Gold Prices In Kolkata Tick Up On July 5; Domestic Trends Remain Positive

Kolkata saw a modest rise in gold prices on Saturday, reflecting a broader recovery pattern in major Indian cities after a sharp correction in the previous trading session. The price of 22-carat gold in the city now stands at Rs 9,060 per gram, while 24-carat gold is priced at Rs 9,883 per gram.

This slight upward shift was consistent with movements observed in cities like Mumbai, Chennai, Hyderabad, Bengaluru, and Pune, where gold rates matched Kolkata’s figures for both carat variants. Market participants, including jewellers and retail investors, continue to keep a close watch on price shifts amid ongoing global uncertainties and currency movements.

Sharp Drop on Friday Before Weekend Recovery

Saturday’s mild recovery followed a notable decline in the previous session. In Delhi, 99.9 per cent pure gold registered a drop of Rs 600, settling at Rs 99,020 per 10 grams from Rs 99,620 on Thursday, as per the All India Sarafa Association. Gold of 99.5 per cent purity also saw a dip of Rs 500, ending at Rs 98,500 compared to its earlier rate of Rs 99,000.

Silver prices mirrored this downward trend, falling by Rs 1,000 to Rs 1,04,800 per kilogram from the previous Rs 1,05,800, inclusive of taxes. Analysts attributed the decline in bullion prices to a strengthening US dollar and rising treasury yields, which were fuelled by stronger-than-expected economic data from the United States.

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Global and Domestic Factors Behind Price Movement

India retains its position as the world’s second-largest consumer of gold, following China. Most of the domestic demand is met through imports, while recycled gold accounts for a smaller share. As gold is traded globally in US dollars, movements in the greenback’s value can have a direct influence on gold pricing within India.

On the domestic front, import duties, GST, and other state-level levies are additional determinants of retail gold rates across Indian cities, including Kolkata. Despite periodic corrections, the broader trend of rising prices in both 22K and 24K segments underscores gold’s role as a safe-haven asset, particularly during times of inflation and financial instability.

Investors and buyers in Kolkata are expected to maintain steady interest in bullion in the near term, with global cues and macroeconomic indicators continuing to influence the trajectory of gold prices across the country.

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