The precious metal market of India witnessed a steady upward trend since the beginning of the new year. Which continued through the first three days of this week, pushing both gold and silver to record levels. This surge had raised concerns among middle-class Bengalis, especially ahead of the upcoming wedding season in the Magh–Falgun. However, prices saw a sharp correction on Thursday.
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Significant drop in gold and silver prices in Kolkata
On Thursday, gold prices in the Kolkata market dropped significantly. The price of 24-carat pure gold fell by ₹ 3,600 per 10 grams, while 22-carat jewellery gold declined by ₹ 3,450 per 10 grams. Silver prices also recorded a steep fall, dropping by ₹ 13,550 per kilogram.
Kolkata bullion rates on Thursday (excluding tax)
24-carat pure gold bar: ₹ 1,51,750 per 10 grams
24-carat pure gold bar (retail): ₹ 1,52,500 per 10 grams
22-carat hallmark jewellery gold: ₹ 1,44,950 per 10 grams
Silver (retail): ₹ 3,06,500 per kilogram
(According to WBBMJA)
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Additional costs for buyers
Regular buyers won't be able to buy gold at these rates when you go to the market. It will cost somewhat more than these rates. This is because GST and jewellery-making charges will be added to these rates. While GST is fixed at 3 per cent, these charges may vary from shop to shop.
{News Ei Samay does not provide investment advice anywhere. Investment and trading in the share market or any field involve risk. Proper study and expert advice are recommended beforehand. This news is published for educational and awareness purposes.}
