Mangalore or Mangaluru, blessed with a rich coast-line and the local cuisine has been a gastronomist's paradise. Turns out, Gold rates in Mangalore are on the affordable side thanks to a spurt in spending power and the proximity to Kerala.
The Today Gold rates in Mangalore are sourced directly from jewellers and other agencies within the city. Gold rates for Mangalore are presented in per gram, 8 grams (Sovereign), 10 grams (Tola) and 100 grams to help readers reap benefits on their investment. To help gold jewellers and prospective customers, Sify.com also features the last 7 days and last 30 days rates for Mangalore and nearby towns. Gold rates mentioned on this page are exclusive of GST and making charges. Rates mentioned on this page are valid for Mangalore taluka that includes towns such as Ullal, Someshwar, Mulki, Kotekara and others. Rates may be similar for Puttur town.
Mangalore: Case of positive economy turning Gold consumption
Mangalore is popular for its mesmerizing temples and churches. Mangalore got its name from the 9th century Mangaladevi temple. Mangalore, Karnataka’s beautiful port-city is also home to the 17th century St Aloysius Church. But, it’s not just fish, food and culture that Mangalore is popular for. In fact, the old visuals of tile-roofed bungalows, tall coconut groves, thatched huts, and a long coast may be insufficient to define the spirit of Mangalore. Hence, two nicknames for Mangalore – The Gateway of Karnataka and The Ice Cream Capital of India.
When it comes to culture, a rich amalgamation of cultures has resulted in higher festive demand. This along with perennial tourist flow, income from fishing and port-operations, better jobs, spurt in per capita income, and comparatively higher commercial activities have made Gold popular in Mangalore. In recent times, the Mangalore Petrochemicals and other port and official dredging activities in tandem with tourism are major occupations.
For Mangaloreans, gold and jewellery may be affordable compared to northern districts of Karnataka. It takes a little over two hours to reach Kasaragod in the state of Kerala, where rates are usually a little reasonable. This is also the reason why gold rates in Puttur and Mangalore can tend to be a little on the softer side. More on the jewellers from Puttur towards the end.
Gold Investment Culture in Mangalore:
Gold investment is popular in Mangalore and mostly linked to jewellery which has a deep cultural connection. The culture in the city is cosmopolitan with religions of all faiths co-existing in harmony. The popular communities from Mangalore includes Tuluvas, Konkanis, Goud Saraswat Brahmins and Mangalorean Christians. The Bunt Sangha community hailing from Dakshina Kannada district (Udupi and Mangalore) also hail from this belt. Cities with diverse and multi-cultural practices observe a higher spending on gold and jewellery. In Mangalore, the popular occassions to buy Gold incudes Ugadi, Krishna Janmashtami (gold purchased for young kids), Ganesh Chaturthi, Dasara and Navratri. Jewellery is purchased during Christmas and New Year as well. Rituals in Hindu and Christian marriages are elaborate and one can find brides decked in jewellery.
In recent times locals have also realized the importance of commodities such as Gold and accordingly invest in gold SIPs, ETFs and jewellery schemes. A commodity or demat account can make it easier to invest in ETFs or Gold commodities. Many banks offer broking and demat services in Mangalore.
Mangalore 24 Karat Gold Rates:
The leading jewellers in Mangalore calculate rates based on supply trends and international factors such as landing price of gold and the prevailing USD-INR rate. Gold rates for 24-karat can change at least twice in a given day. Demand is higher for coins when it comes to 24 Karat rates. Bullion dealers or some of the most reputed jewellers may charge you a making charge for buying 24 Karat Gold coins and hence it is advisable to calculate the rate per gram to ensure a happy transaction.
22 Karat Gold rates in Mangalore:
Preferred jewellery in Mangalore, similar to India, is 22-karat. One can prefer 18 Karat or even 23 Karat jewellery and rates for these could be different. When it comes to jewellery rates, leading jewellers in the city would fix rates based on factors beyond international parameters. There includes cost of impurities (Platinum, Palladium, Silver, Nickel, Aluminium, Iron), transportation, security, and finally their own margins. Making charges or Karigar fees or designer fees are also tallied to arrive at the final price.
Mangalore Gold rate change:
24 and 22 Karat gold rates can change two times in Mangalore, similar to the country-wide trend. Although many jewellers, including the leading ones, may conduct business at a single rate. As a buyer you should know that the rate quoted by jewellers within the same neighborhood can differ by a margin of a few rupees. This variance is what makes gold industry competitive. Negotiations can be done on the prevailing rate as well as making charges.
Trustworthy and popular jewellers in Mangalore?
You will find jewellers in Mangalore mostly on the KMC Mercara Trunk road and Balmatta road in Hampankatta. There are a few more in Ballalbagh. You can also find jewellers operating in the over 15 malls in Mangalore offering great value and designs. Some of the leading names you may come across in Mangalore includes Kalyan Jewellers, New Mangalore Jewellers, Malabar Gold and Diamonds, Sri Lakshmi Jewellers, Abharan Jewellers, Khazana Jewellers, Tanishq, Jos Alukkas, Bhima Jewellers, and Shri Mangala Jewellers.
Puttur is slowly gaining popularity for offering value to customers keen on buying gold jewellery. Rates in Puttur tend to be on the softer side than the ones in Mangalore. However, in recent times the difference is a few rupees and may not make much difference unless the demand is on the higher side. The Main road at Puttur and Sona Bazaar are top avenues to visit for Gold jewellery. For the uninitiated, the Sona Bazaar is popular for gold shopping. Among the most oldest jeweller on Court Road is Muliya Jewellers, established some time in 1944. By 2020, Muliya expanded to neighbouring towns and has a swanky showroom in Coorg as well. Their 4,000 sq feet jewellery outlet remains Puttur’s biggest. The other popular names in Puttur includes Manjunath Jewellers, Jos Alukkas and Abharana Jewel Palace. For readers, the time from Mangalore to Puttur is almost the same to Kasaragod and hence readers can plan their trip prior to visiting jewellers.
You can find most jewellers to be reasonable, however, we always remind our readers to negotiate using the Today gold rate service to get the best benefit. Do follow our standard best practice guidelines to ensure you have a happy shopping experience.
Why subscribe to authentic rates:
Investment in Gold or bullion can always safeguard your hard-earned money from inflation. It is advised that each individual keen of building a financial portfolio should allocate 10 to 15 percent of his or her savings in gold and gold-backed assets. However, in these days of market-competition and digitization, getting accurate rates is a cumbersome task. Even a 10 rupee change in gold rates can result in a huge saving in your financial portfolio.
The gold rates in Mangalore is a way to enable customers access the latest and authentic gold rates. Having the latest and authentic rates can help buyers plan and even negotiate when it comes to buying and selling of gold and jewellery. Knowing the latest rate also helps while seeking a gold loan. As a reader engagement, Sify talks to several industry veterans and market experts to offer readers latest insights on where gold rates could head to. We request readers to bookmark this page or download Sify Gold rates app to keep a track of the latest and most accurate gold trends across India.
Disclaimer: Sify.com showcases news, analysis and gold rates with the sole objective of financial prosperity for all. The rates mentioned may vary within the same city and readers are hence advised to consult with a registered financial advisor. For any complaints, feedback, opinions or to share experiences write to firstname.lastname@example.org with the subject – Gold / Bullion.