In Kolkata, there are various shops and outlets available where you can purchase gold, such as J K Chandra, D K Basak and many more. However, while buying gold, it's extremely important to be cautious and check the purity of gold, as there are many low-quality items available in the market. It is advisable to compare the gold rates among multiple jewelers to ensure that you're getting the best deal possible.
Additionally, when buying gold jewelry, make sure to only purchase hallmarked jewelry, which is certified by the Bureau of Indian Standards (BIS) for authenticity and quality. This will give you the added assurance that you are investing in a genuine product. Other than the physical shops, you can also consider online options, but make sure to purchase from reputable sources.
Today, the price 24 karat gold in Kolkata is ₹ , registering a % change from yesterday.
24 karat gold is a type of gold that is made up of 99.9% pure gold. It is the most pure form of gold that is commonly used for jewelry making. It is soft and malleable, making it easy to work with and shape into intricate designs. Because of its purity, 24 karat gold is also the most expensive form of gold. It is also important to note that 24 karat gold is not as durable as other types of gold, such as 18 karat gold, and can be easily scratched or dented.
Today, the price 22 karat gold in Kolkata is ₹ , registering a % change from yesterday.
22 karat gold is a type of gold that is made up of 91.67% pure gold. It is a more durable and harder than 24 karat gold because it is alloyed with other metals such as copper, zinc, nickel, or silver. 22 karat gold is commonly used for jewelry making, particularly in the Indian subcontinent, due to its durability and resistance to wear and tear. It is also less expensive than 24 karat gold because it contains less pure gold. 22 karat gold is also considered as traditional gold and considered auspicious in many cultures and customs.
There are several factors that can affect the price of gold in Kolkata or anywhere else in the world. Some of the main factors include:
International gold prices: The price of gold on the international market has a direct impact on the price of gold in Kolkata. If the international price of gold increases, the price of gold in Kolkata will also increase, and vice versa.
Economic conditions: The economic conditions in India and the world can also affect the price of gold. For example, if there is a recession or economic uncertainty, people tend to invest more in gold as a safe haven asset, which can drive up the price.
Interest rates: Gold and interest rates have an inverse relationship. When interest rates are high, it costs more to borrow money, which can discourage investment in non-yielding assets such as gold. As a result, the demand for gold decreases and the price goes down.
Supply and demand: The supply and demand of gold also plays a role in determining the price. If there is a shortage of gold on the market, the price will increase, and if there is an oversupply, the price will decrease.
Currency fluctuations: The value of rupee also affects the prices of gold, as gold is traded in US dollar internationally, so if the rupee is weaker against the dollar, the prices of gold would be relatively more expensive in rupee terms.
Import and excise duty on gold : Govt. of India keeps on changing the import and excise duty on gold, which can also affect the prices of gold in Kolkata.
There are several places in Kolkata where you can check the purity of gold. Some options include:
Bureau of Indian Standards (BIS) hallmarking centers: BIS is the government agency responsible for certifying the purity of gold in India. They have several hallmarking centers in Kolkata where you can take your gold to be checked for purity.
Jewelry Stores: Many reputable jewelry stores in Kolkata have in-house facilities to check the purity of gold. They often have trained staff who can use X-Ray Fluorescence (XRF) machines or other equipment to test the gold's purity.
Assaying and Hallmarking Centers: In Kolkata, you can find some centers which are dedicated to the assaying and hallmarking of gold. They are independent and are certified by government bodies. They can provide you a certificate after testing your gold.
Banks: Some banks like ICICI, Axis etc. also have the facility to check the purity of gold and can provide you with a certificate.
It is important to note that it is always advisable to check the purity of gold from a reputed and certified agency, because it will give you assurance about the authenticity and quality of gold.
The price of gold in different cities in India is influenced by a combination of local and global factors, including transportation costs, local taxes, market conditions, economic conditions, and currency values.
Transportation costs: The cost of transporting gold from one city to another can affect the price. If transportation costs are high, this can lead to higher prices for gold in the city it is being transported to.
Local taxes: Different cities may have different tax rates, which can affect the price of gold. For example, if a city has a higher tax rate on gold purchases, the price of gold may be higher in that city compared to a city with a lower tax rate.
Market conditions: The supply and demand for gold in different cities can also vary, which can affect its price. If demand for gold is high in a particular city, this can drive up its price.
Economic conditions: The economic conditions of a city can also impact the price of gold. If a city has a strong economy, demand for gold may be lower, leading to lower prices.
Currency values: As mentioned earlier, gold is priced in U.S. dollars, so changes in the value of the U.S. dollar can affect gold prices. If the U.S. dollar weakens, gold may become more expensive for buyers using other currencies.
Gold is considered a precious metal in India and around the world for a number of reasons:
Rarity: Gold is relatively rare, and it is estimated that all of the gold that has ever been mined would fit into a single cube that is about 21 meters on each side. This rarity contributes to its value.
Durability: Gold is a very durable metal and does not corrode or tarnish, which means it can be stored and preserved for long periods of time without degrading.
Malleability: Gold is very malleable, which means it can be easily shaped into a variety of forms. This makes it a popular choice for jewelry and other decorative items.
Use in industry: Gold has a number of industrial uses, including in electronics, dentistry, and aerospace.
Cultural and historical significance: Gold has a long history of being associated with wealth and luxury, and it has played a significant role in many cultures around the world. In India, gold has a particularly strong cultural and religious significance and is often given as a gift at weddings and other special occasions.
Here are some things to consider when buying gold:
Quality and purity: It is important to ensure that the gold you are buying is of good quality and has the purity level that is advertised. You can check the purity of gold using a gold testing kit or by having it tested at a government-approved assayer.
Reputation of the seller: It is always a good idea to deal with reputable sellers when buying gold. You can ask for recommendations from friends or family, or do some research online to find a reputable seller.
Price: Gold prices can vary, so it is a good idea to shop around and compare prices at different sellers before making a purchase.
Return policy: It is always a good idea to find out the return policy of the seller in case you need to return or exchange the gold.
Certification: Consider purchasing gold that has been certified by a reputable organization, such as the Bureau of Indian Standards (BIS), to ensure its quality and purity.
Gold prices in are determined by a number of factors, including the global market price of gold, the cost of production, supply and demand, economic conditions, and currency values
Gold is considered a precious metal in India and around the world for a number of reasons: Rarity, Durability, Malleability, use in industry, cultural and historical significance.
The price of gold and silver in different cities in India is influenced by a combination of local and global factors, including transportation costs, local taxes, market conditions, economic conditions, and currency values.