Gold Rates In Kolkata Climb On July 30; 24K Gold Hits Rs 10,048 Per Gram

India remains the world’s second-largest consumer of gold after China, and a major portion of its demand is satisfied through imports.

Gold’s reputation as a safe-haven asset remains strong in India, particularly in times of inflation or financial instability.

Source : Freepik

Gold prices in Kolkata advanced on July 30, keeping pace with a broader nationwide trend that has seen bullion values firm up over recent weeks. According to market updates, 22-karat gold was quoted at Rs 9,210 per gram, while 24-karat gold — the purest form of the yellow metal, also known as 999 gold — rose to Rs 10,048 per gram.

India remains the world’s second-largest consumer of gold after China, and a major portion of its demand is satisfied through imports. Recycled gold only contributes marginally to the overall supply chain. This heavy reliance on imports means that Indian gold prices respond quickly to international market shifts, with the rupee-dollar exchange rate playing a particularly crucial role. Any depreciation in the rupee raises import costs, pushing up domestic prices.

Multiple Factors Push Up Gold Prices in Kolkata

Global market conditions aren’t the sole drivers of Kolkata’s gold rates. Domestic factors like import duties, Goods and Services Tax (GST), and state-level levies further add to the retail cost. These layers of taxation are important for end buyers, who often face slightly varying prices from city to city.

Kolkata’s prices on July 30 mirror those in cities such as Mumbai, Bengaluru, Hyderabad and Pune — all quoting Rs 9,210 for 22K and Rs 10,048 for 24K. In contrast, Delhi and Lucknow posted the highest prices, with 22K gold at Rs 9,225 and 24K at Rs 10,063. Ahmedabad and Indore were marginally higher than Kolkata at Rs 9,215 for 22K and Rs 10,053 for 24K.

Gold Retains Its Allure Amid Economic Uncertainty

Gold’s reputation as a safe-haven asset remains strong in India, particularly in times of inflation or financial instability. Investors and households alike see gold as a store of value, not just an ornament. In Kolkata, where jewellery purchases are deeply tied to cultural traditions and festivals, this price rise could impact buying behaviour but is unlikely to dent long-term demand.

As international factors — from bond yields and central bank policies to currency swings — continue to evolve, buyers in Kolkata will be watching the market closely. The city’s gold rates remain a bellwether for demand trends in eastern India, reinforcing the metal’s enduring role in both personal finance and tradition.