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Gold Price in KolkataWhy to Buy Gold on Dhanteras
Kolkata is the third largest metropolitan city in India and is home to over 14 million people. The city is a hub for industries and accounts for a large chunk of all investments made in the country. Gold in India is generally not viewed as an investment opportunity and people typically keep their gold safe at home or convert it into jewelry. This mindset is however changing, and Kolkata which has one of the highest gross domestic product among Indian cities is leading the path. Fluctuating gold rates have not deterred Kolkata residents from buying gold, ensuring that Kolkata accounts for a large percentage of gold transactions in India.
Gold rate in Kolkata depends largely on market fluctuations and availability. Gold buyers can opt for either 22 karat or 24 karat gold, depending on their needs. 22 karat gold is about 92% pure and commands a lower rate than 24 karat gold, which is 99.99% pure.
Trend of Gold Rate in Kolkata for October 2016 (rates per gram for 24karat gold)
October '16 - Week 1 (1st to 7th)
- Gold rates remain unchanged in Kolkata.
- Steady demand from domestic buyers has helped rates stay constant.
- Fluctuations in the global market have not deterred buyers in Kolkata.
- Gold traded at Rs.3,244 per gram from 1st October till the end of the week.
Trend of Gold Rate in Kolkata for September 2016 (rates per gram for 24karat gold)
|1st September rate||Rs.3,218 per gram|
|30th September rate||Rs.3,244 per gram|
|Highest rate in September||Rs.3,244 per gram on 7th to 30th September|
|Lowest rate in September||Rs.3,218 per gram on 1st and 2nd September|
September '16 - Week 1 and 2 (1st to 10th)
- Gold traded at Rs.3,218 per gram at the beginning of the week.
- Rates fluctuated on account of the impact from the expectations of a U.S. Fed rate hike.
- Though economic data shows a rate hike is not possible this month, the Federal Reserve is positive about a hike in the coming future.
- Gold climbed to Rs.3,244 per gram by 7th September and stayed constant till the end of the week on account of demand in the domestic market as well as global trends.
September '16 - Week 3 (11th to 17th)
- Gold prices stayed constant this week in Kolkata.
- In the global market, gold took a hit as the U.S. Federal Reserve raised expectations of an interest rate hike this month.
- However, stable domestic demand kept gold trading at Rs.3,244 per gram through the week.
- A drop in prices is expected as the global market experiences a downturn.
September '16 - Week 4 (18th to 24th)
- Gold rates in Kolkata were constant through the week.
- Gold traded at Rs.3,244 per gram from 18th September till the end of the week.
- Stability in gold rates can be attributed to a positive climate in the global market as well as steady domestic demand.
- Prices are expected to remain stable as domestic demand is expected to remain steady in light of the festive season.
September '16 - Week 5 (25th to 30th)
- The constant trend from the previous week continued into the fifth week of September.
- Gold rates in Kolkata was unaffected by the trends in the overseas markets.
- Gold traded at Rs.3,244 per gram from 25th September to 30th September.
- Demand on account of the festive season has been stable.
|1st July rate||Rs.3,271 per gram|
|31st July rate||Rs.3,237 per gram|
|Highest rate in July||Rs.3,287 per gram on 5th to 7th August|
|Lowest rate in July||Rs.3,232 per gram on 9th August|
August '16 - Week 1 (1st to 7th)
- The price of gold in Kolkata increased marginally as the week progressed.
- Gold traded at Rs.3,271 per gram on the 1st and at Rs.3,287 per gram on the 7th of August.
- The prices increased in spite of the global trend of falling demand due to a spike in the Dollar and equity markets.
August '16 - Week 2 (8th-14th)
- Gold rates fluctuated during the second week of August.
- Gold traded at Rs.3,248 per gram on 8th August, after which it dropped and rose through the week.
- Domestic demand was high on 10th August as the festive season approaches. Gold was at its highest for the week when it traded at Rs.3,269 per gram.
- Gold dropped owing to global market trends.
August '16 - Week 3 (15th-21st)
- Gold rates stayed steady in the third week of August.
- The price of gold on 15th August was Rs.3,248 per gram.
- On 18th August, gold climbed to Rs.3,277 per gram owing to sustained demand in the domestic market as the festive season of the country approaches.
- Gold rates stayed stable at Rs.3,277 per gram going into the fourth week.
August '16 - Week 4 (22nd-28th)
- Gold rates remained stable from last week.
- Gold traded at Rs.3,277 per gram throughout the week owing to stable demand from the jewellers in the domestic market.
- Gold rates seemed unaffected by global cues as the domestic demand provided enough support.
August '16 - Week 5 (29th-31st)
- Gold rates stayed steady through the week trading at Rs.3,237 per gram.
- In the global market, gold rates dropped as the dollar gained.
- Demand from jewellers in the domestic market was sluggish, but with the festive season approaching, the demand was enough to sustain prices.
|1st July rate||Rs. 3,252 per gram|
|31st July rate||Rs. 3,292 per gram|
|Highest rate in July||Rs. 3,305 per gram on July 7|
|Lowest rate in July||Rs. 3,218 per gram from July 27 to 29|
July'16 - Week 1 and 2 (1st to 10th)
- Due to stability in the markets, prices in July rose at a steady pace.
- Gold traded at Rs.3,252 on July 1st and despite a few fluctuations, gold closed at Rs.3,281.50 on July 11th.
- With the Brexit vote and expectations of central banks providing more stimulus to the market, the appeal of gold as an investment only brightened.
- Gold traded at its highest for the week at Rs.3,305 on 7th July but dropped on July 8th owing to positive U.S. job data.
- Gold prices were stable at the start of the week before declining steadily due to lowered demand.
- Prices were recorded at Rs.3,284 per gram on the first day of the week and Rs.2,261 per gram on the last day of the week.
- Prices declined as the week progressed due to the decrease in demand domestically as well as international cues leading to falling gold rates, with prices closing Rs.23 less than the start of the week.
July '16 - Week 4 (18th to 24th)
- Gold prices in Kolkata fluctuated throughout the week but showed a trend of inclination.
- Gold traded at Rs.3,239 on 18th July and started climbing.
- Gold rates in Kolkata seemed to be oblivious to international events and trends.
- Domestic demand seems to have controlled the prices from falling and the week ended with gold trading at Rs.3,252 per gram on 24th July.
July‘16 - Week 5 (25th to 31st)
- Prices were recorded at Rs.3,243 on the 25th of July, followed by a marginal decline on the 26th which saw prices drop to Rs.3,230.
- Prices fell again by Rs.12 and settled at Rs.3,218 on the 27th.
- There was no change in prices until the 29th of the month, after which an increase of Rs.74 drove prices up and helped close the month at Rs.3,292.
|1st June rate||Rs.3,015|
|30th June rate||Rs.3,221|
|Highest rate in June||Rs.3,266 on 27th of June|
|Lowest rate in June||Rs.2,988 on 3rd of June|
Jun'16 - Week 1 (1st to 5th)
- Gold started strong going into June at Rs. 3,015 and despite a few falls, the rates stayed strong on 5th June at Rs. 3,035.
- The fall in gold rate was due to a 2-day dip in the domestic bullion market. Prices stepped up again after a renewed off take from jewellery retailers and traders was in order.
- Rates started climbing again on June 5th owing to a weaker dollar as the U.S. Labor Department released a disappointing jobs report.
- Prices seem to be rising currently, but could drop again if the U.S. Federal Reserve is able to announce a rate hike later on.
Jun'16 - Week 2 (6th to 12th)
- Gold traded at Rs. 3,046 per gram on the first three days of the second week of June.
- Gold price increased on the 9th of June as it traded at Rs. 3,079 per gram.
- Gold prices surged for the last three days of the week and held steady at Rs. 3,092 per gram.
Jun'16 - Week 3 (13th to 19th)
- Gold traded at Rs. 3,119 per gram on the 1st day of the week i.e., 13th of June.
- Gold shot up to Rs. 3,191 per gram on the 16th of June and remained unchanged on the 17th of June.
- Gold ended the week at Rs. 3,170 per gram on the 19th of June.
Jun'16 - Week 4 (20th to 26th)
- Gold opened at a strong rate of Rs. 3,155 at the beginning of the month in Kolkata and increased steadily from thereafter.
- A high demand for this metal, wedding season and reduced expectations of interest rate hike by the U.S Federal Reserve could be seen as contributing factors for the same.
- Although there were a few fluctuations throughout the week, the strength of prices was maintained.
- At the beginning of the week, the price of gold was Rs.3,155 and closed at Rs. 3,259 per gram on the 26th of the month.
- The highest price for the week was noted from the 24th to 26th at Rs. 3,259 per gram.
Jun'16 - Week 5 (27th to 30th)
- Gold rates varied during the course of the week as small declines were written off by subsequent gains.
- Prices were recorded at Rs.3,259 on the 27th of June and Rs.3,221 on the 30th of June.
- The overall decline in prices during the course of the week was relatively short thanks to global and domestic cues ensuring that there was not much room for change.
|1st May rate||Rs. 3,018 per gram|
|31st May rate||Rs. 3,003 per gram|
|Highest rate in May||Rs. 3,157 per gram on May 7|
|Lowest rate in May||Rs. 3,026 per gram on May 25|
May'16 - Week 1 (1st to 7th)
- Gold rates recorded a slight decline at the start of the week before gaining slightly mid-week and increasing towards the end of the week.
- Prices were recorded at Rs.3,018 on the 1st of May and Rs.3,157 on the 7th of May.
- Despite marginal increases, prices were somewhat stable thanks to global and domestic cues ensuring that there was not much room for change.
May ‘16 - Week 2 (8th to 14th)
- Gold rates recorded a slight decline at the start of the week before gaining slightly mid-week and increasing towards the end of the week.
- Prices were recorded at Rs.3,157 on the 8th of May and Rs.3,111 on the 14th of May.
- Prices remained unchanged for the first four days of the week before falling by Rs.49 and then rising by Rs.3 by the end of the week, ensuring that there was not a significant difference in prices between the start and end of the week.
May ‘16 - Week 3 (15th to 21st)
- Gold rates fluctuated marginally on the first four days of trading after which they gained stability and recorded an increase on the final day of trading in the week.
- Prices were recorded at Rs.3,131 on the first day of the week and Rs.3,092 on the last.
- Prices remained unchanged for the first two days of the week before falling slightly on the next two day and then remaining constant until Friday, and recorded an increase of Rs.73 on the last day of the week.
May ‘16 - Week 4 (22nd to 28th)
- Gold rates fluctuated constantly through the last week of May.
- Gold prices were recorded at Rs. 3,087 on the 22nd of May and Rs. 3,003 on the 28th of May.
- The prices saw a rise and fall through the week, but overall, the rates declined by the end of the week, remaining constant for the last two days.
May ‘16 - Week 5 (29th to 31st)
- The price of gold in Kolkata was relatively stable throughout the month of May with minor fluctuations.
- There were no changes in the price of gold during the last week of May. Due to high demand and domestic and global cues, gold traded at Rs. 3,003 per gram on all days of the fifth week of May.
- However, the price during the final week was lower than those of the previous weeks during May.
|1st April rate||Rs 3,018|
|30th April rate||Rs 3,018|
|Highest rate in April||Rs 3,018 throughout the month|
|Lowest rate in April||Rs 3,018 throughout the month|
|Overall performance||No Change|
Apr'16 - Weeks 1 & 2 (1st to 10th)
- Gold prices in Kolkata were constant at Rs.3,018 for the first two weeks of April as uncertainty continued over end of bullion traders’ strike against implementation of excise duty on gold jewellery sales.
- Globally, gold experienced resurgence as a safe haven with stock markets performing weakly and rate hikes by the US Fed expected to be postponed.
Apr ‘16 - Week 3 (11th to 17th)
- Gold was constant at Rs.3,018 again for the third week as trading remained suspended in the city.
Apr ‘16 - Week 4 (18th to 24th)
- Gold was again constant at Rs.3,018 over the course of the week.
Apr ‘16 - Week 5 (25th to 30th)
- Gold rates were unchanged compared to the previous week.
- There was no change in gold rates in the week.
- Prices stayed constant at Rs 3,018.
1st March rate
31st March rate
Highest rate in March
Rs 3,090 on 1st and from 3rd to 18th
Lowest rate in March
Rs 3,018 from 22nd to 31st
Mar'16 - Week 1 (1st to 6th)
- Gold markets remained closed in the city in the first week of March along with many other parts of the country as jewellers and traders went into an indefinite strike protesting against the budgetary announcement of 1% excise duty on gold jewellery.
- Gold was trading at a constant rate of Rs.3,090 as per last week’s closing price.
Mar'16 - Week 2 (7th to 13th)
- Markets were again closed during the second week as jewellers and associations refused to budge from their demand of scrapping of the newly introduced 1% excise duty on non-silver jewellery as well as mandatory PAN disclosures on transactions above Rs.2 lakhs.
- Gold was trading at a constant rate of Rs.3,090.
Mar ‘16 - Week 3 (14th to 20th)
- Gold markets were closed again in the third week as protests continued to halt trading in the city.
- Gold traded at last week’s rate of Rs.3,090.
Mar ‘16 - Week 4 (21st to 27th)
- Gold trading was halted again in the fourth week as traders continued with their protests. However, jewellers opened up for business.
- Prices were constant at Rs.3,018 all over the week.
Mar ‘16 - Week 5 (28th to 31st)
- Market performance dipped marginally over the previous week.
- Gold rates remained constant at Rs 3,018 throughout the week.
1st February rate
29th February rate
Highest rate in February
Rs.3,092 on 26th
Lowest rate in February
Rs.2,718 on 1st
Feb'16 - Week 1 (1st to 7th)
- February started on a positive note for gold rates, as prices continued climbing on the back of increased buying in the domestic sector by jewellers as well as strong global cues.
- Prices were Rs.2,718 on 1st and Rs.2,882 on 7th.
- Gold rates profited on all days of the week, and breached the 2,800-mark for the first time this year on 4th when it was priced at Rs.2,801.
- Prices continued rising and peaked at Rs.2,882 on 6th and 7th, the highest rate of gold in Kolkata in the last 9 months.
Feb '16 - Week 2 (8th to 14th)
- Gold rates surged during the 2nd week of February as a depreciating rupee, demand from domestic sector and strong global cues pushed rates to 19-month high levels.
- Prices were Rs.2,864 on 8th and Rs.3,030 on 14th.
- Gold prices rose to Rs.2,944 by 10th and dipped marginally to Rs.2,841 on 11th before rising substantially by Rs.210 on 12th to breach the 3,000-mark for the first time in almost 2 years.
- Gold dropped below 3,000 on 13th but regained the level on 14th to close the week at Rs.3,030.
Feb '16 - Week 3 (15th to 21st)
- Gold prices continued appreciating through the third week also, as strong global trends and domestic demand from jewellers and retailers kept gold rates at healthy levels.
- Prices were Rs.2,992 on 15th and Rs.3,038 on 21st.
- Gold started the week on a negative note, falling by Rs.50 on 16th to Rs.2,942 and remaining stable there on 17th.
- Prices picked steam from 18th onwards, rising by an overall margin of Rs.96 between 18th and 20th to touch a high of Rs.3,038.
- Gold was stable at Rs.3,038 on 21st.
Feb '16 - Week 4 (22nd to 29th)
- Gold continued its appreciation toward the end of February on the back of firm global cues.
- Rates were Rs.2,997 on 22nd and Rs.3,067 on 29th.
- Gold rose by Rs.95 in the first 4 days of the week, clocking positive sessions on consecutive days to touch Rs.3,092 by 26th.
- Prices dropped by Rs.26 on 27th to drop to Rs.3,066 and rose marginally to Rs.3,067 on 29th as gold managed to reach almost 4-year highs in terms of monthly gain in value.
|4th January rate||Rs.2,587|
|31st January rate||Rs.2,692|
|Highest rate in January||Rs.2,705 on 30th|
|Lowest rate in January||Rs.2,555 on 5th|
Jan'16 - Week 1 (4th to 10th)
- Gold gained value during the first week of trading in 2016.
- Prices were Rs.2,587 on 4th and Rs.2,633 on 10th.
- Gold rates dropped by Rs.32 on 5th but recuperated the losses on the next day by rising to Rs.2,588.
- Gold breached 2,600-mark for the first time this year on 7th when it was trading at Rs.2,614.
- Prices continued to appreciate in the remaining days of the week to end at a positive note at Rs.2,633 on 9th and 10th.
Jan '16 - Week 2 (11th to 17th)
- Gold prices were down in the 2nd week.
- Prices were Rs.2,640 on 11th and Rs.2,604 on 17th.
- Gold prices were slightly up on 12th at Rs.2,642 before dropping to Rs.2,638 on 13th.
- Prices declined by Rs.34 on 14th as demand from the domestic sector remained subdued while global trends also pushed prices down.
- Gold remained stable at Rs.2,604 from 14th to 17th as demand remained stable while global cues also sustained rates.
Jan '16 - Week 3 (18th to 24th)
- Gold prices appreciated during the 3rd week of January as the wedding season spurred internal demand while global cues also firmed up.
- Prices were Rs.2,657 on 18th and Rs.2,692 on 24th.
- Gold lost marginal value on 19th to fall to Rs.2,646 before recovering to Rs.2,662 by 21st.
- Prices rose by Rs.30 on 22nd to touch Rs.2,692, fell by Rs27 on 23rd to Rs.2,665 and rallied back to Rs.2,692 on 24th to end the week.
Jan '16 - Week 4 (24th to 31st)
- Gold prices were stable on the whole during the last week of January.
- Rates were Rs.2,692 on 25th and Rs.2,692 on 31st.
- Gold was stable at Rs.2,692 till 29th before rising marginally to Rs.2,705 on 30th.
- Prices dropped back to Rs.2,692 on the last day of the month.
1st December rate
31st December rate
Highest rate in December
Rs.2,657 on 5th and 6th
Lowest rate in December
Rs.2,556 on 1st
Dec'15 - Week 1 (1st to 7th)
- Gold rates saw an increase in the 1st week of December in Kolkata.
- Prices were Rs.2,556 on 1st and Rs.2,598 on 7th.
- Gold breached the Rs.2,600 mark on 2nd to touch Rs.2,601 by day end.
- Prices declined in the next two days to fall to Rs.2,562 by 4th evening.
- There was a substantial rise in rates on 5th when gold gained Rs.95 and settled at Rs.2,657.
- Gold lost Rs.59 on 7th to rest at Rs.2,598 for the week.
Dec'15 - Week 2 (8th to 14th)
- Gold had a volatile 2nd week in Kolkata.
- Prices were Rs.2,596 on 8th and Rs.2,601 on 14th.
- Gold depreciated by Rs.20 on 9th to fall to Rs.2,576.
- Prices picked up marginally on 10th to rest at Rs.2,584 before trading in the negative over the next 2 days to settle at Rs.2,570 by 12th.
- Gold rose by Rs.73 on 13th to touch Rs.2,643 but lost Rs.42 the next day to end the week at Rs.2,601.
Dec'15 - Week 3 (15th to 21st)
- Gold prices appreciated in the 3rd week.
- Rates were Rs.2,576 on 15th and Rs.2,606 on 21st.
- Gold rates dropped in the first 3 days by Rs.5, Re.1 and Rs.2 to settle at Rs.2,567 by 18th evening.
- Gold gained Rs.22 on 19th to rise to Rs.2,589.
- Prices rose again on 20th by a margin of Rs.17 to settle at Rs.2,606 on 20th, where it remained on 21st as well.
Dec'15 - Week 4 (22nd to 28th)
- Gold prices dropped in the 4th week.
- Rates were Rs.2,570 on 22nd and Rs.2,564 on 28th.
- Gold breached the 2,600-mark on 23rd when it rose by Rs.33 to settle at Rs.2,603.
- Prices dropped almost immediately to Rs.2,564 on the next day.
- Gold rallied again on 25th by Rs.40 to settle at Rs.2,604 till 27th owing to the holiday season.
- Prices dropped by Rs.40 on 28th to end at Rs.2,564.
Dec'15 - Week 5 (29th to 31st)
- Gold prices were stable on the whole in the 5th week.
- Rates were Rs.2,567 on 29th and Rs.2,564 on 31st.
- Gold appreciated marginally to Rs.2,568 on 30th before falling to Rs.2,564 on 31st.
1st November rate
30th November rate
Highest rate in November
Rs.2,730.50 on 1st
Lowest rate in November
Rs.2,566 on 30th
- Gold rates dropped substantially in the 1st week of the month.
- Rates were Rs.2,730.50 on 1st and Rs.2,633 on 7th, dropping by almost Rs.100 over the week.
- Gold lost almost Rs.50 on 2nd when prices fell to Rs.2,682 from previous day.
- Gold gained marginally on 3rd to rest at Rs.2,688.
- Rates fell for the remaining part of the week except on 7th when gold gained Re.1 in value.
Nov '15 - Week 2 (8th to 14th)
- Gold lost value in the 2nd week of the month.
- Prices were Rs.2,633 on 8th and Rs.2,603 on 14th.
- Rates dropped to Rs.2,617 on 9th before regaining the value on 10th to touch Rs.2,630.
- The next two days saw gold rates stable around the Rs.2,625 level.
- Prices dropped on 13th by Rs.23 to rest at Rs.2,605.
Nov '15 - Week 3 (15th to 21st)
- Gold lost marginal value in the 3rd week.
- Rates were Rs.2,603 on 15th and Rs.2,590 on 21st.
- Prices were mostly stable over the first 4 days of the week, with gold priced at Rs.2,602 on 18th.
- Gold lost Rs.35 on 19th to touch RS.2,567 before recovering over the next two days to touch Rs.2,590 on 21st.
Nov '15 - Week 4 and 5 (22nd to 30th)
- Gold lost marginal value in the last few days of November.
- Prices were Rs.2,574 on 22nd and Rs.2,566 on 30th.
- There was a gain in rates on 23rd to Rs.2,584, which dropped to Rs.2,574 by 25th.
- Gold gained Rs.13 on 26th to settle at Rs.2,587 and fell to Rs.2,582 by 29th.
- Gold lost Rs.16 on 30th to touch Rs.2,566.
1st October rate
31st October rate
Highest rate in October
Rs.2,734 on 19th
Oct '15 - Week 1 (1st to 7th)
- Gold rates appreciated in the first week of October.
- Gold was priced at Rs.2,650 on 1st and Rs.2,669 on 7th.
- Rates climbed steeply from 3rd to 4th when prices touched Rs.2,677 from Rs.2,634, a climb of Rs.34.
- Prices were stable for the remaining part of the week and fell slightly on 7th to Rs.2,669.
Oct '15 - Week 2 (8th to 14th)
- Gold rate saw overall appreciation in the second week.
- Gold rates were Rs.2,682 on 8th and Rs.2,695 on 14th.
- Rates were stable from 8th to 12th and hovered around the Rs.2,680 mark.
- Rates climbed by Rs.24 to Rs.2,704 on 13th breaching the 2,700 mark for the first time in October.
Oct '15 - Week 3 (15th to 21st)
- Gold rate saw overall appreciation in the third week also.
- Gold was priced at Rs.2,722 on 15th and Rs.2,727 on 21st.
- Gold rate on 19th at Rs.2,734 was the highest gold rate in Kolkata for October.
- Rates stayed above the 2,720 level for the most part of the week except for 20th when price dropped to Rs.2,717.
- Gold gained Rs.10 on the subsequent day to come to Rs.2,727.
Oct '15 - Week 4 (22nd to 28th)
- Gold rate depreciated for this week of October.
- Gold was priced at Rs.2,730.5 on 22nd and Rs.2,709 on 28th.
- Prices reduced to Rs.2,714 on 23rd before breaching the 2,730 mark on 24th again.
- Prices fell to Rs.2,708 on 26th and maintained more or less the same rates on 27th and 28th.
Oct '15 - Week 5 (29th to 31st)
- Gold rates remained stable in the final days of the month.
- Prices had appreciated to Rs.2,728 on 29th and appreciated marginally to Rs.2,730.50 on 30th before maintaining the same rate on 31st.
Gold was priced at Rs.2,712 at the start of September 2015. The rates went into a decline mode over the first week of the month, with prices dropping to Rs.2,675 on 4th. The next three day saw a stability in rates, with week ending rate at Rs.2,681 as on 7th September.
The 2nd week of September saw gold rates stabilizing for the first couple of days before dropping on 10th, 11th and 12th to sub-Rs.2,630 level. Rates increased to Rs.2,685 by 14th and remained more or less stable over the next week. Gold was priced at Rs.2,678 on 21st of the month.
Gold declined in the first couple of days to a low of Rs.2,650 by 23rd, and once again breached the Rs.2,720 level by rallying to Rs.2,722 by 25th. There was another steep decline in the last few days of the month when gold rate dropped to Rs.2,683 on 30th of the month.
Gold saw a volatile month throughout September. This volatility is expected to continue over the next few days, however the upcoming festive season will see demands rise and consequently rates also going up.
Investments in gold have evolved over the centuries and gold now offers more investment avenues than ever before. Gold investments act to balance rising inflation, with changing gold rates negating any inflation which could creep in. Some of the popular gold investment options in Kolkata are mentioned below.
Jewelry – Jewelry has been the preferred choice of Indians when it comes to buying gold. Traditionally jewelry was not seen as an investment but people are warming up to it now. Gold jewels can be exchanged or sold, making it a decent investment option in case of emergencies.
Gold Accumulation Plans – These plans provide an investor with the opportunity to deposit a specific amount on a monthly basis. After completion of an agreed upon time period the investor can choose to cash in the deposits in exchange for gold coins or jewelry.
Gold Bullion Bars – Gold bars are seen as a safe investment and every country invests in keeping certain gold bars as reserves. Kolkata has a large number of high net worth individuals and gold bars can be a sound investment opportunity for them. These bars are 99.5% pure and can weigh up to 1 kg each, making them excellent high value investments.
Gold Bullion Coins – These coins are an ideal investment option for those with low reserves. Coins can be purchased according to weight, weighing anywhere between 1g to 10 g. With no wastage and making charges, coins offer better value for money than jewelry and can also be converted into liquid assets if need be.
Allocated Gold Accounts – A lot of people worry about the safety of their gold investments and this plan is perfect for those who wish to own gold but do not want to keep it with them. Gold accounts ensure that the gold is safe and secure in banks, with the owner having freedom to access it at any point.
24 karat gold – One gram of 24 karat gold costs Rs 2722 in Kolkata today (June 15, 2015). The price has hovered around the Rs 2700 mark, with a high of Rs 2915 about 8 months ago and a low of Rs 2600 six months ago.
22 karat gold – A gram of 22 karat gold costs Rs 2538 in Kolkata today (June 15, 2015). The average cost of 1 g of 22 karat gold has been around Rs 2600 in the last year, with a high of Rs 2715 and a low of Rs 2378. The low cost of gold makes it the right time to invest in it.
Kolkata is home to all major jewelers from across the country and houses some of the best gold stores. One can find gold shops in every major part of the city, with the most popular ones being Reliance Jewels, Tribhuvandas Bhimji Zaveri, DK Basak Jewellers, Anjali Jewellers and Senco Gold. Residents can also opt for the smaller gold shops spread across the city to meet their individual needs.
Also Check Gold Price in NearBy Cities of Kolkata
|Gold Rate In Siliguri||Gold Rate In Ranchi||Gold Rate In Jamshedpur|
|Gold Rate In Guwahati||Gold Rate In Raipur||Gold Rate In Bhilai|
|Gold Rate In Patna||Gold Rate In Bhubaneswar||Gold Rate In Cuttack|
- Also Check:Gold Rate in West Bengal
|Also Know: Silver Rate in Kolkata|
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News About Kolkata Gold Rate
Gold Prices Increases In Asia As China Expects Gain In Imports
Gold prices surged in Asia as the trade data of China hinted sudden gain in imports. China is the second largest buyer of gold in the world, after India. Recently, China reported a surplus in their trade balance which is the first gain in 22 months. Investors expect China to rebound. On the other hand, next UK hike rate and US employment data might affect gold prices as well.
8th September 2016
Gold Rates Drop against a Steady Dollar
Gold rates have fallen, followed by a boost in the dollar after the comments from Fed Chair Janet Yellen that the chances of a hike in the US interest rates has strengthened. This has been due to improvements in the labour market and an expected moderate economic growth.
Spot gold fell 0.21% to reach $1,318.06 per ounce, while US gold futures dipped 0.35% to reach $1,321.20. Among other precious metals, Silver went down 0.81% to $18.46 per ounce and further fell to its lowest at $18.36. According to a bank analyst, the consequences of Brexit is yet to be fully seen as the US presidential election is due. Gold is expected to reach $1,350 by the end of the year as there is still some risk aversion in global markets.
30th August 2016
Federal Reserve Decision in Focus, Gold Prices Witness Small Rise in Price
Coming back from a period of a 4 week low, gold prices seem to edge higher with the decision of the Federal Reserve to increase the US interest rate Policy around the corner. While the price for US Gold remained flat at $1328.70 per ounce, Spot Gold witnessed a small increase of 0.2% and stood at $1326.22 per ounce.
Janet Yellen, the Federal Reserve Chair is set to meet a gathering of central bankers at 14:00 on Friday at Jackson Hole, Wyoming. All eyes will be on the meeting as it is purported that Janet may not adopt the cautious tone on rates as done by her predecessors and might bring about an aggressive hike in interest rates.
25th August 2016
Key Points From The Gold Markets As Of July 27th
With the anticipated announcement of the interest rate by the US Federal Reserve there is a lot of uncertainty in the gold markets at the moment. Investors are erring on the side of caution as they wait for the announcement to be made however, apart from the fed rates, here are some other fundamentals from the market.
Though gold bullion hit a high with a price of $1,342.18 per ounce, the price of spot gold remained at $1,338.87 per ounce.
The US Federal Reserve has not changed the interest rates.
The US dollar fell by 0.4% against a lot of major currencies.
The profits in the second quarter for the world's largest producer of gold, Barrick Gold Corp, rose even as it decided to sell its stake in an australian mine. The company currently holds a 50% stake in the mine and wants to sell it off to ease its debt.
Ministry of Industry and Information Technology (MIIT) in China has estimated that the country’s consumption of gold will rise to about 1200 tonnes by the year 2020.
29th July 2016
Indian Gold Shoppers Turn Gold Into Cash
Expat Indians have sought after gold in Dubai to generate spare cash by selling it off in India. This opportunity has risen due to the widening gap between what one gram of gold in Dubai sells for and how much it costs in India. The price of gold in India retails at a much higher cost due to the added sales tax and customs duty. The Rupee has also been weakening which has sent gold climbing up. The number of Indian customers buying gold has spiked in Dubai recently. The Director of Malabar Gold & Diamonds, Abdul Salam K.P., had said that one can make out the nature and intention of the purchase. It can be assumed that people who buy a lot of basic jewellery and gold coins intend on selling it back in their home country.
21st July 2016
Brexit causing concern, but not really effecting gold as per latest report.
Monday’s early Asian trade saw gold prices hold steady, despite a level of uncertainty and ambiguity that followed the Brexit vote and the recent rallying of equity markets.
The equity markets rallying has been attributed to positive jobs data out of the US.
Early Monday saw the gold price head up and touch $1,374.71 per ounce, up from Friday’s low of $1,355.68.
A rise of 0.6% was recorded for U.S. Gold, which reached a high trading value of $1,366.80 per ounce.
Sovereign yields are still at record-lows following the Brexit vote, although Asian markets caught a break thanks to positive jobs data out of the U.S.
Job growth that prompted the positive jobs data in the US was primarily attributed to the employment generated by manufacturing plants and the slight growth in wages. This could lead to the Federal Reserve being jittery about hiking interest rates, however.
The big question over whether the U.S. Federal Reserve would hike interest rates has led to the top banks in the US being evenly split over the answer.
The Chinese economy may need more support and stimulus from the government if it is to continue at its current rate of development, due to its soft inflation level and concerns over the G20.
11th July 2016
Gold Bond Investors See Profitable Returns
Gold bonds traded high with a return of about 19% since it launched. Gold bond investors saw a rise in their investments as the first tranche of bonds was listed on the bourses on Monday. These bonds were issued last November at a face value of Rs.2,684. The bonds traded on NSE on Friday at Rs.3,196. During this period, investors who bet on physical gold would’ve made a profit of 15%. The 4% difference in the returns earned is because the bonds have an additional coupon payment of 2.75 per cent per annum. In the past, gold mutual funds and ETFs were the only option for people to get returns from non-physical gold investments. Now, gold bonds have proven to be a good investment. Gold bonds come with a tenure of 8 years, and if you do not keep it till maturity, you will be taxed on the capital gains. If the bond is sold after three years, then the gains will be subject to 20% tax with indexation benefit.
20th June 2016
Gold Prices Set to Record Biggest Loss in Nine Weeks
Although gold prices increased towards the end of last week, they remained close to the seven-week low and market analysts predicted that the precious metal was set to record it highest weekly loss in the past nine weeks as positive economic information increased expectations that the interest hikes in the United States will materialise in the coming two months. The United States Federal Reserve continued laying the groundwork for an increase in interest rates in the near future, with Jerome Powell, the Governor, stating that the US economy was on a “solid footing” whilst also claiming that it is ever-so-close to meeting the inflation goals set by the central bank.
31st May 2016
India’s Demand for Gold Jewellery Down to Seven-Year Low
The gold jewellery industry in India has lost its shine in recent times according to the first quarter report for 2016 published by WGC (World Gold Council). The demand for gold jewellery in the country was the lowest in seven years at 88.4 tonnes, marking a 41% year-on-year decrease during the first quarter of 2016. The decline was also 44% below the five-year quarterly average for the country of 156.7 tonnes, signifying the extent of worries thrust on the market in the first quarter of this year. Included among the worries of the market was the month-long strike by jewellers who demanded the abolition of 1% excise duty levy.
23rd May 2015
Gold Nearing Biggest Drop in Two Months
Gold is set to experience its biggest weekly loss in almost two months although it edged a little higher on Friday after two consecutive days of losses.
The dollar reduced from its highest in almost two months but was headed towards a third week of increase, maintaining pressure on gold. Spot gold increased by 0.1% while gold futures increased to $1,256.40.
According to William Dudley, New York Fed President, markets have been underestimating the chance of policy tightening although policymakers believed that an increase in rates was appropriate. Gold is extremely sensitive to rise in rates.
Demand for gold in Asia was less this week due to a weak demand in important trading hubs. Silver increased by 0.4% and platinum by 1.1%. Palladium, however, decreased by 4.7%.
20th May 2016
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