Gold prices in Kolkata were largely unchanged on Friday as global markets remained cautious and investors awaited further signals on monetary policy moves. India, the world’s second-largest gold consumer, continues to depend significantly on imports to meet its domestic appetite for the metal. Despite efforts to promote recycling and formal collection systems, their overall contribution to supply remains low.
Rupee Weakness and Global Headwinds Influence Trends
Because gold is traded globally in US dollars, any decline in the rupee’s value pushes up local prices, while a stronger rupee can help offset some of the rise. Internationally, gold prices are being influenced by a mix of factors, from US economic data and interest rate outlooks to geopolitical developments and energy market trends.
On Friday, global gold prices held steady as traders assessed the potential timing of central bank rate cuts and inflationary pressures. The overall tone in the market remained cautious, keeping domestic demand largely stable.
Kolkata Gold Prices Remain Firm
In Kolkata, the price of 24-karat gold stood at Rs 12,202 per gram, while 22-karat gold was priced at Rs 11,188 per gram. These rates reflected no major change from earlier levels, suggesting steady demand and balanced market sentiment.
Analysts highlight that while the short-term outlook remains range-bound, gold’s long-term fundamentals continue to be strong.
Robust festive and wedding-related demand, coupled with its enduring value as a hedge against inflation, is likely to provide consistent support in the coming months.
Experts also note that global factors such as oil prices, dollar strength, and bond yields will continue to play a decisive role in shaping India’s gold price trajectory. For now, Kolkata’s gold market remains stable, with prices likely to fluctuate modestly as traders respond to global economic shifts and domestic buying trends.
