Jul 20
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Gold Rate In Kolkata
Gold rate in Kolkata depends largely on market fluctuations and availability. Gold buyers can opt for either 22 karat or 24 karat gold, depending on their needs. 22 karat gold is about 92% pure and commands a lower rate than 24 karat gold, which is 99.99% pure.
Investing in gold is considered a profitable option for a large number of middle-class families in Kolkata and hence it is no wonder that the city ranks very high in the list of consumers in the country. A lot of topics relating to the precious metal, however, is often unanswered. So, in this page, we aim to cover every possible topic that relates to gold and gold rate in Kolkata.
Trend of Gold Rate in Kolkata for July 2018 (rates per gram of 24 karat gold)
July 2018 – Week 1 (1 – 7):
| Parameters | Gold price (per gram of 24 karat gold) |
| July 1 Rate | Rs.3,146 per gram |
| July 7 Rate | Rs.3,165 per gram |
| Overall Weekly Performance | Incline |
- In Kolkata, gold was seen trading at Rs.3,146 per gram on the 1st of July, and remained the same on the 2nd owing to a sustained demand from the local market.
- On the 3rd, gold rate in Kolkata went down to Rs.3,144 per gram after a rising dollar pushed demand down in the local circle.
- As the dollar continued to rise steadily, gold price in Kolkata dropped significantly down to Rs.3,130 per gram.
- This, then surged to Rs.3,159 per gram on the 5th as a trade war between the US and China pushed safe haven demand up after the markets as well as the US dollar fell.
- Due to a slight slowdown in demand brought about by cautious investors, gold rates went down to Rs.3,156 per gram on the 6th.
- The final day of this week saw gold rates rise up to Rs.3,165 per gram as demand recorded a significant rise ahead of a strong demand.
July 2018 – Week 2 (8 – 14):
| Parameters | Gold price (per gram of 24 karat gold) |
| July 8 Rate | Rs.3,163 per gram |
| July 14 Rate | Rs.3,120 per gram |
| Overall Weekly Performance | Decline |
- When the week began, gold rate in Kolkata opened at Rs.3,163 per gram on the 8th with strong local as well as domestic demand amid the weakened US dollar and poorly performing equity markets.
- Rates remained untouched at Rs.3,163 per gram on the 9th before inching higher to Rs.3,164 per gram on the 10th as the US dollar index hit new lows against other apex currencies at the global level.
- However, with the greenback regaining lost ground over the next couple of days, demand for the metal declined and the yellow metal was priced at Rs.3,153 per gram on the 12th.
- Prices dropped further to Rs.3,131 per gram on the 13th with domestic demand capped by the well performing dollar and equity markets.
- Trading concluded for the week with todays gold rate in Kolkata finished at Rs.3,120 per gram amid the weak trends overseas.
Trend of Gold Rate in Kolkata for June 2018 (rates per gram of 24 karat gold)
| Parameters | Gold price (24 karat) |
| June 1 Rate | Rs.3,194 per gram |
| June 30 Rate | Rs.3,146 per gram |
| Highest Rate in June | Rs.3,210 per gram on 15 and 16 June |
| Lowest Rate in June | Rs.3,146 per gram on 30 June |
| Overall Monthly Performance | Decline |
| Percentage Change | -1.50% |
June 2018 – Week 1 (1st – 10th)
- Gold was priced at Rs.3,194 per gram on June 1st in Kolkata, which continued on till the closing hours of the next day.
- This dropped to Rs.3,177 per gram on the 3rd as demand dropped after the US dollar surged against other currencies.
- As domestic demand was steady, gold continued to trade at Rs.3,177 per gram on the 4th and the 5th despite a considerable fall was recorded in other cities.
- On the 6th, a tiny fall of Re.1 was recorded and the metal was selling at Rs.3,176 per gram.
- The 7th saw gold rate in Kolkata go up to Rs.3,183 per gram – as demand surged after other concerns came to the fore.
- With demand remaining steady ahead of the G7 meet, gold prices remained at Rs.3,183 per gram on the 8th of June.
- However, demand surged and gold rates went up to Rs.3,204 per gram on the 9th after US President Donald Trump lamented about the poor trade his country has to contend with.
- The week ended with gold prices traded at Rs.3,204 per gram.
June 2018- Week 2 (11th-17th)
- The City of Joy saw gold open the week at Rs.3,199 per gram on 11 June as demand fluctuated due to various factors.
- Local demand for gold was sluggish as international trends pointed to a slowing down of orders due to a resurgent dollar rate.
- Gold price in Kolkata dropped marginally to trade at Rs.3,194 per gram on 12 June as the summit between the North Korean and American leaders kicked off in Singapore.
- Rates remained unchanged in spite of the surge in the dollar after the end of the summit, as international demand for gold fell sharply.
- The renewal of trade tensions over possible tariffs between the U.S. and China led to markets falling once more, as investors rushed to gold as a safe-haven bet and pushed prices to Rs.3,210 per gram on 14 June.
- Prices regularised as local demand fell due to the high import cost associated with a strong dollar, as gold traded at Rs.3,192 per gram on 16 June.
- The week ended with gold continuing to trade at Rs.3,192 per gram on 17 June on poor local demand and prevalent market trends.
June 2018 – Week 3 (18th – 24th)
- When the week began, gold was recorded trading at Rs.3,192 per gram on the 18th after an increase in the dollar value from the previous session led to a decline in investor demand for the metal.
- Rates dropped to Rs.3,182 per gram on the 19th as the US dollar index gained against a basket of other major currencies at the global level.
- Demand, however, picked up with an increase in domestic buying from local jewellers, retailers and industrial units the next day. The precious metal was recorded trading at Rs.3,193 per gram on the same day.
- Steady demand coupled with firm market cues led to gold rates in Kolkata holding at Rs.3,193 per gram until the 22nd.
- The 23rd saw gold prices plummeting by Rs.38 to Rs.3,155 per kg after the greenback rose to near eleven-month highs, making the bullion expensive for foreign investors.
- The week concluded with gold rates remaining untouched at Rs.3,155 per kg on the 24th with poor domestic demand amid the weak trend overseas.
June 2018 – Week 4 (25th – 30th)
- In West Bengal’s capital, gold prices fluctuated quite a bit over the course of June week 4.
- When trading commenced for the week, on the 25th, the yellow metal was priced at Rs.3,161 per gram.
- This rose slightly to Rs.3,163 per gram on the 26th before continuing at this rate on the 27th as well as demand was stable.
- As there was a slight downturn in demand on the 28th, gold rates in Kolkata went down to 3,161 per gram.
- This rose to Rs.3,163 per gram the next day as there was a slight rise in demand.
- On the final day of the week, gold rates in the city dropped considerably to Rs.3,146 per gram as a rising dollar caused demand to drop.
Trend of Gold Rate in Kolkata for May 2018 (rates per gram for 24 karat gold)
| Parameters | Gold price (24 karat) |
| May 1 Rate | Rs.3,231 per gram |
| May 31 Rate | Rs.3,217 per gram |
| Highest Rate in May | Rs.3,248 per gram on 15 and 16 May |
| Lowest Rate in May | Rs.3,197 per gram on 18 May |
| Overall Monthly Performance | Decline |
| Percentage Change | -0.43% |
