
Today Gold Rate in Karnataka is Rs. 47,921.00 per 10 grams for 24 Karat
(10 grams = 1 tola gold)
Today Gold Rate in Karnataka is Rs. 47,921.00 per 10 grams for 24 Karat
(10 grams = 1 tola gold)
Gold as a metal has cultural as well as investment significance. Karnataka state has one of largest gold mines of India, Kolar Gold Mines. Karnataka, like all other Indian states, has several gold investment options — gold jewellery, coins, gold ETF, Gold MF, to name a few. The prices of gold in Karnataka are influenced by a wide range of factors, from variations in US Dollar to seasonal demand in the country.
Gold Rate Today : Hyderabad | Kerala | Mumbai | Delhi | Bangalore | Pune | Kolkata | Chennai
Silver Rate Today : Bangalore | Hyderabad | Delhi | Chennai | Mumbai | Ahmedabad | Jaipur
With the introduction of the GST (Good and services tax), excise duty and VAT has been replaced with the GST of 3% on the total price of gold including making charges.
Gold Price Trend in March 2021 | |
Trend | 24 Karat Gold (Rs/10gm) |
Rate on 01-March-2021 | 47,921.00 |
Rate on 31-March-2021 | 47,921.00 |
Highest Rate | 47,921.00 |
Lowest Rate | 47,921.00 |
Month Performance | Rising |
% Change | 0.00 % |
Gold Price Trend in February 2021 | |
Trend | 24 Karat Gold (Rs/10gm) |
Rate on 01-February-2021 | 49,205.00 |
Rate on 28-February-2021 | 47,921.00 |
Highest Rate | 49,205.00 |
Lowest Rate | 47,921.00 |
Month Performance | Rising |
% Change | 2.61 % |
Gold Price Trend in January 2021 | |
Trend | 24 Karat Gold (Rs/10gm) |
Rate on 01-January-2021 | 49,970.00 |
Rate on 31-January-2021 | 49,205.00 |
Highest Rate | 50,217.00 |
Lowest Rate | 49,205.00 |
Month Performance | Rising |
% Change | 1.53 % |
Gold Price Trend in December 2020 | |
Trend | 24 Karat Gold (Rs/10gm) |
Rate on 19-December-2020 | 49,533.00 |
Rate on 31-December-2020 | 49,875.00 |
Highest Rate | 50,274.00 |
Lowest Rate | 49,533.00 |
Month Performance | Decline |
% Change | -0.69 % |
Indian Bullion Jewellers Association (IBJA) takes the international price of the gold as a base and adds applicable taxes. After that, other state jeweller associations decide on the rate at which gold will be sold to the retailers. This causes the gold rate in Karnataka to vary with other states.
Parameters | Sovereign Gold Bond | Gold ETF |
Invest via | Banks, post offices, Stock holding corporation of India | Can be purchased through stock exchanges |
Availability | Available in batches around the year | Can invest anytime just like stock |
Safety | Sovereign guarantee | Backed by equivalent physical gold |
Tenor | 8 years with an exit option available after 5th year | One can redeem the units at any time |
Storage cost | Nil, as it is in a paper form | One needs to pay expense ratio for managing the fund |
Taxation | No capital gains tax if held till maturity | Long term capital gains applicable after 3 years |
Gold in its physical form can be bought from a jeweller or via online. Here are the options to buy gold jewellery and gold coins:
Gold Jewellery: One of the oldest forms of gold investment, it can be bought from a nearest jeweller or from their official websites.It is suggested to buy gold jewellery from a reputed jeweller which gives a hallmark certificate.
Gold Coins/Bars: They can be bought from jewellers, banks, and now even from ecommerce websites such as Paytm, Amazon, Flipkart, Snap deal etc. Available in different denominations such as 1gm, 2gm, 5gm, 10gm, etc., one can choose as per their budget. It is possible that the cost of these coins differ in different websites or in shops. It could be because the cost of these coins is based on the purity, fineness, weight, etc. If you are buying gold coins for investment, go with 24KT with 999.5 fineness.
Gold comes in different varieties such as hallmark gold, BIS 916 and KDM gold. Here is the brief explanation of these three varieties:
Hallmark Gold: The process of certifying the purity and fineness of gold is called hallmarking. Bureau of Indian Standards (BIS) is responsible for hallmarking gold as well as silver jewellery. If the gold coin/Jewellery is certified by BIS, it ensures that the gold used in making adheres to the international standards of purity. Moreover, it gives consumers an assurance regarding authenticity and purity of the gold.
KDM Gold: Earlier, gold used to be combined with two or more metals to make delicate jewellery and Cadmium was used as filler to ensure its strength. This is where the term KDM gold came from. Now it is banned by BIS as it started to cause serious health issues for artisans working with it. Now cadmium is replaced with advanced solder metal such as Zinc and copper.
BIS 916 Gold: Gold is categorised on the basis of its purity such as 24K, 22K, and 18K, etc. If it is hallmarked, BIS will be added as a prefix. For e.g. 22K will be referred to as ‘BIS 916’ gold; 91.6 grams of pure 24 karat gold per 100 grams of alloy.
The purity of gold has always been one of the major concerns for buyers in India. To ensure consumers are not cheated when purchasing gold, they should know the components to look for while doing the same:
14K | 58.5% Purity | 14K585 |
18K | 75% Purity | 18K750 |
22K | 91.6% Purity | 22K916 |
For Gold Coins
Note:
Certain aspects you should know about gold are:
In case of financial emergency, gold can easily be used as collateral for you to get a loan against gold jewellery in Karnataka. To avail gold loan, approach a bank or financial institution like Muthoot, Manappuram, etc. with your gold. They will decide the amount of loan to be sanctioned based on the purity and weight of the gold jewellery. In return, the borrower needs to pay the interest on gold
Pure gold or 24K gold is too soft in nature to create jewellery with intricate designs. Hence, most of the jewellers opt for 22K/18K/14K gold for making jewellery, where alloys are used.
Hallmark certifies the purity of gold and since it is the mark of purity, it will help you if you are to sell it in the future by fetching you a right price. This means if you are buying hallmark 18K gold jewellery, it will actually mean that 18/24 parts are gold in it and rest is alloy.
You can also invest in gold via gold jewellery but having physical gold comes with its own risks such as theft, burglary, etc. Moreover making charges on gold jewellery can’t be recovered at the time of selling the items. Whereas, Sovereign gold bond is a paper gold i.e, you own gold in the form of paper and give 2.5 percent interest.