May 11
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Gold Rate in Mangalore
Most consumers in Mangalore buy gold jewelry for auspicious occasions, festivals, and weddings. Dhanteras and Akshaya Tritiya attract long queues in front of jewelry stores. In addition to its obvious ornamental uses, gold is used as a safe hedge against inflation and depreciation of other financial assets.
Trend of Gold Rate in Mangalore for March 2018 (rates per gram for 24 karat gold)
| Parameters | Gold price (24 karats) |
| Gold Rate on 1st March | Rs.3,014 per gram |
| Gold Rate on 31st March | Rs.3,019 per gram |
| Highest Rate in March | Rs.3,045 per gram on 25, 26, 28 and 29 March |
| Lowest Rate in March | Rs.2,977 per gram on 19 March |
| Overall Monthly Performance | Incline |
| Percentage Change | 0.16% |
March 2018- Week 1 (1-4)
- While there were no significant fluctuations in the price of gold in Mangalore in the first week of March, there was a steady drop in the value of gold.
- The month opened with gold trading at Rs.3,014 per gram, with prices falling to Rs.2,987 per gram on 2 March due to declining retail demand.
- Prices recovered marginally as industrial demand was steady, resulting in prices rising to Rs.3,003 per gram on 4 March.
March 2018- Week 2 (5-11)
- The second week saw gold trade at a static rate before a sharp rise in price towards the middle of the week.
- Gold was priced at Rs.3,003 per gram on 5 March as local demand did not see much movement in terms of order volumes.
- Gold price in Mangalore dropped to Rs.2,998 per gram on 7 March before jumping to Rs.3,019 per gram on 8 March as stock markets tumbled and the dollar index dropped steeply.
- Local demand could not keep up with demand, resulting in gold rate in Mangalore falling to Rs.2,993 per gram on 9 March.
- The week ended with gold priced at Rs.2,998 per gram on 11 March as retail and industrial demand fell sharply.
March 2018- Week 3 (12-18)
- The third week opened with prices unchanged from the previous week, with gold trading at Rs.2,998 per gram on 12 March.
- A drop in demand from jewelers saw gold prices fall to Rs.2,987 per gram on 13 March as international demand for gold was also muted.
- A brief rise in price was recorded on 15 March when gold rose to Rs.3,003 per gram on positive cues as well as an increase in retail demand.
- In spite of slump across bourses due to the sacking of the U.S. Secretary of State Rex Tillerson, there was no change in gold price in Mangalore.
- Demand fell as the dollar strengthened, making gold imports more expensive, with gold trading at Rs.2,982 per gram from 16-18 March.
March 2018- Week 4 (19-25)
- Gold opened weakly, trading at Rs.2,977 per gram on 19 March as local demand fell further due to a strong U.S. Dollar and poor international demand for the metal.
- A surge in demand due to shaky equity markets led to an increasing interest in gold which helped push prices to Rs.2,993 per gram on 20 & 21 March.
- Fears over the Fed taking a hardline stance to curb rising inflation led to markets falling and a rise in demand for gold, as the metal traded at Rs.3,035 per gram on 23 March.
- The week ended with gold rising to Rs.3,045 per gram on 25 March on positive international cues as well as a rise in industrial orders.
March 2018- Week 5 (26-31)
- The last week of March saw gold prices in Mangalore plunge after a strong opening due to reducing demand and declining interest in the metal.
- Gold traded at Rs.3,045 per gram on 26 March, as stable demand from industrial units and positive international cues kept prices high.
- The U.S. Dollar began to recover after a period of uncertainty, though the possible imposition of additional trade tariffs on China kept equity markets low.
- Local demand fell as jewelers reduced offtake due to the end of the wedding season which led to gold falling to Rs.3,040 per gram on 27 March.
- Gold Price in Mangalore plunged to Rs.3,014 per gram on 30 March as the dollar strengthened and domestic demand fell sharply.
- The month ended with gold priced at Rs.3,019 per gram on 31 March to record a marginal rise of 0.16% during the month.
Trend of Gold Rate in Mangalore for February 2018 (rates per gram for 24 karat gold)
| Parameters | Gold price (24 karat) |
| Gold Rate on 1st February 2018 | Rs.2,998 per gram |
| Gold Rate on 28th February 2018 | Rs.3,014 per gram |
| Highest Rate in February | Rs.3,026 per gram on 17 & 18 February |
| Lowest Rate in February | Rs.2,951 per gram on 8 February |
| Overall Monthly Performance | Incline |
| Percentage Change | 0.53% |
February 2018- Week 1 (1st – 4th)
- Gold price in Mangalore fluctuated in the first week of February, with the metal opening at Rs.2,998 per gram.
- Gold rate in Mangalore rose to Rs.3,019 per gram on 2 February due to a sudden swing by equity markets but demand soon dipped due to a decline in orders by local jewelers.
- The week ended with gold trading at a steady Rs.2,993 per gram on 4 February due to stagnant local demand and muted overseas demand.
February 2018 – Week 2 (5th – 11th)
- The second week began with no change in price before demand for gold rose, resulting in an increase in its price.
- Gold traded at Rs.2,993 per gram on 5 February and jumped to Rs.3,014 per gram on 6 February due to a sharp plunge by equities.
- Local demand was largely unaffected by the global drop in markets as gold price in Mangalore quickly fell to their lowest rates for the month, trading at Rs.2,951 per gram on 8 February.
- A slight recovery was observed as industrial units increased demand due to a fluctuating dollar rate, which kept prices stable till the end of the week.
- Prices stayed unchanged as the week drew to a close, trading at Rs.2,962 per gram on 11 February.
February 2018 – Week 3 (12th – 18th)
- A slight rise in price was recorded in the third week due to positive market trends and a marginal increase in local demand.
- Gold opened at Rs.2,972 per gram on 12 February as demand was steady after a period of some price fluctuation.
- A continued drop in the dollar rate led to an increase in interest in gold as a hedge against possible losses on the markets, resulting in the gold price in Mangalore rising to Rs.3,017 per gram on 15 February.
- International demand for gold was also on the rise, which boosted local demand and kept prices stable.
- Another sharp rise in price was observed as the week drew to a close, with gold trading at Rs.3,026 per gram on 17 February as international demand soared due to unstable equity markets.
- The week ended with the gold rate in Mangalore trading at a steady Rs.3,026 per gram on 18 February.
February 2018 – Week 4 (19th – 25th)
- The fourth week saw the gold price in Mangalore drop marginally due to a decline in local demand, as jewelers reduced demand as a rising dollar rate made imports more expensive.
- The start of the week saw gold trading at Rs.3,031 per gram on 19 February but prices soon fell as demand could not be sustained.
- International demand was also muted as investors moved away from gold bonds and funds after a recovery by equity markets.
- A relatively calm week on the geopolitical front also led to confidence in markets, which further reduced demand for gold, which traded at Rs.3,014 per gram on 20 February.
- Prices dropped further as the week drew to a close, trading at Rs.2,998 per gram on 23 February as markets rallied and demand for gold fell sharply.
- The week ended with the gold rate in Mangalore recovering to close at Rs.3,008 per gram on 25 February.
February 2018 – Week 5 (26th – 28th)
- The last week of February saw demand for gold remain more or less constant, as the metal opened the week trading at Rs.3,008 per gram on 26 February.
- Apprehension after the dismissal of the U.S. Secretary of State threw U.S. markets into chaos, though gold did not capitalize on plunging markets.
- A slight rise in gold price was recorded as the month ended, with gold priced at Rs.3,014 per gram on 28 February to record a 0.53% rise in value over the course of the month.
The trend of Gold Rate in Mangalore for January 2018 (rates per gram for 24 karat gold)
| Parameters | Gold price (24 karat) |
| Gold Rate on 1st January 2018 | Rs.2,941 per gram |
| Gold Rate on 31st January 2018 | Rs.2,998 per gram |
| Highest Rate in January | Rs.2,941 per gram on 1 January |
| Lowest Rate in January | Rs.3,020 per gram on 16 January |
| Overall Monthly Performance | Incline |
| Percentage Change | 1.93% |
January 2018 – Week 1 (1 – 7):
- When gold trading started in Mangalore for the first day of 2018, gold was priced at Rs.2,941 per gram.
- This increased to Rs.2,953 per gram on the 2nd of the month because the US dollar remained weak and cues from the global market remained positive.
- On the 3rd, gold rates in Mangalore remained unchanged at Rs.2,953 per gram as demand remained steady.
- The next day, however, saw prices drop to Rs.2,947 per gram as local demand took a hit.
- The US dollar seemed to lose its standing in the index, which caused gold rates to hit Rs.2,966 per gram on the 5th of January.
- A slight decline in rates was recorded on the 6th and gold traded at Rs.2,963 per gram which then continued on till the closing hours of the week.
January 2018 – Week 2 (8 – 14):
- When gold trading commenced for the second week of January, prices were recorded at Rs.2,963 per gram.
- Gold price in Mangalore went up to Rs.2,969 per gram the next day as there was a positive trend overseas which helped with the domestic demand.
- However, rates plunged down to Rs.2,958 per gram on the 10th as equities market were performing well owing to the US dollar picking itself up.
- The 11th saw the dollar lose its ground against a basket of other emerging currencies as a result of which gold rates rose to Rs.2,976 per gram.
- Gold price in Mangalore surged further to Rs.2,988 per gram on the 12th before stabilizing at Rs.3,000 per gram. Rates recorded on the 13th were the highest for the last seven weeks, which was made possible by a rather poor dollar.
- Strong global cues and steady local demand from industries and jewelers kept gold prices in the Rs.3,000 per gram range when the week came to an end.
January 2018 – Week 3 (15 – 21):
- Gold opened on a weak note when the third week began of January began in Mangalore. The yellow metal was priced at Rs.3,000 per gram on the 15th of January.
- Rates surged significantly to trade at Rs.3,024 per gram on the 16th as demand picked up while the dollar continued to struggle.
- As the week progressed demand seemed to subside, this cause the yellow metal to trade at Rs.3,020 per gram on the 17th of January.
- With the US dollar mounting a comeback against other currencies, gold rates in Mangalore dropped to Rs.3,004 per gram on the 18th.
- Thanks to a declining US dollar amid concerns over the government shutting down, gold prices fell to Rs.3,007 per gram on the 19th of the month.
- Once the US government shut down, gold rate inclined to Rs.3,019 per gram on the 20th of January.
- Gold continued to trade at Rs.3,019 per gram on the final day of this week.
January 2018 – Week 4 (22 – 28):
- When the fourth week of January began in Mangalore, gold was priced at Rs.2,960 per gram
- Gold rates in Mangalore increased to Rs.2,970 per gram on the 23rd of January, keeping in tune with the trends seen in other major metropolises in the country.
- As demand from jewelers rose, gold rates went up to Rs.2,977 per gram on the 24th of the month.
- The 26th recorded a Rs.31 increase in gold rates as local demand matched the trend in the international market, where a weakened dollar paved the way for higher gold sales.
- However, on the 27th, gold rates dropped to Rs.3,003 per gram as purchases from domestic buyers decreased.
- With demand remaining mostly flat, gold was last seen trading at Rs.3,003 per gram on the 28th of the month.
January 2018 – Week 5 (29 – 31):
- Gold opened at Rs.2,988 per gram when the fifth week of January began. This then continued towards the next day as well as demand was steady.
- On the final day of the month, gold was seen trading at an increased price of Rs.2,998 per gram.
- Overall, Mangalore recorded a 1.98% incline in gold prices this month, thanks to a steady rise in demand and a poorly performing US dollar.
