Gold holds a special place in the lives of people in Kolkata, whether it’s for investment or jewelry purposes. The daily fluctuation in gold prices is influenced by various economic factors, supply-demand dynamics, and international events. Here’s a look at today’s gold prices (November 5, 2024) in Kolkata and the recent price changes over the past week.
Today’s Gold Rates in Kolkata (November 5, 2024):
In Kolkata, the price of 22K hallmark gold jewelry today stands at ₹7,515 per gram, with no change from the previous day. For 10 grams, the rate is ₹75,150.
For 24K retail gold, the price is ₹7,905 per gram, showing a decrease of ₹5 compared to the previous day. The rate for 10 grams of 24K retail gold is ₹79,050, down by ₹50. Additionally, the price of 24K gold bullion is ₹7,865 per gram, a decrease of ₹5 from yesterday, and ₹78,650 for 10 grams.
Weekly Gold Price Trends in Kolkata:
Over the past week (October 28 – November 4, 2024), Kolkata has seen fluctuations in gold prices. On October 31, 2024, a notable increase in price was recorded, where the rate of 22K gold rose by ₹850 per 10 grams, reaching ₹76,250. However, on November 3, a significant dip of ₹1,000 per 10 grams was observed in both 22K and 24K gold prices.
Monitoring weekly price changes helps buyers make informed decisions, especially those looking to purchase gold jewelry or invest in bullion. The prices can vary based on factors like international economic conditions, central bank policies, currency fluctuations, and festive demand.
Factors Influencing Gold Price Changes:
Gold prices are sensitive to a variety of influences, including economic trends, supply and demand, and inflation. Festive seasons tend to increase demand and can lead to price hikes. Additionally, during economic downturns, gold is often seen as a safe investment, which can drive prices up as well.
Key Price Details for November 5, 2024:
- 22K Hallmark Gold Jewelry (per gram): ₹7,515
- 10 grams of 22K Hallmark Gold: ₹75,150
- 24K Retail Gold (per gram): ₹7,905
- 10 grams of 24K Retail Gold: ₹79,050
- 24K Gold Bullion (per gram): ₹7,865
- Note: GST and TCS are additional
Regular updates on daily gold prices are essential for buyers who want to make the most out of their investment. By following the market trends, one can time their gold purchase to take advantage of price dips and get better value.