Msyore or Mysuru is popular for palaces, the Mysore Paak and its Silk Sari. The city is also the cultural capital of Karnataka. A rich cultural context and contemporary connection is seen in Gold consumption in the city. The Today Gold rates in Mysore are sourced directly from jewellers and relevant agencies.
Gold rates for Mysore 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 Mysore and nearby towns. Gold rates mentioned on this page are exclusive of GST and making charges. The rates mentioned on this page are valid for Saligrama, Krishnarajanagara, Narasipura, and adjacent towns.
Gold & Jewellery Legacy of Mysore
Built sometime in 1300s, Mysore Kingdom extended across South India and Mysore City was the capital city. From Viayanagara empire to the empire of Tipu Sultan and the British East India company, Msyore has seen a blend of cultural practices in the last six centuries. The Wodeyar Kings as well as the Sultan rule propelled art and culture related to textiles and jewellery.
Mysore Paintings with gold foils (gesso work) have their roots connected to the Vijayanagar empire. The rich connection also involves the royal card game of Ganjeefa which was played using cards decked of precious gems. Saris with bordered golden Zari from Mysore were also made popular in the last few centuries. The reign of the Tiger of Mysore - Tipu Sultan, saw addition Mysore’s coinage The Vijayanagar empire was renowned for elaborate coins. Tipu Sultan isi reported to have taken this system to new level with Gold Mohurs and Ahamadi coins. Of late, collections belonging to Tipu Sultan have created ripples at auction houses for their numismatic value. Mysore is also popular for the Ganda Berunda (double-headed eagle) and Mysuru Addige (necklace).
The Gandaberunda, the double-eagle headed eagle, the official insignia of the state government of Karnataka was the official mascot on currency used by Vijaynagar empire. Besides Gold, Diamonds with peculiar styles from Mysore have been timeless classics from Mysore.
Contemporary Gold Trends in Mysore
A visit to the Mysore Palace should explain the legacy of Mysore and its affinity to Gold. In fact, the Amba Vilas Palace, which lights up during the annual Dasara festival, is reported to have gold- and silver-plated doors with artistic carvings. The palace was in news a few years ago after the Comptroller Auditor General of India rapped officials for not valuing a box of treasure that belonged to the empire. The trove reportedly contains rare artefacts - at least 500 items containing rare gold coins, medallions & ornaments worth billions. The collectibles were once owned by Tipu Sultan, his father Hyder Ali, former Wodeyars and the previous kings of the Vijayanagar empire.
In recent times, Mysore has undergone change from being a predominantly agrarian economy to a technology oriented one. And this has resulted in slight change in preferences. Among contemporary investment, the rural demand is seen towards gold jewellery while tech-savvy millennials prefer investing in Paper gold such as ETFs and gold bonds. Demand for jewellery usually spurts during festivals and special occasions. Makara Sankranti, Ughadi, Krishna Janmashtami, Eid, Navaratri, Diwali, Christmas, and New Year are festive occasions in Mysore that results in gold demand.
Mysore’s 24 and 22 Karat Gold rates
Mysore’s leading jewellers and associations fix the prevailing rates 24 and 22 Karat gold. For the 24-karat gold rates, the jewellers mostly factor the cost of gold in international markets and the prevailing USD-INR rates. Individual margins are also factored in to arrive at the final rate. For tallying the 22 Karat rates, the jewellers factor in several costs. These include expenses incurred on impurities (Platinum, Palladium, Silver, Nickel, Aluminium, Iron), transportation, security, and business margins. Making charges or karigar fees, dealer margins, and GST is also added before a customer is offered the quote.
Gold rate movements in Mysore:
Gold rates in Mysore may vary with some jewellers mentioning a morning and evening rate. The trend is in line with national and internationally market. Many jewellers, including the leading ones, may conduct business at a single rate throuh the day. Also, gold-buyers may find rates quoted by jewellers within the same neighborhood differ by a margin of a few rupees. Customers can decide on whether to buy depending on design and affordability. Many jewellers do negotiate when it comes to the prevailing per gram gold rate.
Trustworthy and popular jewellers in Mysore?
A popular name that traces its roots to Mysore is that of Ganjam Nagappa & Sons. The enterprise established sometime in 1889 has a legacy of over 130 years. Over seven generations have contributed to the sustenance of the hand-crafted jewellery brand. One of Ganjam's sons having understood the business secrets of gemology at a facility in Belgium was roped in by the then Wodeyar Raja in 1942. Ganjam also served as the official valuer for Nizams and several other rulers.
Jewellers can be found on the Devaraja Urs road (Mohalla) and Bangalore-Nilgiri road. Leading jewellers includes Kalyan Jewellers, Bhima Jewellers, Malabar Gold and Diamonds, and Lalitha Jewellery. Almost all jewellers are reasonable, however, we always remind 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 has turned out as 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 Mysore 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.
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