Gold Rate in Kolkata

Investing in gold is one of the best ways to offset your risk during inflation. This is because when the living costs increase, the gold rate in Kolkata and other cities of the nation increase too. However, the gold price in Kolkata is marginally less than in other states/cities.

This is primarily because it is a port city because of which importing gold is easier and cheaper, reducing the final gold cost. Nonetheless, knowing the live rates is crucial to making an informed investment. 

Here is today’s gold rate in Kolkata and a handy guide to making smart gold investments.

Gold price in Kolkata with fluctuations in the last few days, is shown below:

Gold price in Kolkata with fluctuations in the last few days, is shown below:

Before you invest in gold, knowing the current gold rate in Kolkata and the estimated cost of how much you want to invest is a good idea. This is because it can help you assess whether the investment is affordable or not. 

To use a gold rate calculator, you need to know how much you want to purchase, the city/state you want to purchase in, and the purity of gold you want. Based on these factors, you can get an estimate. Here is an easy gold rate calculator you can use. 

As mentioned above, today’s gold rate in Kolkata, 22 karat or any other karat, may be slightly less than that of other cities/states. While the lower gold rate in Kolkata is a great reason for investing, there are other reasons that make gold investment a great choice. 

One of the top reasons why gold is a great investment option is the security it offers during rising inflation. Moreover, gold offers great security in uncertain times including geopolitical uncertainty. As a novice investor, you can choose any of the following gold investment options:

• Jewellery and other physical forms (coins, bars, biscuits)

• Mutual funds in the form of ETFs (exchange-traded-funds)

• Bonds and derivatives (SGBs and other gold derivatives)

Regardless of the option you choose, make sure that it aligns with your investment goals. If you want 24k gold, you should choose coins, bars, or biscuits. Jewellery is often the best option if you want it as a gift. 

Given that gold prices are soaring, investing in it is a huge financial decision. As such, it is crucial that you look at other factors and not just the gold price today in Kolkata or any other state. 

By being thorough and careful in your investment, you can ensure that you grow your wealth and also keep it secure. Here are few point you should remember other than the gold price in Kolkata:

• Get the invoice receipt to ensure that you can easily sell/ exchange the gold in the future

• Check for the hallmark to ensure authenticity

• Review the making charges to buy gold jewellery at the best price

• Assess the current trend to buy at the most opportune time

• Check if the weight of the gold is accurate and as mentioned on the bill

The government levies different taxes and duties on different goods and services. While earlier VAT, service, excise, and other taxes were levied, the GoI introduced GST in 2010. GST (Goods and Service Tax) was launched to simplify the taxation process by eliminating the need for VAT and other taxes. 

Currently, 3% GST is levied on the value of the gold and 5% GST is levied on the making charges. It is important to understand the impact of taxes because they are added to the final gold price in Kolkata and other cities of the nation.

Given below is a table to help you understand how the taxes have changed on gold.

The net taxes levied under GST are higher than the previous, which is why you may find that the gold rate in Kolkata and other cities have increased too. So, be sure to check the gold price today in Kolkata for 22 carat or any other carat you intend to buy.