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Gold is a significant part of Indian customs and traditions, especially in cities like Mangalore. However, prior to purchasing this asset, it is important to know about the current gold rates in the city. Let us take a look at the gold prices in Mangalore and the things to consider when purchasing gold.

Gold Price in Mangalore

The current gold rates in Mangalore are as follows:

Weight

24 Karat Gold Rate Today

24 Karat Gold Rate Yesterday

Price Difference

1 g

₹6,273

₹6,284

- ₹11

10 g

₹62,730

₹62,840

- ₹110

100 g

₹6,27,300

₹6,28,400

- ₹1,100

*Disclaimer: The aforementioned rates are subject to change as per market conditions.

22 & 24 Karat Gold Rate in Mangalore in the Last 10 Days

Here are the changes in gold prices in Mangalore over the last 10 days:

Date

Standard 22 Karat Gold

Pure 24 Karat Gold

1 g

10 g

1 g

10 g

Feb 22, 2024

₹5,750.00

₹57,500.00

₹6,273.00

₹62,730.00

Feb 21, 2024

₹5,760.00

₹57,600.00

₹6,284.00

₹62,840.00

Feb 20, 2024

₹5,735.00

₹57,350.00

₹6,256.00

₹62,560.00

Feb 19, 2024

₹5,745.00

₹57,450.00

₹6,267.00

₹62,670.00

Feb 18, 2024

₹5,720.00

₹57,200.00

₹6,240.00

₹62,400.00

Feb 17, 2024

₹5,720.00

₹57,200.00

₹6,240.00

₹62,400.00

Feb 16, 2024

₹5,710.00

₹57,100.00

₹6,229.00

₹62,290.00

Feb 15, 2024

₹5,690.00

₹56,900.00

₹6,207.00

₹62,070.00

Feb 14, 2024

₹5,700.00

₹57,000.00

₹6,218.00

₹62,180.00

Feb 13, 2024

₹5,760.00

₹57,600.00

₹6,284.00

₹62,840.00

*Disclaimer: The rates are subject to change as per market conditions.

Points to Remember When Buying Gold in Mangalore

When purchasing gold in Mangalore, consider the following points:

  • Check the current gold price in Mangalore

  • Check the gold’s purity, which is indicated by the Bureau of Indian Standards (BIS) hallmark

  • Take into account the making charges associated with the purchase

  • Ensure you receive a physical receipt and a certificate of authenticity from the seller

  • Confirm that the weight of the gold purchased is accurate

Gold Investment in Mangalore

While purchasing physical gold is a great investment, there are other avenues that you can opt for. Explore options like gold ETFs, sovereign gold bonds (SGBs), gold mutual funds, and so on. It is important to consider your financial goals and obligations, prior to making any gold investments in Mangalore.

FAQs

Where can I buy gold in Mangalore?

You can buy gold coins and bars from banks or authentic jewellers. In case you want to purchase ornaments, approach retailers like Kalyan Jewellers, Bhima Jewellers, Tanishq, etc., that operate in Mangalore.

What factors contribute to changes in Mangalore's gold rates?

Here are some aspects that may affect the gold rates in Mangalore:

  • Interplay of gold’s demand and supply in the region

  • Economic challenges like recession and inflation

  • Change in import duty and tax

  • Increase or decrease in RBI’s gold reserves

  • Fluctuations in currency value

  • Transportation costs and making charges, if applicable

How can I check the purity of the gold I purchase in Mangalore?

To check the purity of gold purchased in Mangalore you can:

  • Certification - Ask for a certificate of authenticity, which acts as proof of the gold’s purity

  • Conduct a magnet test - Gold is not ferrous and thus, does not get attracted to a magnet. However, this test is only effective with 24K gold which is 99.9% pure. This is because 22K, 18K, and 14K gold are metal alloys and have some portions of metals like nickel and copper mixed in them.
  • Machine tests - Gold retail stores have advanced machines that can be used to test the purity of the gold purchased. It will also provide you with additional information about the weight of the gold being tested.

When do people from Mangalore invest in gold more?

People invest in gold more during auspicious occasions like Dhanteras and Akshay Tritya in Mangalore and across India. Indians also gravitate towards gold investments to mitigate the effects of economic challenges like inflation.

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