In September, gold prices experienced significant fluctuations, with a notable increase of Rs 2,160 from September 20 to September 27, followed by minor declines towards the end of the month. While prices fell further on October 1, they rebounded on October 3
As of October 1, gold prices in Kolkata have soared to a historic peak. The price for one sovereign (8 grams) of gold has jumped by Rs 80, bringing it to Rs 56,880. This remarkable surge is part of a broader trend that has seen gold prices rising in tandem with international market fluctuations.
Further Durga Puja is round the corner and people traditionally buy Gold during festivals. As Kolkata gears up for the upcoming Durga Puja, residents started spending in Gold driving prices further high.
Recent geopolitical tensions have been pivotal in driving up gold prices. Factors such as unrest in the Middle East and economic stimulus measures from China have spurred increased demand for gold, traditionally viewed as a safe haven investment. Although there was a slight decline last Friday, where gold prices fell by approximately Rs 400, they rebounded significantly on October 2.
In detail, the price for one gram of 22-carat gold rose by Rs 10, reaching Rs 7,110 today. Meanwhile, 24-carat gold is priced at Rs 7,756 per gram, and 18-carat gold stands at Rs 5,817 per gram. Notably, silver prices have remained stable at Rs 101 per gram.
Recent Gold Price Trends in Kolkata:
September 16: Increased by Rs 120 to Rs 55,040.
September 17: Decreased by Rs 120 to Rs 54,920.
September 18: Fell further by Rs 120 to Rs 54,800.
September 19: Dropped by Rs 200, settling at Rs 54,600.
September 20: A notable surge of Rs 480 to Rs 55,080.
September 21: Increased by Rs 600, reaching Rs 55,680.
September 22: Prices remained unchanged.
September 23: Increased by Rs 160 to Rs 55,840.
September 24: Another rise of Rs 160 brings the price to Rs 56,000.
September 25: A Rs 60 surge makes the price of 8 grams Rs 56,480.
September 26: No change in price.
September 27: Prices rose by Rs 40 per gram, bringing the price of 8 grams to Rs 56,800.
September 28: A slight drop of Rs 5 per gram, leaving the price at Rs 56,760.
September 29: Prices remained steady.
September 30: A decrease of Rs 15 per gram was observed.
October 1: Further decline of Rs 40 per gram, resulting in a price of Rs 56,400 for 8 grams.
October 2: The price rose by Rs 400, with 8 grams priced at Rs 56,800.
October 3: The price increased by Rs 80, now standing at Rs 56,880.
The ongoing volatility in gold prices reflects both local and global economic conditions, making it essential for buyers to stay informed about market trends