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Gold Rate in Kolkata (23rd February 2017)

Our gold price in Kolkata will help discerning investors to make the right choices, when it comes to buying the precious metal for investment or merely for consumption. Please do check todays gold rates in Kolkata, before you choose to buy gold and other precious ornaments in India.

Today 22 Carat Gold Price Per Gram in Kolkata (INR)

Gram 22 Carat Gold
Today
22 Carat Gold
Yesterday
Daily Price Change
1 gram ₹ 2,860.80 ₹ 2,871.80 ₹ -11
8 gram ₹ 22,886.40 ₹ 22,974.40 ₹ -88
10 gram ₹ 28,608 ₹ 28,718 ₹ -110
100 gram ₹ 2,86,080 ₹ 2,87,180 ₹ -1,100

Today 24 Carat Gold Rate Per Gram in Kolkata (INR)

Gram 24 Carat Gold
Today
24 Carat Gold
Yesterday
Daily Price Change
1 gram ₹ 3,060 ₹ 3,071.80 ₹ -11.80
8 gram ₹ 24,480 ₹ 24,574.40 ₹ -94.40
10 gram ₹ 30,600 ₹ 30,718 ₹ -118
100 gram ₹ 3,06,000 ₹ 3,07,180 ₹ -1,180

Gold Rate in Kolkata for Last 10 Days (10 g)

Date 22 Carat 24 Carat
Feb 22, 2017 ₹ 28,608 ₹ 30,600
Feb 21, 2017 ₹ 28,718 ₹ 30,718
Feb 20, 2017 ₹ 28,718 ₹ 30,719
Feb 19, 2017 ₹ 28,720 ₹ 30,717
Feb 18, 2017 ₹ 28,624 ₹ 30,610
Feb 17, 2017 ₹ 28,612 ₹ 30,110
Feb 16, 2017 ₹ 28,387 ₹ 30,365
Feb 15, 2017 ₹ 28,393 ₹ 29,304
Feb 14, 2017 ₹ 28,426 ₹ 30,409
Feb 13, 2017 ₹ 28,176 ₹ 30,033

Weekly & Monthly Graph of Gold Price in Kolkata

Historical Price of Gold Rate in Kolkata

  • Gold Price Movement in Kolkata, January 2017
  • Gold Rates 22 Carat 24 Carat
    1 st January rate Rs.26,989 Rs.28,884
    31st January rate Rs.27,858 Rs.29,713
    Highest rate in January Rs.28,268 on January 24 Rs.30,888 on January 24
    Lowest rate in January Rs.26,989 on January 2 Rs.28,884 on January 2
    Over all performance Rising Rising
    % Change +3.22% +2.87%
  • Gold Price Movement in Kolkata, December 2016
  • Gold Price Movement in Kolkata, November 2016
  • Gold Price Movement in Kolkata, October 2016
  • Gold Price Movement in Kolkata, September 2016
  • Gold Price Movement in Kolkata, August 2016

How is Gold rate Kolkata today per gram different when compared to other cities?

Have you ever wondered why gold prices today in Kolkata differs from other cities. We cannot say with certainty whether the rates would be high or low on a given day. What we know is that they are never different on any given day. Now, many individuals ask why this differs. There are plenty of reasons for the same and there is no one reason. For example, Kolkata being a port city gold can be imported much easier. However, that is not the case. For example, take the case of tariffs. If the tariffs in the city differ than the gold rates today of Kolkata would be much higher than that of other cities. Again transportation costs play an important role in determining the price of gold.

The buyer of course ends up paying so much more in India, as compared to the international rates, because of so many costs involved. So, the best thing and the only thing that will help you make money is to look at prices. If gold rates in Kolkata today are low, you can make money or else you cannot. If you buy the metal as a compulsion, just buy and hold.

Taking a gold loan in Kolkata?

if you have never taken a gold loan in kolkata, you could always opt for one. However, there are some things that you should remember, before you opt for a gold loan in Kolkata. Some of these are as follows:

1) It is the easiest and the quickest loan to take in the country. Probably you are out of the gold loan finance company in a few minutes.

2) There are a number of gold loan companies in the country, including the likes of Muthoot Finance and Manappuram Finance, which are the two largest players in the business.

3) Banks also lend for gold purchases. But their interest rates maybe slightly higher and their ability to complete the gold loan quickly is a bit doubtful.

4) Dangerous consequences: Remember that if you do not pay back your loan, the chances are bright that your gold could be confiscated by the gold loan company. So you need to take uttermost care to payback the amount.

5) It is extremely important to remember to compare the gold loan rates. If the banks are giving you the loan cheaper, it is better to opt for the bank loan. However, do also take a look at the processing and other charges that maybe applicable. Remember ans also compare gold loan to value. that is the amount of loan that one would get. For example if it is 80 per cent then if you have Rs 1 lakh value of gold you should get at least Rs 80,000 as loan. Always remember to check the rate of 10 grams gold in Kolkata before you go for a loan.

Gold Rate in Kolkata, 22 & 24 Carat Gold Price Today

How is Kolkata gold price live arrived at?

Gold rates at various popular jewellers like Anjali Jewellers in Kolkata and P C Chandra Jewellers in Kolkata is arrived at through various means. Let us study those means by which you arrive at the prices. First, you have the international prices of gold, which is the base at which we arrive at live gold rates in Kolkata. To that the following things would be applicable to arrive at the prices:

1) Import duty on gold

2) Value added tax on gold

3) Margins or bank charges to import the gold.

4) A coordination of the bullion association with the big dealers to arrive at the local prices in Kolkata.

5) Gold rates on the MCX would also be a factor in determining the prices of gold.

6) Exchange parity that has to be kept in mind. So, if the rupee falls gold prices would change accordingly in Kolkata.

Now, one question that all investors and buyers of gold always tend to ask is: how many times do gold rates in Kolkata change: the answer is that it is very difficult to say. Most often if gold prices are volatile the prices may change more often. So, one cannot say with some certainty that the 916 live gold prices in Kolkata would change once or twice a day and it really depends on volatility of the metal. It is important at all times to check the prices before you buy, especially if you are a long term investor. If you can hold and buy, you could make profits.

Kolkata: How to get gold imported?

If you are looking to get gold into the city of Kolkata, there are a few restrictions. Let us understand these restrictions.

1) You cannot get more than 1 kg gold. Considering the huge imports and their import into India, there is a restriction of imports to the tune of 1 kg. So, whether you pay import duty or not, this restriction is likely to apply.

2) If a male traveller gets more than Rs 50,000 worth of gold into the country he or she is liable to pay import duties that are applicable. On the other hand, for a female traveller the amount is restricted to Rs 1 lakh.

3) The simple norm for getting gold is into the country is that you should stay outside the country for a period of 1 year. What this means is that if you just travel from abroad for holidays, you might not be able to avail the facilities.

4) One can also import the gold into India not on your person. What this means you can get the gold separately imported. The gold so imported ca be sold in any manner and towards that end there are no restrictions.

5) You cannot imported ornaments that are studded with diamonds and other precious metals.

It is very important to make sure that you are in complete compliance with the above mentioned norms, before you invest.

How gold prices have surged in Kolkata?

Consider this: Up until Jan 2002, gold prices in Kolkata were barely Rs 3100. Gold rates in Kolkata today, have soared to Rs 28,500 per 10 grams for 22 grams. So, what you have got is an almost 850 per cent jump in gold prices in the last 11 years or so. Each time we try to understand why gold prices have soared in Kolkata and the answer is simple: Due to the risk element. Let us now understand this. The biggest factor that influences gold prices in Kolkata like any other city across the globe is the risk element. After the Lehman Brothers crisis in the US, investors were a very worried lot, given the fact that there was a serious financial crisis. This saw gold prices doubling after 2008 as investors turned risk averse. This probably also led to some serious demand in the city of Kolkata. In any case the country has always seen very steady demand coming in from a host of all sections of the population. In fact, the craving for it has never been less and as we go ahead, we should see even more of that. Whether gold prices in Kolkata would triple in the next few years, like it has in the past, is a big question mark?

Risk to reward no longer favourable

Gold rates in Kolkata today have shot up in the last two-years and it is unlikely that we will see any brisk movement for the precious metal. If you are a buyer, it maybe time to stay away and we tell you why. Let us assume that you buy gold in Kolkata at the current price of Rs 28,000 or so. Now, if you pay taxes, when buying something like a gold coin, your costs increase buy at least 10 per cent. To recover that costs you need to make 10 per cent higher returns, as well as the high costs for buying gold. this means your risk to reward ratio is highly unfavourable. So, the best thing would be to refrain from buying at such high prices. The only way you can make money is adopting a strategy of buying low. Say for example, you should set yourself a target of about Rs 27,000 and buy the ornaments when it reaches these levels. Chasing any and every rate is a bad idea. So, what is the best rate to buy the precious metal is not a good question to answer. Prices are always relative and what is good for one, maybe bad for another. Set a target for yourself and try to buy the metal within the said range. It is always better to buy at a lower rate. The only way that you can do better and better is with targetting low prices and finally going to sell at higher rates.

Central banks buying gold and its impact on Kolkata rates

When the central banks across the globe, buy gold it tends to affect gold prices to an extent. For example, last year when there were reports that China's gold reserves had dropped, it led to a fall in gold prices across the globe, which had its impact on China as well. Now an interesting trend that is fast emerging is that central banks have tapered their purchases of the precious metal. In the past there have been big purchases of the precious metal, but, we are increasingly seeing that the major institutional investors are now shying away. Now look at some interesting statistics to keep that in mind. Until late November 2016, central banks have purchased 271.1 tonnes, lagging the 407.7 tonnes for the same period in 2015. Central bank holdings according to available statistics is now 13 per cent of the total gold. As and when central banks buy the precious metal, you would see gold prices moving gradually higher. This means that to a large extent this tends to have an impact on gold prices in Kolkata and the region. However, this may not be the only factor that influences gold rates as we have other factors like currency rates.

Duties and prices of gold in Kolkata

Duties and local tariffs have a big impact to play on the prices of gold in Kolkata today. In fact when tariffs and duties are raised by the government of India, the price tends to go higher and vice versa. In the past the government has raised the duties in order to curb excessive consumption of the precious metal. This is because when the consumption of the precious metal rises, it results in dollar outflow from the country. At such time the government is forced to act and place import duties on the price of the precious metal. This impacts gold prices in Kolkata like most other cities. However, this does not happen too often and these days the government has hardly tampered with the excise and other duties on gold in India. It is important to note that duties are something that the central government places and is not restricted to the state government. For example , if the government of India realizes that prices have fallen dramatically and consumption is likely to rise, it may curb consumption by way of taxes and other duties. This is a prerogative of the central government and not the state government.

Kolkata: Going with the options of gold

In Kolkata there are many options that you can use when you want to buy gold. However, you need to choose the best option. The option that we believe could be the best for gold lovers in the city is the exchange traded funds. It is sad that not many people have all the information with regards to this or have an inclination to buy the same. However, if you believe that you do not want to incur making and other charges, including costs to store them in an expensive locker for these Gold Exchange Traded Funds. Remember, that ETfs are pretty popular across the world, but, somehow they are not able to catch the fancy of the markets in India. Abroad they are very popular instruments and people invest in them heavily. In India, we stick to the more traditional instruments like gold coins and bars, which have now made a mark. However, there are some problems that are traditionally associated with these instruments, which do not make them the most attractive as such. Gold coins and bars attract taxes and the jewellery losses will be that you would not get back the making charges. In any case these are the charges that we incur when we buy gold in Kolkata.

Gold: A very convenient form of investment

If you have ever asked yourself, why gold is the easiest form of investment, you should go ahead and ask yourself that question. The one simple answer for that is: it is the easiest thing to buy and sell and is much better than other forms of investment like real estate, shares and even bank deposits. You just need to walk into the shop and encash the same. In the same way when you buy the metal, it is a simple process, whereby you simply pay the cash or the cheque and purchase the item that you wish. This is why many investors prefer buying and selling this metal, because of its convenience and ease. If you are looking to buy this metal, look no further. We suggest that you buy in small quantities and even through the popular gold ETFs. However, do remember that if you make large scale purchases you would need to produce your PAN card.

How to buy gold coins in Kolkata?

If you are not a big investor, who generally prefers to buy the large sized gold bars, you can buy gold coins in India which come in different shapes, sized and varieties. These include weights of one grams, two grams, four grams and up to ten grams. However, the one thing that we need to mention is that you should buy the smaller sizes of gold coins in Kolkata as it gives you better liquidity. You need to be careful and check for purity, before you venture into buying the same. Sometimes, it is highly possible that you could end-up getting coins that are not genuine. So, you need to do your ow research. As a strategy, you can also buy gold coins from banks, where you can be assured of genuine gold. Remember, that it is almost impossible that you would not get genuine gold coins from banks.

Why you should take a bill when buying gold in Kolkata?

It is extremely important that you take a bill before buying gold in Kolkata. Of course, if you take a bill, you would be subject to the taxes that are applicable. But, you must pay the requisite taxes even if it means inflating your bill. Of course, if you take a bill and the gold jewellery purchased is above Rs 50,000, you may also have to supply your PAN card number. Now, there are many advantages of taking a bill. The biggest of these is that when you want to exchange your gold. The goldsmith will ask for the receipt for sure. Let us assume that you want to melt your gold. If you want to sell your gold also, the buyer would ask for the receipt to ensure that he or she has made genuine purchases and the same is not stolen. So, in short always take receipt for the gold.

Will Gold prices in Kolkata gain in 2017?

There is a high possibility that gold prices may decline in 2017, as the US Federal Reserve hikes interest rates. This is because the United States is facing inflationary pressures like never before. When there is a threat of inflation, the chances of gold prices falling are very high. This is because rising inflation and gold rates can never move in the same direction. We believe that there could be a high possibility of gold prices falling in 2017. This is why we have always advocated a buy on decline strategy. This would serve as a perfect hedge against any rising prices of gold. If you are looking to buy the precious metal, the best way would be to buy the same on declines. Declining gold rates, provides an excellent hedge for buying, because it is always a good idea to have at least some exposure to gold to hedge in case other asset classes like gold are declining.

Where to buy gold in Kolkata?

You can buy gold at a number of places in Kolkata. There are a number of shops which you can approach to buy jewellery. These include J K Chandra, D K Basak etc.

However, you have to exercise due caustion and check for purity before buying. It is advisable to check gold rates in Kolkata, with a number of jewellers. Also make sure that you buy only hallmarked jewellery, in case you are planning to buy the same.

Hallmarked 916 karat gold rate in Kolkata

If you are looking to buy hallmarked 916 karat gold, Kolkata would be the best place to buy them. This is also because rates of 22 karats gold in Kolkata could be slightly cheaper than other cities, because, transportation costs would be lower, due to port facilities in the city to get imported gold. But, we need to explain first what 916 gold actcually means. It is nothing but, gold of 22 karats purity.  It actually means 91.6 grams of pure gold in 100 grams gold, which also includes a component of alloy. Gold being an extremely brittle metal, needs alloy to be mixed along with it, in the making of jewelery, so as to ensure that the jewelery does not snap. If you are looking to buy gold in Kolkata, it is best to buy hallmarked gold of 22 karats or 24 karats depending on your own preferences.

 Kolkata's liking for gold

The city of Kolkata has always had a liking for gold and other gold related precious ornaments. In fact, the city of Kolkata and bengal in general is becoming a very important centre for trade. We find lot of jewellery shops that were set up decades ago by many migrants from the West.

Today, gold in Kolkata comes in various designs and shapes and is a top draw. Gold rates in Kolkata more or less compare with many other cities in the country. Of course, there is always a difference in gold rates across India, has various local and other charges differ from place to place and region to region.

In any case rising prices of gold in Kolkata and India is not a deterrent for individuals, who love to buy and invest in gold. We suggest that at the moment gold prices in Kolkata are a little high and that you wait for gold prices to dip before buying the same.

Why gold jewellery is bad investment in Kolkata?

Investors make a mistake and a very big one, in saying that investment in gold jewellery would help the in time of a financial crisis. Yes, you can sell and get some money, but the amount that you would get by selling gold jewellery in Kolkata would be very less and is a waste. First, you lose money through wastage. Secondly, when there are some stones in your gold, we do not even know how they would be valued. It is a further loss straight away. Now, this is not the best liquid investment around. When you want to sell jewellery, there are numerous problems. For example, the jeweller would ask for a receipt and you may have to go got the jewellers that are wiling to take the same. So, overall it is a painful tedious process to get into. The best thing you should be doing is buying gold coins. Still better go for Gold ETFs, which we have explained earlier.

Examining gold rates in Kolkata in the last few decades

Consider this: In 1964 gold prices in Kolkata were just about Rs 63. Imagine, if you had to buy gold at those rates in the city about a few decades ago, your money would have multiplied many time over. By 1970, gold prices in Kolkata multiplied to a number of almost 184. That was not great returns in 10 years. However, the prices moved even further by 1980 to cross the Rs 1,000 mark and moved to Rs 1330. This was almost 5 times in 10 years and probably the best that one could get. By 1990, gold rates in Kolkata once again doubled to levels of Rs 3,200 and from there, we are Rs 27,000 per 10 grams on the precious metal. What this goes to show is that if you are a long term investor of gold in Kolkata, there is no way you can lose money. In fact, you can only make money and this has been proven time and time again.

Check where you are giving ornaments for melting

If you are melting gold in Kolkata, it is extremely important to know and study the best jeweller, in the city who would not waste your money. first of all, we advise that you do not waste your money. There are some jewellers who will give you the best rates for melted gold. A better option then melting would be to sell the gold to an outside company. There are many companies who buy gold, do a thorough purity check and give you the best rates for your gold. Almost every big city, including those in Kolkata have these companies. The scope of being cheated is relatively less here, because what happens is that you get your ornaments examined under the best of precision machines for karats and purity. So, what you could do is take the cash or the cheque and use the amount to buy new gold, instead of melting old jewellery.

A plethora of buying options

If you are looking to buy the precious metal, it is important to check the live 22 karats gold price in Kolkata today, along with the live 24 karats price. As far as buying into the metal is concerned you can look for myriad options. For example, you might want to consider a retailer, which is your goldsmith for buying small quantities. In case you are a jeweler yourself, then you need to visit the wholesale market where the precious metal is bought and sold. Today, there are many options, including that of buying online. However, you should be sure of the same. For example, you might want to check like gold rates at Tanishq before you wish to buy into the metal. Another problem that you might face with online shops is that you are not sure of the quality. So, the buyer has to be careful.

Why gold prices in Kolkata change everyday?

Gold prices in Kolkata change everyday, because of a number of reasons. The first and the foremost reason is that it depends in global factors, while demand is not of such great significance. The big factors are currency movement, mining that takes place and the overall economic and political factors. Greater the political risks, higher the amount that gold could rally. On the other hand even local factors play a great role in determining how gold rates in Kolkata would move. One cannot really predict, which direction gold would move. So, even if you are trying the same we suggest that do not do it. In fact, you can buy in small quantities if you wish to make purchases for the precious metal. Predicting gold prices is always hazardous and no investor has made money trying to time the market.

Selling gold in Kolkata

We have all along spoken of buying gold in Kolkata. Do you know where you can sell gold in Kolkata. There are many places like Adyama Gold, where you can sell the precious metal. Before selling you have to make sure that you are not fooled on the rates. So, check live gold rates in Kolkata at goodreturns.in before you decide on selling gold. Some of these companies claim to offer you the highest gold rates in Kolkata, but, you need to be aware. Most of these companies also test your gold free of charge and do not melt the same. So, at least you are assured that the quality remains intact. Also, normally the gold buying company conducts the test in front of your eyes, so there is some certainty on that country.

How much is a kilogram of gold worth?

Gold can be measured in various quantities. For example, in the international markets, you always have gold measured in troy ounce. In India, you would always have gold that is quoted as per 1 gram, 8 grams or also as 10 grams. You can quote 1 kilogram of gold, but, because its value is so high, nobody generally quotes in kilograms. For example, one KG or kilogram of gold could easily be Rs 28 lakhs plus or almost Rs 2.8 million. Gold in India is therefore always quoted in grams and is quoted for 22 karats or 24 karats gold. The price defers based on the purity of the metal, though it is easy to quote in grams or kilograms. Jewelers tend to display the value of the gold as "today's gold rate in Kolkata" or in the city as the case maybe. Always check the prices, which would be in one gram.

List of top gold producers in the world

If you have been studying about gold, your obvious answer to the question: who is the top gold producer in the world, would be South Africa. However, that is no longer true. Among the top countries producing gold, China ranks as number one. This country is a leader by far and according to some recent available data, it mines almost one third more of the precious metal, then its closest competitor Australia. Russia, United States and Canada, follow China and Australia as among the top 5 producers of gold in the world. Interestingly, a smal Latin American country, follows next in the line.  However, it is worth mentioning that way back in the 70s, the production of South Africa was so high, that no country has been able to surpass that record as yet.

Is gold a dead investment?

Many analysts believe that gold is a dead investment, because it fails to yield any returns like say dividends that shares give and interest income that fixed deposits give. However, the fact remains that investors still lean towards the precious metal, simply because when the chips are down, it has provided an excellent hedge. We all recall what happened during the Lehman Brothers crisis and how shares came crashing down. It was at this time that gold prices rallied and served as a perfect hedge. If you think that you can stay away without some exposure to gold, you are making a mistake. Gold must be a part of your portfolio. Gold is not a dead investment and it perfectly a vibrant one. Look to buy into the metal whenever you have the money.

Understanding impurities in Gold

Gold in the purest form is also called 24 karats gold, which is used in making of gold coins and bars. On the other hand gold of 22 karats is what we called, not the very pure gold, because of the various metals that are mixed with the precious metal. In fact, a host of metals, including bronze could be mixed with the precious metal, which is one reason why gold for 22 karats has always being traded lower then gold for 24 karats. If you are looking to buy pure gold in Kolkata, then it has to be 24 karats gold. In fact, we get various other forms of gold including that which is less than 22 karats and that is the 18 karats gold. In many countries abroad, you also get gold that is as low as 18 karats gold. However, the lesser the purity, lower would be the rate that you get for the precious metal. If you are looking to hence buy the metal, it would be a good idea to buy into the precious metal on declines. Also, remember that the making charges do not become less, just because you are using gold that is of lesser purity.

Where and how to buy gold coins in Kolkata?

Gold coins is the most sought after investment in gold for a number of reasons. The one big reason is that you get more money when you sell as compared to gold jewellery. The other aspect is that any jeweller could buy a gold coin from you, but, this is not true in the case of jewellery. For example, every precious ornament maker may not buy the precious metal from you, except the one who has sold you the same. And, that too you would need to produce a receipt. In any case gold coins are available in many wights including 1 grams, 4 grams, 10 grams, 5 grams and so on. You may also get imported gold coins from the various banks in the country. However, make sure that you check for the quality and purity before you buy into them. Some sell gold coins that have tamper proof cases and these you could probably get at some of the banks in the country.

Major jewelers in the city of Kolkata

Kolkata has always had a rich history of gold trade. In fact, the city is known for excellent craftsmanship, design and patterns in gold and gold jewellery. If you are looking to buy gold there are many large and small shops in the city, where you could get a great deal. Among these include the noted Reliance Jewels chain, which is there in selected places. Apart from this, we also have the Tribhovandar Bhimji Zaveri and Senco gold. Many individuals tend to stick to their own family jeweler that is fast changing, following the emergence of many renowned names. The reason is that they are at least ensured on some quality and purity. The only other way would be to buy hallmarked gold, which is not readily available at all the smaller cities and towns in and around the city of Kolkata. So, go for the bigger names or places where you are confident that there would be some amount of quality that you would receive.

Kolkata and its love for gold

Residents of Kolkata always have a desire to wear the best possible ornaments and gold articles. The love for gold by people of Kolkata is well known. Hence, if you are looking to invest in Kolkata the best time would be now. This is because nobody in the city or elsewhere in the country can predict how gold prices would move in the coming years. So, as we say, whenever you get the metal cheap it would be the right time to buy into the precious metal. For example, if you believe that at Rs 27,000 gold is available at a good rate, go ahead and buy the precious metal. On the other hand, if you feel that at Rs 29,000, there would be very little to gain by way of profits, go ahead and just stay away from the metal. You can never time the market and that is a fact. So, what is a good time to buy and sell the precious metal is never easy to know.

Why gold is a preferred investment?

There are many reasons why investors and consumers like to buy gold. The first is that the metal never oxidizes. So, what this means is that the precious metal would never rust. Since gold is a store of value, it is also preferred on this count. There are plenty of other reasons, why investors chase gold including the metal being a perfect hedge against inflation and also as succour during times of crisis. In fact, if you are looking to buy into the precious metal, now would be the best time, as prices of the metal have dipped a great deal.  However, you need to check the purity and other things, before you buy into gold. We have highlighted all the other aspects of gold investment and taxes on them below.

Various options to buy gold in Kolkata

Remember, that the only way to buy gold is not jewellery and gold bars and coins. In fact, you can buy gold in Kolkata in a variety of ways including gold ETFS. Now for some of you this maybe new. But, those living in Kolkata should also look at buying  gold through the ETF way. This has no storage costs as the gold is held in the electronic form.

Also, more interestingly, they track the prices of physical gold. Always remember, before buying gold to check gold rates in Kolkata, as there can always be a big price differential.

Moving Down

In 2016, while gold prices in Kolkata have helped investors make good money. The same cannot be said of demand. In fact, Kolkata and India have seen a drop in the demand for the precious metal. As prices increase there is bound to be a drop in people buying into the precious metal. This is one reason why consumers have stayed away in 2016. Demand for gold in India, which was placed at 858 tonnes last year may end at 757 tonnes, according to date trends. This means that prices are also rapidly on the decline for some major consuming cities. There are some worries of smuggling also coming to the fore, which has resulted in less buying. The government's frequent intervention through levies and duties has also not been ver helpful in maintaining and sustaining prices. Whether gold rates in Kolkata will recover in 2017 and beyond is difficult to say.

 Difference 22 karats and 24 karats gold

Before buying gold in Kolkata, you have to figure out, if you are looking to buy the 22 karats or the 24 karats gold. If you are looking to buy 24 karats gold, remember it is the purest form of gold. In fact, with 99.9 per cent purity, it does not get better than this. However, you cannot buy 24 karats gold jewelery. You can buy only 22 karats gold jewelery. This is because gold is very brittle and if you try to make jewelery with 24 karats gold, the chances are bright that it could snap. This is why for the purpose of gold jewelery, 22 karats gold is preferred. On the other hand if you want to buy gold coins and gold bars, then the natural way to go about it would be through 24 karats. There is ofcourse a price differential in gold rates of 22 karats and 24 karats in Kolkata. These days, you have even medical devices being made of 24 karats gold.

Gold is never destroyed; So why prices do not decline?

Have you ever wondered why gold prices never fall, even when we know that it is never destroyed. What are we talking about
here? Well if you consume coffee, it is consumed and you need to generate fresh amounts. That does not happen in the case of gold and still we do not see its value diminished. In short, it is never destroyed. So, one would think that gold prices should
fall given the fact that we have more and more of it coming in supply with the old still being around. However, in some
places gold is consumed like in the electronics industry. However, the demand here is not too large to really call it consumption. Despite this we have gold prices in Kolkata today that never fall.
The biggest demand comes from gold jewelry, which is often melted to make new ones. So, the precious metal continues
to be in circulation.

 Demand for Gold in Kolkata

Demand for gold in Kolkata has always been steadily rising. In fact, the country as a whole has bee witnessing a steady trend. In fact, the demand for gold was almost half in May 2016, as compared to the previous year in the country. In Kolkata, demand for gold increases, during the festive season and gradually tapers off towards the end of the year.

However, we must admit that demand for gold would only rise, if prices dip. At the moment, we are seeing the highest prices rate for gold in 2016. When gold prices fall, in all probability demand would rise. When that would happen is difficult to say.

The other problem of demand for the precious metal has been the government initiatives. For example, the government does not want gold consumption to rise. The simple reason for the same is that as demand rises, it would put pressure on the Indian rupee. This is because we import gold, which has to be paid in dollars. This leads to an exit of precious foreign exchange reserves as we have to pay for them in dollar terms. This is why the government of India luanched the bond scheme, to discouarge consumption of gold. Internationally, demand has become flat. Central governments across the globe, which had been chasing the precious metal, are now seeing a dip in their own reserves. Gold ETFs have also seen some redemption pressures, which has pushed the price of the precious metal lower.

Gold Futures as an option to buy gold

If you want to buy a lot of gold with lesser amounts, the best way would be to look at gold futures. In these markets you pay a smaller amount and you get higher quantities. For example, you need to pay a very small margin of around 5 per cent for taking an exposure in gold. However, it is important to note that you need to settle the contract before the expiry date. For example, if you buy gold petal of Feb expiry, you need to settle the contract before the expiry in February. Buying gold futures in Kolkata is also advantageous because you get exposure to live gold rates in Kolkata. You do not get live gold rates in the spot market, as gold rates change only twice a day. The one big disadvantage of buying on this method is that you only own gold temporarily and have to square your positions. This is very different from the spot market, where you sell and take complete delivery of the product.

What are the taxes you pay when selling Gold In India?

For those who are not aware, you need to pay tax when you buy and sell gold in India. Let us say that you purchased gold in Kolkata at a price of Rs 10 lakhs a few years ago. Today, if that value has crossed more than Rs 30 lakhs, there is a wealth tax that you have to pay every year. Remember, it does not matter, how, why and when?

If the value of gold exceeds Rs 30 lakhs, you have to pay wealth tax. On the other hand there is also a capital gains tax that is applicable if you sell gold at a profit. There are two types of taxes that are applicable. One is the short term capital gains tax, where you will have to pay as per your tax slab. The other is a long term capital gains tax on gold, which is at 20 per cent, plus indexation. Long term is defined as more than 3 years and short term id defined as less than three years.

There is also a capital gains tax that is applicable on Gold ETFs as well. The tax rate is the same as physical gold. Remember wealth tax on gold, as many individuals may not know when their gold value crossed Rs 30 lakhs. If you have gold value that is less that that you are exempted from the said tax.

High gold reserves in India?

There is little doubt that Indians love to accumulate gold. But, while individuals may have staggering levels of gold, do you also now that India has the 11th highest gold reserves in the world. We are not talking of indidividauls, but the nation. The highest gold reserves is held by the United States. India has around 555 metric tonnes of gold, which is a pretty decent ssize to have. Germany has the second highest gold reserves. India, will continue to accumulate gold to bolster its own reserves, as it helps to diversify the nation's assets. Apart from this it provides a big relief during times of crisis, as it can be used as a matter of refuge. In fact, the country and individuals should buy gold, not in large quantities so as to ensure that we have adeuquate holdings. The best time to accumulate gold would be during times of declines and at the moment we are see gold prices today in Kolkata dropping.

Factors affecting gold prices in Kolkata

There are many factors that affect gold prices in India. Among these are the currency movement in India. Let us give an example. India as is well known is an importer of gold. So, if the rupee drops against the dollar, gold prices in Kolkata become more expensive. For example, if the rupee moves from 66 to the dollar to 67, the price of of gold becomes dearer.  On the other hand, if the rupee gains against the dollar gold becomes cheaper.

There are various other factors that affect gold prices and the biggest is international price movement of gold. When international prices of gold go up, gold rates in Kolkata move higher. International prices of gold depend on a host of things including the doollar movement against currencies. When the dollar rises, gold prices fall and vice versa. On the other hand another key factor in gold rates movement is interest rates. When interest rates rise, gold rates move down and vice versa.

In fact, there are now reports that the US Federal Reserve would hike interest rates. If that happens, we can expect gold prices in Kolkata to fall.

Gold or Gold ETF In Kolkata

Many individuals advocate buying gold ETFs in case you want to invest in gold. Of course, if you want to use gold for personal consumption, there is no way you are going to buy gold ETFs. In case you are buying either, do not forget to check gold rates in Kolkata.

If you want to make money through gold investments in Kolkata, you need to track gold prices. In fact, since the start of the year, the city has seen gold prices rally, as much as 30 per cent.

Hence, it may not be prudent to buy gold at such high rates. It is better to wait, till we see some meaningful dip.

Again, if you would like to invest we suggest that you take a look at Gold ETFs in place of gold, because of their numerous advantages. Among the advantages include easy liquidity and ease in selling the same.

Check purity before buying gold in Kolkata

It is always better to buy hallmarked gold. Look for the hallmarking logo, which will ensure that the gold you buy is pure. There is also the year of marking, which will play an important role, when buying gold in Kolkata.

999 - 24 carat - Pure Gold is considered to be the purest for of gold. On the other hand the 22 karat would come with 916 karat purity.

It is important that you check for the purity of gold, as few years down the line, you may realize when you want to sell the gold that it was not pure.

Do not forget to take the receipt for the gold that you purchase, since it would be easier for you to sell the gold, a few years down the line.

Talk to the hallmarking centre, if you have any doubts and do clarify other details with your goldsmith. It is always better to go for a reputed goldsmith that have been trusted for generations.

 How are gold prices in Kolkata determined?

Gold prices in Kolkata largely depend on two factors: One is the international prices of gold and the second is the currency movement. So, if the rupee falls against the UD dollar, gold prices in Kolkata become more expensive. On the other hand, if international prices of gold go up, gold rates in Kolkata would move-up accordingly.

It is hence very important to keep an eye on gold rates in the international market, to determine the trend in the domestic markets.

Also, keep an eye on the rates at the MCX, where gold is traded in the futures market. That would give you a good indication on the gold trend in the city of Kolkata.

All in all, always remember to check prices, before buying gold. If prices have risen too fast, just wait before the prices to fall and then buy. A better mechanism would be to average the prices of gold, by buying at regular intervals. This would average out the cost of gold.

Gold history of Kolkata

Kolkata and the entire state of west Bengal has had a fascination for gold since the very ancient times. The city also boasted some of the finest artisans in the country, who did splendid work on gold and jewelery.

The city boasted some of the excellent works on gold jewelry. However, over the years more odern techniques have paved te way in design of precious gold ornaments.

There are many renowned and old jewellery shops in the city, including the likes of Sawansuka Jewellers, Syndicate Jewellers, Anjali Jewellers and also J K Chandra. A lot of renowned chains like Tanishq are also available.

However, do buy gold in Kolkata, only when prices decline.

 Global gold demand on an upswing

Global gold demand has been on an upswing as the quarter ending June 30, 2016, has seen gold rising by almost 15 per cent in terms of demand. Gold prices in dollar terms has not had it this good, as the gains in the precious metal has been almost 25 per cent.

This is an extremely good trend, given the fact that there has been ample liquidity in the global financial system. This has not only propelled gold demand higher, but, has also pushed gold prices higher.

Why to buy gold in Kolkata?

You do not buy gold, because it tends to give you superlative returns. You buy gold because, it helps you in times of crisis. This is not exactly your own monetary crisis, but, a global financial crisis. Let us give you an example. Say you have parked all your money in risky instruments or even in real estate. When there erupts geo-political tensions or economic crisis, the first thing that will rally is gold. That is why part of your investments, must be in gold. This is what we call a perfect hedge against times of crisis. However, it is not appropriate to invest in phiscal gold only, but, also in other gold investments.

We suggest that if you are investing a large sum in gold, it is always a good idea to take advise. This is because gold price movement depends on a host of things like how far the currency, especially the dollar moves against a basket of currencies, including the Indian rupee. Gold prices tend to become dearer, when the rupee moves higher against the dollar. On the other hand it becomes more expensive, if the dollar gains against the rupee.

Gold rates in Kolkata in the last 9 years

Gold prices in Kolkata have given pretty decent returns in the last one year. However, if we see the returns of the last 9 years or almost a decade, we realize that gold rates have not done too well. In fact, in December 2009, gold rates were placed at Rs 16,400 per 10 grams for 24 karats. Since then, the precious metal has seen a rally and the price of gold has moved higher to Rs 30,000.

We call this very average returns, given that you could have easily doubled your money in other fixed instruments. So, gold has not really given the best returns in the last one decade or so, though in the more short term, like one year, we have seen a near 25 per cent returns.

At the current market price, gold maybe a little over priced.

How to know if the gold you are buying is real?

The best and the easiest way to look for purity of gold is to look for markings. Most jewelery firms in the country sell hallmarked jewelery. There will be various marks on the gold you are buying, including the purity etc. Also, make sure that you are buying gold from a reputed jeweler.  In case you are buying for investment, please do not buy gold jewelery. It is advisable to go for gold coins, as they will fetch better value. However, as we discussed before, the best option would be to invest in golf ETFs. The most important thing to remember is that you should check the gold prices in Kolkata before you invest in the same. If you find that gold rates have rallied only recently, you should avoid investing. It is a good idea to buy gold when prices are falling.

Gold outlook for 2017 in Kolkata

We believe that gold prices in India would be steady and in fact there is a possibility that gold prices in Kolkata could drop next year. Our belief is based on the fact that interest rates in the US are likely to go higher in the next few weeks. When this happens it could lead to a fall in the prices of gold, as investors will buy bonds which offer them a better yield. So, if you are rushing to buy gold, we suggest that you wait for prices to dip. Gold at the current market price of Rs 30,000 per 10 grams sis not at all attractive. There is a high possibility that gold prices in Kolkata in 2017, could dip beloe thw Rs 28,000 mark. At that tie, it would be a good opportunity to buy into gold in Kolkata. Till then one can wait patiently and reap rewards of the existing price hike.

Risk of a fall in gold prices

Recently, we have been seeing a drop in gold prices. The reasons for such a drop are not far too seek. Rising interest rates are the biggest worry. In India, it has been the year of gold, which has yielded something like close to 22 per cent returns in the last few years. This is excellent considering that other asset classes have not given any returns to investors. However, going forward we do not expect gold to generate any superior returns in the next few years. This is because there is a high possibility that whenver gold has generated good returns in one year, the returns have reversed immediately the next year. Hence, if you are looking to buy gold in 2017, we suggest that you hold onto it for sometime and buy the precious metal on declines. This is the best way you can generate returns from the precious metal.

Why investors should be chasing gold in Kolkata?

There are many reasons why you should be buying gold in Kolkata. One of the most important of these is that the precious metal has proven to be a perfect hedge against inflation. In fact, since 2008 gold prices in Kolkata have tripled in value, while inflation has not maintained the same momentum. Also, there is an increased demand for gold and gold ornaments, while genuine supply constraints for gold has pushed prices higher. In fact, despite all measures to deter investors from buying gold, many individuals continue to chase gold. This has led to some shortfall, which has clearly pushed gold prices in Kolkata and India higher.  At the moment, we are not seeing political tensions. But, when that does happen, you could see gold prices dip, which is when you would realize that the value of your gold has really gone higher. In any case, do not invest all your money in gold, but, just a part of it.

 Geo-political tensions and gold prices

This is one of the biggest factors for gold price movement. Apart from economic chaos, which tends to influence gold prices, another factors is geo-politcal tensions. A classic example is the Italian referendum that is happening, which has left gold prices extremely volatile. Acts of agression by one country on another or terrorists attacks tend to influence in the price of gold positively. On the other hand, there are financial factors as well. Take for example, a firm dollar against a basket of currencies. A rising dollar, means gold rates would fall and vice versa. on the other hand, a falling dollar means gold would rise. These are the common factors along with geo-political tensions that tend to affect gold prices in India. However, when any of these things happen it would be a good time that your gold investment yields results.

Are gold prices headed higher in Kolkata in 2017?

It is always so very difficult to predict the movement of gold prices and anybody trying to do so, is playing clever. But, we can always highlight the fundamentals of gold prices and prove, if they can be headed higher or lower. But, there is no guarantee that fundamentals always come to play, when it concerns gold or stock prices. For example, we do believe that at Rs 27,000 per 10 grams from levels of Rs 30,000 per 10 grams a few weeks ago, gold prices should move higher. We also believe that the strength in the US dollar at some stage would be over and that is when gold rates across the globe could climb and also in Kolkata. So, it is highly possible that at some stage this year, gold would definitely yield good profits and that is the time to grab the precious metal and buy.

Gold and duties in Kolkata

Gold prices are subject to various taxes and duties in India. Of course, this is also applicable when you buy and sell gold in Kolkata For example, there is a capital gains tax when you sell gold at a profit. On the other hand, there is also wealth tax that is payable. It is also important to remember that there are various duties that are applicable on the precious metal. When the government realizes that it needs to curb gold imports, there is a import duty that becomes payable on the precious metal. The government of India has done this from time to time, which has resulted in prices of gold fluctuating in Kolkata. So, you have to also carefully note the changes in
the precious metal from time to time.

Gold and the hedge against inflation

Gold has always remained a perfect hedge against inflation. In fact, if you want to be a long term investor in gold, be rest assured that the precious metal would deliver returns over a period of time. This is why it is known as a perfect hedge against inflation. In fact, gold interest rates and inflation are all pretty much related. For example, when inflation goes higher, interest rates rise and when interest rates rise, gold prices tend to fall. This in short, is the relation between gold, interest rates and inflation. One may recall that in the 1960s gold was trading at just Rs 60. It has given a several fold rise since then. This is how gold has always been beneficial during a time of crisis. In fact, investors tend to sell the precious metal when they have an eventuality.

 

Latest Updates on Kolkata Gold Rates

Gold in Kolkata in an overbought position

Gold prices in Kolkata have been in an overbought position and have rallied in the last few weeks, tracking the rally in gold prices. However, investors believe that there would be some fall in the prices of gold in the international markets and this may see some selling pressure in the Indian markets as well. Kolkata gold prices today have surged passed the Rs 28,300 mark, and we may see some selling pressure when prices reach such high levels. Gold for all the varieties have seen good sharp rise. Some technical levels will have to be examined before you look to buy. The 30 days and 100 days moving averages for gold rates in Kolkata have been higher, indicating that those who are looking to buy would be doing so at very elevated levels. The best thing would be to stay away from the precious metal and look to buy when prices fall. When prices would fall and how they would fall is a question that one cannot answer now. Kolkata has always seen a good demand for gold and that trend is unlikely to change in the next few months. So, if you are losing your patience on gold waiting for prices to decline there is nothing that can be done. You need to wait for some more time and than buy.

 

20 February 2017
Kolkata gold rates may decline

Gold prices in Kolkata may decline in trade on Feb 9, as investors turn their attention to shares and stocks, which are attracting a huge fancy. Gold for 22 karats was last seen trading at Rs 28,300 per 10 grams and may open marginally lower than that in trade on account of global cues which were not lending support to the market. For example, gold in the international markets per ounce fell to levels of $1243 an ounce in the international markets, which was marginally lower. In fact, rates have gone up from levels of $1180 a few weeks ago for an ounce to $1245 an ounce. This also led to a rise in gold rates in Kolkata, which are now very much near a 3-month peak. So, how far will rates go? This is a question that is likely to remain unanswered in the many years to come. Neither analysts nor those associated with gold have ever been able to predict with accuracy what could happen to gold prices. At best you can give a rough indication. If you ask us, we would simply say that your simple strategy would be to buy gold on declines and sell the same on every rally. Beyond that it would be foolhardy to try and predict the trend of the metal. Do factor in various other things like exchange rate fluctuations and international prices of gold, which always tend to be volatile. Otherwise a firm trend is likely to prevail.


9 February 2017
Kolkata: Gold rates to open flat

Gold rates in Kolkata today are slated to open flat, as international prices over the weekend have been pretty much subdued. Gold for 22 karats and 24 karats in Kolkata have always been gaining ground since the start of the year. Prices which ended the year 2016, at Rs 27,100 have now gone well above the Rs 28,0000 mark. This has led to gains of a good 5 per cent in the last few weeks. It is likely that we will see rates even higher in the days to come. There has been no influence of the Union Budget this time on gold prices in Kokata. In fact, unlike the last year when the government tinkered with the gold rates, this time there was nothing for the common man as far as gold is concerned. This has led to prices being in a more or less tight range in the last few sessions. However, from the start of the year, we have seen a pretty decent appreciation in the prices of gold in Kolkata. If you are a long-term investor it is best to adopt a strategy of buying on declines in the precious metal. You can even go for the purchases of 18 karats gold, which is always in good demand.

6 February 2017
Kolkata gold rates set to go higher today

Gold rates in Kolkata today are set to move higher. There are a number of factors that will influence gold rates in Kolkata on Feb 3, 2017. One is of course the fact that the Union Budget 2017-18 has been very charitable to gold rates. We are not seeing too much of movement in the last few days, but, there is some buying interest that has emerged in Kolkata gold prices at a lower rate. In the past few years the current account deficit has been a headache for the government. For example, when the current account deficit rose, because of large scale gold imports, the government was quick impose a hike in import duty of gold. Today, imports of gold are very much under control and the government has not considered any harsh measures in the Union Budget of 2017-18 for gold. This has led to some recovery in gold prices. We believe that gold prices could even head higher in the next few quarters. Gold in the international market once again surged past the $1200 an ounce mark, as investors worried over the fate of the policies in the US. This may lead to fresh volatility in gold prices, which have already seen higher levels since the start of the year.

3 February 2017
Kolkata gold prices to be marginally lower

Gold prices in Kolkata are expected to be lower, give the low rates seen in the international markets. Investors were weary of taking positions to see if the Union Budget may have fresh measures to curb gold consumption. However, fresh measures may result in some renewed selling in the precious metal. How low prices would go is difficult to say, but, in all probability we could see some selling pressure on every rise in the precious metal. Gold has seen a good run in Kolkata in the past few weeks and this has largely to do with the immense volatility that we have been seeing in the precious metal, not only in Kolkata or India, but throughout the globe. So, if you are looking to buy into the precious metal, you are likely to get opportunities at lower level in Kolkata. What is most important to remember is that you can make profits only if you buy low and sell high. In other words, if you get to buy gold at around the Rs 27,000 mark it would be a good opportunity to buy and then sell at higher rates. However, it may take time for gold prices to reach those levels, so you may need some patience after all.


29 January 2017
Gold rates in Kolkata to drop

Gold rate in Kolkata are all set to drop as investors sold it after a good drop in the US dollar. Kolkata gold rates have been constantly on the decline in the month of December, but have shown remarkable recovery in the month of Jan. The trend is likely to continue as investors look to buying the precious metal. Gold has been a little volatile since Donald trump tookover as the President of the United States. Both gold for 22 karats and 24 karats has seen a sharp upmove in January, after worries over the policies of newly elected US President added to some volatility. Any drop in international gold leads to a corresponding drop in gold prices in Kolkata. So, in short Kolkata is largely influenced by the developments that take place in the international markets. One thing that you need to watch out for when checking for gold prices is the movement of the rupee against the US dollar. The rupee has been on a constant decline in the last few weeks and this has made prices of gold a little bit more expensive in the city of Kolkata. So, you may need to watch before you buy into gold.


25 January 2017
Gold rates Kolkata to maintain an uptrend

Gold rates in Kolkata are likely to maintain an uptrend as the dollar yielded ground against a basket of currencies. Gold for 22 and 24 karats both were higher, as investors were busy weighing the first few days of Donald Trump as the US President. Any large scale volatility in policy decisions could leave the precious metal rallying. This is not good for prices of the precious metal, as intense volatility means investors would stay away from the precious metal. Both 22 and 24 karats gold were seeing an increased demand in Kolkata. However, prices have also firmed in line with the lower demand. It maybe recalled that in the last quarter of 2016 gold demand had fallen across the world, including India. What this means is that there could also have been some decline in the precious metal demand in Kolkata. A decline in demand is likely to lead to a fall in the precious metal price. Over the last few years, investors have used the opportunity of a systematic decline to buy into the precious metal. This is because in the more longer term this has always given good returns. So, if you are looking to buy a good idea would be to buy on declines.

24 January 2017
Gold prices in Mumbai rally

It has been good going for prices of gold in Mumbai in 2017, as January have seen a good rally in the precious metal. Gold has been seeing sustained gains as investors buy into the precious metal on declines. The last few months have been volatile for the precious metal, which has been plagued with uncertainty. First there was the election of US President Donald Trump, which saw gold prices dropping sharply, which was followed by the sharp gains in the US dollar, which further added to the gains in the precious metal. So after bouts of volatility on both sides we have seen significant gains in the precious metal, which would once again lead to good gains for it. Analysts say there are good opportunities to buy gold when prices fall, so as to enable you make some money in the metal. However, for that you have to wait for opportunities that comeby sometimes after a very long time. If you are planning to buy also look at 24 karats gold in Mumbai in the coin form. This is because some of the banks that offer you these coins offer yo them of the highest purity. This is the ideal way that you should be buying gold.

24 January 2017
Kolkata set to see higher gold rates

Gold rates in Kolkata on January 23, 2017 is likely to witness higher openings given the strong trend that is being seen in gold futures across the world. The gains are likely to be seen after gold futures pointed to a higher opening, in the US. There has been some weakness in the US dollar, which could also support gold prices at lower levels. With the wedding season still going on, we could see some buying that could emerge at lower levels. There are also reports that there has been an increasing demand from gold exchange traded funds. It is important to remember that if you are buying for the log term, to stay invested in the precious metal. If you are keen to invest in gold in Kolkata the range of Rs 27,000 should be a good bet. If you buy at higher levels, the chances of making profits from investment in the metal would be very minimal.

22 January 2017
Gold prices stay higher

Gold prices in the city of Kolkata were trading higher as investors bought into the precious metal on declines. Gold for 22 karats was trading higher, while gold for 24 karats also saw some good buying support. The precious metal now has made a steady recovery rising gradually in the last few days. The support was largely after worries over the likely policies of new US President Donald Trump, who is to be sworn in as US President later on Jan 20. this lifted gold prices higher in trade on Jan 20.

20 January 2017

Disclaimer: The gold rates are sourced from local jewellers in the city. There maybe variance in rates and prices. GoodReturns.in has made every effort to ensure accuracy of information provided; however, Greynium Information Technologies Pvt Ltd, its subsidiaries and associates do not guarantee such accuracy. The rates are for informational purposes only. It is not a solicitation to buy, sell in precious gold. Greynium Information Technologies Pvt Ltd, its subsidiaries, associates do not accept culpability for losses and/or damages arising based on gold information provided.