After the Union Budget was announced by the Indian government, gold rates in Kolkata have significantly dropped for the last 6 days. On July 25, the price for 1 gram of 22 carat gold is at ₹6,665 and 1 gram of 24 carat gold is at ₹6,998, the lowest it has been since the Budget declaration. This decrease in gold rates has sparked interest among investors and gold buyers in the city.
Gold Prices in Kolkata Drop Post-Union Budget Announcement
Background:
Gold has long been a popular investment option in India, with many people considering it a safe haven during economic uncertainties. The price of gold is influenced by various factors, including global economic conditions, interest rates, inflation, and supply and demand.
Post-Union Budget Impact:
After the Indian government's Union Budget announcement on July 5, 2022, gold rates in Kolkata have witnessed a steady decline. As of July 25, the price for 1 gram of 22 carat gold stood at ₹6,665, while 1 gram of 24 carat gold was priced at ₹6,998. This marked the lowest prices since the Budget declaration.
The decline in gold rates has been attributed to the following factors:
Interest from Investors and Buyers:
The drop in gold rates has sparked interest among investors and gold buyers in Kolkata. Many are taking this opportunity to purchase gold at a discounted price, either for investment purposes or for personal use.
Top 5 FAQs:
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