Gold Rate in Kolkata

About Gold Rate in Kolkata

It is unarguably one of the most popular investment commodities here, with a majority of middle-class families participating. Consequently, this city is one of the largest domestic consumers of yellow metal.

Gold prices share a close relationship with the festivity schedule here, with the demand shooting up during the same. Locals don’t seem to shy away from investing in gold during the wedding seasons and festivals such as Durga Puja.

This investment is majorly in the form of jewels and ornaments, due to the cultural significance. However, the popularity of investing in bullions, bars, and coins is also slowly catching up.

Similarly, gold investments in Exchange Trade Funds (ETFs), gold sovereign bonds, gold futures, and gold mutual funds have also risen over the years. Storage security, ease of investment, and lack of making charges seem to be the major motivation for investing in electronic and digital gold.

Gold prices in Kolkata depend heavily on market fluctuations, availability, demand-supply equations, state taxes, octroi, gold purity, cost per gram, and inflation.

However, the price determinants aren’t restricted to the domestic boundaries. They also depend on the international gold prices, international gold trade policies, and rupee-dollar trends.