Kolkata Gold Prices Dip Amid Global Market Trends
Gold prices in Kolkata slightly declined due to a stronger US dollar and shifting interest rate expectations internationally. Domestic demand softened marginally, but investors still view gold as a safe haven amid market volatility. Prices are influenced by global factors and the rupee's exchange rate, with 24-karat gold priced at Rs 12,448 per gram in Kolkata, slightly lower than other major Indian cities.
On Monday, gold prices in Kolkata experienced a slight decline reflecting global market trends driven by a stronger US dollar and adjusted expectations regarding interest rates. Despite the dip, investors maintain confidence in gold as a stable investment amid ongoing financial uncertainty and market volatility. India's heavy reliance on gold imports makes domestic prices sensitive to international price shifts and currency fluctuations, particularly the rupee’s exchange rate, which affects import costs. A weaker rupee tends to increase retail gold prices, while a stronger rupee helps stabilize them. In Kolkata, 24-karat gold was priced at Rs 12,448 per gram, with 22-karat gold at Rs 11,410 per gram, slightly lower than in other metropolitan markets such as Delhi, Chennai, and Mumbai where prices hover around Rs 12,460–12,490 per gram. Retail demand in Kolkata has softened on the short term, but long-term investors hold their positions anticipating a rebound, especially with the upcoming festive season expected to boost gold buying. The article highlights gold’s dual role in India as both a cultural staple and a financial safeguard, with its intrinsic value sustaining steady demand despite short-term price fluctuations and global economic uncertainties.
