Precious metal prices are on a sharp rise in Kolkata and across Bengal, even as the stock market struggles to find momentum. On Monday, the retail price of silver in the city and state touched ₹2,96,150 per kilogram, climbing ₹18,050 in just a single day. The momentum continued on Tuesday, with both gold and silver seeing further significant gains.
Also Read | Mangalam Worldwide shares surge despite weak market as quarterly profit jumps 74%
Gold prices surge in Bengal
According to the West Bengal Bullion Merchant and Jewellers Association, the prices of gold in Kolkata on Tuesday, January 20 -
24-carat gold bar: ₹1,47,550 per 10 grams
24-carat gold bar (retail): ₹1,48,250 per 10 grams
22-carat hallmark jewellery gold: ₹1,40,950 per 10 grams
On this day, the price of hallmark jewellery gold increased by ₹3,000 per 10 grams, while the 24-carat gold bars rose by ₹3,100 per 10 grams, reflecting a continuing upward trend in precious metal prices.
Silver prices cross ₹3 Lakh
Silver also witnessed a massive jump. In the international market, silver prices had crossed ₹3 lakh on Monday itself. Following this, retail silver prices in Kolkata surpassed ₹3 lakh on Tuesday, reaching ₹314,200 per kilogram, an increase of ₹18,050 from Monday’s ₹296,150 per kilogram.
Also Read | Defence stock Zen Technologies surges after bagging new anti-drone systems contract from MoD
The surge in physical gold and silver prices also influenced the stock market, with gold and silver ETFs witnessing significant gains. As physical metal prices climbed, the corresponding ETFs mirrored the increase, reflecting investor interest in precious metals during market volatility.
