Gold rates around the world are determined after taking a number of factors into consideration, with market fluctuations, global demand, government taxes and purity of gold dictating the final price one pays. Gold rates in Udupi vary on a daily basis, with 24 karat gold costing significantly more than 22 or 18 karat gold.
24 karat gold – These are popular as pure gold investments, thanks to them being 99.9% pure. Taking a cue from international trends, gold rates in the city have been going up, with 1 gram of 24 karat gold currently costing Rs 2,968 (as of March 10, 2016). The year 2015 was a good time for residents to purchase gold, thanks to a poor performance on the back of an impending Federal Rate Hike, which led to prices falling to lows of Rs 2,515 in mid-2015. Since January 2016, gold prices have steadily climbed up, jumping by over Rs 400 in the last three months.
22 karat gold – 22 karat gold is perhaps the most popular option when it comes to buying gold in Udupi, thanks primarily due to its blend of purity and affordability. Its 92% purity index makes it around Rs 200 cheaper per gram compared to 24 karat gold. Witnessing a trend similar to 24 karat gold, prices have gone up since January 2016, currently trading at Rs 2,760 per gram (as of March 10, 2016). Gold prices fell below the Rs 2,300 mark per gram in 2015 and hovered around Rs 2,400 per gram for a major portion of the year.
Gold Rate Trend in Udupi for January 2018 to March 2018 (per gram of 24 karat gold)
| Factor | January | February | March |
| 1st day | Rs.2,953 per gram | Rs.2,998 per gram | Rs.3,014 per gram |
| Last day | Rs.2,998 per gram | Rs.3,014 per gram | Rs.3,019 per gram |
| Highest price | Rs.3,032 per gram on 25 January | Rs.3,031 per gram on 20 February | Rs.3,045 per gram on 25, 26, 28 and 29 March |
| Lowest price | Rs.2,947 per gram on 4 and 5 January | Rs.2,951 per gram on 8 February | Rs.2,977 per gram on 19 March |
| Trend | Incline | Incline | Incline |
| Change | 1.52% | 0.53% | 0.16% |
Gold Rate Trend in Udupi 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 Udupi for December 2017:
- When the month of December began, gold in Udupi was priced at Rs.2,932 per gram. This rose to Rs.2,942 per gram on the 2nd – the month’s highest rate – as demand was high.
- US president Donald Trump’s rather controversial tax update strengthened the US dollar briefly, which pushed gold rates down.
- Gold rates in Udupi were at their lowest on the 13th of December when it traded at Rs.2,859 per gram. This happened due to strong equity markets and weak local demand.
- When the month came to an end, gold was last seen trading at Rs.2,941 per gram.
- Overall, gold price trends saw a slight incline of 0.30% over this month.