Gold prices in Kolkata edged lower on Wednesday, reflecting the broader decline in the precious metal across Indian markets. The price of 22-karat gold in the city stands at Rs 9,180 per gram, while 24-karat gold, also known as 999 gold, is priced at Rs 10,015 per gram.
This drop in rates comes at a time when investors are keeping a close watch on international market movements, currency fluctuations, and signals from global central banks, all of which play a crucial role in shaping domestic gold trends.
Impact of Currency and Taxes on Local Gold Prices
India, the world’s second-largest consumer of gold after China, relies heavily on imports to meet its demand, with recycled gold forming only a small portion of overall supply. Since international trade in gold is conducted in US dollars, even minor changes in the rupee-dollar exchange rate immediately impact local valuations.
Adding to this, import duties, the Goods and Services Tax (GST), and other state-level levies significantly influence the final retail cost of gold in Kolkata. These additional charges can sometimes widen the gap between global trends and domestic pricing, making India a distinct market in terms of consumer cost.
Market experts note that the demand for gold in Kolkata typically intensifies during festivals and wedding seasons, which may help support prices even when international cues are weak.
Gold Rates Across Key Indian Cities
Alongside Kolkata, other major Indian cities also witnessed similar trends in gold prices. In Delhi, rates currently stand at Rs 9,195 per gram for 22-karat and Rs 10,030 per gram for 24-karat gold. Prices in Mumbai, Bengaluru, Pune, Hyderabad, and Chennai are broadly aligned at Rs 9,180 per gram for 22-karat and Rs 10,015 per gram for 24-karat gold.
Ahmedabad and Indore recorded rates of Rs 9,185 for 22-karat and Rs 10,020 for 24-karat gold. Meanwhile, Lucknow matched Delhi, quoting Rs 9,195 per gram for 22-karat and Rs 10,030 for 24-karat gold.
Amid this, analysts remain cautious, citing global uncertainty and policy shifts as potential sources of volatility. Gold, often seen as a safe-haven asset, continues to play an important role for households and investors in Kolkata seeking long-term wealth preservation.
