Gold Prices Climb In Kolkata On July 14; 22K Gold Over Rs 9,100 Per Gram

Gold prices in Kolkata recorded an upward movement on July 14, reflecting broader trends in both domestic and international markets. In the city, 22-karat gold was priced at Rs 9,155 per gram, while 24-karat gold—also known as 999 gold—stood at Rs 9,988 per gram.

Kolkata's prices mirror those seen in several other metros, where gold demand typically remains strong owing to cultural affinity, investment interest, and seasonal buying patterns. India continues to rank as the second-largest gold consumer globally, trailing only China. The majority of this demand is met through imports, with recycled gold forming only a minor share of total supply.

Exchange Rates and Domestic Taxes Shape Price Trends

Although international gold prices, quoted in US dollars, play a pivotal role in shaping local rates, several domestic factors also exert considerable influence. The exchange rate between the rupee and the dollar remains one of the key variables in this equation. A weakening rupee typically leads to higher import costs, pushing gold prices up for Indian buyers.

Further, central and state-level taxation, including import duties, the Goods and Services Tax (GST), and regional levies, significantly affect the final price at which consumers purchase gold. These layers of taxation are particularly relevant for retail buyers, who often absorb these additional costs.

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Gold Prices Across Major Indian Cities

Across India, gold rates as on July 14 show minor regional variations. In Delhi and Lucknow, 22K gold was priced at Rs 9,170 per gram, with 24K gold at Rs 10,003 per gram. Rates in Mumbai, Bengaluru, Chennai, Hyderabad, and Pune matched Kolkata’s prices, standing at Rs 9,155 for 22K and Rs 9,988 for 24K. Meanwhile, Ahmedabad and Indore recorded slightly higher rates of Rs 9,160 (22K) and Rs 9,993 (24K).

Gold’s enduring appeal as a safe-haven asset ensures continued demand, especially during times of financial volatility or inflationary pressure. However, its pricing also responds to shifts in global bond yields, monetary policy signals, and macroeconomic conditions. Investors and jewellers alike will continue watching for changes in these variables as the festive and wedding season approaches.

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