Gold Rate Today in Kolkata - 22 Carat and 24 Karat Gold Price in Kolkata (17th November 2024)

Gold is the most preferred commodity that all Indian households prefer to buy as jewellery. It has also been used traditionally as an investment. Gold is deemed s necessary for auspicious occasions. It also provides security to take loans. Irrespective of the economic situations, the demand for gold never ceases to exist. Therefore, it is widely purchased throughout our country, and Kolkata being no exception to this general trend.

Today’s Gold Rate in Kolkata

Kolkata has been an important trading place for Gold. The city's love for gold gives numerous options for selling and buying. 22 Carat Gold rate as of 17th November 2024 in Kolkata per gram is ₹ 0/gm while for 24 Carat Gold, the per gram rate is ₹  0/gm.

Gold Rate in Kolkata For Last 10 Days

Historical Price of Gold Rate in Kolkata

Gold Investment

Investing in gold is one of the easiest forms of investment. You only need to buy and sell the gold according to the prices, especially compared to other investment methods like bank deposits, shares and real estate. You simply need to walk into the jewellery store and sell the gold. Similarly, when you buy gold, you just pay the cheque or the cash and buy gold. This is simple and easy process is a reason why people favour buying and selling gold.

Investment in Gold vs Investment in Mutual Funds

How is Gold Rate Determined?

The following are some of the factors that determine how the gold rate is determined.

1. Seasonal Demand:

Seasonal demand pushes the Gold costs higher. Traditionally, in India, the need for gold increases during various celebrations. 

2. Demand and Supply:

Simple demand and supply can impact actual gold costs. Similarly, as with any item, increased demand combined with low supply increases the cost.

3. Inflation:

When inflation rises, the value of the money goes down. This also means that people buy gold to invest and protect themselves from the decreasing value of money. Thus, during periods of inflation, particularly over a longer period, gold becomes an investment against inflation. 

4. Weakening or Strengthening of  US Dollar:

The cost of Gold is based on US dollars. Thus, the changes in the U.S. dollar affect the price of gold. A falling dollar pushes up Gold costs and the other way around.

5. Fixed Deposit Interest Rates:

When fixed deposit interest rates rise, people put money into other investments that give a fixed return, unlike Gold which doesn't ensure such return. Thus, this is another reason for the prices of gold to fall. Similarly, when fixed deposit interest rates fall, people favour putting investments into Gold. Subsequently, the demand for Gold rises, pushing up the gold rates.

916 Hallmark Gold Rate in Kolkata

Kolkata is probably the best place to buy 916 hallmarked Gold in India. The 22 Carat Gold rate in Kolkata is marginally less expensive than in other cities. The price difference is because of the nearby ports for importing Gold.

916 hallmarked Gold is Gold of 22 Carats purity. In other words, 91.6 grams is pure gold out of 100 grams, and the balance is an alloy. As pure gold is soft, an alloy should be mixed with it for jewellery and ornament making. Before purchasing Gold in Kolkata, check today’s hallmark Gold rate in Kolkata. It is ideal to buy 24 Carats, or 22 Carats hallmarked Gold according to your need.

GST Impact on Gold Rate in Kolkata

After the introduction of Goods & Service Tax, 3% GST is currently charged on Gold. When compared with the previous rate, it is somewhat higher. For the people who are interested in buying Gold ornaments, Goods & Service Tax has slightly increased the prices. Previously, the making charges were tax-exempt, yet with Goods & Service Tax, a 5% charge applies on the making charges. This had influenced the Gold Rate in Kolkata at first, but now it is steady. 

Investment in Digital Gold 

You can invest in gold in multiple ways. Here’s how: 

1. Purchasing Jewellery: The well-established traditional strategy for putting investment into Gold is ornaments or jewellery. However, people also buy alternatives like coins, bars or Demat forms (Gold ETFs or Gold Sovereign Bonds) to save money on making charges.

2. Gold Coins and Bars: When compared with jewellery, Gold bars and coins are better as you can save money on any making charges. You buy Gold coins and bars from goldsmiths, jewellery stores or banks.

3. Gold ETF: Gold Exchange Traded Fund is a Mutual Fund that trades in gold. When you buy a unit or units, they buy gold and hold it physically against the units.

Trading of Digital Gold 

You can visit any of the platforms, like Khatabook, which offer to trade in digital gold. The following steps should be kept in mind while trading: 

1. Enter an amount in rupees or grams.
2. Pick your payment option.
3. Gold to be store in a secured locker.
4. Sell whenever you need.
5. You should take Physical delivery of the gold.

Important Checklist for Buying Gold

1. Check the gold price per gram.
2. Collect bill
3. Know about different purity levels
4. Ensure certification
5. Be aware of the buy-back terms

Where to Buy Gold in Kolkata?

1. Sen Brothers Jewellers
2. Navratan Jewellers
3. Rupangan Jewellers
4. Bhaskar Das Jewellers
5. Anjali Jewellers
6. PC Chandra Jewellers

Conclusion

When purchasing Gold in Kolkata, it is best to buy 916 hallmarked jewellery. To get the best prices while buying or selling, you can check the gold rates in Kolkata regularly. Make sure to check the quality of gold before buying it.