Gold Price In Kolkata: Metal Rates Continue Their Upward Trend

After a week-long decline, gold prices have begun to show signs of recovery across Indian markets, with rates in Kolkata witnessing a firm upward movement.

Gold prices finally broke their losing streak of last seven sessions on Tuesday. The momentum continued on Wednesday (July 2) as prices of the precious metal climbed slightly across the country. Demand for the precious metal, influenced by both international and domestic market dynamics, has gained traction as investors react to shifting trends in global currencies and tariff policy speculation in the United States.

Gold Rates in Kolkata Today

Major markets like Kolkata confirmed this upward trend movement. As of today, the gold price in Kolkata stands at Rs 9,021 per gram for 22-karat gold and Rs 9,841 per gram for 24-karat gold, often referred to as 999 purity, as per Goodreturns. This local increase mirrors broader trends seen across other major cities in India.

In the national capital, the price for gold of 99.9 per cent purity surged by Rs 1,200, reaching Rs 98,670 per 10 grams on Tuesday. The All India Sarafa Association attributed this rise to fresh buying by stockists and strong global market signals. 

On Monday, gold had ended at Rs 97,470 per 10 grams. Likewise, gold with 99.5 per cent purity climbed by Rs 1,100 to Rs 98,150 per 10 grams, compared to the previous closing of Rs 97,050.

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Global Sentiment Favouring Gold

The rebound in gold prices is partly attributed to a dip in the US dollar, prompted by mounting concerns about the US fiscal deficit. Market attention has also turned towards President Donald Trump’s proposed tax cuts and spending initiatives, which have added to the uncertainty.

“A retreat in the US dollar, driven by concerns over the ballooning US fiscal deficit and the market's focus on President Donald Trump's proposed tax-cutting and spending bill, has made gold more attractive,” said Chintan Mehta, Chief Executive Officer of Abans Financial Services.

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