Last 7 days Gold Rates (22 Carat & 24 Carat)

written by

Gold Rate Today in Kolkata - 22 Carat and 24 Karat Gold Price in Kolkata ( 6th October 2022)

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 6th October 2022 in Kolkata per gram is  4940/gm while for 24 Carat Gold, the per gram rate is ₹  5187/gm.

Gold Rate in Kolkata For Last 10 Days

Date

10 Gram (22 K)

10 Gram (24 K)

06 October 2022

₹ 49400

₹ 51870

05 October 2022

₹ 48800

₹ 51240

04 October 2022

₹ 48100

₹ 50510

03 October 2022

₹ 47750

₹ 50140

02 October 2022

₹ 47750

₹ 50140

01 October 2022

₹ 47750

₹ 50140

30 September 2022

₹ 47950

₹ 50350

29 September 2022

₹ 47150

₹ 49510

28 September 2022

₹ 46950

₹ 49300

27 September 2022

₹ 47450

₹ 49820

26 September 2022

₹ 47450

₹ 49820

Historical Price of Gold Rate in Kolkata

              Months

Lowest Price 24 Carat Gold Rs. Per 10 Grams

Highest Price 24 Carat Gold Rs. Per 10 Grams

August 2022

51,230

52,530

July 2022

51,500

50,770

June 2022

48,750

50,300

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

Key Points

Investment in Mutual Funds

Investment in Gold

Definition

It is a complex system that works by combining several investors funds in shares and other securities.

You can easily buy gold in various forms from jewellery stores, banks and online platforms. 

Market Knowledge

Mutual funds need you to check your investments constantly.

There's no need to regularly check gold rates while investing in Gold.

Classification

It is purely an investment

It is both an investment and a commodity.


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. 

FAQs

Q: Is Physical Gold or Gold ETF a better option?

Ans:

Whether Gold or Gold ETF is better depends on your intended use. With physical gold, you can use gold as jewellery and investment. Whereas gold ETF is only an investment instrument for which you won’t be able to get any physical gold.

Q: What is the GST on Gold Coin?

Ans:

As per the government norms, there is a 3 % GST on Gold Coin.

Q: What are the Points to Remember When Buying Gold Jewellery in Kolkata?

Ans:

The following points to remember when buying Gold jewellery in Kolkata such as:

  1. Weight
  2. Certification 
  3. Purity 
  4. Labour Charges

Disclaimer :
The information, product and services provided on this website are provided on an “as is” and “as available” basis without any warranty or representation, express or implied. Khatabook Blogs are meant purely for educational discussion of financial products and services. Khatabook does not make a guarantee that the service will meet your requirements, or that it will be uninterrupted, timely and secure, and that errors, if any, will be corrected. The material and information contained herein is for general information purposes only. Consult a professional before relying on the information to make any legal, financial or business decisions. Use this information strictly at your own risk. Khatabook will not be liable for any false, inaccurate or incomplete information present on the website. Although every effort is made to ensure that the information contained in this website is updated, relevant and accurate, Khatabook makes no guarantees about the completeness, reliability, accuracy, suitability or availability with respect to the website or the information, product, services or related graphics contained on the website for any purpose. Khatabook will not be liable for the website being temporarily unavailable, due to any technical issues or otherwise, beyond its control and for any loss or damage suffered as a result of the use of or access to, or inability to use or access to this website whatsoever.
Disclaimer :
The information, product and services provided on this website are provided on an “as is” and “as available” basis without any warranty or representation, express or implied. Khatabook Blogs are meant purely for educational discussion of financial products and services. Khatabook does not make a guarantee that the service will meet your requirements, or that it will be uninterrupted, timely and secure, and that errors, if any, will be corrected. The material and information contained herein is for general information purposes only. Consult a professional before relying on the information to make any legal, financial or business decisions. Use this information strictly at your own risk. Khatabook will not be liable for any false, inaccurate or incomplete information present on the website. Although every effort is made to ensure that the information contained in this website is updated, relevant and accurate, Khatabook makes no guarantees about the completeness, reliability, accuracy, suitability or availability with respect to the website or the information, product, services or related graphics contained on the website for any purpose. Khatabook will not be liable for the website being temporarily unavailable, due to any technical issues or otherwise, beyond its control and for any loss or damage suffered as a result of the use of or access to, or inability to use or access to this website whatsoever.