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.
|Gram||22 Carat Gold
|22 Carat Gold
|Daily Price Change|
|1 gram||₹ 4,685||₹ 4,685||₹ 0|
|8 gram||₹ 37,480||₹ 37,480||₹ 0|
|10 gram||₹ 46,850||₹ 46,850||₹ 0|
|100 gram||₹ 4,68,500||₹ 4,68,500||₹ 0|
|Gram||24 Carat Gold
|24 Carat Gold
|Daily Price Change|
|1 gram||₹ 4,955||₹ 4,955||₹ 0|
|8 gram||₹ 39,640||₹ 39,640||₹ 0|
|10 gram||₹ 49,550||₹ 49,550||₹ 0|
|100 gram||₹ 4,95,500||₹ 4,95,500||₹ 0|
* The above gold rates are indicative and do not include GST, TCS and other levies. For the exact rates contact your local jeweller.
|Date||22 Carat||24 Carat|
|Dec 4, 2021||₹ 46,850 0||₹ 49,550 0|
|Dec 3, 2021||₹ 46,850 -50||₹ 49,550 -50|
|Dec 2, 2021||₹ 46,900 -50||₹ 49,600 -50|
|Dec 1, 2021||₹ 46,950 -350||₹ 49,650 -350|
|Nov 30, 2021||₹ 47,300 100||₹ 50,000 100|
|Nov 29, 2021||₹ 47,200 210||₹ 49,900 210|
|Nov 28, 2021||₹ 46,990 -10||₹ 49,690 -10|
|Nov 27, 2021||₹ 47,000 -200||₹ 49,700 -200|
|Nov 26, 2021||₹ 47,200 100||₹ 49,900 100|
|Nov 25, 2021||₹ 47,100 0||₹ 49,800 0|
|Gold Rates||22 Carat||24 Carat|
|1 st November rate||Rs.47,150||Rs.49,850|
|30th November rate||Rs.47,300||Rs.50,000|
|Highest rate in November||Rs.48,750 on November 16||Rs.51,450 on November 16|
|Lowest rate in November||Rs.46,550 on November 1||Rs.49,250 on November 1|
|Over all performance||Rising||Rising|
|Gold Rates||22 Carat||24 Carat|
|1 st October rate||Rs.45,850||Rs.48,550|
|31st October rate||Rs.47,150||Rs.49,850|
|Highest rate in October||Rs.47,400 on October 25||Rs.50,100 on October 25|
|Lowest rate in October||Rs.45,850 on October 1||Rs.48,550 on October 1|
|Over all performance||Rising||Rising|
|Gold Rates||22 Carat||24 Carat|
|1 st September rate||Rs.46,800||Rs.49,500|
|30th September rate||Rs.45,550||Rs.48,250|
|Highest rate in September||Rs.47,010 on September 5||Rs.49,710 on September 5|
|Lowest rate in September||Rs.45,550 on September 20||Rs.48,250 on September 20|
|Over all performance||Falling||Falling|
|Gold Rates||22 Carat||24 Carat|
|1 st August rate||Rs.47,550||Rs.50,250|
|31st August rate||Rs.46,800||Rs.49,500|
|Highest rate in August||Rs.47,550 on August 1||Rs.50,250 on August 1|
|Lowest rate in August||Rs.45,700 on August 6||Rs.47,700 on August 6|
|Over all performance||Falling||Falling|
|Gold Rates||22 Carat||24 Carat|
|1 st July rate||Rs.46,340||Rs.49,050|
|31st July rate||Rs.47,550||Rs.50,250|
|Highest rate in July||Rs.47,700 on July 15||Rs.50,400 on July 15|
|Lowest rate in July||Rs.46,340 on July 1||Rs.49,050 on July 1|
|Over all performance||Rising||Rising|
|Gold Rates||22 Carat||24 Carat|
|1 st June rate||Rs.48,490||Rs.50,970|
|30th June rate||Rs.46,100||Rs.48,800|
|Highest rate in June||Rs.48,560 on June 3||Rs.51,450 on June 3|
|Lowest rate in June||Rs.46,100 on June 30||Rs.48,800 on June 30|
|Over all performance||Falling||Falling|
|Gold Rates||22 Carat||24 Carat|
|1 st May rate||Rs.46,110||Rs.48,810|
|31st May rate||Rs.48,280||Rs.50,860|
|Highest rate in May||Rs.48,380 on May 27||Rs.50,960 on May 27|
|Lowest rate in May||Rs.45,800 on May 1||Rs.48,810 on May 1|
|Over all performance||Rising||Rising|
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.
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. The loan to value ratio for gold really depends on the policies which are governed by the Reserve Bank of India. They do tend to alter and change these ratios from time to time.
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. In case you do not buy on declines there is a possibility of losing a buying opportunity. So, be very price conscious before you buy gold in Kolkata.
Generally speaking gold prices change twice a day in the city of Kolkata. However, it is extremely difficult to say when prices change. Now, let us cite an example. By the time the prices are disseminated to the jewellers it would take time to reflect and some would have changed the gold rates, while others would have not.
What if there is a customer who has just been checking the gold at a certain price, only to suddenly realize that the prices of gold have changed. Would he renegotiate the prices all over again. This is highly possible though the jeweller might give him the original price at which he saw and decided to buy the gold. In any case, as we mentioned earlier, gold prices in the city of Kolkata do not change at a particular time. In fact, sometimes there is no movement in the precious metal and hence the prices are almost flat or little changed. So, buy when you are comfortable with prices.
Recently, paytm has partnered with gold refiner MMTC-PAMP to launch ‘Digital Gold’ offer. Using this offer customers to buy and sell gold with few clicks through the paytm application. This option is called as Gold Accumulation Plan.
By using this plan Paytm Customers can now buy gold using their paytm wallets and store it in MMTC—PAMP’s secure vaults. The best thing about this is there is no charge for doing so. If you are interested in investing in gold now, you don't need to open De-mat account. All you need to do is install a paytm application on your smart phone. Then you can buy 24 karats gold on you paytm wallet.
Currently one can buy gold in Paytm wallet ranging from Rs 1 to as much as they want to invest. One of the key features for investing money in the paytm wallet is you can buy and sell gold anytime. Though it is a bank holiday or a public holiday or anytime. One can buy and sell gold on paytm Instantly.
Even Paytm delivers gold at your doorstep. If you want physical gold,
they will be delivering gold to your like they deliver their other products. But it is highly recommended to check gold rates in Kolkata before buying.
This is a question that is not of concern these days. Until a few years ago, investors and consumers of gold would ask a very pertinent question: Is this KDM gold? The reason is because KDM was easily bought back by the jewellers and this was the favorite. However, there were worries that alloying with Cadium was dangerous to the workers and also caused skin allergy. Now, this is almost unused in the gold industry today.
Hallmarked gold is very different in the sense that it is only assuring you of the purity of the metal, through the many essaying centres in the country. Let us say that you are looking to buy quality gold, then the only way would be to buy the essayed gold or as they say the hallmarked gold.
This ensures on the purity of gold and an individual feels safe when he buys and knows that he has got quality and purity.
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. Most of the agencies import gold based on their own demand and supply. If there is an adequate demand, the imports could be higher. However, we have seen lately that demand for the precious metal has been declining on a sustained basis. If you are a buyer, it would be buy on dips. So, gold rates today In Kolkata are also impacted by the amount of imports that happen into the country.
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? However, what we need to emphasize is that there is a high possibility that at the currrent levels gold may very well remain flat. While ths history of gold prices surging has almost remained interesting, will gold prices in Kolkata today gain momentum as in the past, is the important question. If it does not, what is the reason for buying into it in the very first place. While the historic price trend of gold has always been interesting, it is doubtful that gold prices would surge the same way it did in the past. For gold to move higher, we need to understand the finer nuances around price movements.
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. As we have stated, gold prices are no longer attractive like they used to be in the past. Therefore, we advocate that you do not buy the precious metal. Just stay away from it for the time being. If you get an opportunity then buy the same on declines. It is a good opportunity to buy and sell gold to make money, keeping in mind that you need to buy high and sell lower, to make the much needed money. The US Fed has now raised interest rates twice in the last two months and it is likely that they would do so again. So, that would keep pressure on gold rates in Kolkata, which can not move higher or lower depending the Fed's move. It is hence very important to be buying into gold at the right prices, otherwise you would have probably missed a chance.
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 also come into play. Whatever the factors, it is time that central banks buy even more of the metal, as it is a perfect hedge. However, at some stage we might not see too much of buying coming in as the demand would have pleataued and there are chances of a trend reversal in gold prices in Kolkata happening at some stage. All this depends on a host of factors and political factors including elections in select states are the biggest risk. However, if the central banks across the glove keep mopping gold, we could well see gold prices heading higher. However, if gold prices keep staging a dramatic recovery it would be difficult for the central banks to keep buying into the precious metal. Hence, if you have a great long term objective of buying you could join the centrals banks across the country in doing so.
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. It is not that the government keeps altering the prices of the precious metal. In fact, it has not in the last few years. However, should prices of the domestic metal fall dramatically from the current levels, you might see the government raising the import duties of gold. investors would still buy gold in kolkata despite the raising of such duties as they continue to like the precious metal. How duties on the precious metal move is a very dynamic phenomenon. This is more under the jurisdiction of the central government and is highly unpredictable. At the moment there is also a value added tax on buying gold. However, once the Goods and Services Tax comes into the picture we might see a host of taxes being scrapped in future. This is because the GST will pave the way for several taxes to be abolished and this could make gold prices in Kolkata lower.
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. You have so many options to choose from these days that you should not be handicapped that you are stuck with just one rate. The mmore you buy the more you might be taking the risk. So, it is a good idea to buy into gold in small quantities to avoid a sudden sharp decline in the price of gold. Buy in systematic quantities, which will privide some hedge against a sharp decline. Sovereign gold bonds, is something that the government has been trying hard to sell but, has not paid-off. Nobody at the moment seems interested in these bonds. So, in short, this should probably be the last of your options, if you are looking to buy gold. There is no much incentive to invest in this type of gold at the moment. So, it would be a good idea to stay away from it. You can go with your own choice and buy into whichever product you want. What we are telling our investors that there is an abundance of choices for them and they can take their own decision when buying into the metal. However, carefully select the jeweller though for ensuring quality. Today, there are a plethora of options and one must be careful when buying. It should be selective buy on decline opportunity only.
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. Because of its convenience, it is now one of the most preffered ways to invest. The norms when you require and do not require a PAN card is likely to change. These days if you buy gold jewellery above Rs 2 lakhs, you need to have a PAN card. Earlier, the norm was Rs 1.5 lakhs. If you have lesser amounts there is no problem at all. Also, with the demonetization and all the issues surrounding the black money, buying gold through cash has also become a dangerous thing. So, it is better to pay buy card when you are buying gold in the city of Kolkata. Not only is it safer it is the best and the most ideal way to go about buying gold.
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.
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.
There is a high possibility that gold prices may decline in 2018, 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 2018. 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. As they gain they can fall as well, so do not worry too much of price movements, which can be in both directions. It is difficult to rightly predict the outcome of gold at all times, but, what we know is that there is a high possibility that gold prices could rally in the more long term in the city of Kolkata.
This a scheme launched by Reserve Bank of India on behalf of the Indian government. Reserve Bank issues these bonds, and for the ease of the customers, they distribute gold bonds through banks and designated post offices. The price of these bonds will be as per the gold price in Kolkata on the day you are buying.
Not only Bank and post offices there are few NBFCs, NSC agents who would help getting authorized to collect the application form and submit in banks and post offices. Even you can buy it on NSE and BSE as well.
If you are an Investor, Sovereign Gold Bond is a superior alternative to holding gold in physical form. There will be no risks and costs of storage. The will be getting as per the gold rate in Kolkata on that day. One of the great benefits from gold bonds is they are free from issues like making charges and purity of gold.
The only risk you will be facing because of the gold bond is the risk of capital loss If the market gold price in Kolkata declines.
Gold Bonds are issued in denominations of one gram. Of which the minimum investment in the Bond shall be two grams and the maximum buying limit will be of 500 grams per person.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
In Kolkata we are not seeing any particular month, which has exceptional demand for gold. The wedding and auspicious season is generally in the months of Oct, November, January and February. March tends to be along with April a lean season for buying gold in Kolkata. Here again, it really depends on the prices. If gold rates fall, then individuals buy gold without too much worry. So, in short, they tend to lap-up gold at lower levels. There is no relation between marriages and gold prices in Kolkata, as these largely depend on international prices. However, people in Kolkata are known to lavishly spend on wedding ornaments, as most of them feel that this is once in a lifetime and is also very auspicious. If you are making a large number of ornaments, it is better to check the prices and also the making charges. This is because even a marginal difference in making charges could mean a lot.
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.
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 is a vibrant one. Look to buy into the metal whenever you have the money. The only problem that we see with gold prices right now is the fact that the difference in buying and selling leaves one with very little money to make.
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. To be honest you cannot call the impurities in gold as impurities, because they are merely alloyed with another metal to gain tensile strength.
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. This will ensure some peace of mind and you are assured on the quality of the metal that is being sold.
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. Some of the big chains from Souh India also have their presence in Kolkata and you could look at them also to buy. However, many individuals iin Kolkata have their own traditional family jewellers whom them go to, which is a good thing. They have been visiting these shops for many years now and hence there is a certain sense of trustworthiness.
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. Today, a lot of gold in Kolkata is still available with some of the major households in Kolkata.
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. Increasingly, if you see other forms of gold investments are also in vogue these days including the popular gold ETFs and Sovereign gold bonds.
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. If you are not sure of the proces do visit our website as we tend to update our gold rates in Kolkata very often.
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.
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.
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 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.
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.
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.
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.
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.
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.
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.
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.
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 has been on an upswing as the quarter ending June 30, 2017, 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.
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 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.
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.
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.
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.
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.
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.
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 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 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.
All the metal prices are focused on supply and demand changes. In the international markets, gold price was slightly down as the dollar rate was somewhat steady. This is because of geopolitical worries and the US central bank meeting in Jackson Hole in this week. Investors are wary ahead of these situations, especially if interest rates in teh US rise, which could lead to gold prices dipping in trade. Spot gold slipped 0.1 percent, and U
Gold prices in Kolkata on December 3, 2021 are down by a tad and in three days have taken a knock of Rs.
450 per 10 gm. Likewise, gold of 24 carat in Kolkata is retailing for Rs. 49,550, while that of 22 carat is priced for 46,850 per 10 gm.
In the international markets, spot gold at 9:25 pm IST or 11:23 NY time was marginally up by 0.5% at $177 per oz. Likewise, gold futures Feb 22 traded with higher gains of close to 0.85 percent at $1777 per oz. The gains in the bullion are seen even as the dollar stood firm on weaker than expected US jobs data report released today. In comparison to Dow Jones forecasts of 581,000 jobs for the month of November, non-farm payrolls increased by just 210,000.
Nevertheless, treasury yield fell after the data and last traded with a cut of 4 percent. Notably the cut in the yield is pushing gold higher but other factors cap the upside in the bullion including the US Fed’s constant reinforcement to quicken the speed of its asset tapering plan. Atlanta Fed President Raphael Bostic told the Reuters Next conference on Thursday that it would be appropriate to end the Fed’s bond-buying program by the end of March 2022.
Gold, though higher by a margin, is on course for a third straight weekly decline owing to the calls of an earlier than previously called for asset tapering and interest rate hike to curb inflationary pressure.
On the MCX, gold of February delivery is up by close to 1 percent and has hit day’s high price of Rs. 47,860 per 10 gm. Silver though is trading higher by a margin.4 December 2021
Gold price in trade on Tuesday (November 30, 2021) has gained by a marginal Rs. 100 for both 24 and 22 carat gold in the city of joy-Kolkata. Likewise, gold of 24 carat purity after gaining Rs. 100 is retailing at a price of Rs. 50,000 per 10 gm, while 22 carat gold on similar gains is priced at Rs. 47,300 per 10 gm.
Internationally, spot gold at 12:09 NY time or 10:39 pm IST is down by 0.8 percent and trading at $1770.4 per ounce. Gold futures in fact have receded by over 0.5 percent to last quote at $1776 per ounce. Gold price is seen losing despite softness in the US bond yield by a sharp over 5 percent. Note bond yield and dollar share inverse relationship with gold i.e. when the former two gain, there is seen some correction in the precious yellow metal. However, defying the usual trend, gold is trading with a cut despite softness in yield.
On Tuesday, the US Chair Powell iterated that the term 'transitory' is no longer the most relevant term to describe the nature of the current high inflation rate."It is probably a good time to retire that word," Powell said.
Meanwhile, on the MCX, gold prices for December delivery is down by over 0.6 percent to Rs. 47,698 per 10 gm.30 November 2021
Gold price in Kolkata on November 27, 2021 (Saturday) has fallen by Rs. 200 per 10 gm for both 24 carat and 22 carat gold. Likewise, gold of 22 carat purity after the decline is quoting at a price of Rs. 47,000, while that of 24 carat is retailing at a price of Rs. 49,700.
Internationally, spot gold on Friday closed the session higher by a tad 0.19 percent to $1791.8 per ounce after breaching key level of $1800 per ounce. Gold futures also ended with gains of 0.4 percent to $1791.4 per oz.
The latest trigger for the gold price surge has been the detection of the new Covid variant in South Africa which is deemed to be more infectious than the Delta variant, boosting 'safe haven' buying in the precious yellow metal. "Gold prices traded higher with spot gold prices at COMEX trading 1% up at USD 1808 per ounce on Friday.
The softer dollar and fall in US bond yields have supported gold prices to trade up”, according to HDFC Securities, Senior Analyst-Tapan Patel. Gains though have remained capped due to the anticipation around earlier than expected tightening of monetary policy by the Federal Reserve which will impact the liquidity in the global system.
Back home, on the MCX, gold futures for December delivery last settled at a price of Rs. 47,640 per 10 gm, up over Rs. 200 or 0.46 percent. Meanwhile, during the intra-day trade on Friday, it hit a high of Rs. 48,223 per 10 gm. Silver futures on the other hand cracked by a steep 1.63 percent or Rs. 1031 to settle at Rs. 62,119 per kg.27 November 2021
Gold rates in Kolkata gain by a tad even as prices internationally climb by over 1 percent on new Covid strain concerns that lifted the bullion’s safe haven appeal. 22 carat and 24 carat gold both after gaining Rs. 100 per 10 gm today quoted at a price of Rs. 47,200 and Rs. 49,900 per 10 gm, respectively.
In the international markets, spot gold at 7:43 NY time gained by over 1 percent and once again breached crucial levels of $1800 per ounce to quote at $1807.3 per ounce. Gold futures-Dec 21 meanwhile gained 1.37 percent and traded at $1809.
Back home, on the MCX, December gold futures at around 6:15 pm (Indian time) were up 1.47% or Rs. 700 to Rs. 48,118 per 10 gram while silver futures were up 0.27% to Rs. 63322 per kg.
COMEX gold trades modestly higher near $1,797/oz supported by safe haven buying on the back of the emergence of a new variant of COVID virus. A drop in US bond yields and pause in the US dollar index are also supporting the price.
Rise in Chinese imports showed a robust demand for gold. Lack of investor interest and increased anticipation of Fed’s monetary tightening, however, weighed on the prices. Gold may trade higher as the market reacts to new virus-related development. A sharp rise is though unlikely with focus still on Fed, said Ravindra Rao, CMT, EPAT, VP- Head Commodity Research, at Kotak Securities.
Gold price in Kolkata today (November 25, 2021) remain unchanged after previous two days of sharp fall. Consequently, 22 carat gold is quoting at a price of Rs. 47,100 per 10 gm, while that of 24 carat purity is available for Rs. 49,800 per 10 gm.
In the international markets, spot gold at the time of writing this report at around 7:37 pm (8:59 NY time) traded with minor gains at $1791.2 per ounce. On the previous day, international gold prices settled near three-week lows.
In trade on Thursday, gold prices gained but remained below the key level of $1800 per ounce after the US Federal Reserve’s minutes from the latest meet provided that the central bank could expedite its asset tapering plan. Meanwhile, the US 10-year bond yield as well as the US dollar that shares inverse relationship with the bullish both headed lower today.
Back home, on the MCX, gold futures for December delivery after gaining by a tad quoted at Rs. 47,503 per 10 gm, while intra-day high has been Rs. 47,592.
“Gold and silver held steady after FOMC minutes and most of the Federal Reserve officials are not in hurry to raise interest rates. Inflation will subside significantly in 2022, believes the committee members. Lockdown in Germany will also support safe haven buying in precious metals”, says Manoj Kumar Jain, Director, Head-Commodity & Currency Research, Prithvifinmart Commodity Research.25 November 2021
Gold price in the city of Kolkata on November 24, 2021 have fallen by up to Rs. 1100 per 10 gm. Consequently 24 carat gold after falling by Rs 900 per 10 gm retailed at a price of Rs. 49,800, while 22 carat gold after slipping Rs. 1100 quoted at a price of Rs. 47,100 per 10 gm..
In the international markets, spot gold has gained marginally at around 11:35 NY time to $1791.5 per ounce. On Tuesday, gold fell again below $1800 per ounce after Joe Biden- the US President nominated Jerome Powell for the second term as Fed Chair.
The decline in the precious metal came as investors see Powell to support a more hawkish view in respect of monetary policy, with traders and investors discounting the first of a series of a rate hike by mid- June 2022.
This view has nudged both the US dollar and bond yield higher i.e. bearish for gold. Notably in trade today, the US 10-year bond yield is trading with minor losses of 0.61 percent.
“Gold prices in COMEX have breached $1,800 level as US bond yield spiked on Fed chair Powell's re-nomination. Raising inflation will remain a concern and the market is expecting a rate hike sooner than forecasted. Selling pressure may continue in today's session and any rise in prices towards resistance levels may witness selling pressure in precious metals”, says Abhishek Chauhan, Head of Commodity & Currency at Swastika Investmart.24 November 2021
Gold rate in Kolkata mirroring international rate trend fell by between Rs. 90- Rs. 280 per 10 gm on November 23, 2021. Likewise, after falling Rs. 280 per 10 gm, gold of 24 carat purity was retailing at a price of Rs. 50,700, on the other hand on softening by Rs. 90- 22 carat gold was available for a price of Rs. 48200 per 10 gm. Note these rates are indicative and ex-GST and other levies, for exact rates you may contact your local jeweler.
In the international markets, spot gold fell below $1800 per ounce mark, after having fallen close to 1 percent at 8:49 NY time. Gold futures likewise retreated lower by a similar proportion to $1787.3 per ounce. After the White House announced that Jerome Powell gets a second term as Fed Chair both dollar and the US bond yield have gained. This is as traders in the market are discounting a faster monetary tightening stance.
Back home, on the MCX too, gold futures for December delivery slipped by close to 1 percent or Rs. 466 and quoted at Rs. 47,457 per 10 gm, while it hit an intra-day high of Rs. 48,031. Meanwhile, silver saw a bigger crack and fell by over Rs. 2000 or 3.24% to Rs. 62,480 per kg.
“Gold and silver prices saw a knee-jerk reaction after the US President nominated Jerome Powell as the US Federal Reserve Chairman for a second term. Both the precious metals settled on a weaker note in the international markets.
We expect both the precious metals to remain volatile and could find support at lower levels. Gold has support at $1796-1782 per troy ounce and resistance at $1818-1832 per troy ounce, while silver has support at $24.00-23.84 per troy ounce and resistance at $24.55-24.80 per troy ounce”, Manoj Kumar Jain, Prithvi Finmart Commodity Research is quoted as saying in a report.23 November 2021
Gold prices in the city of Kolkata are steady on November 22 after two days of decline amounting to Rs. 210 per 10 gm for 24 carat of gold. Likewise, gold of 24 carat purity is retailing at a price of Rs. 50980 per 10 gm, while that of 22 carat is available for Rs. 48,290 per 10 gm. Note these rates are just indicative and without GST and other levies.
In the international markets, spot gold has edged lower and at 6:28 NY time quoted at $1838.8, down 0.34 percent. The current losses in the bullion are to do with the hardening bond yield and stronger dollar. Dollar gained momentum after euro was battered on growing concerns around the impact of increasing coronavirus cases in Europe. Likewise, the US 10-year bond yield climbed almost 3 percent to 1.581.
Another factor providing a push to the dollar is the recent comments by Fed officials which point to a likelihood of a faster pace of asset tapering or bond buying programme amid a robust economic resilience and higher levels of inflation.
On the MCX, gold futures contract for December delivery mirroring international trend has tumbled proportionately and last at around 5:23 pm traded down by Rs. 167 at Rs. 48,661 per 10 gm.
Without any fresh trigger this week, we expect gold prices to trade between Rs 48,500 and Rs 49,300 with an upward bias, views Ravi Singh, Vice President and Head of Research at ShareIndia.22 November 2021
Gold price in Kolkata today (November 20, 2021) softened by Rs. 200 per 10 gm for both 24 carat and 22 carat gold. Consequently, 22 carat gold is retailing for Rs. 48,300 per 10 gm, while 24 carat gold is priced at Rs. 51,000 per 10 gm..
In the international markets, spot gold during the previous session retreated lower by around 0.75 percent to settle at $1845 per ounce. Gold futures- Dec 21 (ZGZ1) also went down proportionately to $1847 per ounce. Gold of late is losing sheen amid prospects of earlier rate hike as inflation continues to soar. Dollar has been gaining steam on the likelihood of earlier rate hike, while the US 10-year bond yield also climbed to levels above 1.5.
On the MCX, gold futures for December delivery declined by around Rs. 200 to Rs. 48864 after hitting an intra-day high of Rs. 49308 per 10 gm on November 19, 2021. In line silver prices also registered a fall by Rs. 350 and settled at Rs. 65,620 per kg.
Dollar is trading in positive territory and is expected to advance further which may put some pressure on precious metals. Gold has resistance at Rs 49,450 and selling pressure is expected from its near resistance levels. Silver has resistance at Rs 67,200 and is likely to test Rs 66,000 levels, said Abhishek Chauhan, Head of Commodity & Currency at Swastika Investmart.20 November 2021
Gold price in Kolkata declines by Rs. 450 per 10 gm for both 24 carat and 22 carat gold. Likewise, gold of 24 carat purity is available at Rs. 51,000 while 22 carat can be purchased at a price of Rs. 48,300. Note these rates are just indicative and gold prices vary across cities owing to varied taxation implication, transportation cost etc.
In the international markets, spot gold at 7:11 NY time quoted lower by 0.2 percent at $1863.5 per ounce, while gold futures –Dec 21 (ZGZ1) was also down by a similar range at $1866.15 per ounce. The dollar moved lower today after hitting a 16-month high in the previous session.
Notably, gold and dollar shares inverse relationship i.e. on dollar gains, gold sees some pressure. A weaker dollar reduces the cost of bullion for buyers having other currencies.
Chicago Federal Reserve President Charles Evans on Wednesday said that the Fed’s complete winding down of its bond-buying program shall take time until the middle of 2022.
Back home, on the MCX, gold futures for December delivery also was down by 0.25 percent to Rs. 49171 per 10 gm, while hitting day’s high of Rs. 49,247. Silver in line edged lower by Rs. 275 or 0.41 percent to Rs. 66,350 per kg.18 November 2021
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