Kolkata is the capital city of West Bengal and a major investor in Gold. Gold, being an investment product, is one of the best hedges against inflation. It can be owned in various forms physically i.e. in the form of jewellery, gold bars and coins. Alternatively, it can be owned in paper like sovereign gold bonds and gold exchange traded funds. Gold prices in India may vary across cities because of local market factors such as the metal's demand and supply, state government taxes and transportation charges in case of physical gold. This article explains in detail how gold is a lucrative investment option are in Kolkata and gold rates over the recent months.
There are several factors that may impact the gold rate in Kolkata. Here is a list of a some of those factors:
If a person intends to purchase physical gold, he or she simply needs to go to a jewellery shop and buy gold jewellery and/or gold coins. However, it is advised that one opts for gold coins since jewellery has making costs, which he/she will not be able to recover when he/she wishes to sell this gold. Apart from physical gold, an individual can also buy gold ETFs. These are those funds that majorly invest in gold which can be bought and sold on the exchange. To buy gold these ETFs, all one needs to do is ask the broker to buy gold post opening a broking and trading account. Sovereign gold bonds are also listed, and anyone can buy these bonds in the same way as listed shares are bought.
Here's what one needs to keep in mind when buying physical gold:
Trend of Gold Rate in Kolkata for August 2019
| Gold Rates | 22 Carat | 24 Carat |
|---|---|---|
| 1st August rate | Rs. 34,020 | Rs. 35,220 |
| 31st August rate | Rs. 37,960 | Rs. 39,260 |
| Highest Price on August | Rs. 38,440 on August 26 | Rs. 39,780 on August 26 |
| Lowest Price on August | Rs. 34,020 on August 1 | Rs. 35,220 on August 1 |
| Overall Performance | Rising | Rising |
| Percentage Change | +11.58% | +11.47% |
Source: Good Returns
Trend of Gold Rate in Kolkata for July 2019
| Gold Rates | 22 Carat | 24 Carat |
|---|---|---|
| 1st July rate | Rs. 33,020 | Rs. 34,220 |
| 31st July rate | Rs. 34,420 | Rs. 35,620 |
| Highest rate | Rs. 34,700 on July 19 | Rs. 35,900 on July 19 |
| Lowest rate | Rs. 33,020 on July 1 | Rs. 34,220 on July 1 |
| Overall performance | Rising | Rising |
| % change | +4.24% | +4.09% |
Trend of Gold Rate in Kolkata for June 2019
| Gold Rates | 22 Carat | 24 Carat |
|---|---|---|
| 1st May rate | Rs. 31,710 | Rs. 33,100 |
| 30th June rate | Rs. 33,550 | Rs. 34,720 |
| Highest rate | Rs. 33,610 on June 24 | Rs. 35,010 on June 24 |
| Lowest rate | Rs. 31,710 on June 1 | Rs. 33,100 on June 1 |
| Overall performance | Rising | Rising |
| % change | +5.80% | +4.89% |
Trend of Gold Rate in Kolkata for May 2019
| Gold Rates | 22 Carat | 24 Carat |
|---|---|---|
| 1st May rate | Rs. 30,950 | Rs. 32,660 |
| 31st May rate | Rs. 31,560 | Rs. 32,900 |
| Highest rate | Rs. 31,910 on May 8 | Rs. 33,400 on May 8 |
| Lowest rate | Rs.30,870 on May 4 | Rs.32,000 on May 4 |
| Overall performance | Rising | Falling |
| % change | +1.97% | +0.73% |
Trend of Gold Rate in Kolkata for April 2019
| Gold Rates | 22 Carat | 24 Carat |
|---|---|---|
| 1st April rate | Rs. 31,290 | Rs. 35,026 |
| 30th April rate | Rs. 31,360 | Rs.32,640 |
| Highest rate | Rs. 31,490 on April 9 | Rs.35,026 on March 1 |
| Lowest rate | Rs. 30,910 on April 18 | Rs. 32,640 on March 18 |
| Overall performance | Falling | Falling |
| % change | -5.04% | -0.21% |
Trend of Gold Rate in Kolkata for March 2019
| Gold Rates | 22 Carat | 24 Carat |
|---|---|---|
| 1st March rate | Rs. 32,440 | Rs. 34,695 |
| 31st March rate | Rs. 31,370 | Rs. 33,220 |
| Highest rate | Rs. 32,440 on March 1 | Rs. 34,695 on March 1 |
| Lowest rate | Rs. 31,090 on March 26 | Rs. 32,940 on March 26 |
| Overall performance | Falling | Falling |
| % change | -3.30% | -4.25% |
Checking the price of gold is important as even tiny variations in rate of gold can result in a huge loss. The prices of gold today are comparatively higher than that of a decade ago. Hence, people are advised to compare current gold rates of a certain jeweller with that of the others. The well-established jewellers most likely charge higher making charges for the purchase of gold. If an individual finds that making charges of gold is significantly high in a particular jewellery store, it is advised to compare and analyse the rate charged by goldsmiths or jewellers. In this way, the person might be able to find a jewwller whose rate fits the buyer's pocket.
When Gold is hallmarked by the Bureau of Indian Standards, it bears the BIS logo. This serves as evidence that purity of the gold has been verified in one of the bureau’s licensed laboratories. However, it is vital to note that BIS hallmarking is not compulsory i.e. not all jewellers provide hallmarked BIS jewellery. Some jewellers also offer in-house hallmarking which is not verified by the national standards body of India. Before one buys gold jewellery, it is important to check with the jewellers in case they provide BIS hallmarked ornaments.
The various ways through which an individual can buy gold is as follows:
Investing in gold is worthwhile because it acts as a hedge against inflation. Overtime, the returns would be in line with the rate of inflation. The second reason why financial experts recommend this route of investing is due to the fact that gold is negatively correlated to equity investments. From the year 2007, it was observed that the equity markets did not perform too well, whereas gold did. Thus, including gold in one’s portfolio mix can help reduce the overall volatility of the individual’s portfolio.
What is per gram Gold Rate in Kolkata?
According to the Good Returns website, the gold price for 24 karat gold is Rs. 3,877 per 1 gram.
What is 10 gram Gold Rate in Kolkata?
According to the Good Returns website, the gold price for 24 karat gold is Rs. 38,770 per 10 grams
What is 100 grams Gold Rate in Kolkata?
According to the Good Returns website, the gold price for 24 karat gold is Rs. 3,87,700 per 100 grams.
