Gold prices in Kolkata witnessed further gains on Wednesday, continuing the upward momentum seen earlier this week when the precious metal touched fresh record highs. The sustained rally in bullion is being closely tracked by investors and households alike, particularly with Kolkata’s robust demand for gold jewellery and investment pieces.
In Kolkata, the price of 22-karat gold is quoted at Rs 10,130 per gram, while 24-karat gold, also referred to as 999 gold, is selling at Rs 11,051 per gram. These rates are consistent with those observed across several other metropolitan centres in India, including Mumbai, Pune and Hyderabad.
Factors Driving Price Movements
India is the world’s second-largest consumer of gold, with only China surpassing its demand. Despite the scale of appetite, the country depends heavily on imports to satisfy its requirements, as recycled supplies form just a small portion of total availability. This heavy reliance on overseas purchases makes domestic prices highly sensitive to shifts in the global bullion market.
Because gold is denominated in US dollars, even modest fluctuations in the rupee-dollar exchange rate can impact local pricing. Additionally, government-imposed charges such as import duty, Goods and Services Tax (GST), and various state-level levies all feed into the final retail price paid by consumers in Kolkata and beyond.
On the international front, movements in bond yields, central bank interest rate decisions, and investor appetite for safe-haven assets continue to steer the direction of gold. Currently, economic uncertainties and trade-related headwinds have lent support to bullion, keeping demand buoyant both globally and in India.
Kolkata Rates in the Wider Context
Across other Indian cities, price variations remain relatively narrow. In Delhi, gold is priced at Rs 10,145 per gram for 22-karat and Rs 11,066 for 24-karat. Chennai is slightly higher at Rs 10,150 and Rs 11,073 for 22-karat and 24-karat respectively. Meanwhile, Ahmedabad and Indore are quoting Rs 10,135 per gram for 22-karat and Rs 11,056 for 24-karat gold.
The domestic appetite for gold persists in Kolkata, fuelled by both cultural traditions and investment needs. Experts note that many households continue to see gold as a hedge against inflation and market volatility. “At the time of ongoing economic uncertainty and market swings, gold continues to be a go-to asset for those seeking financial security and long-term wealth preservation,” according to market analysts.
With global central banks keeping a cautious eye on growth risks and India bracing for shifts in trade tariffs, traders in Kolkata are watching closely to see if the latest rally sustains or cools off in the weeks ahead.
