The wedding season brings great news for gold buyers as prices drop significantly in Kolkata’s market. After a steady rise in recent months, gold prices have taken a sharp dip, offering relief to buyers, especially families preparing for weddings.
On Wednesday, November 27, 2024, the price of 22-carat gold is set to be ₹70,800 for 10 grams, while 24-carat gold will cost ₹77,240 for 10 grams. Buyers are advised to act quickly and take advantage of this price drop.
Gold Price Trends in November:
The price of gold has been on a downward trend since the first week of November. On November 18, 22-carat hallmark gold fell to the ₹70,000 range, marking a significant decrease. However, prices surged again from November 19 onwards.
On Monday, November 25, the price of 22-carat hallmark gold was ₹74,750 for 10 grams. By Tuesday, it dropped by ₹1,250 to ₹73,500, the steepest fall since November 18. Similarly, 24-carat gold prices declined by ₹1,350, from ₹78,650 on Monday to ₹77,300 on Tuesday.
Why Are Gold Prices Dropping?
The primary reason behind the price drop is the decline in international gold prices. This has directly impacted the domestic market, making gold more affordable for Indian buyers.
Gold Price Statistics:
- Monday (November 25, 2024):
- 22-carat gold: ₹74,750 for 10 grams
- 24-carat gold: ₹78,650 for 10 grams
- Tuesday (November 26, 2024):
- 22-carat gold: ₹73,500 for 10 grams
- 24-carat gold: ₹77,300 for 10 grams
Over the past week, 24-carat gold prices have seen a 3.21% drop.
Who Benefits from the Price Drop?
- Wedding Shoppers: Families planning wedding purchases can save significantly on gold jewelry.
- Investors: The reduced price presents a great opportunity for gold investments.
Tips for Buyers:
- Ensure you purchase hallmark-certified gold to guarantee quality.
- Stay updated on market trends for the best deals.