
Today Gold Rate in Mangalore is Rs. 0.00 per 10 grams for 24 Karat
(10 grams = 1 tola gold)
Today Gold Rate in Mangalore is Rs. 0.00 per 10 grams for 24 Karat
(10 grams = 1 tola gold)
Mangalore is the port city located in the west coast of India and in the state of Karnataka. Mangalore has high literacy rate and is very rich in cultural heritage. Tradition has a major influence in this city. Gold Jewellery is the symbol of status, wealth and pride according to the traditional Mangalorean concept. And in such a set up majority of consumers in Mangalore buy gold jewellery in festivals, weddings and auspicious occasions like Akshaya Tritiya and Dhanteras and demands like these drives gold prices upwards. Traditional designs and forms of jewellery are more preferred in weddings in Mangalore. People here have great appetite for the yellow metal and they value very much. They have fine taste for the intricate patterns of gold and are very specific and choosy while buying jewellery. They buy only if they are satisfied with the quality and the design. Many reputed jewellers in Mangalore offer gold articles with wide range and variety suitable for different occasions which are made up of quality gold referred to as ‘Hallmarked’. It is a standard awarded by Bureau of Indian Standards and the quality of gold is maintained as per the international purity level.
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Traditionally in Mangalore, gold is handed down from one generation to the next as a gesture of transferring the valuable possessions and inheritance. Though jewellery is predominant option for buying gold, there are some more options that the dwellers of this city relies upon when it comes to investment in gold. These are as follows:
In Mangalore gold rates are subject to various domestic and global factors. Below are the short description of these:
1. Inflation – Fluctuation in the value of currency and inflation affects gold price. Gold works as a hedging instrument against these resulting in increase in rates. When the currency weakens, gold offers better investment option.
2. Demand and Supply – Mangalore traditionally had high demand for gold and since domestic production could not keep up with the demand, gold is required to be imported. The import affects the price. During high inflation, gold purchase goes up, creating more demand and rise in gold price. Inflation within India and in global economy affects both the demand and prices in the same way. All requirements from jewellery and industry sectors compel India to import large amount of gold every year. So, the global trend of gold affects the gold rate in India as well. The production, import and the balance of demand and supply is critical in determining prices. The price of gold is not limited to the amount of the metal but includes the mining, production and processing costs as well.
3. Global Trend – The gold rate in Mangalore is highly influenced by global trend. Gold is known as a crisis commodity since people invest more in gold during turmoil in currency and failing market economy. The value of dollars goes in opposite direction from the gold rates and the effect is felt locally as well. So any global political disturbance increases gold price because consumers consider gold as the safe heaven to invest in.
4. Interest Rate — Interest rate trends are influenced by gold rate. When interest rate moves up, people tend to sell gold to utilize the money for different investment opportunities that might offer good returns. On the contrary, reduction of interest rates increase the apparent value of gold. This increases gold price since the opportunity cost to hold back gold is less compared to other investments. Currently, with the interest rate being low, gold is considered the preferred tool for investment.
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