Gold Rate In Kolkata Today

The gold rate in Kolkata is influenced by factors such as local demand, rupee-dollar trends etc. Gold is usually purchased as an investment or as jewellery. Find daily gold rates, monthly gold trends and a detailed analysis below.
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  • Today's Gold Rate in Kolkata ( 17 Feb 2020 )
    ₹ 4,037
    Today's Gold Rate (22K) per gram
    Compare 22K & 24K Gold Rate In Kolkata (Today & Yesterday)
    Today
    (17 Feb 2020)
    Yesterday
    (16 Feb 2020)
    Rate Change
    Standard Gold (22 K) ( 1 gram ) ₹ 4,037 ₹ 4,037 ₹ 0 ↑
    Standard Gold (22 K) ( 8 grams ) ₹ 32,296 ₹ 32,296 ₹ 0 ↑
    Pure Gold (24 K) ( 1 gram ) ₹ 4,239 ₹ 4,239 ₹ 0 ↑
    Pure Gold (24 K) ( 8 grams ) ₹ 33,912 ₹ 33,912 ₹ 0 ↑
    Daily Gold Rates
    Date Standard Gold (22 K) Pure Gold (24 K)
    1 gram 8 grams 1 gram 8 grams
    17 Feb 2020 ₹ 4,037 ₹ 32,296 ₹ 4,239 ₹ 33,912
    16 Feb 2020 ₹ 4,037 ₹ 32,296 ₹ 4,239 ₹ 33,912
    15 Feb 2020 ₹ 4,011 ₹ 32,088 ₹ 4,212 ₹ 33,696
    14 Feb 2020 ₹ 4,011 ₹ 32,088 ₹ 4,212 ₹ 33,696
    13 Feb 2020 ₹ 3,982 ₹ 31,856 ₹ 4,181 ₹ 33,448
    12 Feb 2020 ₹ 3,985 ₹ 31,880 ₹ 4,184 ₹ 33,472
    11 Feb 2020 ₹ 3,993 ₹ 31,944 ₹ 4,193 ₹ 33,544
    10 Feb 2020 ₹ 4,009 ₹ 32,072 ₹ 4,209 ₹ 33,672
    09 Feb 2020 ₹ 4,009 ₹ 32,072 ₹ 4,209 ₹ 33,672
    08 Feb 2020 ₹ 3,982 ₹ 31,856 ₹ 4,181 ₹ 33,448

    Weekly & Monthly Graph of Gold Rate in Kolkata

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    *Disclaimer: Bankbazaar makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are susceptible to change with Market value and provided on an as-is basis. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. We accept no liability for any loss arising from the use of the data contained on this website.

    Gold Price in Kolkata

    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.

    Investing in gold is considered a profitable option for a large number of middle-class families in Kolkata and hence it is no wonder that the city ranks very high in the list of consumers in the country. A lot of topics relating to the precious metal, however, is often unanswered. So, in this page, we aim to cover every possible topic that relates to gold and gold rate in Kolkata.

    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.

    Trend of Gold Rate in Kolkata for February 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    February 1 Rate Rs.4,199 per gram
    February 9 Rate Rs.4,209 per gram
    Highest Rate in February Rs.4,226 per gram on 4 February
    Lowest Rate in February Rs.4,160 per gram on 7 February
    Overall Performance Incline

    February 2020- Week 1 (1 - 9):

    • Kolkata’s gold prices have been higher than the other cities in the country. The price of the metal opened the month at Rs.4,199 per gram and hit the highest price of the week on 4 February at Rs.4,226 per gram. However, the price of the metal remained steady for the first three days of the week.
    • On 5 February, the price of the metal started dipping as investors shifted back to the stock market with increased risk appetite. On 5 February, the price of the metal was Rs.4,181 per gram and hit its lowest price on 7 February at Rs.4,160 per gram. The dip in prices was when China cut down the reverse repo rate and additional liquidity was added to the market to sustain the economy.
    • However, even if this measure by the Central Bank worked for a few days providing respite to the market, it did not last for long. Gold prices started increasing again on 8 February increasing to Rs.4,181 per gram with investors shifting back to the bullion market. The Coronavirus escalated again and resulted in a loss of many lives. At the end of the week, the price of the metal closed at Rs.4,209 per gram.

    Trend of Gold Rate in Kolkata for January 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    January 1 Rate Rs.4,027 per gram
    January 31 Rate Rs.4,199 per gram
    Highest Rate in January Rs.4,251 per gram on 9 January
    Lowest Rate in January Rs.4,027 per gram on 1 January
    Overall Performance Incline

    January 2019- Week 1 (01 - 05):

    • The prices of gold in Kolkata were higher than the other states comparatively, opening the month at Rs.4,027 per gram. On 2 January, the price of the metal increased marginally to Rs.4,041 per gram amidst a weak dollar and the rising value of the rupee.
    • Gold prices were holding at Rs.4,041 per gram on 3 January as investors awaited updates on the stock market. However, on 4 January, due to the tensions between the United States of America and Iran, the price of the metal increased to Rs.4,094 per gram.
    • On 5 January, the metal’s price increased further to Rs.4,111 per gram, almost reaching its 7-year high. Tensions in the middle east gave rise to safe haven appetite amongst investors due to which the demand for the metal increased.

    January 2019- Week 2(06 - 12):

    • In Kolkata, the price of the metal in the second week of January opened at Rs.4,111 per gram. The metal’s price fluctuated through the week due to geopolitical factors such as the tensions surrounding Iran and the United States of America. Gold prices increased to Rs.4,195 per gram on 7 January.
    • However, after dipping marginally to Rs.4,174 per gram on 8 January, gold prices hit the weekly high on 9 January at Rs.4,251 per gram. This was majorly due to speculations by investors concerning President Trump’s response to Iran’s attack on the U.S. Army base in Iraq.
    • The price of the metal dipped drastically after United States President Donald Trump refused to escalate the tensions further and ease the conflict. Investors, due to this, shifted to the stock market on a strong dollar and gold closed the week at Rs.4,136 per gram.

    January 2019- Week 3(13 - 19):

    • The price of gold in Kolkata was Rs.4,136 per gram at the beginning of the week. There was a marginal dip in prices on 14 January at Rs.4,108 per gram as investors had a higher risk appetite ahead of the signing of Phase 1 of the trade deal between the United States of America and China.
    • On 15 January, gold was priced at a lower price of Rs.4,074 per gram as the trade deal was signed between the two countries. Investors shifted to the stock market instead of the bullion as the value of the dollar also increased in the market. However, gold prices increased on 16 January as speculations rose amongst traders on the unresolved issues in the trade deal.
    • Due to uncertainties and the tensions in the Middle East escalating, investors shifted to the bullion instead of the stock market due to its safe-haven appeal. The price of the metal increased to Rs.4,104 per gram and closed the week at the same price.

    January 2020- Week 4 (20 - 26):

    • Gold price in Kolkata started the fourth week of January at Rs.4,104 per gram. The rates remained unchanged in the city when compared to the previous week’s closing price.
    • Over the next two days, the rates of the yellow metal increased in the eastern metropolitan city as investors turned towards the safe-haven metal given the concerns regarding growing tensions in the Middle East and the outbreak of coronavirus in China. On 22 January, gold prices stood at Rs.4,153 per gram in the city.
    • The rates slipped to Rs.4,118 per gram on 23 January as investors assessed the risk of coronavirus becoming a global epidemic. Over the remaining days of the week, gold prices increased gradually before closing at Rs.4,176 per gram. The overall performance showed an incline in the prices of the precious metal.

    January 2020- Week 5 (27 - 31):

    • The precious metal in Kolkata showed an inclining trend in prices in the last week of the month. Opening at Rs.4,176 per gram, gold prices increased to Rs.4,193 per gram on 28 January. As investors waited on developments by the Federal Reserve’s decision on rate cuts, gold prices held steady in the first half of the week.
    • After holding steady at Rs.4,193 per gram till 29 January, the price of the yellow metal dipped to Rs.4,158 per gram hitting its weekly low on 30 January. The trend of lowering prices came as a surprise amidst the positive global trends of the metal. This was majorly due to positive data from the consumer durable goods industry in the United States of America and Indian investors awaiting the Union Budget 2020.
    • The price of the metal increased soon after to Rs.4,199 per gram on 31 January due to escalating concerns over the Coronavirus and its global effect. Gold closed the month recording an overall incline in prices.

    Trend of Gold Rate in Kolkata for December 2019 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    December 1 Rate Rs.3,948 per gram
    December 29 Rate Rs.3,929 per gram
    Highest Rate in December Rs.3,976 per gram on 5 December
    Lowest Rate in December Rs.3,884 per gram on 14 December
    Overall Performance Decline

    December 2019- Week 1 (1 – 8):

    • In Kolkata, gold prices opened the first week of December at Rs.3,948 per gram. Compared to the previous week’s closing price, the rates witnessed a jump of Rs.38 for every gram.
    • Flipping news on the trade deal between Washington and Beijing saw gold rates declined in the first four days of the week. However, with the US president stating that the talks were moving along on December 5 the prices increased to Rs.3,976 per gram.
    • Gold prices closed the week at Rs.3,905 per gram. This was the lowest recorded price of gold in the week. The overall performance of the yellow metal in Kolkata was trending downwards.

    December 2019- Week 2 (9 - 15):

    • The price of gold in Kolkata stood at Rs.3,905 per gram on December 9. There was no change in the price of the metal when compared to the previous week’s closing price.
    • As investors decided to await clarity on whether the United States would impose new tariffs on Chinese goods, the prices slipped to Rs.3,885 per litre on December 12.
    • With gold’s safe-haven appeal getting a boost due to political tensions in the world’s biggest economy, the rates of the yellow metal increased towards the end of the week and closed at Rs.3,915 per gram. In Kolkata, gold witnessed a declining trend over the second week of December.

    December 2019- Week 3 (16 – 22):

    • The price of gold in Kolkata stood at Rs.3,915 per gram on December 16. There was no change in the price of the metal when compared to the previous week’s closing price.
    • As investors awaited on further clarity on the trade deal between China and the United States of America, there were minor changes in the price of the metal. With mixed signals and a good job data from the United States, gold was priced at Rs.3,921 per gram on 18 December.
    • With gold’s safe-haven appeal getting a boost due to political tensions after the impeachment of President Donald Trump, the rates of the yellow metal increased towards the end of the week and closed at Rs.3,929 per gram.

    December 2019- Week 4 (23 - 29):

    • The price of gold in Kolkata stood at Rs.3,915 per gram on December 16. There was no change in the price of the metal when compared to the previous week’s closing price.
    • As investors awaited on further clarity on the trade deal between China and the United States of America, there were minor changes in the price of the metal. With mixed signals and a good job data from the United States, gold was priced at Rs.3,921 per gram on 18 December.
    • With gold’s safe-haven appeal getting a boost due to political tensions after the impeachment of President Donald Trump, the rates of the yellow metal increased towards the end of the week and closed at Rs.3,929 per gram.

    Trend of Gold Rate in Kolkata for November 2019 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    November 1 Rate Rs.3,974 per gram
    November 30 Rate Rs.3,910 per gram
    Highest Rate in November Rs.4,006 per gram on 3 and 4 November
    Lowest Rate in November Rs.3,908 per gram on 28 November
    Overall Performance Decline

    November 2019- Week 1 (01-03):

    • Gold prices in Kolkata were high due to local demand. The metal opened the month of November at Rs.3,974 per gram increasing from Rs.3,956 per gram on 31 October. This was due to a fall in the value of the rupee and trade talk speculations between the United States of America and China.
    • The price of the metal was steady on 2 November at Rs.3,974 per gram due to fluctuating trends in global markets.
    • On 3 November, the price of gold increased to Rs.4,006 per gram as the trade talk speculations increased and investors feared another interest rate cut ahead.

    November 2019- Week 2 (04-08):

    • The price of gold in Kolkata opened the second week of November at Rs.4,006 per gram which was steady compared to the previous week’s closing. On 5 November, the price of the metal decreased marginally to Rs.4,002 per gram due to a strong dollar value.
    • As the trade talks between the United States of America and China eased, investors shifted focus from the bullion to the stock market, resulting in a dent in the demand of the metal. On 6 November, gold was priced at Rs.3,996 per gram.
    • On 7 November, the price of gold plummeted to Rs.3,957 per gram due to a strong dollar denting the demand for the bullion and optimism in the trade talks encouraged investors to invest in the stock market. Gold closed the second week of the month at Rs.3,957 per gram.

    November 2019- Week 3 (09-17):

    • In Kolkata, gold prices opened at Rs.3,936 per gram. Compared to the previous week’s closing price, the rates saw a drop of Rs.21 per gram. The drop in the prices of the precious metal was accounted to positive cues regarding the trade pact between China and the United States.
    • Gold witnessed a fluctuating trend over the week as there was no clear indication regarding the trade deal and investors shifting to the stock market in the hope of positive trade talk developments.
    • Gold prices recovered slightly in the last few days of the week after the rates had dropped to Rs.3,922 per gram on 13 November. The recovery was accounted to investors shifting to the bullion as a safe-haven asset as there was no clear indication of a trade deal. Gold closed the third week of November at Rs.3,946 per gram.

    November 2019- Week 4 (18 - 24):

    • In Kolkata, gold prices opened at Rs.3,946 per gram and fluctuated throughout the fourth week of the month. Global trends and various geopolitical issues contributed to the rise and fall of the metal’s price in the week.
    • On 19 November, the price of the metal dipped marginally to Rs.3,939 per gram as investors awaited on developments on the trade deal between the two economic superpowers. However, as trade tensions increased, the price of the metal increased on 20 November to Rs.3,968 per gram.
    • Gold prices dipped to its weekly low at Rs.3,913 per gram on 21 and 22 November due to positive cues in the trade deal. However, gold prices recovered on 23 November to be priced at Rs.3,936 per gram due to hovering doubts pein the last few days of the week after the rates had dropped to Rs.3,922 per gram on 13 November. The recovery was accounted to investors shifting to the bullion as a safe-haven asset as there was no clear indication of a trade deal. Gold closed the third week of November at Rs.3,946 per gram.

    November 2019- Week 5 (25 – 30):

    • In Kolkata, gold prices opened the final week of November at Rs.3,936 per gram. Compared to the previous week’s closing price, the rates didn’t see any change.
    • With traders awaiting further developments in the trade talks between the United States and China, the rates declined considerably in the next few days. Every gram of the 24-carat gold cost Rs.3,908 on 28 November. This was the lowest recorded price for the month in the city.
    • The rates increased marginally and closed the week at Rs.3,910 per gram in Kolkata. The overall performance of gold was trending downwards as nothing concrete regarding the trade deal was provided by either country.

    Trend of Gold Rate in Kolkata for October 2019 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    Rate on 1st October Rs.3,889 per gram
    Rate on 31st October Rs.3,956 per gram
    Highest Rate in October Rs.3,989 per gram on 28 and 29 October
    Lowest Rate in October Rs.3,833 per gram on 2 October
    Overall Performance Incline

    October 2019- Week 1 (1-6):

    • Weak retail demand and a strong rupee dented gold price in Kolkata, which opened lower at Rs.3,889 per gram before falling further to Rs.3,833 per gram on 2 October.
    • Sluggish manufacturing data and fresh U.S. tariffs on EU goods increased market volatility and led to investors switching to bullion, as local prices also rose to Rs.3,917 per gram on 4 October.
    • Despite high import costs for bullion, retail demand rose ahead of the festive season and boosted gold price in Kolkata, which ended the week higher at Rs.3,948 per gram.

    October 2019- Week 2 (7-13):

    • Opening the month at Rs.3,889 per gram due to a firm value of rupee against the dollar, gold price in Kolkata increased in the second week of the month priced at Rs.3,948 per gram.
    • As the trade tensions increased along with the crisis in the Middle East, gold rate in Kolkata boosted hitting the weekly high on 10 and 12 October at Rs.3,961 per gram.
    • However, as the trade tensions eased and optimism followed after Donald Trump’s remarks on the trade talks, the investors shifted back to the markets for investments, lowering the price of gold. On 13 October, gold rate in Kolkata closed at Rs.3,962 per gram.

    October 2019- Week 3 (14-20):

    • In Kolkata, the price of gold was Rs.3,952 per gram on 14 October and decreased marginally by Rs.10 to Rs.3,942 per gram on 15 October 2019 due to decreased local demand and renewed optimism by investors on the trade talks.
    • However, on 16 October, the price of the metal increased to Rs.3,971 per gram due to uncertainties on the Brexit crisis which resulted in investors shifting to the bullion as safe haven. An increase in equities also resulted in the rise in the price of the metal.
    • After hitting the weekly high on 16 October, the prices remained steady until 18 October at Rs.3,971 per gram. However, on 19 October, gold prices dipped to Rs.3,962 and closed at the same price due to renewed optimism in the trade deal and ease in Brexit fears.

    October 2019- Week 4 (21-27):

    • Gold prices in Kolkata opened the month at Rs.3,962 per gram on 21 October and increased marginally to Rs.3,964 per gram on 22 October even though investors awaited a decision on Brexit ahead of the meeting.
    • However, due to increased risk appetite and positive cues on the trade talks between the United States of America and China, the price of the metal increased to Rs.3,963 per gram on 24 October and increased marginally to Rs.3,966 per gram on 25 October.
    • Due to weak U.S. economic data, investors shifted focus to the bullion as it hinted yet another rate cut by the United States of America. The price of gold increased to Rs.3,989 per gram on 26 October and closed on 27 October at the same price.

    October 2019- Week 5 (28-31):

    • In Kolkata, the price of gold was holding steady at Rs.3,989 per gram on 28 October due to the renewed optimism in the trade talks between China and the United States of America. Due to this, there was a rise in equities as well. The metal held steady at the same price on 29 October.
    • However, on 30 October, the precious metal’s prices dipped to Rs.3,948 per gram in the city as the value of the dollar increased due to strong market cues resulting from the trade talks. Investors, however, had shifted focus from the trade talks awaiting the rate cut from the Federal Reserve.
    • On 31 October, the United States Federal Reserve announced a 1% rate cut resulting in the fall in the value of the dollar. Due to this, the price of gold recovered marginally and closed the month at Rs.3,956 per gram.

    Trend of Gold Rate in Kolkata for September 2019 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    September 1 Rate Rs.3,614 per gram
    September 30 Rate Rs.4,001 per gram
    Highest Rate in September Rs.4,030 per gram on 27 September
    Lowest Rate in September Rs.3,572 per gram on 2 September
    Overall Performance Incline
    Percentage Change 10.70%

    September 2019- Week 1 (1-8):

    • Despite weak retail demand, positive overseas trends and rising industrial demand saw gold rate in Kolkata trade at Rs.3,986 per gram, rising to Rs.4,032 per gram on 4 September.
    • GOld price in Kolkata surged to Rs.4,064 per gram on 5 September as weak U.S. data dampened risk sentiment and increased demand for safe-haven assets like bullion.
    • Despite steady jeweller demand, gold price in Kolkata plunged as the dollar gained with the precious metal ending the week at Rs.3,967 per gram.

    September 2019- Week 2 (9-15):

    • Conflicting cues resulted in gold rate in Kolkata fluctuating after opening unchanged at Rs.3,967 per gram, though retail offtake remained weak due to the high import cost and falling rupee.
    • Gold traded at Rs.3,946 per gram on 12 September as overseas demand stagnated on reduced investor interest in safe-haven assets, with gold price in Kolkata plunging to Rs.3,903 per gram on 13 September.
    • Jeweller demand remained steady but firm equities and a rising dollar rate capped gains as the precious metal fell to Rs.3,890 per gram on 15 September, extending its losing streak.

    September 2019- Week 3 (16-22):

    • Conflicting cues resulted in gold rate in Kolkata fluctuating after opening unchanged at Rs.3,890 per gram, though retail offtake remained weak due to the high import cost and falling rupee.
    • Gold traded at Rs.3,906 per gram on 18 September as overseas demand stagnated on reduced investor interest in safe-haven assets, with gold price in Kolkata plunging to Rs.3,872 per gram on 20 September.
    • Jeweller demand remained steady but firm equities and a rising dollar rate capped gains as the precious metal traded at Rs.3,903 per gram on 22 September, extending its losing streak.

    September 2019- Week 4 (23-30):

    • Gold rate in Kolkata echoed trends seen across other cities, with the yellow metal trading at Rs.3,976 per gram on 26 September on a rise in local jeweller offtake.
    • Gold price in Kolkata surged to Rs.4,030 per gram on 27 September on renewed uncertainty before settling at Rs.3,996 per gram on 29 September as equities recovered, which dented bullion demand.
    • Fluctuations in the dollar rate capped gains as the precious metal traded at Rs.4,001 per gram on 30 September, recording a rise of 10.70% over the course of the month.

    Also Check Gold Price in NearBy Cities of Kolkata

    Gold as an Investment in Kolkata

    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.

    How are Gold Rate fixed in Kolkata?

    Gold rates are often set on the same principle in all the states and cities in the country. But, as variables often differ in different states and so does the demand, we see prices that are dissimilar in most places. Coming to the part about how gold rates are fixed, we can say that it hinges on a number of factors. These include:

    • Rate of gold in the international market: The reason why gold rates in the international exchange matters is because much of the bullion in the country is imported. Gold rates in the global market depends on how well the US dollar is performing. This is because the metal is mostly trade in US currency.
    • Import duty: Every state has a different import duty which is added on top of the duty that should be paid for importing the metal into the country. Gold prices in the market may vary depending on the duty paid at a particular point in time.
    • Bank margins: Usually, banks are one of the few institutions that are designated to import gold into the country. When banks get the metal into the country, they decide on a profit margin before selling the same to the retailers. The percentage cut banks decide to take will also have a bearing on how gold rates are set.
    • The MCX: The Multi Commodity Exchange, known commonly as the MCX, is a market where commodities are exchanged. Prices on this index will impact how gold is priced in a city, in this case, Kolkata.
    • Associations: Bullion association is an association of traders and retailers who come together to discuss any and all of their gold related concerns. To set a rate, these traders often consider some of the biggest retailers and their latest pricing while also taking into account the profitability of the rate they set.

    Like every other city in India, fixing gold rates in Kolkata involves a set procedure. While the process is the same, the various costs involved is what brings the rate difference. In this section, we tell you how gold rate in Kolkata is fixed.

    • Import duty
    • GST on gold
    • Marginal cost of banks importing the gold
    • Local bullion association along with some of the leading dealers in the city
    • Cost of gold on the Multi Commodity Exchange (MCX)
    • The Rupee-US dollar dynamic

    When fixing gold prices, all the aforementioned factors come into play. The import duty though remains the same for all imports, same is the case with the GST too. After this, the local association decide on what price better reflects the market dynamic (demand, inflow, outflow etc). Once all this are taken care of, the performance of the US dollar and the Indian rupee provides direction to prices.

  • Factors behind the rise of Gold Price in Kolkata
  • Up until 2003, gold prices around India remained around the Rs.3,500 bracket, but things changed soon after the Lehman Brothers crash happened in 2008. When the markets crashed, people felt that investing in gold, whose prices were rising significantly would help offset their losses. Now, ever since 2008, gold prices have risen by more than 750% within a decade.

    Future of Gold Price in Kolkata

    While we have mentioned how gold prices have gone up over the last couple years, there is a chance that bullion trading has seen its best days already. These days there’s very few reasons why gold rates should spike, unless the world again goes through a bad debt situation like it did in 2008. Som expect gold prices to remain more or less flat for much of 2017.

    Gold loans in Kolkata

    Availing loans against gold has become rather common of late with several NBFCs like Muthoot Finance and Manappuram Gold Loans have been established with this as their core business principle. There are also several other NBFCs and banks which offer loans against assets like gold. To provide a loan, they usually value the gold at the current day’s rate and will keep it as a collateral tilt he borrowed amount is completely repaid with interest.

    Selling Gold in Kolkata

    Selling gold in Kolkata is relatively simple as nearly every jewellery store offers you this service. All you’d have to do is walk into a jeweller near you, who will value your gold and pay the total amount based on how much it weighs. However, what we suggest is that you go to reputed jewellers and retailers so that you don’t get hoodwinked by scamsters.

    These are some of the most important things you should know about investing in gold in Kolkata. If you are really looking to invest in the metal, be advised that rates haven’t seen the best of days in the past few months and isn’t likely to go up any time soon.

    What impact has GST had on gold rate in Kolkata?

    As per the Income Tax regulations, gold as a commodity is taxable under the law and with the introduction of Goods and Services Tax (GST) on 1st July, 2017, the price dynamic has underwent a major rejig. As per the old law, gold was taxed at 12.2% , of which 10% was the import duty, 1% was the excise duty, while the remaining 1.2% was the VAT complement of the tax. At present, the the excise and VAT duty have been scrapped and has been replaced with a GST of 3% and the 10% import duty still remains.

    On the retail front, there are a few different components to look at. For instance, there’s the 5% making charge on top of the 10% import duty, and 3% GST.

    Ways to invest in gold in Kolkata

    Being a major metropolitan city, Kolkata certainly offers a lot of scope for gold investment. For people looking to invest in the yellow, there are plenty of avenues to choose from. These range from obvious consumer-centric instruments like jewellery and gold coins, while there are also other investment-driven options one can explore like gold bullions and Exchange Traded Funds (ETFs).

    Things to know before investing in gold in kolkata

    In this section we will talk about the various things you should know about before investing in gold. Here are a list of things every gold investor must know before making their purchase:

    • The purity level: Gold is available in multiple levels, which are based on how pure they are. These are four of the mostly known ones, i.e,, 14 karat (58.33% pure), 18 karat (75% pure), 22 karat (92% pure), and 24 karat (99% and above). A 24K gold is also considered to be the purest form of gold. For jewellery purposes, 22K gold is commonly used as it offers designers a certain level of customizability. Another reason 22K gold is used instead of 24K is because the latter is far too brittle to withstand complex and intricate designs.
    • What the labour charges are: Every jeweller, irrespective of where they are based, add what is known as labour charge. This is the compensation for the man hours spent creating a piece of jewellery. Sellers usually add this amount to the overall cost of the product.
    • Certification: Every gold type is certified with an authentication letter and most jewellers provide the a certificate stating that their gold is either KDM or Hallmark certified. Make sure your gold has the right certification before making the purchase.
    • Timing of the purchase: The timing of your purchase can have a bearing on how much your jewellery could cost. For instance, during festive seasons when demand is high, you are likely to spend more as opposed to buying during the off season. Also be on the lookout for additional offers which reputed jewellers put up from time to time.
    • Keep the weight in mind: When a jewellery is weighed before a sale, any other stones used (emerald, diamond etc) will also be included in the pricing. This may increase the price of your jewels further. So, keep this in mind when purchasing studded jewellery.

    What factors influence gold rate in Kolkata?

    There are a number of reasons why gold is priced different in almost every other city in the country.

    • One of the things that play a role is logistics. You see, India has very few gold mining companies and in order to make up for the shortage, we import gold from other countries like Switzerland, Saudi Arabia, the USA, Ghana, Peru, Bolivia among others.
    • The second factor is the Central Bank, which sometimes imports gold when there’s an especially high demand for the metal. As a consequence of this, gold prices also rise up.
    • The third factor is the Indian Rupee. Depending on how good or bad the rupee is performing, gold rates differ. For instance, if the rupee gains upto 100 points on the dollar i.e., if the value falls from say Rs. 64 for 1 USD to Rs.62 per 1 USD, gold rates drop. This is because the importing cost decline due to a stronger rupee. The opposite is also true, if rupee falls and dollar gains, gold rates increase.

    What’s the difference between KDM and Hallmark gold?

    KDM and hallmark are two entirely different things, in that KDM alludes to the process of using other metals to make jewellery that would last long. On the other hand, Hallmark is the certification provided to piece of gold based on its purity levels. The latter is follows a clear cut instruction set by the Bureau of Indian Standards (BIS), the arbitrator of sorts for gold standards in India.

    Gold or Gold ETF: Which is a better option?

    Whether a gold or gold ETF is a better option depends on the reason behind your purchase. If, for instance, you are buying gold for personal consumption, there’s no other way than to buy gold. On the other hand, if you want to buy gold from an investment point of view, you could take a clear look at ETFs. But, before going for it, you should know that ETFs aren’t the same as physical gold, in that you won’t have it with you. Also, ETFs are taxable in you register any capital gains after you liquidate your assets.

    Also Check Petrol Price and Diesel Price in Kolkata

    Read more on Gold

    News About Kolkata Gold Rate

    • Gold Close to 14-month Highs on Dovish Federal Reserve

      Gold prices surged by over 1% on expectations of a dovish statement by both the U.S. Federal Reserve and European Central Bank presidents, which indicated possible interest rate cuts.

      Spot gold rose by 1% to $1,352.23 per ounce while U.S. gold futures recorded a 0.8% rise to $1,358.34 per ounce.

      Markets and analysts are cautious ahead of the Fed’s economic projections after its meeting, though many expect it will not change borrowing costs for the moment.

      With major global central banks adopting dovish stances due to global tensions impacting economic growth, bullion demand could continue to see steady growth.

      18 June 2019

    • Subdued Dollar and Rate Cut Hopes Spur Gold On

      Gold rose to a weekly high in trading as expectations of an interest rate cut by the Federal Reserve supported the metal. A weak U.S. dollar and soft inflation data also bolstered bullion.

      Spot gold rose by 0.3% to $1,336.56 per ounce, with U.S. gold futures also rising by 0.3% to $1,340.3 per ounce.

      Disappointing U.S. inflation figures served to reinforce expectations of an interest rate cut by the Federal Reserve, which is seen as positive for gold. A weakened U.S. dollar also supported gold’s position. The benchmark currency fell by 0.1% against a basket of global currencies, making gold cheaper for non-dollar holders.

      13 June 2019

    • Low Dollar Boosts Gold’s Profile

      Gold prices rose to their strongest position in almost two weeks as the dollar fell. Spot gold rose by 0.3% to trade at $1,325.51 per ounce as the dollar weakened on rising optimism of a break in the Sino-U.S. trade deadlock.  

      There was also a rise in U.S. gold futures on positive investor sentiment. Futures rose by 0.5% to trade at $1,328.90 per ounce.  

      Analysts state that prices are set to rise in the short term but prices could see a rebound if there is a slowdown in the global economy. It is hoped that a thaw in trade relations between the U.S. and China could boost production and markets.

       

      18 February 2019

    • Rural Gold Demand Slated to Rise After Budget

      Demand for gold is slated to rise among rural Indian buyers following proposals in the Interim Budget, according to traders. With this sector driving close to 60% of total gold consumption in the country, it is expected to boost the flagging gold market. 

      The jewellery industry is hoping tax sops to the middle class and waivers for farmers will translate into higher gold jewellery sales, especially since the precious metal is still considered a valuable asset for this sector.  

      Gold rates in Kolkata saw a marginal rise following the budget announcement, though jewellery offtake remained more or less static. While traders and jewellers have welcomed the tax breaks, they are dissatisfied that import duty on gold and silver has remained the same, which would affect their bottomlines. 

      1 February 2019

    • Gold Prices At 8-Month High on Fed Rate Hike Pause

      Gold prices held steady as the Federal Reserve’s monetary tightening policy appeared to be ending, boosting interest in the yellow metal. Spot gold remained at a stable $1,319.87 per ounce while gold futures rose 0.7% to trade at $1,319.30 per ounce. Spot gold has seen a nearly 2.8% rise in value during the month on strong global interest. 

      U.S. interest rates were steady as the Federal Reserve indicated it would put off further rate hikes, indicating rising economic uncertainty. The dollar index fell after the Fed’s cautious assessment of the economic outlook.  

      Bullion usually rises on low interest rate expectations as the opportunity cost of holding non-yielding bullion reduces, which dents demand for the U.S. Dollar. The long-awaited trade talks between the U.S. and China also began yesterday, which had markets slightly shaky. 

      U.S. payroll data increased for January 2019 which indicated labour strength in spite of a recent perceived loss in business confidence. 

      31 January 2019

    • On demand for safer investments, gold prices rise on Wednesday

      On Wednesday, gold prices rose on the back of the demand for safer investments. The demand for safer investments comes at a time when equity markets are falling, and concerns are being raised over the outlook for global economic growth. Spot gold reached near a six-month high after witnessing a jump of 0.1 per cent to cost 1,283.61 dollars per ounce. U.S gold futures also rose by 0.3 per cent to cost 1,284.80 per ounce. 

      It needs to be mentioned here that Asian shares turned tall on the first trading day of 2019 as the economic data from the world’s second largest economy i.e., China erased the gains made in U.S stock futures. The Caixin/Markit Manufacturing Purchasing Managers Index (PMI) for the last month of 2018 i.e., December fell to 49.7 following a raft of soft trade data from the Asian region. 

      When it comes to other precious metals, silver was down 0.5 percent, platinum was flat while palladium gained 0.08 per cent. The metals were trading at 15.36, 791.50, and 1,264.99 dollars respectively.

      2 January 2019

    • Gold rates increased today, silver rate also bounced back

      Triggered by higher overseas prices and the enhanced demand from the retail jewellers, gold rates have fallen for the second day. Gold prices continued to grow. They climbed by Rs.230 per 10 grams at the bullion market. The fresh buying by the makers of coins and industrial units have pushed the price of silver by Rs.250 a kg. In the national capital, gold rate of 99.9% purity was reported to be up by Rs.230 per 10 grams and gold rate of 99.5% was also up by Rs.230 per 10 grams. Sovereign gold was constant at Rs.25000 per piece of 8 grams. Sliver ready jumped from Rs.37750 to Rs.38000 per kg. Moreover, weekly-based delivery also increased by Rs.236 per gram. For buying and selling of 100 pieces, silver coins remained unchanged at Rs.74000 and Rs.75000 respectively. Gold rates have gone up in international markets today. The rate of spot increased by 0.1% an ounce. Gold prices have been up by 2% this week. The weakened USD against some major currencies such as Japanese yen has supported the price of gold.

      28 December 2018

    • Things to know about gold and silver prices

      On Monday, gold prices fell for the second consecutive day owing to slackened demand from local jewellers amid a weak trend overseas. Silver prices in the country, however, remained steady with every kilogram costing Rs.38,400. Here are certain things that you need to know about gold and silver prices:

      • In Delhi, prices of 99.9 per cent and 99.5 per cent purity dropped by Rs.190 each.
      • While 99.9 per cent pure gold cost Rs.32,000 for every 10 gram, every 10 gram of 99.5 per cent pure gold cost Rs. 31,850.
      • A piece of 8-gram sovereign gold cost Rs.25,000.
      • Buying of silver coins remained unchanged at Rs.74,000 and selling of 100 pieces of silver coins was Rs.75,000.
      • Silver weekly-based delivery declined by Rs.124 to Rs.37,930 per kilogram.
      • Globally gold prices came down on Monday as the dollar held firm below a 19-month peak on safe-haven demand on the back of concerns of a global economic slowdown.

      20 December 2018

    • Gold Remains Steady As Dollar Inches Higher

      Gold rates were steady as the dollar rebounded, though local demand was flat. Spot gold traded at $1,236.85 per ounce even as the greenback recouped its earlier losses. However, gold futures dipped by 0.4% to trade at $1,241.4 per ounce.

      Asian stocks fell sharply, following trends seen across U.S. bourses as investors worried about slackening economic growth. Declines in long-term U.S. Treasury yields and fears over the resurgence of trade disputes also fuelled the drop in stocks.

      Domestic demand meanwhile remained stagnant as the falling rupee capped gold gains.

      5 December 2018

    • Gold prices rises on Tuesday, silver prices falls

      Gold prices for Tuesday, the 28th of November, remained steady around the RS.32,000 per 10 gram margin while silver rates declined due to a weaker demand for the metal.

      While gold prices ended at Rs.31,850 per 10 gram on the day, silver prices fell to Rs.37,300 per kg, which was a Rs.150 drop from the previous sessions rates. This comes after gold had gained Rs.100 per 10 gram over Monday’s session.

      Gold of 99.5% and 99.9% purity were unchanged at Rs.31,700 per 10 gram and Rs.31,850 per 10 gram respectively. Sovereign gold, on the other hand, remained unchanged at Rs.24,800 per piece of  8 gram.

      Silver rates dropped down by Rs.150 to Rs.37,300 per kg. In the global market, gold was seen inching lower as the US dollar firmed up. Spot gold prices went down by 0.1% to $1,220.97 per ounce while US gold futures dropped by 0.2% to $1,220.2 per ounce.

      Further, gold prices have dropped by as much as 10% since its peak in April as investors have retreated towards the US dollar owing to the trade war between the US and other European countries and China, as well as the interest rate hike scenario.

      29 November 2018

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