Gold Price in West Bengal today -
last updated on

West Bengal

West Bengal, a state with numerous natural wonders. This is the fourth-most populated state in India. The state is known for its history, heritage, and rich culture. It is located in the eastern part of India along the Bay of Bengal. Due to its geographical location, the state is a hot-spot of tourist attraction. Stretching from the great Himalayas to the Bay of Bengal, the state has magnificent landscapes to captivate your attention. This state’s economy is based on agricultural production and small & medium-size enterprises. People often rely on buying gold for their better future and love to track the gold rate in West Bengal. Natural resources like tea and jute in nearby areas have made West Bengal a major center for the jute and tea industries.

Gold Prices in West Bengal for different purity

Purity
Gold price 1 gram Gold price 10 gram

Take a pre-approved gold loan at the comfort of your home

approved badge
  • monthly interest

    0.49% monthly Interest (5.88% P.A.)*

    Save more with low interest rate
  • per gram rate

    Highest Per Gram Rate Guaranteed

    Get the true value of your Gold
  • trophy

    Google Play 4.6

    Highest Ratings 17,000+ Reviews
Please enter valid Mobile Number

Gold Prices in West Bengal for last 7 days

Date Gold price 1 gram Gold price 10 gram

Gold Price in Major Cities

City Gold Price Change

Difference between 18 Karat, 22 Karat and 24 Karat gold

Karat is the term that is used internationally to indicate the purity of the gold. The karat rate is directly proportional to the purity of the gold. As the karat increases, so does the purity of the gold. The difference between a 24 karat, 22 karat and 18 karat golds are explained below. The 24 karat gold is the purest form of gold that is available. Because of its purity, rather than using it to make jewelry, it is used for investment purposes. The 24 karat gold exists in the form of gold coins or gold bars. The 24 karat gold is followed by the 22 karat gold which is used to make jewelry. The 22 karat gold is a mixture of gold with alloys such as zinc, nickel, or silver. These alloys make the gold harder and fit to be fashioned into jewelry. The purity of the 22 karat gold is 91.67% pure. The 18 karat gold is the cheapest gold that exists. It is a mixture of 75% gold and 25% alloys.

How is Gold’s purity determined?

Gold is one of the most valuable metals known to humankind, and it can be used for multiple purposes. Besides, making jewellery, gold is also commonly used to avail funds during a financial crunch.

Thus, it is vital to measure the purity of gold to make the most of its equity. Following are some of the ways.

  • Karat System

It constitutes one of the most common ways to determine the quality and purity of gold. Denoted by “K”, this measurement system depends on a scale that ranges from 0 to 24. For instance, a god article of 1 Karat means that that particular gold item consists of 1 part of gold and 23 parts of other metals or alloys. It also means, the closer to 24K, the purer the gold.

  • Hallmarking

Most gold articles, including jewellery, come with an inscription called “hallmark” that carries the symbol of gold purity, its fineness, date of manufacturing, etc. Most countries, including India, have mandated gold jewellers to carry the BIS hallmark.

  • Other Methods

Besides these, most traders use conventional acid test or use an electronic gold tester to determine gold purity accurately.

Irrespective of the method, assessing gold purity is essential for both buyers and traders.

Why is Gold considered a Precious Metal?

Gold is universally acknowledged as a valuable commodity pertaining to its unique properties, such as:

  • Finite availability

Gold is available in limited quantities. The best estimates suggest that about 197,576 tonnes of gold have been mined throughout history. In fact, if every ounce of this gold is arranged in a cube, each side of this cube will only measure about 21 metres.

  • High Demand

The price of gold tends to rise over time. This is because its demand is exceedingly high in countries India, but the supply is limited.

  • Idle Asset

Gold is a highly liquid, non-consumable asset. Additionally, this metal retains an active market at almost all times. So, individuals can easily convert their gold to cash whenever they want.

  • Economic impact

It impacts economies in terms of contribution to foreign exchange and trade balance. Furthermore, gold is used as a reserve to hedge against inflation in most free-market economies globally.

How is gold rate determined?

There are many micro and macroeconomic factors that determine the gold rates in India. Some of the factors that influence that gold rates are: gold production, inflation, government’s gold reserves, demand and supply of the gold commodity in the market, import rates, interest rates, taxes, local demand, etc. Since an unprecedented emergency is likely to arise at any moment, being a resident here, it is good to have an eye on the latest gold rates in cityname. The market price of the gold and the gold valuation offered by the lender is likely to vary. The lender calculates the average gold price of 22-Karat gold according to the rates from the past thirty dates. This is how the lender concludes on the gold gram rate. The value of the gold loan that you get is dependent on two factors – the average gold price and the lender’s LTV (loan to value) ratio. The RBI has also directed the lender to disburse up to 90% of the market value of the gold till March 31, 2021.

Gold Price Calculator

Dummy image
gold img
Apply for Gold Loan 30 Minutes Doorstep Service
close
+91
Please enter valid Mobile Number
close
success img

Loan Request Successful

Your request has been received, our customer relationship manager has been notified and will call you shortly

West Bengal
state
[{"state":"Gujarat","city":"Vadodara"},{"state":"Andhra Pradesh","city":"Kakinada"},{"state":"Madhya Pradesh","city":"Bhopal"},{"state":"Tamil Nadu","city":"Coimbatore"}]