Gold Price in Bangalore today - 27 May
last updated on 27 May 2022
India
Gold is a precious metal that people worldwide regard as one of the indicators of value and wealth. Moreover, it is a highly liquid asset despite the changing market prices. Therefore, it is a popular hedging instrument against financial crises and an essential investment instrument.
Knowing the prevailing market rates is important before making a purchase decision. Moreover, keeping track of the gold prices will also help you decide a good time to apply for a gold loan. Timely investments will deliver maximum returns.
Gold Value :
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Gold Prices in Bangalore for different purity
| Purity | Gold price 1 gram | Gold price 10 gram |
|---|
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Gold Prices in Bangalore for last 7 days
| Date | Gold price 1 gram | Gold price 10 gram |
|---|---|---|
| 26 May, 2022 | ₹ 5,400 | ₹ 54,000 |
| 25 May, 2022 | ₹ 6,000 | ₹ 60,000 |
| 24 May, 2022 | ₹ 6,500 | ₹ 65,000 |
| 23 May, 2022 | ₹ 7,000 | ₹ 70,000 |
| 22 May, 2022 | ₹ 7,500 | ₹ 75,000 |
| 21 May, 2022 | ₹ 6,500 | ₹ 65,000 |
| 20 May, 2022 | ₹ 7,500 | ₹ 75,000 |
Gold Rates in Bangalore According to Purity
The unit used to measure purity of gold is karats. The purest gold (99.9% pure) is 24 karats. However, it is soft and unsuitable for jewellery making. It is thus alloyed with other metals at different ratios to incorporate hardness and other beneficial characteristics. Gold of 22 karats and 18 karats are made depending on the alloying ratio. Both of these are used to make jewellery in Bangalore.
Price of gold is decided by its purity. Thus, 24 karat gold is most expensive while 18 karat is the least for the same metal weight.
Gold Prices in Bangalore in the Last Week
Bangalore is an important commercial centre. There are several dealers and jewellery makers based here. In addition, there are multiple individuals here who invest regularly. These factors generate a high market demand for gold. Increased demand leads to an overall rise in price. The cost of the metal in the past week is tabulated here.
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Weekly and Monthly Trend of Gold Rate in Bangalore
Despite fluctuating market rates, this precious metal's price shows a long-term increasing trend. It helps to understand this trend if seen visually. Therefore, the monthly and weekly trends are shown in this graph here.
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Reasons to Check Gold Rates in Bangalore
The market rate of gold decides the amount you can purchase and the amount you will receive as a loan against your jewellery. This price also determines the interest rates charged by various lenders. Compare the market and interest rates to pick the ideal lender for you.
Factors Affecting Gold Rates in Bangalore
Some of the multiple factors that affect the rate of gold in the market are:
- Market demand compared to supply
- Prevalent interest rates
- Reserve gold present with the government
- Modifications of taxation laws
- Currency fluctuations
- Inflation
- Jewellery purchasing trends
Calculating Gold Price in Bangalore
You can calculate gold's value by two different methods:
- Based on percentage purity: Gold Value = (purity x weight x rate) / 24
- Based on karat purity: Gold Value = (purity x weight x rate) / 100
Use the Rupeek gold loan calculator to know the amount of loan you can be eligible for.
To know the gold required for a loan
Step 1: Navigate to the gold loan calculator section and select 'Choose required Loan Amount'.
Step 2: Adjust the sliders to input the loan amount you need, interest rates convenient for you, and comfortable repayment duration.
The calculator will show you the total interest owed, monthly interest payable, and the amount of gold you will need for your loan.
To know the loan amount you are eligible for
Step 1: Select 'Choose available Gold Weight'.
Step 2: Adjust the sliders to enter the amount of gold you can pledge, its purity, preferred interest rates, and loan tenure.
The calculator then tells you the total loan amount applicable, total interest, and monthly interest amount payable.
Reasons for Differing Gold Rates across Bangalore and Other Cities
There is a difference in gold prices between Bangalore and other cities in India. It happens due to the following factors.
- Varying demands between the cities
- Jewellery making and labour charges variations
- Changes in taxation rules
- Varying storage and transport costs
- Seasonal variations in jewellery purchasing trends
Knowing the ongoing market rate of gold is necessary for individuals planning to purchase gold or apply for a gold loan. Pick the right timing for your investment decision to get the maximum returns.