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Gold Rate Today in Karnataka - 22 Carat and 24 Karat Gold Price in Karnataka ( 7th December 2022)

Gold in the year 2000 cost 4,400/10 grams of gold. In 2010, this rate had jumped to 18,500. Do you know what today’s gold rate in Karnataka is? The price of today’s gold rate in Karnataka is a whopping 51,350/10 gm for 24K gold! Here’s how you too can use the present gold rate in Karnataka to your advantage when investing in gold. Let’s take a look at the gold rate today in Karnataka.

What is the Gold Rate Today in Karnataka?

The 22-carat gold rate in Karnataka today is ₹ 5045/gm of 22K gold. The 24-carat gold rate in Karnataka is ₹ 5297/gm of 24K gold as 7th December 2022.

The rising today’s gold rate in Karnataka per gram can be because of a slew of factors which we will go into. Before that, take a look at gold rate variations in Karnataka over the last 10-days. 

Gold Rate in Karnataka For Last 10 Days 

Here’s how the 22k gold rate today in Karnataka and the 24-carat gold rate in Karnataka have performed over the last 10-days. Note the consistent price rise.

Date

10 Gram (22 K)

10 Gram (24 K)

07 December 2022

₹ 50450

₹ 52970

06 December 2022

₹ 50750

₹ 53290

05 December 2022

₹ 50600

₹ 53130

04 December 2022

₹ 50600

₹ 53130

03 December 2022

₹ 50400

₹ 52920

02 December 2022

₹ 49900

₹ 52400

01 December 2022

₹ 49700

₹ 52190

30 November 2022

₹ 49600

₹ 52080

29 November 2022

₹ 49700

₹ 52190

28 November 2022

₹ 49700

₹ 52190

27 November 2022

₹ 49700

₹ 52190

Historical Prices of the Gold Rates in Karnataka

Take a look at the prices over the last 3-months.

Months

Lowest Price 24 Carat Gold Rs. Per 10 Grams

Highest Price 24 Carat Gold Rs. Per 10 Grams

November 2022

46,910

50,330

October 2022

46,970

48,550

September 2022

46,280

47,960

 

Factors Affecting the Gold Prices in Karnataka

Since March 2020, the gold rate in Karnataka has shown a steady rise over 90 days. Here’s why the gold rate today in Karnataka changes:

  • High demand, low supply : The demand and supply of gold can affect the prices. 
  • Inflation - Gold is a good bet against inflation. Investors prefer to buy gold when inflation starts rising because then the value of gold climbs.
  • Fluctuating currency rates: The exchange rate of the Rupee to USD fluctuates, and it affects the gold rates.

Final Gold Price

Gold rates vary depending on all these and more. Many factors contribute to the final selling price that may differ from jeweller to jeweller. Let us consider the 18-carat gold rate in Karnataka today since it is prevalent in Karnataka for jewellery making. The final jewellery price can be arrived at using this:

The final jewellery price is equal to [Gold Weight in grams multiplied by the 18-carat gold rate in Karnataka today. Wastage and Making charges 3% GST on the final price arrived at including cost, wastage, making charges, etc.]. 

There are plenty of modern options whereby you can invest in gold and get better returns. 

Gold Investments 

Let’s learn about the choices of investing in gold. You can buy gold today in a variety of methods. Take a look at your options.

  • Physical Gold: You can buy jewellery or bullion (coins/bars) at 916 gold rate in Karnataka at banks, jewellery shops, etc.
  • Digital Gold: This is gold bought on platforms like Khatabook help you to start saving small and keep accumulating gold in an insured locker till maturity. 
  • Derivatives and trading in gold as a commodity at the current gold rate in Karnataka is riskier and involves trading on the stock market.
  • SGBs or Gold Sovereign Bonds are government-backed bonds and have an 8-year term with 2.5% returns. They are like fixed deposits.

What Documents are Needed When Investing in Gold? 

  • Physical gold purchase requires no documents, brokerage or Demat account. However, keep the purchase receipt and BIS certification carefully. 
  • If investing Rs. 2 lakhs or more on jewellery, coins, bars etc., you need the PAN Card and identification with name and address like Voter ID/ Passport/ Aadhar Card. 
  • For Digital Gold and ETFs, one must open a brokerage account and a Demat account with the ETF seller firm.
  • For SGBs, digital gold, etc., very little paperwork is needed and no Demat account is involved.
  • For mutual funds, you will need a brokerage and Demat account.

Why Investing in Gold is a Smart Choice?

Indian households hold 25,000 Tons of gold in jewellery and bullion, four times the total stored gold in Indian banks and the governmental holdings! Let's quickly understand how Gold investments compare.

Physical Gold

Gold Funds

Digital Gold

This investment is made in physical gold like bullion/jewellery at the gold rate today 22k in Gujarat

The charges levied are the equivalent of the price, making charges and GST. 

The rate of physical gold is quoted as gold rate today in Gujarat 22k and it carries the risk of burglary and insurance charges. 

It has no paperwork hassles, though its BIS certification and purchase receipt are essential when selling.

 

The investment is in the exclusive fund from companies in gold mining. 

Gold funds add a nominal charge as fund management charges to the gold rate today in Gujarat.

The paper gold suffers no risk of theft. These require paperwork when investing, and the fund certificate is needed when trading it in at the maturity value. 

Gold funds are dependent on the profits made by the gold mining company and not the gold rate today in Gujarat live.  

The investment is made digitally and can be of any value accumulating units of gold, where 1 unit=1 gm of physical gold. 

It includes brokerage fees, asset management charges, and physical gold cost at 916 gold rate in Gujarat

It has no risk of theft since it is paper- gold till the time of delivery. 

The paperwork is simple, and gold is kept in insured vaults until it is delivered. 

The gold rate in Gujarat 916 affects the price directly. 

Buy units of digital gold on the reputed platform of Khatabook.

 

 Here’s the performance comparison of these investments.

Factor

Gold

Bank Fixed Deposit

Risk Factor

It is vulnerable to being stolen and involves additional costs in insurance, storage etc.

FD is a low-risk option with a fixed term and low-interest rates are often unattractive during the recession.

 

ROI Analysis

If you make an annual buy of gold for 5 years, historical prices indicate a return earning of 18% CAGR.

FD’s interest rates are linked to the term and offer an annual rate of 5-6% with an additional 0.5% for senior citizens.

 

Premature Closure

Gold provides you with both early liquidation and gold loan options.

In contrast, there is a 1% penalty of the interest earned on the premature closure of an FD.

Liquidity

Gold is a high liquidity investment that is easy to sell. Digital gold units are exchangeable for physical gold,

Whereas, the liquidity of the FD depends on the bank’s discretion.

 

Necessary Checks When Buying Gold Jewellery

Here’s what to check when buying gold jewellery:

  • Verify the gold rates: Gold rates vary daily, across locations and even by the moment on the stock market. Before investing, do take a look at the 22-carat gold rate in Karnataka.
  • Wastage and Making Charges: The final price of jewellery in Karnataka is higher than today gold rate in Karnataka 916 and can be calculated as the Final jewellery price= gold weight in grams multiplied by the day’s gold rate plus an approximate 10 to 20% in making and wastage charges plus the GST applicable at 3% of the purchase price.
  • Ensure BIS Certification: The BIS or Bureau of Indian standards certifies the purity of gold. The most popular 22K gold bears the BIS-916 hallmark, meaning that every 100gm of gold contains 91.6gm of pure 24k gold. 
  • Check the purity levels: 24K gold is 99.94% pure. However, it is not malleable and needs the addition of Copper, Silver etc. The alloyed gold has less pure gold in it, and you have a choice of gold such as 22K, 18K, 14K, 10K etc. 
  • Check the purchase bill, and buy-back terms: The buy-back rates decide the profit you make. Most jewellers assure customers of buyback facilities and exchange of jewellery on a gram-to-gram basis charging only making and wastage charges.

Types of Gold

Pure Gold is 24K while gold in jewellery is generally 22K. 18K options of white and rose gold are trendy today in the jewellery segment and are closely tied to the18-carat gold rate in Karnataka today.

Comparative Chart for 22K, 24K and 18K Gold:  

    24K Gold

22K Gold

18K Gold

99.94 gms to every 100gms of gold.

91.67 gms to every 100gms of gold.

75 gms to every 100gms of gold.

Yellow 

Yellow 

Depends on the alloy.  

Available as coins/bars. 

Available as coins, bars and ornaments.

Available as gold ornaments.

Used in making jewellery, for industrial purposes, and in medical measuring devices.

Used in gold ornaments making.

Used in gold ornaments making.

Most pure and expensive.

Lower purity and costs compared to 24k gold.

Lower purity and cost compared to 24 or 22K gold.

Digital Gold 

Digital gold is a preferred investment today in Karnataka. The investment is made digitally and gold is sold as units of pure gold, where 1 unit =1 gm of physical gold. This means you can accumulate money in your account starting as low as Rs 1/- and buy a unit of gold at the daily rates. The seller firm will help you open a Demat account with simple paperwork when investing, and the charges include fees on brokerage, asset management charges, etc. Digital gold/ ETF has ZERO risk of burglary/theft as your gold is stored in insured online vaults till the time of delivery. Buy digital gold on the reputed platform of Khatabook.

You can sell it from home or convert it to physical gold at will and liquidate it as 24k gold on the Khatabook digital platform. You can buy pure gold online on your mobile phone with a few clicks on the app without the need of stepping out. Just remember that to convert it into physical gold, you have to buy jewellery, coins, bars and it is delivered at home without any hassles.

Availing Gold Loans

Physical gold, jewellery etc., can raise 90% of its value or today’s gold rate in Karnataka as a secured loan in times of distress.  A secured loan is offered by most banks, NBFCs etc., with gold as the collateral. It fetches up to 90% of the gold value as a loan to be repaid with bank interest within the specified time. A default causes the lender to auction the gold collateral. 

Where to Buy Gold in Karnataka

You can buy gold jewellery across Karnataka. Many factors influence the price-sensitive gold market, so be careful when buying gold jewellery. You can also buy jewellery online from reputed websites like Krishna Jewellers, Bluestone, Tanishq, Kalyan Jewellers etc. Karnataka has a choice of jewellery stores. Take your pick.

Jeweller

Location  

Ganjam Jewellers 

Bangalore

Kalyan Jewellers

Mangalore

Bhima Jewellers 

Mysore

Potdar Brothers Jewellers

Belgaum

Mahalaxmi Jewellers

Gulbarga

Hooli Jewellers

Hubli

Abharan Jewellers 

Shimoga

Final Words:

Are you deciding on buying gold as an investment at the gold rate in Karnataka? You will need to track the daily gold rates, and foreign currency rates since these have a  bearing on your gold investment. Make the right choices and risk tolerance when building your investment portfolio. Platforms like Khatabook allow you to create your account with them. Buy and save your desired gold in grams at the gold rate in Karnataka using Net banking, UPI, Wallets etc. which are convenient and have low risk. Happy investing!

FAQs

Q: What is the gold rate today in Karnataka?

Ans:

The 22-carat gold rate in Karnataka today is ₹5045/gm and the 24-carat gold rate in Karnataka is ₹5297/gm as of  7th December 2022

Q: Why do prices rise during the wedding season?

Ans:

During weddings Indians buy gold and the demand accounts for 50% of the gold demand where poor families buy 4 to 5 gms and the rich buy 4 to 5 kgs. Hence the price rise due to higher demand.

Q: How much gold does an Indian household normally invest in?

Ans:

In India about 7% of the household savings is spent on jewellery purchases according to RBI data from 2009-2010. The Center for Monitoring Indian Economy pegs it at one-third and more.

Q: How is the purity of gold determined?

Ans:

The purity of gold is determined by referring to the carats of the BIS certification.

Q: What are the different varieties of gold?

Ans:

The different varieties of gold according to their purity are 24K, 22K, 18K, 14K and 10K.

Q: What is 916 gold?

Ans:

It refers to the BIS (Bureau of Indian Standards) certified 916 gold and means that the gold is 91.6% pure.

Q: What is meant by gold stocks/shares?

Ans:

Shares in gold production/mining companies are also a good investment and depend on the profits of the company, not on the gold rate.

Q: What is an ETF?

Ans:

ETFs are electronically traded funds traded on the stock market at the gold rate today 22k in Karnataka. 1 ETF=1 gm of gold and can be traded in or exchanged for the physical gold.

Q: What is meant by Digital Gold?

Ans:

This is gold bought on the digital platform and platforms like Khatabook that allow you to start saving small and accumulating gold in an insured locker till maturity. You can exchange it for physical gold that will be delivered to your doorstep in tamper-proof packaging.

Q: What is meant by physical gold?

Ans:

Physical Gold can be bought over the counter, at banks, jewellery shops etc as jewellery or bullion (coins/bars) at the 916 gold rate in Karnataka.

Disclaimer :
The information, product and services provided on this website are provided on an “as is” and “as available” basis without any warranty or representation, express or implied. Khatabook Blogs are meant purely for educational discussion of financial products and services. Khatabook does not make a guarantee that the service will meet your requirements, or that it will be uninterrupted, timely and secure, and that errors, if any, will be corrected. The material and information contained herein is for general information purposes only. Consult a professional before relying on the information to make any legal, financial or business decisions. Use this information strictly at your own risk. Khatabook will not be liable for any false, inaccurate or incomplete information present on the website. Although every effort is made to ensure that the information contained in this website is updated, relevant and accurate, Khatabook makes no guarantees about the completeness, reliability, accuracy, suitability or availability with respect to the website or the information, product, services or related graphics contained on the website for any purpose. Khatabook will not be liable for the website being temporarily unavailable, due to any technical issues or otherwise, beyond its control and for any loss or damage suffered as a result of the use of or access to, or inability to use or access to this website whatsoever.
Disclaimer :
The information, product and services provided on this website are provided on an “as is” and “as available” basis without any warranty or representation, express or implied. Khatabook Blogs are meant purely for educational discussion of financial products and services. Khatabook does not make a guarantee that the service will meet your requirements, or that it will be uninterrupted, timely and secure, and that errors, if any, will be corrected. The material and information contained herein is for general information purposes only. Consult a professional before relying on the information to make any legal, financial or business decisions. Use this information strictly at your own risk. Khatabook will not be liable for any false, inaccurate or incomplete information present on the website. Although every effort is made to ensure that the information contained in this website is updated, relevant and accurate, Khatabook makes no guarantees about the completeness, reliability, accuracy, suitability or availability with respect to the website or the information, product, services or related graphics contained on the website for any purpose. Khatabook will not be liable for the website being temporarily unavailable, due to any technical issues or otherwise, beyond its control and for any loss or damage suffered as a result of the use of or access to, or inability to use or access to this website whatsoever.