Gold Prices In Kolkata Decline On Tuesday Amid Global Market Weakness

The current rate for 22-karat gold in the city is Rs 9,295 per gram, while 24-karat gold (999 gold) is priced at Rs 10,140 per gram.

Kolkata witnessed a notable fall in gold prices on Tuesday, aligning with the downward movement seen across major Indian cities. The current rate for 22-karat gold in the city is Rs 9,295 per gram, while 24-karat gold (999 gold) is priced at Rs 10,140 per gram. The dip comes against a backdrop of global market softness and shifting investor sentiment.

India, the world’s second-largest gold consumer after China, meets the bulk of its domestic demand through imports, with recycled metal contributing only marginally. Since gold is traded internationally in US dollars, any fluctuation in the rupee-dollar exchange rate directly impacts domestic valuations. This currency linkage makes Indian gold prices especially sensitive to foreign exchange movements.

Factors Driving Today’s Decline in Gold Prices

Aside from currency swings, a combination of local and international factors influences Kolkata’s gold rates. Import duties, the Goods and Services Tax (GST), and state-level levies all play a role in setting final retail prices. Globally, gold is viewed as a safe-haven asset, often gaining traction during inflationary pressures or geopolitical uncertainties. However, prices also remain vulnerable to changes in bond yields, central bank policies, and broader economic trends.

On the global front, subdued demand and a slight uptick in the US dollar weighed on sentiment. Recent shifts in US economic data have influenced market expectations for interest rate adjustments by the Federal Reserve. Meanwhile, investor focus remains on upcoming policy decisions that could determine short-term price direction.

Kolkata’s Rates in the Wider National Context

Kolkata’s current prices mirror those in several other major markets, including Mumbai, Chennai, and Bengaluru, where 22-karat gold is also trading at Rs 9,295 per gram and 24-karat gold at Rs 10,140 per gram. By contrast, Delhi and Lucknow are seeing slightly higher prices of Rs 9,310 per gram for 22-karat and Rs 10,155 per gram for 24-karat gold, while Ahmedabad and Indore have set rates at Rs 9,300 and Rs 10,145 respectively.

Despite today’s fall, gold continues to attract investors seeking stability amid economic uncertainty. For many in Kolkata, the metal remains more than just a commodity—it is a time-tested store of wealth and a traditional choice for weddings, festivals, and long-term savings. With ongoing volatility in financial markets, demand for physical gold is expected to remain steady, even if prices experience near-term corrections.