Gold Price in Kolkata

Gold is one of India's Most conventional investment types. Other forms of gold, like ETFs and bonds, have gained popularity over the years. Gold investments have become an apt and important hedge against market volatility. Gold is a promising product and is an important part of human life. No matter what the festival or occasion is, people constantly invest in gold.

Nevertheless, gold rates can vary based on various factors. Simultaneously, gold rates also differ based on where you buy gold. For example, the existing price of gold is different from that of Pune.

Therefore, the information mentioned in the write-up will assist you in comprehending the current price of gold in Kolkata. After reading the article, you can understand which factors impact the price of gold and the methodologies you should adopt to invest in gold. You can also analyse the genuineness of gold to ensure you invest in pure gold.

Gold Rate in Kolkata Today

The bustling markets, rich culture, and strong economy make the City of Joy a gold trading centre. As such, Kolkata has some of the best rates and jewellers. Therefore, the gold price in Kolkata today is ₹7964.00 for 24 karat. Also, the rate for 22-karat gold today is ₹7300.00       .

How to Purchase Gold in Kolkata?

When thinking of purchasing gold in Kolkata, there are pointers that you should consider. Go through the pointers meticulously to understand each one of them and identify which one works best for you based on your considerations:-

• Gold Price- The price of gold in Kolkata fluctuates daily, and the rate can rise or fall depending on factors that ascertain gold rates.
• Sellers’ Reputation- A few sellers in Kolkata charge more for low gold purity, and purchasers face losses when reselling their invested gold. Therefore, approaching reputable and reliable jewellers in the City of Joy is better.
• Purity and Genuineness of Gold- You can ensure the purity and authenticity of gold by checking the BIS hallmark and the jeweller’s mark. Purchasing hallmarked gold is good.
• Bargain on Making Fees- Purchasing gold in Kolkata implies paying additional money on making fees. Therefore, bargaining is important to minimise this charge from the seller and add to the overall jewellery rate.

Factors that Impact Gold Rate Kolkata

The rates of gold in Kolkata range based on many external factors, which makes it crucial to check gold rates. The factors that affect gold prices in Kolkata are as follows:-

• Demand and Supply- As demand and supply vary daily, the outcome creates an increase or decrease in gold rates in Kolkata.
• Rate of US Dollar- The rate of gold in Kolkata for 22 karat is extracted from current markets, especially US Dollars value. The rate of gold increases or decreases based on the rise and fall of US Dollars.
• Margin- Indian jewellers add a margin over the imported cost, thereby impacting the rate of gold in Kolkata. The more the margin, the more the gold price.
• Rate of Interest- The increase and decrease in the prevailing rate of interest in the country impacts the gold rate in Kolkata because it leads to high purchasing and selling.

Best Gold Investment Strategies in Kolkata

Approaching gold investments cautiously is necessary, and there are some strategies that you can consider when investing in gold in Kolkata:-

• While investing in gold, evaluate your level of risk tolerance and allot the right amount towards your gold investment.
• Retain a well-balanced allotment of assets even if your gold investment diversifies your portfolio.
• Tailor your gold investment methodologies based on your investment. Gold performs exceptionally in the long term, but price ranges can be important in the short term.

How is the Purity of Gold Evaluated?

The Indian Bullion Association analyses the purity and genuineness of gold. Dealers need to integrate the hallmark purity symbol in their products. The genuineness and purity of gold can be evaluated through the following ways:-

• Magnetic Test- Pure gold remains intact and maintains its colour. If gold jewellery shows fading signs or colour changes, it may not be pure.
• Colour Test- Gold does not have magnetic properties. So, if you see that your purchased gold is attracted to a magnet, it means that the gold is not pure.
• Nitric Acid Test- This includes scratching the gold piece on something and adding a drop of nitric acid to the mark. The reaction of the acid with the metal can provide inputs into the purity of the gold. The nitric acid test is best when entrusted to professionals.
• Density Test- Pure gold has a certain density. You can measure the weight of the piece and divide the weight by its volume to calculate gold’s density. After that, compare this figure with the gold’s settled density to get an approximate idea of its genuineness and putty.