After witnessing a brief correction in the previous trading session, gold prices in Kolkata rebounded slightly on Saturday, aligning with trends seen across other major Indian cities. The price of 22-karat gold now stands at ₹9,060 per gram, while 24-karat gold is priced at ₹9,883 per gram.
This upward tick reflects renewed interest from retail investors and jewellers, who are cautiously navigating global uncertainties, inflationary pressures, and fluctuating currency values.
Steady Climb After Friday’s Slide
The modest rise today follows a notable decline on Friday, when gold prices dropped across cities like Delhi, where 99.9% pure gold fell by ₹600 per 10 grams. Silver prices also dipped by ₹1,000 per kilogram, echoing the bearish sentiment triggered by a stronger US dollar and firmer treasury yields.
However, Saturday’s recovery across Kolkata, Mumbai, Chennai, Bengaluru, Hyderabad, and Pune points to a stabilizing domestic market buoyed by consistent demand.
Current Gold Rates in Major Indian Cities (Per 10 Grams)
| City | 22K | 24K |
|---|---|---|
| Kolkata | ₹ 90,515.00 | ₹ 98,745.00 |
| Bangalore | ₹ 90,505.00 | ₹ 98,735.00 |
| Chennai | ₹ 90,511.00 | ₹ 98,741.00 |
| Delhi | ₹ 90,663.00 | ₹ 98,893.00 |
| Mumbai | ₹ 90,517.00 | ₹ 98,747.00 |
| Pune | ₹ 90,523.00 | ₹ 98,753.00 |
What’s Driving Today’s Price Shift?
Several interlinked global and domestic factors are influencing today’s movement:
- Global Dollar Index: A stronger US dollar puts downward pressure on gold, but even minor shifts influence domestic pricing.
- Macroeconomic Data: Robust US economic indicators are impacting global bullion trends.
- Local Levies: GST, import duties, and state taxes continue to affect final consumer pricing in India.
- Investor Sentiment: Gold remains a go-to investment in times of uncertainty, especially with inflation concerns on the horizon.
India’s Gold Demand Remains Resilient
As the world’s second-largest gold consumer, India’s appetite for gold remains strong. In Kolkata, cultural importance, along with investment interest, ensures steady buying patterns—especially with the upcoming festive and wedding seasons.
Recycled gold contributes a minor share of supply, with most demand fulfilled through imports—making India particularly sensitive to global pricing trends and dollar movement.
What to Expect Next?
Market experts suggest that gold prices could remain volatile in the short term, with investor attention firmly fixed on:
- Global inflation data
- Interest rate decisions from the US Federal Reserve
- Currency fluctuations in the coming weeks
For now, gold’s reputation as a safe-haven asset holds strong, and Kolkata’s slight recovery today may hint at more resilient pricing ahead.
