Gold prices in Kolkata rose on Monday, aligning with broader national trends as investors sought refuge in safe-haven assets amid global economic uncertainty. The price of 24-karat gold in Kolkata reached Rs 12,317 per gram, while 22-karat gold was valued at Rs 11,290 per gram.
India remains the world’s second-largest consumer of gold, trailing only China, and continues to depend on imports to meet domestic demand. Despite initiatives to strengthen gold recycling and develop organised collection networks, recycled gold still accounts for a small portion of supply, leaving India’s market exposed to global price dynamics.
Rupee Movements Impact Local Rates
Since gold is traded in US dollars, fluctuations in the rupee directly influence domestic prices. A weaker rupee inflates import costs, leading to higher prices for Indian consumers, while a stronger rupee can help moderate price pressures.
Globally, bullion markets are shaped by movements in bond yields, central bank policies, and geopolitical risks. The metal’s reputation as a hedge against inflation and uncertainty keeps it in demand among investors looking for financial security.
Strong Festive Demand Adds Momentum
Gold continues to hold emotional and cultural significance in Kolkata, particularly during wedding seasons and festivals. Retailers report stable footfall and consistent sales, even as prices hover near record highs. Many buyers see gold not only as a traditional purchase but also as a prudent long-term investment.
Across major Indian cities, Monday’s gold rates reflected steady sentiment. In Delhi and Lucknow, 24-karat gold was priced at Rs 12,332 per gram, while Chennai reported the highest rate at Rs 12,382 per gram. Prices in Ahmedabad and Indore stood close at Rs 12,322 per gram.
With global markets remaining volatile, analysts expect gold to remain a favoured asset in the short to medium term. Ongoing concerns over inflation, shifting monetary policies, and fluctuating crude prices are likely to keep the metal’s outlook buoyant among Indian investors.
