Kolkata Gold Prices Surge: Why The Yellow Metal Is Still King Amidst Uncertainty

As per the latest figures, the price of 22-karat gold in Kolkata is Rs 9,390 per gram, while 24-karat gold, commonly known as 999 gold, is trading at Rs 10,244 per gram.

Given that gold is traded internationally in US dollars, the rupee’s performance against the dollar plays a key role in determining local rates.

Source : PTI

Gold prices in Kolkata saw a notable rise on Wednesday, mirroring a nationwide surge driven by both global and domestic factors. The precious metal continues to hold its ground as a preferred investment option for Indian households, offering security during uncertain times.

As per the latest figures, the price of 22-karat gold in Kolkata is Rs 9,390 per gram, while 24-karat gold, commonly known as 999 gold, is trading at Rs 10,244 per gram. These rates reflect the ongoing bullish trend supported by international market cues and currency movements.

Why Are Gold Prices Rising in Kolkata?

India, the second-largest consumer of gold globally after China, depends extensively on imports to satisfy domestic demand, as recycled gold accounts for only a small fraction of total supply. Given that gold is traded internationally in US dollars, the rupee’s performance against the dollar plays a key role in determining local rates. Any depreciation in the rupee typically makes imported gold costlier for Indian buyers.

Additionally, the tax structure within India adds multiple layers to gold pricing. Import duty, Goods and Services Tax (GST), and state-specific levies all influence final retail prices across cities. While these factors apply across the country, Kolkata buyers may also feel the pinch of state-level charges, which marginally alter local rates compared to other regions.

Cultural sentiment is another key driver of demand in Kolkata. Gold holds immense significance during festivals and weddings, making it a symbol of prosperity and financial security. In times of inflation or economic volatility, residents often view gold as a safe haven for preserving wealth.

Global Triggers Shape Local Gold Trends

The recent uptick in gold prices is not purely domestic in nature. International market dynamics—ranging from shifts in bond yields and monetary policies to investor confidence—exert a strong influence on gold valuations. Presently, uncertainty in global markets, coupled with expectations of policy easing in major economies, is fuelling demand for the yellow metal.

Despite this upward movement, analysts warn that volatility could persist due to fluctuating global conditions and the possibility of central banks revisiting their interest rate strategies. For now, however, gold remains a top choice for individuals in Kolkata seeking a hedge against inflation and economic instability.

Across other cities, prices have moved in a similar range. In Delhi, rates are slightly higher at Rs 9,405 per gram for 22-karat and Rs 10,259 for 24-karat gold. In Mumbai and Bengaluru, rates stand at Rs 9,390 and Rs 10,244 for 22-karat and 24-karat respectively.

As economic uncertainties loom large, gold continues to maintain its appeal as a store of value. Whether for cultural reasons or as part of an investment strategy, the metal remains firmly entrenched in Kolkata’s financial landscape.

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