If you’re seeking gold in Karnataka, look no further! Here is the latest on the price of gold in various cities across the state, as of September 5, 2023:
24-Carat Gold Rates in Karnataka
City 1 Gram (24K) 10 Grams (24K)
Karnataka INR 5,498 INR 54,978
22-Carat Gold Rates in Karnataka
City 1 Gram (22K) 10 Grams (22K)
Karnataka INR 5,040 INR 50,396
Explore Gold Buying Options in Karnataka
When it comes to purchasing gold in Karnataka, you have a plethora of options available. Take a look at the following avenues:
Exquisite Gold Jewelry
Whether you prefer to shop through dealers or browse eCommerce websites, you can find physically stunning gold jewelry in various purity scales, ranging from 18 to 24 carats. Banks and NBFCs also offer opportunities to invest in gold coins.
Invest in Gold Saving Schemes
Authorized NBFCs and retailers provide gold saving schemes, allowing individuals to invest in gold by depositing a fixed amount of money every month. This installment-based approach grants access to jewelry at the end of a specific tenure. As a special incentive, some jewelers even offer to pay the final installment on behalf of the buyer.
Seize Sovereign Gold Bonds (SGBs)
The Reserve Bank of India (RBI) introduces SGBs, which serve as bonds where each unit is equivalent to 1 gram of 24-carat pure gold. Individuals can purchase up to 4 kilometers of gold through SGBs. The cost of SGBs is determined based on The average closing prices of gold during the three working days prior to the subscription period.
Embrace Digital Gold
Investing in digital gold has become increasingly popular. This method allows you to invest in smaller fractions of gold at your convenience. You can engage in digital gold investment through the following means:
– Gold Stocks and Gold Exchange Traded Funds (ETFs):Buy gold stocks through stock exchanges, such as NSE and BSE, which represent shares in gold companies. Similarly, gold ETFs can be acquired via mutual fund companies. The value of these stocks and ETFs are influenced by the performance of domestic gold prices. Each gold ETF unit is backed by pure physical gold and is equivalent to 1 gram of gold.
– Gold Accumulation Plan: Platforms like Paytm, Phonepe, and Stock Holding Corporation of India’s Gold Rush plan offer gold accumulation plans that enable investors to purchase digital gold for as little as INR 1.
Discover the Best Places to Sell Gold in Karnataka
When it comes to selling gold, Karnataka offers a range of options:
Gold Loans: Secure loans backed by gold are provided by banks and NBFCs. Individuals and businesses can pledge their gold as collateral for these loans, which are typically offered up to 75% of the loan-to-value ratio (LTV) of the gold 。 Interest rates are added to the equated monthly installments (EMIs) for the duration of the loan.
Retailers: Gold owners can also choose to sell their jewelry to reputable retailers. By presenting the purchase invoice, which includes details such as weight, place and date of purchase, and the value at the time of purchase, individuals can obtain an attractive deal for their precious metal.