Apr 30
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Gold Rate in Mysore
Gold rate in Mysore reflects the overall demand for the yellow metal or gold across India, which in all probability, will remain the world’s biggest consumer of gold this year, racing past China. Consumer demand in India increased by 15% to 192 tonnes this year affecting gold rates in Mysore and across the country. South India has traditionally been the largest consumer of gold in the country with several major jewelry chains spread across the region for expansion and consolidation.
The trend of Gold Rate in Mysore for March 2018 (rates per gram for 24 karat gold)
| Parameters | Gold price (24 karat) |
| 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 (1st – 4th):
- Gold opened at Rs.3,014 per gram on the 1st of March – a relatively strong note – before declining to Rs.2,987 per gram on the 2nd.
- The steep Rs.27 drop was largely due to poor local demand even though global cues remained considerably steady.
- However, gold rates went up to Rs.3,007 per gram on the 3rd, thanks to a strong local demand.
- On the 4th, prices dipped slightly to end the week at Rs.3,003 per gram.
March 2018 – Week 2 (5th – 11th):
- The second week began with gold rates still continuing at Rs.3,003 per gram before rising to Rs.3,008 per gram on the 6th.
- A slowdown in demand brought prices down to Rs.2,998 per gram, which then surged to Rs.3,019 per gram on the 8th of March.
- As demand was highly topsy-turvy, rates fell again to Rs.2,993 per gram on the 9th before moving up slightly to Rs.2,998 per gram on the 10th.
- When the week ended, gold prices were holding at Rs.2,998 per gram.
March 2018 – Week 3 (12th – 18th):
- Gold prices had dropped further over the weekend due to pure cues and the metal traded at Rs.2,987 per gram.
- The metal continued to trade at Rs.2,987 per gram the next day before rising to Rs.3,003 per gram on the 15th of the month.
- This dropped again on the 16th and the metal’s rates fell to Rs.2,982 per gram – a Rs.21 decline from the previous day.
- Demand remained muted during the next two days and gold continued to trade at Rs.2,982 per gram on the 17th and 18th respectively.
March 2018 – Week 4 (19th – 25th):
- When the fourth week of March started, the yellow metal’s rates had dropped to Rs.2,977 per gram as the US dollar remained strong while international demand was weak.
- Thanks to a shaky equity market, gold bounced back against the dollar’s stronghold to trade at Rs.2,993 per gram on 20th March.
- The 21st saw prices remain the same before dropping to Rs.3,014 per gram as demand went up.
- Talks of the Federal Reserve taking a sterner approach to curbing the inflation rose to cause markets to plummet and gold prices to rise. Gold prices went up to Rs.3,035 per gram on the 23rd, which continued on till the 24th as well.
- The final day of this week saw gold prices rise to Rs.3,045 per gram as markets were still struggling to recover.
March 2018 – Week 5 (26th – 31st):
- Gold prices in Mysore fluctuated considerably, with a sharp decline recorded on one of the days of this week.
- On the 26th, gold was still continuing at Rs.3,045 per gram, which then dropped to Rs.3,040 per gram the next day.
- The 28th saw gold rates come back up to Rs.3,045 per gram and trade at this rate till the closing hours of the 29th.
- As domestic demand declined amidst a rising dollar, gold rates went down to Rs.3,014 per gram on the penultimate day of the month.
- The final day of March saw a slight increase in prices and gold traded at Rs.3,019 per gram.
- All in all, gold price trends saw a marginal 0.16% incline this month and March turned out to be a rather topsy-turvy period for bullion investors.
Trend of Gold Rate in Mysore 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.3,031 per gram on 19 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 (1 – 4):
- Gold rates in Mysore fluctuated considerably over the course of this week. When trading began for the month, the metal traded at Rs.2,998 per gram.
- On the 2nd, gold price in Mysore rose by Rs.21 for the metal to trade at Rs.3,019 per gram as equity markets seem to underperform.
- However, demand took a hit on the 3rd and prices dropped to Rs.2,993 per gram on the 3rd and continued on at this rate towards the end of the week.
February 2018 – Week 2 (5 – 11):
- When the second week began, gold rate in Mysore were still seen holding at Rs.2,993 per gram.
- This surged to Rs.3,014 per gram on the 6th of February as demand rose considerably before falling again on the 7th.
- A negative difference of Rs.35 was recorded from the rates on the 6th to that of the next day as local demand was heavily affected by the happenings in the global market.
- Prices declined further on the 8th and gold rates went down to Rs.2,951 per gram – the month’s lowest rates – as investors decided to cut their losses.
- As the US dollar fluctuated, gold prices mounted on a recovery path, trading at Rs.2,962 per gram on the 9th of the month.
- With demand from domestic circles remaining low but steady, gold price in Mysore were unchanged over the last two days of Feb week 2.
February 2018 – Week 3 (12 – 18):
- The third week blazed on the positive path set by the previous week’s trading, leading to considerable gain in prices.
- When the week began on the 12th, the yellow metal traded at Rs.2,972 per gram. Gold rate in Mysore remained the same on the 13th as demand held steady.
- On the 14th, rates rose to Rs.2,988 per gram. This was due to the US dollar weakening amid the impending release of the inflation data.
- The 15th again saw gold prices rise – this time to Rs.3,017 per gram – as local demand picked up despite an upswing in the US dollar rates.
- Over the next three days, gold made slow and marginal gains as markets continued to remain volatile.Gold price in Mysore were recorded at Rs.3,017 per gram on the 16th, which then surged to Rs.3,026 per gram on the 17th of February.
- The week drew to a close with gold rates still holding at Rs.3,026 per gram.
February 2018 – Week 4 (19 – 25):
- Change in overnight trading positions pushed gold price in Mysore up to Rs.3,031 per gram when the fourth week began.
- As equity markets stabilized and as the US dollar improved because of it, gold rates took a hit amid poor trading. The metal sold at Rs.3,014 per gram on the 20th.
- Poor global cues and a reduced local demand caused gold to trade at Rs.3,014 per gram over the 21st and the 22nd of the month as well.
- Investors were wary of making further investments, which pushed gold rate in Mysore down further to Rs.2,998 per gram on the 23rd.
- The drastic decline seemed like a one-off event and gold prices rose to Rs.3,008 per gram the next day and continued on to the end of the week.
February 2018 – Week 5 (26 – 28):
- The final week saw gold price in Mysore rise slowly as demand seemed to be on the rise.
- On the 26th, gold was still selling at Rs.3,008 per gram, which then rose to Rs.3,014 per gram the next day.
- When the month came to an end, the yellow metal was seen trading at Rs.3,014 per gram.
- Gold rate in Mysore inclined by 0.53% this month, thanks to an improved local demand and a volatile US dollar.
Trend of Gold Rate in Mysore 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 Mysore 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 Mysore remained unchanged at Rs.2,953 per gram as demand remained steady.
- The next day, however, saw gold price in Mysore 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.
- Prices 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, gold rate in Mysore 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.
- Prices surged further to Rs.2,988 per gram on the 12th before stabilising 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 Mysore. 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 Mysore 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 and the 21st of January.
January 2018 – Week 4 (22 – 28):
- When the fourth week of January began in Mysore, gold was priced at Rs.2,960 per gram
- Gold rates in Mysore 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 jewellers 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, Mysore recorded a 1.98% incline in gold prices this month, thanks to a steady rise in demand and a poorly performing US dollar.
