Belgaum also known as Belagavi is one of the major cities commercial hubs in the state of Karnataka. The city of Belgaum is second only to the capital city Bangalore in Karnataka in terms of exports. The government of Karnataka has, therefore, proposed to make Belgaum the second capital. Gold in Belgaum is viewed as a display of social status and wealth apart from as a safe hedge against financial uncertainty and crisis, which in many ways, drives the demand for the precious yellow metal.
Gold Rate Trend in Belgaum for January 2018 to March 2018 (per gram of 24 karat gold)
| Factor | January | February | March |
| 1st day | Rs.3,002 per gram | Rs.2,998 per gram | Rs.2,987 per gram |
| Last day | Rs.3,045 per gram | Rs.3,014 per gram | Rs.3,109 per gram |
| Highest price | Rs.3,084 per gram on 20 and 21 January | Rs.3,031 per gram on 19 February | Rs.3,045 per gram from the 25th to the 29th |
| Lowest price | Rs.3,001 per gram on 4 January | Rs.2,951 per gram on 8 January | Rs.2,977 per gram on the 19th |
| Trend | Incline | Incline | Incline |
| Change | 1.43% | 0.53% | 1.07% |
Gold Rate Trend in Belgaum for October 2017 to December 2017 (per gram of 24 karat gold)
| Factor | October | November | December |
| 1st day | Rs.2,985 per gram | Rs.2,942 per gram | Rs.2,932 per gram |
| Last day | Rs.2,942 per gram | Rs.2,947 per gram | Rs.2,941 per gram |
| Highest price | Rs.2,995 per gram on 16 October | Rs.2,961 per gram on 10 November | Rs.2,942 per gram on 2, 3 and 4 December |
| Lowest price | Rs.2,932per gram 27 October | Rs.2,907 on 6 November | Rs.2,859 per gram on 13 December |
| Trend | Decline | Incline | Incline |
| Change | 1.44% | 0.16% | 0.30% |
Gold Rate Trend in Belgaum for October 2017:
- When trading opened for the final quarter of 2017, gold in Belgaum was priced at Rs.2,985 per gram.
- Gold rates this month were on a decline owing to poor domestic demand in spite of major festivals.
- The metal’s rates fluctuated considerably over the first two weeks before hitting the month’s highest rate of Rs.2,995 per gram on the 16th of October.
- However, prices began to fall from the 17th as demand was poor due to the US dollar remaining strong.
- Gold hit its lowest rate for the month on the 27th of the month when it traded at Rs.2,932 per gram.
- The final two days of this month saw gold prices increase slightly to end at Rs.2,942 per gram on the 31st of October.
- A strong US dollar performance and the subsequent low demand for gold led to rates falling by 1.44% this month.
Gold Rate Trend in Belgaum for November 2017:
- As cues remained weak, gold opened at Rs.2,942 per gram for the month of November.
- During the first week, gold rates in Belgaum took a hit due to a strong dollar which pushed investors to exercise caution. This led to gold dropping to a monthly low rate of Rs.2,907 per gram on the 6th of the month.
- It was relatively smooth sailing of gold from the 7th onwards as prices seemed to incline consistently before trading at Rs.2,981 per gram on the 20th. This was the metal’s highest rate for this month.
- However, as demand seemed to remain flat over the final few days, gold rates began to consolidate. This led to the metal trading at Rs.2,947 per gram on the last day of this month.
- A strong demand mid-month contributed strongly to the upswing in gold prices. Price trends saw a marginal 0.16% incline over the course of the month.
Gold Rate Trend in Belgaum for December 2017:
- For the month of December, gold opened at Rs.2,932 per gram.
- The 2nd and 3rd recorded the highest gold rates – with the metal trading at Rs.2,942 per gram – as demand was steady.
- However, demand was strongly swung by the tax reform introduced by US president Donald Trump, which caused the dollar to strengthen subsequently pushing gold rates down.
- Gold rates in Belgaum went down to as low as Rs.2,896 per gram as the rallying of the US dollar continued, which caused gold demand to plummet.
- On the 13th, gold rates were at their lowest for the month. The metal traded at Rs.2,859 per gram as markets remained strong, which gave little incentive for bullion investors.
- Prices rallied as other concerns regarding Trump’s US presidency resurfaced. This, combined with a declining dollar led to consistent increase in gold prices.
- Gold traded at Rs.2,941 per gram on the last day of 2017 and December recorded a 0.30% increase in price trends.