Gold Prices Rise In Kolkata As Rupee, Global Factors Drive Demand

In Kolkata, the current price of 22-karat gold stands at Rs 10,320 per gram, while 24-karat gold (also known as 999 gold) is priced at Rs 11,258 per gram.

Domestic gold prices are not only guided by international market benchmarks but are also shaped by multiple taxation layers.

Source : Freepik

Gold prices registered an upward movement on Monday, with Kolkata reflecting the broader nationwide trend. India, the world’s second-largest consumer of gold after China, continues to rely heavily on imports to satisfy domestic demand, as recycled gold contributes only a limited share to overall supply. Because the bullion market operates in US dollars, any fluctuation in the rupee-dollar exchange rate directly influences the final price paid by Indian consumers.

In Kolkata, the current price of 22-karat gold stands at Rs 10,320 per gram, while 24-karat gold (also known as 999 gold) is priced at Rs 11,258 per gram. These rates mirror the market’s recent rise as investors sought safety in the yellow metal amid global uncertainty.

Global Cues Shape Gold’s Rally

Domestic gold prices are not only guided by international market benchmarks but are also shaped by multiple taxation layers. Import duty, Goods and Services Tax (GST), and various state-level levies ultimately determine how much customers pay at the counter.

Internationally, gold’s performance remains linked to several critical factors, including changes in bond yields, monetary policy actions by central banks, and the metal’s traditional role as a safe-haven asset during economic or geopolitical turbulence. On Monday, the sentiment was positive, with gold gaining support as bond yields remained steady and investors anticipated signals from global central banks regarding policy easing.

Gold’s resilience stems largely from its position as a hedge against inflation and currency fluctuations. For buyers in Kolkata, this has translated into higher price tags, as domestic markets align with the global mood while being sensitive to movements in the rupee.

Kolkata Rates in Context with Other Cities

Across India, Monday’s prices varied slightly from one city to another. In Delhi, the rates stood at Rs 10,335 per gram for 22-karat and Rs 11,273 for 24-karat gold. Chennai saw higher levels at Rs 10,360 for 22-karat and Rs 11,302 for 24-karat. In Mumbai, Pune, and Bengaluru, rates were in line with Kolkata at Rs 10,320 for 22-karat and Rs 11,258 for 24-karat.

Ahmedabad and Indore recorded Rs 10,325 for 22-karat and Rs 11,263 for 24-karat, while Hyderabad matched Kolkata with Rs 10,320 and Rs 11,258 respectively. Lucknow saw slightly higher rates at Rs 10,335 and Rs 11,273 for 22-karat and 24-karat gold.

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