They gained entry into the house by removing the tower bolt of the main door after breaking open the window panes.
The gang members, reportedly speaking Hindi and Telegu, later tied up the owner C Radesh, a Gulf returnee, his wife and father-in-law before decamping with the gold, Rs 8,000 in cash and two mobile phones.
The gang did not harm the two children of the owner, who were sleeping in another room.
Senior police officials rushed to the spot, police said, adding that finger prints have been lifted from the house.