Gold Prices Ease In Kolkata On August 7 Amid Softer Global Trends

The drop in Kolkata’s gold prices comes on the back of softer international bullion rates and a relatively stable rupee against the US dollar

Market analysts suggest that the current dip could encourage festive-season buying in the city

Source : ABPLIVE AI

Gold prices in Kolkata slipped slightly in August, offering relief to buyers after a period of steady gains. The rate for 22-karat gold in the city stands at Rs 9,445 per gram, while 24-karat gold (999 purity) is priced at Rs 10,304 per gram. The decline mirrors the trend seen in several other Indian cities as global market cues softened.

In Delhi, 22K gold is priced at Rs 9,460 per gram and 24K at Rs 10,319 per gram. Mumbai, Bengaluru, Pune, Hyderabad, and Chennai share the same rates as Kolkata, Rs 9,445 for 22K and Rs 10,304 for 24K.

Slightly higher prices were recorded in Ahmedabad and Indore, where 22K gold stands at Rs 9,450 per gram and 24K gold at Rs 10,309 per gram. Lucknow leads the list today with 22K gold at Rs 9,460 per gram and 24K at Rs 10,319 per gram.

What’s Driving The Decline?

The drop in Kolkata’s gold prices comes on the back of softer international bullion rates and a relatively stable rupee against the US dollar. This has reduced some of the upward pressure seen in recent weeks, when gold gained on safe-haven demand amid global economic uncertainty.

Market analysts suggest that the current dip could encourage festive-season buying in the city, especially given Kolkata’s strong tradition of gold jewellery purchases during Durga Puja and wedding celebrations.

Gold Retains Its Shine Amid Global Turmoil

Gold prices continue to draw strength from a mix of global financial instability, persistent inflation, and rising geopolitical tensions. These conditions have reinforced the metal’s reputation as a dependable hedge against uncertainty and a trusted store of value for investors worldwide.

In India, and particularly in Kolkata, gold remains a preferred investment choice as households and traders navigate unpredictable economic conditions. The approaching festive season is likely to add fresh momentum to physical demand, with analysts forecasting heightened price fluctuations in the near term.