Kalaburgi or Gulbarga as it was formerly known is a key center in Karnataka, having been an important town for numerous kingdoms in the past. Today, it is home to over 1.1 million people and has a decent industrial setup. Its history of being home to kings and royalty made it a prosperous area, with gold and other forms of precious minerals abundantly used.
Gold price in Gulbarga
Since a majority of the gold consumed in Gulbarga is imported, international gold prices dictate the amount one finally pays for it. Local taxes, demand and supply, import duty, etc. play a key role in estimating the price on a given day, with fluctuations in gold rates possible on a day to day basis.
24 karat gold – Keen gold investors typically opt for 24 karat gold, either in the form of gold coins or bars, thanks to their high purity content (approx. 99.9%). One gram of pure 24 karat gold in the city costs Rs 2,974 (as of March 11, 2016), with this price subject to change on a regular basis. The price trend in the last three months has been on a high, with costs going up by close to Rs 400 since January. The year 2015 saw gold prices drop to a 5 year low, with it possible to buy gold for as cheap as Rs 2,510 per gram in the month of August.
22 karat gold – 22 karat gold is a popular investment choice among those who wish to buy jewellery. The cost per gram of 22 karat gold is about Rs 200 cheaper when compared to 24 karat gold. The current price for 1 gram of 22 karat gold in Gulbarga is about Rs 2,780 (as of March 11, 2016). A trend similar to 24 karat gold was witnessed when it came to gold rates in 2015, with August being a good time to buy gold, as prices dropped to around Rs 2,350 per gram. Since January 2016, gold rates have gone up from Rs 2,370 to end at the current mark.
Gold Rate Trend in Gulbarga 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 Gulbarga 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.2,981 per gram on 20 November | Rs.2,942 per gram from 2 to 4 December and 29 December |
| Lowest price | Rs.2,932 per gram on 27 October | Rs.2,907 per gram on 6 November | Rs.2,859 per gram on 13 December |
| Trend | Decline | Incline | Incline |
| Change | -1.90% | 0.16% | 0.30% |
Gold Rate Trend in Gulbarga for October 2017:
- The final quarter of 2017 began in Gulbarga with gold trading at Rs.2,985 per gram. Gold prices would see considerable decline this month owing to poor local cues which was affected by a strong dollar.
- There were considerable fluctuations to be witnessed during the initial half of the month, with demand remaining uncharacteristically low despite the onset of a major festive season.
- Gold rate in Gulbarga were at their highest on the 16th when it traded at Rs.2,995 per gram as traders took advantage of a brief fall in the dollar.
- However, prices continued to dwindle from the 17th as demand remained mostly flat and even fell as days progressed.
- Gold price in Gulbarga were at their lowest this month on the 27th when the metal traded at Rs.2,932 per gram.
- Price trend saw a considerable decline this month with rates falling at a rate of 1.90% due to poor sales.
Gold Rate Trend in Gulbarga for November 2017:
- November’s gold trading took a positive turn as global cues was steady and the US dollar losing its lustre.
- On the 1st of November, gold was priced at Rs.2,942 per gram. The first week saw gold demand at its lowest for this month, which was seen as gold traded at a monthly low figure of Rs.2,907 per gram on the 7th.
- But, once the US dollar began to weaken amid a poor market, gold prices continued its gradual surge.
- The 20th saw gold price in Gulbarga hitting Rs.2,981 per gram figure – the highest rate for the entire month.
- But, there were fluctuations from the 21st onwards as there was no clear indication of a stable demand.
- When November came to an end gold was seen trading at Rs.2,947 per gram – a marginal high of Rs.5 from the prices seen on the 1st of the month.
Gold Rate Trend in Gulbarga for December 2017:
- December began in Gulbarga with gold trading 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 rate in Gulbarga 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.
- Price trend saw a 0.30% decline this month, thanks to a solid start to the given by strong investor sentiments.