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Gold Rate in West Bengal
West Bengal is the fourth-most populous state in India, with more than 91 million people. It is an ethno-linguistic state with a proud history of kingdoms and empires that have contributed significantly to the country’s glorious past. As such, the demand for gold in the state is constantly increasing as people make purchases on a consistent basis when there are festivals. Since gold is considered a part of the cultural and traditional heritage of West Bengal, dealers in the state are never short of supply to meet the never-ending demand.
Gold Rate Trend in West Bengal for October 2017 to December 2017 (per gram of 24 karat gold)
|1st day||Rs.3,109 per gram||Rs.3,071 per gram||Rs.3,074 per gram|
|Last day||Rs.3,091 per gram||Rs.3,085 per gram||Rs.3,098 per gram|
|Highest price||Rs.3,138 per gram from 12 to 17 October||Rs.3,123 per gram on 20, 25th and 26th November||Rs.3,098 per gram on 30 and 31 December|
|Lowest price||Rs.3,079 per gram from 27 to 29 October||Rs.3,035 per gram 18 November||Rs.3,001 per gram on 12 and 13 December|
Gold Rate Trend in West Bengal for July 2017 to September 2017 (per gram of 24 karat gold)
|1st day||Rs.3,011 per gram||Rs.3,005 per gram||Rs.3,041 per gram|
|Last day||Rs.3,001 per gram||Rs.3,041 per gram||Rs.3,109 per gram|
|Highest price||Rs.3,044 per gram on 3 July||Rs.3,072 per gram on 17 August||Rs.3,185 per gram from 8-11 September|
|Lowest price||Rs.2,903 per gram on 14 July||Rs.2,971 per gram on 7 August||Rs.3,041 per gram on 1 & 2 September|
Gold Rate Trend in West Bengal for July 2017:
- West Bengal was one of the few states which wasn’t as affected by GST as the other states.
- On the 1st of July, gold traded at Rs.3,011 per gram in the east Indian state. As local investors decided to purchase more gold before the fall could occur, gold rates went up to Rs.3,044 per gram on the 3rd of July.
- Rates seen on the 3rd happened to be the highest gold rate this month.
- However, the 3% GST on gold purchases was too much to bear for investors. This led to most of them backing off of trade exchanges.
- Gold rates in West Bengal went down to as low as Rs.2,903 per gram on the 14th of July.
- But, from that period on, gold sales picked up as the US dollar seemed to waver slightly and local purchases improved.
- This led to gold prices in West Bengal surging to end at Rs.3,001 per gram on the last day of this month.
- Overall, gold rate trend decline by 0.33% due to weak purchasing trend from local markets.
Gold Rate Trend in West Bengal for August 2017:
- Gold prices this month were on the incline due to increased purchases towards the end of the month.
- When the month began, gold was priced at Rs.3,005 per gram, which dropped to monthly low figure of Rs.2,997 per gram on the 7th as the US dollar gained against other currencies.
- As local trading saw a rise, gold rates in West Bengal went up to Rs.3,072 per gram on the 17th - the month’s highest gold rates.
- Gold rates in West Bengal went down towards the 3rd and the 4th week due to weak local cues.
- But, festive season demand saw gold prices bounce back to end at Rs.3,041 per gram when the month ended.
- Overall, price trend surged by 1.19%, owing to a weak US dollar after Hurricane Harry wreaked havoc on the US economy.
Gold Rate Trend in West Bengal for September 2017:
- Gold trading in West Bengal was also positive, thanks to the Diwali season and the geopolitical concerns between the US and North Korea.
- On the 1st of September, the yellow metal traded at Rs.3,041 per gram.
- After the US-North Korea issue sent the US economy crashing. Rates went up to as high as Rs.3,185 per gram on the 8th and remained the same till the 11th of September.
- However, a positive US economic outlook saw the dollar improve and continue improve, thereby pushing gold rates down.
- The final day of the month saw gold trading at Rs.3,109 per gram.
Gold Rate Trend in West Bengal for April 2017 to June 2017 (per gram of 24 karat gold)
|1st day||Rs.3,011 per gram||Rs.3,021 per gram||Rs.3,030 per gram|
|Last day||Rs.3,021 per gram||Rs.3,015 per gram||Rs.3,011 per gram|
|Highest price||Rs.3,096 per gram on 17, 22 & 23 April||Rs.3,034 per gram on 30 May||Rs.3,080 per gram on 7 June|
|Lowest price||Rs.3,011 per gram from 1-3 April||Rs.2,937 per gram on 11 May||Rs.2,994 per gram on 19 & 20 June|
Gold rate trend in West Bengal for April 2017
- The price of gold in West Bengal was on the ascent as April began, with gold trading at Rs.3,011 per gram on 1 April and reaching Rs.3,034 per gram on 4 April.
- Demand dropped due to the U.S. dollar strengthening against other global currencies, as gold prices fell to Rs.3,005 per gram on 10 April.
- Prices rose as there was a sharp drop in the dollar rate due to tensions with North Korea, as gold prices rose to Rs.3,065 per gram from 13-16 April.
- The investigation into Russian involvement in the U.S. presidential election led to markets falling, as gold reached Rs.3,096 per gram on 17 April.
- Demand began to drop as the month ended as industrial demand decreased and the markets recovered, resulting in gold trading at Rs.3,021 per gram on 30 April.
Gold rate trend in West Bengal for May 2017
- Demand for gold fluctuated in May due to the upcoming French presidential election, with the metal opening the month at Rs.3,021 per gram and falling to Rs.2,947 per gram on 6 & 7 May.
- The victory of Emmanuel Macron led to markets surging and currencies strengthening, which led to a decline in demand for gold.
- Local demand helped keep prices stable, as gold traded at Rs.2,939 per gram on 13 May.
- Prices began to rise as industrial demand increased following the decline of the dollar rate, with gold trading at Rs.3,003 per gram on 18 May.
- The ongoing political turmoil in the United States and the OPEC meeting led to the U.S. dollar rate falling, which led to gold prices rising to Rs.3,029 per gram on 23 May.
- Prices fluctuated in the last week of May, with gold falling to Rs.3,012 per gram on 26 May before recovering to end the month at Rs.3,015 per gram on 31 May.
Gold rate trend in West Bengal for June 2017
- Gold prices in June were volatile due to fluctuating markets and an unstable U.S. dollar rate, with gold trading at Rs.3,030 per gram on 1 June.
- Prices rose in the initial weeks as the markets were low due to upheavals in the U.S. political system as well as the possibility of a repeal of the healthcare system.
- Gold traded at Rs.3,080 per gram on 7 June before prices dropped to Rs.3,028 per gram on 10 June due to a sharp drop in industrial demand as markets stabilised.
- The recovery of the U.S. dollar as well as stable domestic markets led to gold prices stagnating, as gold traded at Rs.3,024 per gram on 12 & 13 June.
- Prices dropped to Rs.2,994 per gram on 19 June as Asian markets reduced demand due to high import costs as the dollar was strong.
- Demand continued to be muted but prices rose as the month was ending, with gold priced at Rs.3,011 per gram from 27-30 June.
Gold Rate Trend in West Bengal for January 2017 to March 2017 (per gram of 24 karat gold)
|1st day||Rs.2,843 per gram||Rs.2,989 per gram||Rs.3,030 per gram|
|Last day||Rs.2,989 per gram||Rs.3,008 per gram||Rs.2,987 per gram|
|Highest price||Rs.3,014 per gram on the 24th of January||Rs.3,010 per gram from the 20th of February to the 22nd of February||Rs.3,030 per gram on the 1st and 27th of March|
|Lowest price||Rs.2,838 per gram on the 2nd of January||Rs.2,977 per gram on the 2nd of February||Rs.2,945 per gram on the 15th of March|
Gold Rate Trend in West Bengal for January 2017:
- West Bengal, like other states and cities in the country, saw gold price trend follow a positive path for the month of January.
- After massive downfall in gold prices during Q4 2016, increase in the first quarter of 2017 was seen as a welcome move.
- The month began with gold trading at Rs.2,843 per gram but decreased to Rs.2,838 per gram - the lowest gold rate for the month.
- Despite some fluctuations, gold prices seemed to be on the positive side for much of the month.
- On 24th, gold prices hit their highest of Rs.3,014 per gram as demand increased due to uncertainty over US monetary policy.
- However, the rapid influx of demand underwent a correction towards the end of the month.
- January came to an end with gold trading at Rs.2,989 per gram, marking a price trend increase of 5.13% for the month.
Gold Rate Trend in West Bengal for February 2017:
- As the US Federal Reserve increased its interest rate, gold prices seemed to take a hit during February.
- The month began with gold trading at Rs.2,989 per gram but fluctuated a lot due to some positive and negative factors a la US monetary policy and Fed rate hike.
- Gold rates in West Bengal hit their lowest on 2nd as the metal was seen trading at Rs.2,977 per gram.
- After enduring a tough period over the second week, gold prices reached their highest on 20th when the yellow metal was trading at Rs.3,010 per gram.
- The next few days saw gold prices being corrected, which led gold trading at Rs.3,008 per gram.
- Though February saw a positive price trend, the change actually signalled the arrival of worse days in March.
Gold Rate Trend in West Bengal for March 2017:
- As predicted, gold prices in March seemed to fall as US fed rate hike brought prices down significantly.
- On 1st of March, gold was priced at Rs.3,030 per gram, but as the US decided to change the Federal Reserve interest rate for a record second time in 2 months, gold prices around the world slowed down.
- As investors backed out more and more, prices went down to Rs.2,945 per gram by the end of 15th.
- Bullion rates, however, rallied by the end of the month to end at Rs.2,987 per gram.
- Price trends in West Bengal changed by -1.41% as demand from domestic and global circles fell due to Fed rate hike.
|1st day||Rs.3,244 per gram||Rs.3,130 per gram||Rs.2,884 per gram|
|Last day||Rs.3,130 per gram||Rs.2,926 per gram||Rs.2,843 per gram|
|Highest price||Rs.3,244 per gram from 1st-11th October||Rs.3,190 per gram on 3rd & 4th November||Rs.2,963 per gram on 1st & 2nd December|
|Lowest price||Rs.3,100 per gram on 18th October||Rs.2,919 per gram on 27th November||Rs.2,749 per gram from 24th-26th December|
Gold Rate Trend for West Bengal in October 2016
- The price of gold in West Bengal for the month of October was stable as the month began, but low demand led to a decline in price as the month progressed.
- Gold traded at Rs.3,244 per gram on 1st October due to increasing orders by jewellers on account of the upcoming festive and wedding season.
- Demand from industry was also consistent at the start of the month but fell as the U.S. Dollar strengthened on the possibility of an interest rate hike by the U.S. Federal Reserve.
- The retails sector also saw a slump in demand towards the end of the month, which led to a decline in price.
- Gold was priced at Rs.3,130 per gram as the month ended, with the price falling by 3.5% as demand dipped.
Gold Rate Trend for West Bengal in November 2016
- The price of gold fell sharply during the month after an initial rally due to stable markets which led to a reduction in demand from industry.
- Gold traded at Rs.3,130 per gram on 1st November, with the price rising to Rs.3,190 per gram on 3rd November as markets dipped over uncertainty regarding the upcoming U.S. election results.
- Gold prices rose following the announcement of the withdrawal of large currency notes in India, as investors rushed to the safe haven asset.
- Prices regularised as markets began to recover and demand dipped, due to a reduction in industrial demand from Asia.
- The currency shortage also led to a reduction in demand, as jewellers reduced orders during peak season due to declining sales.
- Prices stayed low as the month ended, with gold trading at Rs.2,926 per gram on 30th November to record a loss of 6.51%.
Gold Rate Trend for West Bengal in December 2016
- Demand for gold was lower than expected, with gold trading at Rs.2,884 per gram on 1st December.
- An imminent Fed rate hike boosted the U.S. Dollar, which traded high, leading to a decrease in demand for gold.
- The Christmas season saw a decrease in demand for gold as markets stabilised due to higher sales volumes, reducing dependency on gold as a safe haven asset.
- Prices dipped to a low of Rs.2,749 per gram on 24th December as both retail and industrial demand slumped.
- The currency shortage reduced demand for gold during the festive season, which also contributed to keeping gold prices low.
- The price of gold rose towards the end of the month as fears of a slowdown in Asia led investors to purchase safe haven assets.
- Gold traded at Rs.2,843 per gram on 31st December.
|1st day||Rs.3,252 per gram||Rs.3,271 per gram||Rs.3,218 per gram|
|Last day||Rs.3,292 per gram||Rs.3,237 per gram||Rs.3,244 per gram|
|Highest price||Rs.3,305 per gram on 7th July||Rs.3,287 per gram from 5th to 7th August||Rs.3,244 per gram from 7th September to 30th September|
|Lowest price||Rs.3,218 per gram from 27th July to 29th July||Rs.3,232 per gram on the 9th of August||Rs.3,200 per gram on 5th and 6th September|
Gold Rate Trend of West Bengal in July 2016
- The price of gold was Rs.3,252 per gram on 1st July.
- Prices rose consistently until the 4th of the month, after which they fluctuated as marginal increases were written off by subsequent gains over the course of the month.
- The highest recorded rate in the month of July was recorded on the 7th when prices soared to Rs.3,305 per gram.
- Gold closed the month at Rs.3,392 per gram.
Gold Rate Trend of West Bengal in August 2016
- The price of gold per gram on the 1stt of August was Rs.3,271, and rate increased on the next two days.
- The highest recorded rate in August was Rs.3,287 per gram between the 5th and 7th day of the month.
- Fluctuations continued until the 12th of August, after which prices became stable at Rs.3,248 from the 13th to the 17th.
- Prices were stable between the 18th and 28th at Rs.3,277.
- Prices then declined to Rs.3,237 on the 29th and remained stable until the end of the month to record an overall decline of 1.4%.
Gold Rate Trend of West Bengal in September 2016
- Gold traded at Rs.3,218 per gram on 1st September and prices remained unchanged on the 2nd.
- Rates rose to Rs.3,239 on the 3rd and remained constant on the 4th.
- Prices then declined to Rs.3,200 and remained constant on the 6th, making it the lowest recorded rate in the month.
- On the 7th of September, prices rose to Rs.3,244 and remained stable until the month.
- The overall increase in rates between the first and last day of September was less than 1%.
|1st day||Rs.3,018 per gram||Rs.3,018 per gram||Rs.3,015 per gram|
|Last day||Rs.3,018 per gram||Rs.3,003 per gram||Rs.3,221 per gram|
|Highest price||Rs.3,018 per gram on April 30th||Rs.3,157 per gram from the 7th to 11th of May||Rs.3,259 per gram from June 24th and 27th and on June 29th|
|Lowest price||Rs.3,018 per gram on April 4th||Rs.3,003 per gram from the 27th to 30th of May||Rs.2,988 per gram on 4th of June|
Gold Rate Trend of West Bengal in April 2016
- Gold prices remained unchanged throughout the month and stood at Rs.3,018 for the entirety of the 30-day period.
Gold Rate Trend of West Bengal in May 2016
- Gold prices remained unchanged on the first day of May, at Rs.3,018.
- Prices fluctuated during the first week of May, but increased marginally on the 7th and remained unchanged until the 11th at Rs.3,157.
- Fluctuations continued over the month and the lowest price recorded in May was between the 27th and 30th when they plunged to Rs.3,003.
- The overall decline in prices when comparing the first day of May to the last was just Rs.15.
Gold Rate Trend of West Bengal in June 2016
- Gold prices were recorded at Rs.3,015 on the 1st of June and fluctuated over the course of the month.
- The highest recorded rate in June was between the 24th and 27th as well as on the 29th when prices soared to Rs.3,259.
- The overall increase in prices between the first and last day of the month was Rs.206.
|1st day||Rs.2,547 per gram||Rs.2,718 per gram||Rs.3,090 per gram|
|Last day||Rs.2,692 per gram||Rs.3,067 per gram||Rs.3,018 per gram|
|Highest price||Rs.2,705 per gram on January 30th||Rs.3,092 per gram on 26th of February||Rs.3,090 per gram on March 1st and March 3rd to 18th|
|Lowest price||Rs.2,547 per gram on January 1st and 2nd||Rs.2,718 per gram on 1st of February||Rs.3,018 per gram from 22nd to 31st of March|
Gold Rate Trend of West Bengal in January 2016
- Gold traded at Rs.2,547 per gram on the 1st of January with consistent increases over the next few days resulting in an increase in rates.
- The highest price in the month was recorded on the 30th when rates soared to Rs.2,705.
- Prices fell on the last day of the month and closed at Rs.2,705, marking an overall increase of Rs.171 between the first and last day of the month.
Gold Rate Trend of West Bengal in February 2016
- Gold prices were recorded at Rs.2,718 per gram on the 1st of February, followed by consistent increases over the following weeks.
- Gold rates rose to Rs.3,092 on the 26th of the month, making it the highest recorded price during February.
- A steady rise in prices over the 29 days meant that gold closed the month at Rs.3,067 per gram.
Gold Rate Trend of West Bengal in March 2016
- Gold prices were recorded at Rs.3,090 on the 1st of March after which a decline saw prices fall to Rs.3,030.
- Prices rose on the 3rd to Rs.3,090 and remained unchanged until the 18th of the month, making it the highest recorded rate during the month.
- Prices then fell and remained constant at Rs.3,019 for three days, after which a decline by Re.1 took prices down to Rs.3,018 and they remained unchanged until the end of the month.
- The overall decline in prices between the first and last day of March was Rs.71.
Details of Gold Price in West Bengal(22 Karat & 24 Karat) - Till October 2015
24 carat gold: The purest form of gold on the planet, 24 carat gold comes with 99.99% purity, making it the most expensive form of the metal. If you’re looking to purchase 24 carat gold in West Bengal, you will have to spend Rs 2726 for one gram as of 16 October, 2015.
22 carat gold: 22 carat gold is slightly different from 24 carat gold in the sense that the purity of the element is 92% in comparison with the 99.99% of 24 carat gold. If you wish to buy 22 carat gold in West Bengal, you will have to pay Rs 2548 per gram as of 16 October, 2015.
Gold Investment Avenues in West Bengal
West Bengal has multiple options for investors who wish to purchase gold. Following are the most common forms that buyers can choose from based on their unique investment requirements.
Market trade: E-Gold, future contracts and ETFs (Exchange Trade Funds) are the most popular opportunities so far as gold trading is concerned. Most investors choose ETFs as they not only provide good returns, but can also be traded on the Mumbai Stock Exchange. Future contracts are also attractive offers for investors to consider as they provide protection against market fluctuations and buyers have the option of taking possession of their purchase on a predetermined date. E-Gold is mainly purchased by investors who don’t really want to take possession of the metal, but rather sell it at a later date for a profit. E-Gold may be bought and sold via the National Spot Exchange Limited and investors are afforded the option of physically owing the metal should they prefer to do so.
Over-the-counter: A large number of gold investors in West Bengal prefer to buy gold in the form of jewellery, coins and bullions. Gold coins and bullions can be purchased from major dealers and banks across the state, but local prices are often dictated by international rates. Majority of the investors generally choose to purchase from local dealers instead of banks because the prices charged by dealers are significantly less. Banks charge slightly more than dealers because of quality assurance.
Also Check Gold Prices in the Cities of West Bengal
|Gold Rate In Siliguri||Gold Rate in Kolkata|
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