Gold Rate Today In Kolkata

Following are the few best places to buy gold in Kolkata:

NBFCs: In Kolkata, using an NBFC is one of the finest ways to purchase gold. Gold is sold by NBFCs like IIFL Gold Loan, Muthoot Finance Gold Loans, and others at incredibly reasonable costs.
Satramdas Dhalamal Jewellers: One of the earliest jewellers in India is Satramdas Dhalamal Jewellers, which was established in 1880. Its bold statement pieces are the ideal marriage of ancient artistry and modern principles. They provide a broad variety of styles that are well-known across India.
Anjali Jewellers: Anjali Jewellers is a well-known name in Kolkata's jewellery industry. They are experts at creating stunning Kolkata jewellery. Their collection is largely aimed at the middle class in India, who are particularly concerned with fashion and culture.
A.Sirkar: One of Kolkata's most well-known jewellers, A.Sirkar specialises in Kolkata jewellery. They significantly altered the West Bengali jewellery business. They were one of the first companies in India to provide completely computerised jewellery. Their exquisite collection draws influence from the past while fusing it with contemporary meanings.
Kalyan Jewellers: With 135 stores nationwide, Kalyan Jewellers is one of India's most reputable jewellery businesses. Their collection is distinctive because of their comprehension of the local culture.

Continue reading to find out about the things which should definitely be kept in mind while buying gold in Kolkata:

Always Check The Weight Before Buying: In case there are studded things, it's necessary to check the weight of the gold. Make sure to ask lots of questions when you visit the jeweller. This is so because purchasing gold is unlike purchasing food. Due to its rising value, the price is exceedingly expensive. Before making a purchase, perform thorough research.
Buy Hallmarked Jewellery: Purchasing hallmarked jewellery is the safest option. The Bureau of Indian Standards' seal certifies the purity of the gold. We all are familiar that there are different purity standards of gold, including 18 karats and below, 22 karats, and 24 karats. You should avoid purchasing jewellery marked as 22 karats but really having purity lower than 22 karats. To be confident of the purity, it is advisable to get hallmarked jewellery.
Don't Forget To Request An Invoice: An invoice is required for several purposes. You would need to know the purchase price to determine the capital gains tax if you sold the same gold at a profit after a few years. In addition to this, the invoice is useful in case a disagreement occurs soon. For your records, you must have an invoice.
Negotiate The Making Fees: It is crucial to understand the production costs while purchasing gold jewellery. Negotiating and lowering the making fees is considerably more essential. Keep in mind that these fees might account for up to 30% of the price of your jewellery. It is crucial that you ask for a discount in this situation.
Check The Gold Price: It is quite tricky to foresee whether gold prices would fall. Therefore, you cannot be certain that prices would decline if you were to wait to buy. You can, however, go around to a few jewellers to see if a price reduction is possible. Prices are largely standardised, however there may be occasional exceptions. Before buying, research the price of gold in your city.

There are a lot of factors affecting the price of gold in the city of Kolkata. Few of the factors are listed below:

Global Events: Any change in the price of the yellow metal on a global scale would have an impact on its price in India. This is because India is one of the biggest gold importers, and when import prices vary as a result of changes in world pricing, the prices of gold in the nation would also be impacted.
Government Gold Reserves: The central banks of the majority of the world's major nations store both cash and gold reserves. The price of gold rises when central banks of important nations start keeping gold reserves and buying more gold.
Inflation: Due to its essentially constant nature compared to money, gold has a major value and is used to lower inflation. This is the reason why investors like holding gold over money. As a result, the demand for gold declines when inflation is low and vice versa. The high level of consumer demand will then drive up the price of gold.
Interest Rate Trends: Current gold prices may be used to anticipate interest rate trends in any nation. Interest rates on financial products and services have a strong correlation with gold demand. When interest rates rise, customers frequently sell gold to get cash, which increases the metal's availability and lowers its price.
Jewellery Market: Whether it's for a party or a birthday, Indians enjoy their gold jewellery. Due to rising consumer demand throughout the wedding season and on holidays like Diwali, gold prices climb. The mismatch between supply and demand causes prices to increase. Gold is sought for uses other than jewellery.