Kolkata Gold Prices Dip Slightly: Is It Still A Safe Investment?

The price of 22-karat gold in the city is currently at Rs 9,275 per gram, while 24-karat gold, popularly known as 999 gold, is priced at Rs 10,118 per gram.

Since gold is priced globally in US dollars, changes in the rupee-dollar exchange rate are instantly reflected in local rates, including those in Kolkata.

Source : PTI

Kolkata witnessed a marginal dip in gold prices on Saturday, reflecting broader movements across international markets. The price of 22-karat gold in the city is currently at Rs 9,275 per gram, while 24-karat gold, popularly known as 999 gold, is priced at Rs 10,118 per gram. Despite the small decline, gold continues to be one of the most preferred investment avenues for households and long-term investors.

India, which holds the position of the world’s second-largest gold consumer after China, depends heavily on imports to meet its requirements. Recycled gold contributes only a minor share to the overall demand. Since gold is priced globally in US dollars, changes in the rupee-dollar exchange rate are instantly reflected in local rates, including those in Kolkata.

Global and Domestic Factors Driving Price Trends

The movement in gold rates is influenced by both international and domestic elements. Globally, fluctuations in bond yields, investor sentiment shifts, and central bank policy updates tend to sway gold valuations. On the domestic front, import duties, the Goods and Services Tax (GST), and additional state-level charges add further layers that shape the final retail price.

Gold’s appeal as a safe-haven asset grows stronger during inflationary periods or when financial markets turn volatile. In recent weeks, slowing global growth signals, coupled with speculation over potential monetary easing in major economies, have made gold an attractive hedge once again. However, its vulnerability to sudden shifts in global trends keeps investors cautious.

City-Wise Gold Prices Across India

Alongside Kolkata, several other Indian cities reported similar rates on Saturday. In Delhi, 22-karat gold stood at Rs 9,290 per gram and 24-karat at Rs 10,133 per gram. In Mumbai, Bengaluru, Hyderabad, and Pune, rates matched Kolkata’s level of Rs 9,275 for 22-karat and Rs 10,118 for 24-karat. Ahmedabad and Indore posted slightly higher figures at Rs 9,280 for 22-karat and Rs 10,123 for 24-karat.

Meanwhile, Lucknow reported one of the highest rates, with 22-karat priced at Rs 9,290 per gram and 24-karat at Rs 10,133 per gram.

As global uncertainties persist, gold remains a key choice for investors in Kolkata who value long-term security and asset preservation.