Gold in Kolkata, the City of Joy, is a great product to invest in and also carries a rich cultural connection. Kolkata is majorly renowned for jewellery-craft and in recent years has emerged as a major consumption market. For women, affinity to Gold Jewellery is well documented with unverified estimates suggesting that the Bengali Badhu (bride) wears an average 250 grams of Gold during marriage.
Today Gold Rates in Kolkata shows the latest market rates in Kolkata. Rates are updates by Sify.com twice through the day and shown in an easy to understand format. The per gram, sovereign (8 grams), tola (10 grams) and 100 grams are meant to help buyers understand the rates easily. The rate tracker for the last five days and highest and lowest gold rates in last 30 days also helps buyers understand the movement. These rates are exclusive of GST and making charges.
Rates for Kolkata displayed on this page are fetched directly from prominent jewellers and associations. Although West Bengal is a vast state, the rates for Kolkata are valid across major districts and cities of the state such as Hooghly, Howrah, Berhampore, Kharagpur, North 24 Parganas, South 24 Parganas, Darjeeling, Siliguri, Asansol and even Durgapur.
Kolkata & Gold Connection:
The state renowned for its literary prowess has close connection with jewellery or karigari (artwork). More popularly called as Swarnakars, the karigars of West Bengal have worked in several gold hubs across India, namely Mumbai, Thrissur in Kerala and Coimbatore in Tamil Nadu. The art of crafting jewellery or Bengali Karigari is centuries old. It would not be difficult to spot goldsmiths with legacy of close to a century in Kolkata. It may not be remote to stumble upon a goldsmith or a jeweller who talks about his or her great-grand-father's business extending right upto Dhaka, Chittagong or even Rangoon. Prior to independence in India, it was quite common of Bengali jewellers to have business in these cities. In fact, the culture in the adjacent country of Bangladesh is quite similar with that of West Bengal.
West Bengal was among the pioneers of Jadau jewellery and along with the jewellers of Jaipur was responsible for bringing Lac jewelleries in India. Although Bengali gold jewellery is known for being plain, the artistry and designs involved with 22 Karat gold can make jaws drop. The swarnakars of Kolkata are adept at bringing various elements to life with their designs –be it peacock, tiger, animal embosses or Durga Mata and Krishna's hands on jewellery, all look lively.
The Swarnakars of Parganas districts hold an edge when it comes to hand-designed filigree work. It is reported that some 30 villages account for 3,000 artisans who make-up for a majority of the filigree designs seen in India. Their art includes ornamental designs on pendants, brooches, rings, bracelets, necklaces etc.
Bengali jewellery is distinguishable considering the use of bright-yellow Gold devoid of enamel or precious stones. Traditional Bengali jewellery known for filigree or Tarkashi carried the least amount of stones, pearls or enamel and focussed mostly on Gold design aesthetics.
It is only in the last 300 years or with the arrival of the British East India Company that artists explored stones, pearls and diamonds. Obviously, CNC and cutting machines were unavailable back then but the sheer wizardry of artists ensured deft cuts and polishes with high level of human precision and near zero wastage. Although Bengali designs are known to be plain golds, the Jadau and Kundan jewellery were made popular here.
24 & 22-Karat Gold rates in Kolkata:
24-karat gold rates can change at least twice through the day – morning and evening. 24-Karat or 999 gold rates are affixed by leading jewellers of the local jewellers and bullion association in Kolkata. Rates are determined based on the prevailing currency rate (USD-INR) and the cost of gold in dollar terms. Import tariffs and duties are added along with refiner margin and minor making charges to arrive at the price.
The association also arrives at 22-Karat (916) and 18 Karat in a similar fashion, although jewellers may have their own calculations. For buyers it is essential to know that rates quoted by adjacent jewellers can change by a margin of a few rupees. This is only because of difference in rates cost of impurity, transportation, logistics, operational expenses and business margins.
How Rates can change at the Jeweller
Although rates are changed twice by the association, many jewellers including the leading ones may conduct business on a single rate mentioned through the day. Also, there can be differences in the quotes from adjacent jewellers. Both are common observations primarily because the rate at each jeweller includes making charges and margins. For our readers, the easiest way to track Today Gold rates in Kolkata is to bookmark this page. We showcase live market trends and analysis for Bullion, 24 Karat and 22 Karat.
Popular Gold Investment Avenues:
In Kolkata, Gold is considered far more than investment –a fashion statement. Hence there is more likelihood of investors buying jewellery or investing in schemes floated by jewellers. In recent times, millennials keen on investments have commenced investing in popular investments such as:
1. Sovereign Gold Bonds
2. Exchange Traded Funds
3. Buying and Selling of Bullion via MCX trading platform
4. Buying and selling of stocks related to Gold-trade.
Good time to buy Gold in Kolkata:
As a culture, Gold rates in Kolkata is usually ahead of Poila-Baisakh and Navratri. There are several festivals that the city celebrates, as well as Muhurats to invest in. Usually, Gold can be bought when rates trade low or the forecast suggests a blip. Do follow Sify Finance and Sify Gold Rates to kee a tab on the rates of yellow metal.
Popular Jewellery Ornaments in Kolkata:
Kolkata or Bengali Jewellery has traditionally been light-weight and crafted mostly by hand. With the advent of the 21st century, jewellers have managed to give customers a great design with least wastage and options for beads, filigree elements and desired gemstones.
Among popular collections, the Bridal collections and contemporary one sladen with semi-precious stones are quite a hit. Lac bangles, necklaces, rings, bangles for daily use, anklets, hair brooches and other accessories are quite popular. For children, thin necklace, simple earrings, toras and anklets are popular. Gold jewellery for legs is usually frowned up as a cultural practice. Bengali jewellery designs can instill the belief that Gold is fashion and not just investment alone. Stay prepared to be dazzled by unique designs.
During marriage, a Bengali Badhu is decked with Gold starting from the Sonar Mukut or head-crown right until the Kamarbandh at her waist. Anklets and toe-rings are usually made of Silver. One can expect intricate art-work with each of the jewellery element.
Headgear: Popular are elements such as Sonar Mukut and even the tikli or forehead pendant that is attached to hair parting via gold strands. Other accessories include hair-bun and brooches.
Ears: The two variants of Kaanbala are equally in demand - the closed one and the open one lapping around the ear. Other popular Kaan er Dul or earrings includes the Kaanpasha or large gold studs. Peacock shaped Jhumas with intricate designs and variants with gemstones are popular.
Hand: Baala or bangles, Sankha, Sakha Paula, Pola Badhano, Conch shell shaped bangles, Bauti or Baoti, Amritapaker Bala, Ananta or Armlets, Loha Badhano, worked gold chain. Among bangles the plain choorie gets an ecclectic twist - gems, designs, puffs, etc. The lac bangles are worne by married women. Also popular are gold Kankans.
Bracelets: Solidly worked gold chain called Makar mukhi bala. Can be elaborately studded or made on plain gold with a few studs. Upper arm baaju-band made of either hollow gold with intricate decorations to give it a more filled up look or a plain one with designs. Talk of jewellery for the wrist the designer Mantashas, designed during Mughal era, are equally popular. Other jewelleries you would hear of includes the Chur (bracelet), Ratanchur (connected to the fingers via gold strands).
You will be spoilt for choice when it comes to jewellery for neck. The necklace can have five or seven strands. Popular among the Muslim community is Hansuli as well as Gold Taaveez. For noserings, the popular one is Naakchhabis.
Choker and necklaces could amaze you. The Chick or Chokers set with a velvet thread are an all-time hit. Necklaces such as the Panch noli (5 strands or chains) or Saat (7) Noli haar are any Bengali bride’s dream.
Time-Trusted & Popular Gold Showrooms of Kolkata:
The city of Joy can certainly turn your shopping experience into a Joyful one. Coming to major markets, the one at Bowbazaar is at least two centuries old and is called India's busiest gold hub with over 1,000 jewellery showrooms and workshops. This hub is home to 2,500 artists and goldsmiths. Gold jewellery is also a major activity in areas near Burrabazaar, Kalighat, Hatibagan, Behala, Baghbazar, Bhawanipur, Gariahat, and Bguihati. You would also find several gold jewellers with branches in Bhowanipore, Park Street, Camac Street and Siliguri.
Among top brands the legacy ones include Satramdas Dhalamlal that established in 1880. The first Satramdas store was replaced by the popular Moulin Rouge restaurant and had to shift to Park Street sometime in 1924. Another legacy name is Sawansukha Jewellers that reportedly has a 250-year old history starting initially as a Diamond trader. Then, there's HK Dutta & Co (1930) and Senco Jewellers that was established five decades ago and. Along with PC Chandra Jewellers, these are household names in Kolkata.
In recent times, brands such as TBZ, Tanishq, Kalyan Jewellers, Malabar Gold & Diamonds are also available, should you want something more contemporary. Talk of contemporaries and you can't miss out on the contribution of Raj Mahtani, the fifth generation descendent of Satramdas Dhalamlal. When it comes to celebrity clientele, Mahtani's popular label - Mahtani Jewels reads an impressive list of clients - Ambanis, Mittals, Goenkas, Birlas, Bhartias, and an epic Bollywood clan. His B'wood list includes Kiara Advani, Kareena Kapoor, Mira Rajput, Kangana Ranaut, Raima Sen and several others. Mahtani is credited to have added eclectic and contemporary twist to the heritage of Satramdas Dhalamlal and its Mughal designs.
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Why subscribe to authentic rates:
Investment in Gold or bullion can always safeguard your hard-earned money from inflation. While most financial advisors recommend allocating 10 to 15 percent of savings or financial portfolio in gold and gold-backed assets, there is no hard-fast rule. In fact, most analysts recommend investing in Gold on dips, that is when price hits a low. But the volatilies of buying and selling and complicated rates can lead to a dissatisfied experience, hence it is advisable to know the latest market rates prior to buying and selling. After all a penny saved, is a penny earned.
The gold rates in Kolkata is a way to enable customers access the latest and authentic gold rates. Sify recommends buyers to negotiate on the basis of per gram gold rate and also features several reader engagement activities. Some of these exercises includes talking to industry veterans and market experts to understand latest insights. Readers can bookmark this page or download Sify Gold rates app to keep a track of the latest and most accurate gold trends across India.
Disclaimer: Sify.com showcases news, analysis and gold rates with the sole objective of financial prosperity for all. Rates mentioned on this page may vary within the same city and readers are hence advised to consult with a registered financial advisor. For any complaints, feedback, opinions or to share experiences write to firstname.lastname@example.org with the subject – Gold / Bullion.