. As gold prices depend on numerous dynamic external factors, they change regularly.
You can buy the best quality gold from a jeweller or digitally by investing in digital gold.
International factors such as the value of the US dollar, international demand and supply of gold and the trading volume of gold in the commodity markets affect the gold rate today in Bangalore.
The 22 karats gold is more durable as it is sturdy and used more than the 24 karats to make jewellery.
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