Gold Price Today: Check Latest Gold Rates in Kolkata on 26 October 2024
Gold has a unique place in Bengali culture, be it for savings or adornments. The daily price of gold, influenced by global economic factors, demand, and supply, plays an essential role in the lives of those who wish to invest or make purchases for special occasions. On October 26, 2024, the gold price in Kolkata saw slight fluctuations compared to the previous day. This article provides a detailed look into today’s rates for hallmark gold jewelry, retail pure gold, and gold bullion, as well as a weekly price trend, giving you all the insights you need to make an informed purchase.
Today’s Gold Rates in Kolkata (October 26, 2024)
Here are the latest prices for hallmark gold, retail pure gold, and gold bullion in Kolkata:
- Hallmark Gold Jewelry (22k, 916 purity):
- 1 gram: ₹7465 (-₹30 from yesterday)
- 10 grams: ₹74650 (-₹300 from yesterday)
- Retail Pure Gold (24k, 995 purity):
- 1 gram: ₹7855 (-₹30 from yesterday)
- 10 grams: ₹78550 (-₹300 from yesterday)
- Gold Bullion (24k, 995 purity):
- 1 gram: ₹7815 (-₹30 from yesterday)
- 10 grams: ₹78150 (-₹300 from yesterday)
Note: GST and TCS are additional.
Weekly Gold Price Trend in Kolkata (October 18 – October 25, 2024)
Understanding gold’s weekly price trend provides a better insight into fluctuations and helps potential buyers or investors anticipate potential movements in the market. Here’s a look at Kolkata’s gold prices over the past week:
Date | Hallmark Gold Jewelry (22k, 10g) | Retail Pure Gold (24k, 10g) | Gold Bullion (24k, 10g) |
---|---|---|---|
October 25 | ₹74950 (-₹450) | ₹78850 (-₹500) | ₹78450 (-₹500) |
October 24 | ₹75400 (+₹450) | ₹79350 (+₹500) | ₹78950 (+₹500) |
October 23 | ₹74950 (+₹150) | ₹78850 (+₹150) | ₹78450 (+₹150) |
October 22 | ₹74800 (+₹350) | ₹78700 (+₹400) | ₹78300 (+₹400) |
October 21 | ₹74450 | ₹78300 | ₹77900 |
October 20 | ₹74450 (+₹450) | ₹78300 (+₹450) | ₹77900 (+₹400) |
October 19 | ₹74000 (+₹550) | ₹77850 (+₹550) | ₹77500 (+₹600) |
October 18 | ₹73450 (+₹800) | ₹77300 (+₹850) | ₹76900 (+₹850) |
Over the past week, the gold price in Kolkata has shown a mix of rises and drops, reflecting the ongoing impact of global gold rates, local market dynamics, and the rupee’s performance against the dollar.
Gold Price Variations Across Indian Cities (October 26, 2024)
Gold prices vary across different cities in India due to state taxes and transportation costs. Here’s a quick look at today’s gold rates in some major Indian cities:
- Delhi: 22k gold at ₹7320/g and 24k gold at ₹7990/g
- Mumbai: 22k gold at ₹7340/g and 24k gold at ₹8010/g
- Chennai: 22k gold at ₹7380/g and 24k gold at ₹8050/g
- Bengaluru: 22k gold at ₹7410/g and 24k gold at ₹8080/g
Factors Influencing Gold Prices in Kolkata
Gold prices in Kolkata, like elsewhere in India, are influenced by a variety of factors:
- International Gold Rates: Global economic conditions, including inflation, geopolitical factors, and currency fluctuations, impact international gold prices, which directly affects Indian markets.
- Local Demand and Supply: In Kolkata, high demand for gold during festivals and wedding seasons can lead to price spikes. Conversely, lower demand can stabilize or even lower the prices.
- Currency Exchange Rate: Gold is priced globally in US dollars. A strong dollar can make gold more expensive for Indian buyers, while a strong rupee can help keep gold prices in check.
- Central Bank Policies: Policies implemented by the Reserve Bank of India (RBI) and international central banks influence liquidity, impacting gold prices indirectly.
- Import Duties and Local Taxes: India relies heavily on gold imports, making customs duties, GST, and other local taxes a substantial part of the final gold price. State-level taxes also contribute to price differences across cities.
Why Keep Track of Gold Prices?
Gold’s role in Indian culture and finance is irreplaceable. It’s seen as a safe haven during times of economic uncertainty and a valuable addition to family wealth. Here’s why tracking gold prices can be beneficial:
- Informed Investment Decisions: Whether you’re a long-term investor or a first-time buyer, staying updated on gold prices helps in making better investment choices.
- Gold as a Hedge Against Inflation: Gold is a great way to preserve wealth, especially during inflationary periods. Rising gold prices often coincide with inflation, making it a reliable hedge.
- Buying During Price Dips: Monitoring prices allows potential buyers to make purchases when prices are more favorable.
- Understanding Market Trends: Regularly checking prices and understanding trends helps anticipate future movements, assisting both buyers and sellers in maximizing their returns.