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.
On March 29, 2024, gold prices in India experienced an overall increase, with the average price for 10 grams of 24-carat gold reaching Rs 68,730 and 22-carat gold reaching Rs 63,000. This surge is attributed to India's high demand for gold, mainly for the jewellery industry. In Delhi, the price for 10 grams of 22-carat gold is approximately Rs 63,150, whereas 10 grams of 24-carat gold is priced at around Rs 68,880, indicating a significant increase in the retail gold market. Meanwhile, the silver market also saw an upward trend, reaching Rs 77,800 per kilogram.