Gold prices in India edged lower on Wednesday, with fluctuations in international markets and currency movement weighing on domestic rates. Kolkata, one of the key markets for bullion trade in eastern India, recorded 22-karat gold at Rs 10,490 per gram and 24-karat gold at Rs 11,444 per gram.
India continues to rank as the world’s second-largest gold consumer after China, and its reliance on imports remains significant. Recycled gold, though present in the supply chain, contributes only a modest portion of the country’s overall requirement.
Local Prices Impacted by Taxes and Global Currency Movements
The final price that buyers in Kolkata pay is not just a reflection of international benchmarks but also includes a variety of domestic levies. Import duty, Goods and Services Tax (GST), and state-level charges add layers of cost, pushing the retail rate higher.
Globally, bullion prices remain sensitive to bond yields and central bank monetary policies. Any major announcement by the US Federal Reserve or other global policymakers can swing sentiment sharply, given gold’s established status as a safe-haven asset.
On Wednesday, the yellow metal dipped slightly as traders weighed mixed signals from economic data and global growth indicators. With bond yields steady and crude oil showing weakness, investors have been repositioning their portfolios, influencing demand for bullion.
Gold Rates Across India
While Kolkata quoted 22-karat gold at Rs 10,490 per gram and 24-karat at Rs 11,444 per gram, other cities reported slightly different prices. In Delhi, gold stood at Rs 10,505 per gram (22-karat) and Rs 11,459 per gram (24-karat). Chennai saw rates at Rs 10,510 per gram and Rs 11,466 per gram for 22- and 24-karat respectively.
Mumbai, Pune, Bengaluru, and Hyderabad all reported similar rates of Rs 10,490 per gram for 22-karat and Rs 11,444 per gram for 24-karat. In contrast, Ahmedabad and Indore quoted slightly higher at Rs 10,495 and Rs 11,449 per gram. Lucknow matched Delhi with Rs 10,505 per gram (22-karat) and Rs 11,459 per gram (24-karat).
Gold as a Preferred Investment in Uncertain Times
Despite short-term price corrections, gold continues to be a favoured investment in Kolkata and across India. Its appeal as a hedge against inflation and global economic uncertainty remains intact.
At a time when markets remain volatile and global trade risks weigh on investor sentiment, bullion offers a sense of financial security. Whether bought in the form of jewellery, coins, or bars, gold retains its importance in household savings as well as institutional investment strategies.
