Gold Rate in Kolkata
16th Jul 2018
Today MCX gold price in rupees per 10 grams.
Today gold price in Kolkata is 31775.4 rupees per 10 grams
(10 grams = 1 tola gold)
22 Carat & 24 Carat Gold Rate in Kolkata Per Gram (INR)
Today 24 Carat Gold Price per gram in Kolkata (INR)
|Gram||24 Carat Gold Yesterday||24 Carat Gold Today||Daily Price Change|
|1 Gram||Rs 3177.54||Rs 3177.54|
|8 Gram||Rs 25420.32||Rs 25420.32|
|10 Gram||Rs 31775.4||Rs 31775.4|
|100 Gram||Rs 317754||Rs 317754|
Today 22 Carat Gold Price per gram in Kolkata (INR)
|Gram||22 Carat Gold Yesterday||22 Carat Gold Today||Daily Price Change|
|1 Gram||Rs 2971.00||Rs 2971.00|
|8 Gram||Rs 23768||Rs 23768|
|10 Gram||Rs 29710||Rs 29710|
|100 Gram||Rs 297100||Rs 297100|
Gold Price in Kolkata
Gold has always been the most secure form of investment. Following the global trend, Kolkata’s gold price has experienced a huge increase in the recent years.
But the world economy is avoiding risk and still turning to the reliable asset. Although prices are high, current gold rates remain flat.
Today’s gold rate in Kolkata is fluctuating in short amplitude. It is expected that the rates will be stable during 2017. The metal demand has been improving, as gold liquidity is higher than ever.
Still, a better outlook in the global economy may cause the prices to fall, making it a proper time for investing in gold. As interest rates become higher, rate of gold in Kolkata will decrease.
Waiting for the rates to drop is a good strategy for those planning to invest in gold.
Kolkata has always been an important trade center for gold. The city’s appeal for the metal provides many options for buying and selling. Here, you can check the current gold rate in Kolkata and plan your investments ahead:
22 & 24 Carat Gold Rate in Kolkata for Last 10 Days
|16 July 2018||Rs. 2971.00||Rs. 29710||Rs. 3177.54||Rs. 31775.4|
|15 July 2018||Rs. 2971.00||Rs. 29710||Rs. 3177.54||Rs. 31775.4|
|14 July 2018||Rs. 2971.00||Rs. 29710||Rs. 3177.54||Rs. 31775.4|
Comparison of 22 K & 24 K Gold Rates in Kolkata
Historical Price of Gold Rate in Kolkata
Price of Gold in Kolkata
What are the reasons for the Huge Fluctuations In The Price of Gold in Kolkata?
Price of gold in Kolkata saw a lot oscillation coming into 2017 with demonetization still fresh. Still, it did not deter people in Kolkata from gold investment. 22 carat gold rate in Kolkata soared during New Year with people investing hugely. Though the prices became constant mid-January, by the end of it, gold price Kolkata saw a gradual fall in it.
Kolkata, one of the cities with the highest GDPs in India, accounts for a large amount of gold investment. By mid-March, Kolkata gold rate fluctuated with the increase in USD which caused the gold demand to fall. Recently, rate of gold in Kolkata saw a marginal decrease and currently, 24 carat gold rate in Kolkata today is comparatively stable. Those wanting to invest in the metal can do it now at the current gold prices in Kolkata:
What was the Effect of these Fluctuations?
Gold is one of the most secure investments, especially during inflation. Therefore, the fluctuations in the gold rate in Kolkata do not cause much harm to the gold market. To add to that, the gold prices vary on a daily basis.
GST Impact on Gold Rate in Kolkata
Gold is a taxable commodity in India, and with new norms in place, it is now charged 3% GST, 5% making charges, and an import duty of 10%. In Kolkata, wealth tax is levied if the value of your gold exceeds the value of Rs. 30 lakhs, else it is exempted.
The profit which you earn from selling gold, attracts the Capital Gain Tax on it in Kolkata. There are two types of Capital Gain Tax, one is short term (if the transaction is done within 3 years of purchase) and the other is long term (if it is more than 3 years). This also depends on the tax slab of the gold owner. If we take in to consideration your Gold ETFs (Exchange Traded Funds) in Kolkata, the gold seller is liable to pay Capital Gains Tax.
How Can You Make Gold Investments in Kolkata
Gold is highly valuable in Kolkata because of the investment openings it creates, and the beautiful ornaments, which are made from this yellow metal. Looking at the gold rate today in Kolkata, it is the one of the most popular metro cities with a number of gold investment opportunities that can be done in the form of Gold Jewelry, Gold Coins, Bullions, and Gold Exchange Traded Funds. Even after a lot of ups and downs in gold prices in Kolkata, the city hasn’t stopped from purchasing gold or investing in it.
Points to Remember when Buying Gold Jewelry in Kolkata
Today, the gold rate in Kolkata is affected by a lot of factors, but you need to be sure of the below mentioned factors before making the purchase decision.
Certification - When you’re in Kolkata, make sure that you take certified jewelry from whomsoever you are purchasing. Mostly, big and reputed gold vendors give their customers a Hallmark or KDM certification to ensure authentication of the purity of gold. It makes it easy to exchange gold against gold in future.
Labor Charges - The vendor will add making charges which go into jewelry designing. So, when in Kolkata, make sure you are charged nominally. If you check out gold rate today in Kolkata, you will know how much making charges are added on the final cost, by the vendor. Though, it will be much better to have fixed making charges on jewelry creation.
Purity - 24 karat gold is the purest forms of gold, but it is not suitable for jewelry designing. In jewelry creation, 22 karat gold (92% pure) is used. Sometimes, for jewelry-making 14 karat gold (58.33% pure) and 18 karat gold (75% pure) is also used.
Weight – The weight of your gold jewelry determines its price. For stone studded jewelry, the cost would likely be greater. Make sure that the vendor doesn’t hike the price of your jewelry by overcharging for stones or gems. If you are buying gold jewelry with diamond studded in it, the price might just be doubled.
Simply search online for the gold rate in Kolkata today and take a note of it; this will help you in making an informed decision while making the actual purchase.
Importing Gold into Kolkata
If you’re planning to gold in the city of joy, Kolkata, there are a few limitations that you may face. Let us take a look at these restrictions.
- There is a lot of import and export of gold into India. Irrespective of the import duty, it is allowed to go up to 1 kg of gold only.
- The limit of getting gold into the country for everyone, is Rs. 50,000 and Rs. 1 lakh respectively.
- If you have stayed outside India for more than 1 year, then only you can get gold from other countries. Although, you cannot bring in gold, when your purpose for going abroad was vacationing.
- Jewelry which is studded with precious metals and diamonds is restricted from being imported.
So, before you plan to invest in gold, make sure that you are aware of these norms and fully adhere to them. Also, gold price today in Kolkata is influenced by the import transactions within the country.
Factors that Influence Gold Rate in Kolkata Today
The prices of gold are affected by a number of local, as well as national factors. Known as the port city, importing gold in Kolkata becomes convenient via sea and air. Considering a lot of other factors, the prices vary in every city. And, the final price of gold is decided based on all these parameters. Also, if the central bank purchases gold to meet a rise in demand, the prices rise, affecting the prices across the country. Additionally, with import and excise duty and fluctuations in the market, the prices of gold remain volatile round the year.
Difference between KDM and Hallmarked Gold in Kolkata
Kolkata is the best place to buy 22 karat or 24 karat hallmarked gold jewelry, because the prices in the city are lesser as compared to the other cities in India. It is cheaper due to availability of port facilities, which reduce the transportation costs, for importing the yellow metal in the city. KDM jewelry is soldered with 92% Gold+ Cadmium alloy, and this doesn’t affect the purity of the jewelry.
Hallmark jewelry is an authentication certificate to ensure the jewelry you have purchased meets the purity standards, laid down by the Bureau of Indian Standards.
It’s important to make an informed decision, especially if you are investing money into gold. If you take these factors into consideration which influence its prices, it would help you make the right choice and allocate your money wisely.
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