Gold rates in West Bengal
24K Gold / 10gm
05th Jan '24
₹69,000.00
-260.00 (0.39%)
24K Gold / 10gm
05th Jan '24
₹69,000.00
-260.00 (0.39%)
24K Gold / 10gm
05th Jan '24
₹69,000.00
-260.00 (0.39%)
24K Gold / 10gm
05th Jan '24
₹69,000.00
-260.00 (0.39%)
22K Gold / 10gm
05th Jan '24
₹69,000.00
-260.00 (0.39%)
22K Gold / 10gm
05th Jan '24
₹69,000.00
-260.00 (0.39%)
22K Gold / 10gm
05th Jan '24
₹69,000.00
-260.00 (0.39%)
22K Gold / 10gm
05th Jan '24
₹69,000.00
-260.00 (0.39%)
The Gold Rate West Bengal page offers detailed and up-to-date information on gold prices, accurately reflecting current market trends.
If you're wondering about the variety of gold options in the market, there are indeed several types, classified based on quality.
While more than five varieties are available, three types particularly stand out in terms of consumer preference: 24 Carat gold, 22 Carat gold, and 18 Carat gold.
These varieties are not only different in terms of purity but also vary in price and demand.
Understanding the nuances of each type, including how their prices are determined and their popularity in the market, can offer valuable insights for both investors and consumers.
Let’s delve into the details of their pricing, the factors driving their demand, and the methods used for their valuation in the market.
The Gold Rate West Bengal page offers detailed and up-to-date information on gold prices, accurately reflecting current market trends.
If you're wondering about the variety of gold options in the market, there are indeed several types, classified based on quality.
While more than five varieties are available, three types particularly stand out in terms of consumer preference: 24 Carat gold, 22 Carat gold, and 18 Carat gold.
These varieties are not only different in terms of purity but also vary in price and demand.
Understanding the nuances of each type, including how their prices are determined and their popularity in the market, can offer valuable insights for both investors and consumers.
Let’s delve into the details of their pricing, the factors driving their demand, and the methods used for their valuation in the market.
24K Gold Rates Per Gram in West Bengal
Grams
Today
Yesterday
02 years
₹15,000
₹4.1 Lakhs
05 years
₹15,000
₹12.4 Lakhs
10 years
₹15,000
₹34.9 Lakhs
15 years
₹15,000
₹75.7 Lakhs
22K Gold Rates Per Gram in West Bengal
24K Gold Rates Per Gram in West Bengal
Grams
Today
Yesterday
1 Gram
₹15,000
₹4.1 Lakhs
₹15,000
8 Gram
₹15,000
₹12.4 Lakhs
₹15,000
10 Gram
₹15,000
₹34.9 Lakhs
₹15,000
12 Gram (1 Tola)
₹15,000
₹75.7 Lakhs
₹15,000
22K Gold Rates Per Gram in West Bengal
Grams
Today
Yesterday
1 Gram
₹15,000.00
₹15,000.00
8 Gram
₹15,000
₹15,000.00
10 Gram
₹15,000
₹15,000.00
12 Gram (1 Tola)
₹15,000
₹15,000.00
Factors Affecting Gold Rates in West Bengal
Determinants of Gold Prices in West Bengal
Several key factors influence the price of gold in West Bengal:
Central Bank Gold Reserves:
The Reserve Bank of India (RBI) holds gold as a key asset for supporting the national currency. When the RBI buys or exports more gold, there tends to be an increase in gold prices across India, including in West Bengal.
U.S. Dollar Strength:
The gold price often inversely correlates with the U.S. dollar value. An increase in the dollar's value typically leads to a decrease in gold prices, and vice versa. Additionally, when the Indian rupee weakens against the dollar, gold prices may decrease, as the U.S. dollar heavily influences gold pricing, which is then converted into Indian rupees.
Demand for Gold:
Gold prices in India, including West Bengal, generally rise with increased demand. This demand can come from households, industry, and investors.
Gold Mining Capacity:
The operational costs of gold mining companies affect gold prices. For example, if these companies face higher production costs, gold prices may rise accordingly.
Gold Price Discovery:
The London Bullion Market Association (LMBA) sets gold prices twice daily, which are globally recognized. In India, the Indian Bullion Jewellers Association (IBJA) determines gold prices based on global rates, currency exchange rates, import duties, and other taxes.
Determinants of Gold Prices in West Bengal
Several key factors influence the price of gold in West Bengal:
Central Bank Gold Reserves:
The Reserve Bank of India (RBI) holds gold as a key asset for supporting the national currency. When the RBI buys or exports more gold, there tends to be an increase in gold prices across India, including in West Bengal.
U.S. Dollar Strength:
The gold price often inversely correlates with the U.S. dollar value. An increase in the dollar's value typically leads to a decrease in gold prices, and vice versa. Additionally, when the Indian rupee weakens against the dollar, gold prices may decrease, as the U.S. dollar heavily influences gold pricing, which is then converted into Indian rupees.
Demand for Gold:
Gold prices in India, including West Bengal, generally rise with increased demand. This demand can come from households, industry, and investors.
Gold Mining Capacity:
The operational costs of gold mining companies affect gold prices. For example, if these companies face higher production costs, gold prices may rise accordingly.
Gold Price Discovery:
The London Bullion Market Association (LMBA) sets gold prices twice daily, which are globally recognized. In India, the Indian Bullion Jewellers Association (IBJA) determines gold prices based on global rates, currency exchange rates, import duties, and other taxes.
Historical Gold Rates in India for the Last 10 Days
DAY
22K Gold
24K Gold
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
Historical Gold Rates in India for the Last 10 Days
DAY
22K Gold
24K Gold
31 Dec 2023
₹63,305.00
0.00%
₹63,305.00
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305.90
0.00%
₹63,305.00
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
How is the purity of gold calculated in West Bengal?
Evaluation of Gold Purity and Rates in West Bengal
In West Bengal, the process of determining gold rates and purity is aligned with the standards prescribed by the Indian Bullion Association. Gold dealers in the state are mandated to hallmark their products, which confirms the accuracy of the gold's purity.
The gold prices in West Bengal are also affected by international market trends. With India's modest role in global gold mining, the direct impact of international market changes on West Bengal's gold prices is somewhat moderated.
Nonetheless, global market dynamics, including various international events and trends, hold significant importance in the gold market. These global influences considerably affect the buying power of gold importers and the general populace in West Bengal, as well as in other parts of India.
Evaluation of Gold Purity and Rates in West Bengal
In West Bengal, the process of determining gold rates and purity is aligned with the standards prescribed by the Indian Bullion Association. Gold dealers in the state are mandated to hallmark their products, which confirms the accuracy of the gold's purity.
The gold prices in West Bengal are also affected by international market trends. With India's modest role in global gold mining, the direct impact of international market changes on West Bengal's gold prices is somewhat moderated.
Nonetheless, global market dynamics, including various international events and trends, hold significant importance in the gold market. These global influences considerably affect the buying power of gold importers and the general populace in West Bengal, as well as in other parts of India.
Necessary Documentation for Gold Investment in West Bengal
Documentation Needed for Gold Investment in Madhya Pradesh
Physical Gold Transactions:
No specific documentation, brokerage, or Demat account is needed to purchase physical gold. However, it's important to retain the purchase receipt and BIS certification for your records.
Investing More Than Rs. 2 Lakhs:
For gold investments exceeding Rs. 2 lakhs, such as in jewelry, coins, or bars at the current 22-carat gold rate, you are required to present a PAN Card and an official ID with your name and address, like a Voter ID, Passport, or Aadhar Card.
Investment in Exchange-Traded Funds (ETFs):
To invest in gold ETFs, opening both a brokerage account and a Demat account is mandatory with the provider of these ETFs.
Sovereign Gold Bonds (SGBs) and Digital Gold:
These investment forms usually involve minimal paperwork and do not require a Demat account.
Gold Mutual Funds:
For investing in mutual funds that focus on gold, setting up a brokerage and a Demat account is necessary.
Documentation Needed for Gold Investment in Madhya Pradesh
Physical Gold Transactions:
No specific documentation, brokerage, or Demat account is needed to purchase physical gold. However, it's important to retain the purchase receipt and BIS certification for your records.
Investing More Than Rs. 2 Lakhs:
For gold investments exceeding Rs. 2 lakhs, such as in jewelry, coins, or bars at the current 22-carat gold rate, you are required to present a PAN Card and an official ID with your name and address, like a Voter ID, Passport, or Aadhar Card.
Investment in Exchange-Traded Funds (ETFs):
To invest in gold ETFs, opening both a brokerage account and a Demat account is mandatory with the provider of these ETFs.
Sovereign Gold Bonds (SGBs) and Digital Gold:
These investment forms usually involve minimal paperwork and do not require a Demat account.
Gold Mutual Funds:
For investing in mutual funds that focus on gold, setting up a brokerage and a Demat account is necessary.
Gold Rates in Top cities
CITY
22K Gold
24K Gold
Delhi
₹65,000
0.00%
₹65,000
0.00%
Kolkata
₹65,000
0.00%
₹65,000
0.00%
Mumbai
₹65,000
0.00%
₹65,000
0.00%
Chennai
₹65,000
0.00%
₹65,000
0.00%
Jaipur
₹65,000
0.00%
₹65,000
0.00%
Key Factors to Consider When Purchasing Gold in West Bengal
Essential Tips for Purchasing Gold Jewelry in West Bengal
West Bengal is renowned for its exquisite gold jewelry. If you're considering purchasing gold here, especially given the current gold rates in West Bengal, these tips will prove invaluable:
Understanding Gold Price Calculations:
Be mindful that jewelers, both prominent and local, tend to quote a higher price per karat. For instance, if the rate for 24K gold is ₹3,000 per gram, the price for 22K should be calculated as 22K/24K*₹3,000 = ₹2,750. However, jewelers often add a markup of 5-8 percent, so it's crucial to understand these calculations to avoid overpaying.
Paying for Gold Accurately:
Be cautious when buying gold pieces with embedded colored stones, pearls, or artificial diamonds. Ensure these additional elements are not included in the gold weight pricing.
The Reality of Karat Claims:
While jewelers might charge for 22K gold, the actual purity might historically have been closer to 18K. However, this has significantly reduced due to the push for hallmarking. Always opt for hallmarked jewelry to ensure purity.
Making Charges:
Jewelers typically charge about 15-20 percent of the gold price as making charges (around ₹400–500 per gram). In reality, their costs might be as low as ₹200 per gram.
Yellow, Rose, and White Gold Pricing:
Don't pay a premium for white or rose gold. The color difference is due to the addition of alloys, not a change in the gold's inherent value.
Buy Back Policies:
Inquire about the jeweler's return policy. Some operate on a 99:1 policy, assuming most buyers won’t return to sell their jewelry. Ensure you understand their buyback terms clearly.
Mastering these aspects can ensure a fair deal when buying gold in West Bengal. Remember, a seller's primary aim is to profit, so it's crucial to be well-informed.
Essential Tips for Purchasing Gold Jewelry in West Bengal
West Bengal is renowned for its exquisite gold jewelry. If you're considering purchasing gold here, especially given the current gold rates in West Bengal, these tips will prove invaluable:
Understanding Gold Price Calculations:
Be mindful that jewelers, both prominent and local, tend to quote a higher price per karat. For instance, if the rate for 24K gold is ₹3,000 per gram, the price for 22K should be calculated as 22K/24K*₹3,000 = ₹2,750. However, jewelers often add a markup of 5-8 percent, so it's crucial to understand these calculations to avoid overpaying.
Paying for Gold Accurately:
Be cautious when buying gold pieces with embedded colored stones, pearls, or artificial diamonds. Ensure these additional elements are not included in the gold weight pricing.
The Reality of Karat Claims:
While jewelers might charge for 22K gold, the actual purity might historically have been closer to 18K. However, this has significantly reduced due to the push for hallmarking. Always opt for hallmarked jewelry to ensure purity.
Making Charges:
Jewelers typically charge about 15-20 percent of the gold price as making charges (around ₹400–500 per gram). In reality, their costs might be as low as ₹200 per gram.
Yellow, Rose, and White Gold Pricing:
Don't pay a premium for white or rose gold. The color difference is due to the addition of alloys, not a change in the gold's inherent value.
Buy Back Policies:
Inquire about the jeweler's return policy. Some operate on a 99:1 policy, assuming most buyers won’t return to sell their jewelry. Ensure you understand their buyback terms clearly.
Mastering these aspects can ensure a fair deal when buying gold in West Bengal. Remember, a seller's primary aim is to profit, so it's crucial to be well-informed.
FAQs on Gold Rates in West Bengal
Where can I check the latest live gold price in West Bengal?
The most up-to-date live gold prices in West Bengal can be found on financial news websites, through dedicated gold price tracking apps, and at reputable local jewelers.
What causes fluctuations in the live gold price in West Bengal?
Fluctuations in gold prices in West Bengal are primarily due to global market trends, currency exchange rates, and regional demand and supply dynamics.
Do gold prices in West Bengal vary significantly during festive seasons?
Yes, gold prices in West Bengal often rise during festive seasons and weddings due to increased demand.
How do international market trends affect the gold prices in West Bengal?
International market trends, including shifts in global demand and changes in the value of major currencies, play a significant role in determining gold prices in West Bengal.
Are the gold prices updated frequently throughout the day in West Bengal?
Yes, gold prices in West Bengal are frequently updated to reflect the latest market conditions and trends.
Where can I check the latest live gold price in West Bengal?
The most up-to-date live gold prices in West Bengal can be found on financial news websites, through dedicated gold price tracking apps, and at reputable local jewelers.
What causes fluctuations in the live gold price in West Bengal?
Fluctuations in gold prices in West Bengal are primarily due to global market trends, currency exchange rates, and regional demand and supply dynamics.
Do gold prices in West Bengal vary significantly during festive seasons?
Yes, gold prices in West Bengal often rise during festive seasons and weddings due to increased demand.
How do international market trends affect the gold prices in West Bengal?
International market trends, including shifts in global demand and changes in the value of major currencies, play a significant role in determining gold prices in West Bengal.
Are the gold prices updated frequently throughout the day in West Bengal?
Yes, gold prices in West Bengal are frequently updated to reflect the latest market conditions and trends.
Gold Rates in Top cities
City
22k Gold
24k Gold
Delhi
₹15,000.00
₹15,000.00
₹15,000.00
₹15,000.00
Kolkota
₹15,000
₹15,000.00
₹15,000.00
Mumbai
₹15,000
₹15,000.00
Chennai
₹15,000
₹15,000.00
Jaipur
₹15,000
₹15,000.00
Author
Harish Malhi
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