Gold prices in Kolkata eased on Thursday, January 22, as bullion corrected from recent record highs in both domestic and international markets. The fall followed profit booking and signs that geopolitical risk — a key driver of gold’s earlier rally — has softened in the near term.
Latest gold rates in Kolkata today (per gram)
| Purity | Rate (₹) |
|---|---|
| 24K gold | ₹15,431 |
| 22K gold | ₹14,145 |
| 18K gold | ₹11,573 |
Gold in Kolkata traded lower compared with the previous session, reflecting pressure seen across major Indian cities after sharp gains in recent days.
Why gold prices are falling in Kolkata today
1. Profit booking after record highs
Gold had surged to multi-year highs in domestic and global markets, prompting traders to lock in gains. Indian gold futures hit record levels just a day earlier, lifting spot prices across major centres including Kolkata.
2. Easing geopolitical tensions
Gold’s appeal had been boosted by heightened geopolitical uncertainty involving the U.S., Europe and other fronts, which drove safe-haven demand. After recent diplomatic developments — including a softer tone on Greenland — some of that pressure eased, leading to reduced demand for gold as a hedge.
3. Stronger U.S. dollar
With the U.S. dollar strengthening against other currencies, gold — priced in dollars — became relatively more expensive for holders of other currencies, contributing to the pullback in prices.
4. Correction in MCX gold futures
Domestic gold futures on the Multi Commodity Exchange (MCX) also corrected sharply, weighing on local jewellery prices. The correction in futures often ripples through to spot rates in cities like Kolkata.
Context: recent gold price action
Gold hit an all-time high on the MCX earlier this week, with futures climbing above ₹1,58,000 per kg as global spot gold headed toward $4,883 per ounce amid risk aversion. Prices have since given up part of those gains as market conditions shifted.
Despite today’s decline, gold remains elevated compared with levels from earlier in the year, underpinned by structural demand, macro uncertainty and ongoing diversification into bullion by central banks and investors.
What this means for buyers in Kolkata
For buyers in Kolkata, the recent drop offers a mild breather after sharp price rises. However, gold remains historically expensive, and prices are likely to stay sensitive to global cues such as currency moves, geopolitical headlines and central bank signals.
Note: Local gold rates may vary slightly based on jeweller making charges, GST, taxes and regional premiums.