India has the largest gold market, and has a high demand for gold in every culture in different forms. This article is the study of gold rate in West Bengal and factors that impact 22 carat and 24 carat gold.
However, many reasons affect the today gold rate in West Bengal because of which gold prices are seen to fluctuate.
Be it as a sign of good luck, prosperity or a channel to begin something new, gold has been an integral part of Indian culture since centuries.
The state of West Bengal has large demand for gold to mark a beginning of a new festival or for idols and sculptures.
Socio-economic and international policies that lead to changes in gold rates are discussed in this write up. We hope that it gives you a better outlook on the gold rate in West Bengal live.
22 Carat Gold Rate in West Bengal – Gold Price in West Bengal Today
Also, Check out the Silver Rate in West Bengal Today
22 carat gold is basically 22 parts of gold mixed with 2 parts of other metal like nickel, zinc or silver. Sculptures and all types of jewellery are made of 22 carat gold.
The table below gives gold price in West Bengal today and yesterday, alongside the percentage change between the two. For more details on 22 carat gold rate in West Bengal, take a note on the section below.
24 Carat Gold Rate in Bengal Today – Gold Price in West Bengal
24 carat or pure gold contains 100% elements of gold, and is sued to make medical and electronic devices.
We have complied data on 24 carat gold rate in WB today. You can compare yesterday and today’s pure gold price in West Bengal from the table given below.
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|West Bengal Gold Investment Calculator||Gold Rate Calculator of West Bengal|
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Gold Price in West Bengal for Last 15 Days
For drawing investment related conclusions, it is important to analyse past data and introspect. The volume of buyers and sellers can also help predict future prices of an asset.
For a better understanding of prices and fluctuation, information on gold price in West Bengal for the last 15 days is collated below.
Find Gold Rates of other Indian Cities & States
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|Gold Rate in Mangalore||Gold Rate in Ranchi||Gold Rate in Amritsar||Gold Rate in Kakinada|
|Gold Rate in Meerut||Gold Rate in Vijayawada||Gold Rate in Nellore||Gold Rate in Lucknow|
Graph of Gold Rate Today in West Bengal – Also Past Gold Price in West Bengal
For the benefit of the reader, we have set up a graph on information related to present day gold rate in West Bengal. To know about timely movement of gold rate in West Bengal refer the below section.
Gold Price in West Bengal – Past 6 Months Price
Gold rate in West Bengal for the past 6 months is provided in this section so that gold rate trends can be easily understood. For details on the price fluctuations from December 2019 to May 2020, refer to the below section.
July 2020, Gold Rate Movement in West Bengal
|Gold Rates in July 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-07-2020||₹ 4,674||₹ 5,095|
|08-07-2020||₹ 4,678||₹ 5,099|
|15-07-2020||₹ 4,713||₹ 5,129|
|22-07-2020||₹ 4,785||₹ 5,220|
|31-07-2020||₹ 5,125||₹ 5,582|
|Highest Rate in July||₹ 5,125||₹ 5,582|
|Lowest Rate in July||₹ 4,610||₹ 5,062|
Aiming for long terms investments or even the short term ones, being well informed about the Gold Rate in West Bengal is the way to excel. You can make hefty returns if you are well read and create likewise strategies for the same, and then make you investment accordingly.
- Track the rates of Gold, and see the highest and the lowest rates of the metal from the table. We also provide the change which happened along the entire month.
- As you can see in the table, the change in the price level was as much as 11.17% and 10.27% for 22 and 24 carat gold categories.
- Both the percentage changes were quite a noticeable change witnessed across the entire month.
- We discovered that the highest of the 22 carat gold rate was Rs.5125 and the same for 24 carat gold was Rs.5582.
- Contrarily, the lowest of 22 carat gold rate was Rs.4610 and the same for 24 carat gold rate was Rs.5062.
June 2020, Gold Rate Movement in West Bengal
|Gold Rates in June 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-06-2020||₹ 4,581||₹ 4,731|
|08-06-2020||₹ 4,561||₹ 4,711|
|15-06-2020||₹ 4,681||₹ 4,810|
|22-06-2020||₹ 4,738||₹ 4,867|
|30-06-2020||₹ 4,767||₹ 4,894|
|Highest Rate in June||₹ 4,774||₹ 4,903|
|Lowest Rate in June||₹ 4,560||₹ 4,709|
This section serves to grant you a glimpse into the fluctuating gold rates in West Bengal. It concerns mainly with the data collected throughout the month of June 2020. So, let’s just discuss what we learned without any further ado:
- Before we move on to tell you all about our learning there’s a few things you must understand. We’ve presented the accumulated data within a table which show the data collected from 5 different days throughout June 2020.
- The lowest 22 carat price determined throughout June 2020 was worth Rs. 4,560. This was recorded during the 2nd week of the month. However, the segment’s highest reach was achieved during the transition from 4th to 5th It was recorded at its highest at Rs. 4,774.
- The lowest 24 carat gold price was determined to be Rs. 4,709. The highest price for the segment was worth Rs. 4,903 nonetheless.
- The rates for both the segments succumbed from moderate to low in the 2nd Although, they again reached a high note by the end of the month!
- Both segments performed marginally well. The 22 carat gold segment performed at 4.69%. However, the 24 carat segment did a 4.12% worth performance.
May 2020, Gold Rates in West Bengal
|Gold Rates in May 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-05-2020||₹ 4,530||₹ 4,716|
|08-05-2020||₹ 4,473||₹ 4,649|
|15-05-2020||₹ 4,541||₹ 4,730|
|22-05-2020||₹ 4,606||₹ 4,801|
|31-05-2020||₹ 4,561||₹ 4,712|
|Highest Rate in May||₹ 4,681||₹ 4,844|
|Lowest Rate in May||₹ 4,456||₹ 4,633|
The table below is a synopsis for the gold rates in West Bengal for the month of May. Important details on 22 carat and 24 carat gold for this month is mentioned in the below points.
- Change in prices on different days of the weeks in May is given in the table.
- The highest price on the record for this month is Rs.4,681 for 22 carat gold and Rs.4,844 for 24 carat gold.
- Similarly, the lowest price on the record is Rs.4,456 for 22 carat gold and 4,633 for 24 carat gold.
- The gold rates are seen to increase during the end of the month.
- The overall percentage change for the gold rate in West Bengal per gram is approximately 5.05% for 22 carat and 4.55% for 24 carat gold.
April 2020, Gold Rate Movement in Bengal
|Gold Rates in Apr 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-04-2020||₹ 4,064||₹ 4,266|
|08-04-2020||₹ 4,125||₹ 4,393|
|15-04-2020||₹ 4,197||₹ 4,473|
|22-04-2020||₹ 4,123||₹ 4,405|
|30-04-2020||₹ 4,505||₹ 4,706|
|Highest Rate in Apr||₹ 4,575||₹ 4,801|
|Lowest Rate in Apr||₹ 4,064||₹ 4,266|
For the readers understanding, data for the month of April on the gold rate movement in Bengal is compiled below. A draft on gold rates for 22 carat and 24 carat gold is jotted below.
- For 22 carat gold, the highest price is Rs.4,575 and the lowest price is Rs.4,064.
- For 24 carat gold, the highest price is Rs.4,801 and the lowest price is Rs.4,266.
- Month end shows price rise in both the categories.
- The percentage change for both the categories in the gold rate in West Bengal per gram from the beginning of the month until the end is 12.57% and 12.54%.
- This month showed an upward trend in gold prices in the country.
March 2020, Gold Rate Movement in West Bengal
|Gold Rates in Mar 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-03-2020||₹ 4,099||₹ 4,304|
|08-03-2020||₹ 4,368||₹ 4,586|
|15-03-2020||₹ 4,253||₹ 4,461|
|22-03-2020||₹ 4,023||₹ 4,218|
|30-03-2020||₹ 4,063||₹ 4,266|
|Highest Rate in Mar||₹ 4,368||₹ 4,586|
|Lowest Rate in Mar||₹ 3,966||₹ 4,162|
Change in the gold price movement in West Bengal for the month of March is summed up in this section. The fluctuation of prices and key take away points are mentioned below.
- The prices show an increase in the beginning of the month and after reaching a peak, fall around the end of the month
- The highest price on the record for this month is Rs.4,368 for 22 carat gold and Rs.4,586 for 24 carat gold.
- Similarly, the lowest price on the record is Rs.3,966 for 22 carat gold and Rs.4,162 for 24 carat gold.
- The comparative change in percentage of the gold price in West Bengal per gram is 10.14% and 10.19% for each of the category.
- Information on weekly price change is given in the table.
February 2020, Gold Price Movement in West Bengal
|Gold Rates in Feb 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-02-2020||₹ 4,005||₹ 4,202|
|08-02-2020||₹ 3,964||₹ 4,163|
|15-02-2020||₹ 4,016||₹ 4,214|
|22-02-2020||₹ 4,163||₹ 4,365|
|29-02-2020||₹ 4,171||₹ 4,378|
|Highest Rate in Feb||₹ 4,227||₹ 4,438|
|Lowest Rate in Feb||₹ 3,964||₹ 4,163|
Have a brief look on 22 carat gold rate in West Bengal and the changes that it underwent during different weeks during the month. Noteworthy changes are pointed for your reference.
- The below information show gold rate fluctuation for the month of February.
- The highest price on the record for this month is Rs.4,227 for 22 carat gold and Rs.4,438 for 24 carat gold.
- Similarly, the lowest price on the record is Rs.3,964 for 22 carat gold and Rs.4,163 for 24 carat gold.
- The overall percentage change in the gold rate in West Bengal is 6.63% and 6.61% for 22 carat and 24 carat respectively.
- Prices have increased by the end of the month.
January 2020, Gold Price Movement in Bengal
|Gold Rates in Jan 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-01-2020||₹ 3,838||₹ 4,030|
|08-01-2020||₹ 3,978||₹ 4,182|
|15-01-2020||₹ 3,885||₹ 4,081|
|22-01-2020||₹ 3,961||₹ 4,158|
|30-01-2020||₹ 3,963||₹ 4,165|
|Highest Rate in Jan||₹ 4,052||₹ 4,259|
|Lowest Rate in Jan||₹ 3,838||₹ 4,030|
This column gives detailed information on gold price in West Bengal for the month of January. You can get all the necessary details on 22 carat gold price in Bengal and 24 carat gold rates as well.
- Price change frequency is drafted in a lucid way.
- The highest point for January is Rs.4,052 for 22 carat gold and Rs.4,259 for 24 carat gold.
- Lowest point touched is Rs.3,838 and Rs.4,030 for 22 and 24 carat gold respectively.
- The price rise in January is eventual and steady.
- The overall change in comparison to February is 5.58% and 5.68% for each of the category.
December 2019, Gold Rate Movement in West Bengal
|Gold Rates in Dec 2019||22 Ct Gold Rate||24 Ct Gold Rate|
|01-12-2019||₹ 3,768||₹ 3,956|
|08-12-2019||₹ 3,725||₹ 3,906|
|15-12-2019||₹ 3,707||₹ 3,887|
|22-12-2019||₹ 3,750||₹ 3,940|
|30-12-2019||₹ 3,843||₹ 4,034|
|Highest Rate in Dec||₹ 3,843||₹ 4,035|
|Lowest Rate in Dec||₹ 3,704||₹ 3,887|
Last year’s data for the month of December shows significant changes for 22 and 24 carat gold rate in West Bengal. We hope this statistics will help you for your study.
- The volatility of the prices in this month is lesser compared to 2020.
- The highest price on the record for this month is Rs.3,843 for 22 carat gold and Rs.4,035 for 24 carat gold.
- Similarly, the lowest price on the record is Rs.3,704 for 22 carat gold and Rs.3,887 for 24 carat gold.
- The overall percentage change in the gold rate in West Bengal per gram from the beginning to the end of the month is 3.75% and 3.81% for 22 carat and 24 carat gold respectively.
- The prices of 5 different dates of the month are noted in the table.
Gold Rate in West Bengal – Trend in 2020
The year 2020 per say, has seen major fluctuations in the gold rate trends in West Bengal. The year however, began with an unfortunate global pandemic whose wave lead to a major crash in the stock market.
Investors lost a lot of money and no revival was seen for quiet sometime as the situation continued to worsen.
Another reason for a volatile trend of gold rates during this year was trade tension between India and China. The rise in US dollar, led to a great dip in gold rates.
Investors panicked looking at the situation in the country and preferred to increase their liquidity because the further course of action seemed uncertain.
However, the COMEX market did see valuable trades that sustained investment of large investors. Despite of a cruel half year, today gold rate in West Bengal has taken a steady pace.
Check out Gold Rates of more cities & states
Gold Rate in Bengal – Trend in 2019
Analysis for the gold rate Trend 2019 in Bengal was volatile. This year saw major changes in gold prices, from reaching to a certain low to sky rocketing by the end of the year.
Majorly affected by the US China trade relations, the gold market tried to sustain its significance with a complimentary demand for the metal.
Of all the secondary factors, an important factor leading to change in gold trades in West Bengal is inflation. The historical gold rate in West Bengal shows, how rise in inflation and demand for gold go hand in hand.
With the fear of inflation consuming purchasing power of the people, gold is used as a tool to hedge against these conditions.
What makes Gold Rates in West Bengal to increase?
Bengal is highly known for its excellent gold artists and craftsman. They are known all over the world for their intrinsic detailing and minute expertise. The demand for gold in West Bengal from localities and tourists is high because of their pure professionalism and perfection.
However, apart from the talent in the residents of Bengal and high use of gold, there are many other reasons that also impact the gold rate in West Bengal as on today. These reasons for gold rates are listed as follows:
- Delicacy and uniqueness in crafting jewellery and ornaments by the localities.
- High demand for gold leading to hike in gold prices.
- Change in prices of gold overseas also impact the gold rate in West Bengal today per gram
- The city making efforts to sustain the rich gold culture by providing training to potential workers who have migrated from cities to ensure income in times of crisis.
What makes Gold Price in West Bengal to decrease?
Of all the positive reasons that impact a positive change in the gold price in West Bengal, there are many negative factors that lead to its downfall as well. The below factors impact Today Gold Price in Kochi per gram:
- Change in economic policies that favour other immobile assets, lead to decrease in gold prices and vice versa
- Low income of localities and loss of jobs due to a global pandemic and war can change gold prices in the country
- When the market crashes or during times of economic depression gold prices are impacted.
- Increase in interest rates can cause a dip in gold prices.
Why Central Bank Policies impacts Gold Rates in West Bengal?
The central bank has direct as well as indirect control over the gold rate in West Bengal. Policies like price rise, increasing stock value, economic expansion and more can indirectly affect gold rates.
Moreover, if interest rates on land, capital and inventory increase, then gold rates are negatively impacted. The gold rate in West Bengal today also shows changes when free capital momentum in the market is impacted by central bank policies.
Why Gold Price in Bengal is different from other Cities?
Gold prices are impacted due to international measures. However, gold prices differ from city to city due to various reasons.
Some of the reasons that change gold price in Bengal are taxes on import, transportation and hauling. Jewellers association put down norms on making charges that are also factored in the gold rate.
The value of Indian rupee against dollar also affects the gold price in West Bengal 916. Wherein, the weakening of the dollar against rupee rises gold prices and vice versa.
What is Gold Rate in West Bengal 916 Hallmark gold?
916 Hallmark is the purity standard for 22 carat gold which follows the norms of creating jewellery containing 91.67 percentage of gold and remaining mixture of metals and alloys.
The demand for 22 carat gold in West Bengal stays high because of its use to make ornaments and sculptures. Hence, the gold rate in West Bengal 916 is a synonym for 22 carat gold.
Find out Gold Rates of more Indian Cities & States
How much is the Tax Levied on Gold Rate in West Bengal?
Apart from the mandatory GST of 5% tax on Gold rate in West Bengal, other charges like making charges, transportation cost and more are also levied on the same. These charges differ from trader to trader.
Since the onset of GST in 2017, it has become important to maintain and record GST charges on gold whatsoever.
Gold Rate in West Bengal – Conclusion
Today gold rate in West Bengal is what it is because of all the facts discussed in this article. From 22 carat gold to 24 carat gold, we have made sure to ease the understanding of fluctuation in gold rates for further analysis.
We hope that all the details mentioned regarding gold rate in West Bengal prove significant for your further analysis.
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