Gold Rate Today In Kolkata: May 10, 2024

Q: How is the gold rate decided?

Gold is initially priced in the U.S. dollar. Then the exchange rate, customs duty, agriculture and infrastructure cess as well as transportation cost, cost added by jewelers, discount on bulk purchase, among taxes like GST are levied on it to arrive at the landing cost to the consumer.

Q: How to invest in sovereign gold bonds (SGBs)?

SGBs are government-backed securities , with the minimum investment of one gram and the maximum investment limit up to four kilograms per year for an individual, and 20 kilograms for trusts. Investors are paid an interest rate of 2.5% semi-annually up on a lock-in period up to eight years.

Q: How to buy gold jewelry online?

There are online providers who sell and deliver gold jewelry at your doorstep. Typically, jewelry sold online ranges between five to 10 grams of 18K gold which buyers purchase for daily wear.

Q: What is the tax on gold jewelry in India?

There are various taxes levied on gold jewelry including import duty, agriculture infrastructure development cess, and 3% goods and service tax (GST), and making charges plus GST on it.

Dipen Pradhan

Forbes Staff

Published: May 10, 2024, 9:35am

Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but that doesn't affect our editors' opinions or evaluations.

The price of gold is different across Indian states and cities. Forbes Advisor has put together the gold price of one and 10 grams of 24-Carat and 22-Carat pure gold in Kolkata today, as of 9:35 am.

Gold Rate In Kolkata (May 10, 2024)

Today 22 Carat Gold Price in Kolkata (Per Gram)

Today 24 Carat Gold Price in Kolkata (Per Gram)

Gold Rates in Kolkata for the Last 10 Days (Per Gram)

Compare 22K & 24K Gold Rate In Kolkata (Yesterday & May 10, 2024)

Monthly Graph of Gold Rate in Kolkata (22 Carat gold)

Monthly Graph of Gold Rate in Kolkata (24 Carat gold)

Gold Rate In India Today: May 10, 2024

Where to Buy Gold in Kolkata?

Physical gold and gold saving schemes

Retailers offer physical gold upon full payment as well as through gold saving schemes. Individuals pay a monthly fee without interest as installment for a specific tenure, and jewelers pay the last installment as a cash incentive.

Sovereign gold bonds

The Reserve Bank of India (RBI) issues SGBs via banks from time to time. An individual can subscribe to a minimum of 1 gram of gold up to 4 kgs. The value of one bond is 1 gram of gold.

Digital gold

The method of buying gold digitally involves various forms of investing including:

Gold exchange traded funds (ETFs): Stock exchanges allow traders to invest in an ETF, with one unit equivalent to 1 gram of pure physical gold.

Gold accumulation plan: Mobile wallets as well as Gold Rush plan of Stock Holding Corporation of India offers to buy digital gold that allow customers to buy and accumulate gold safely without any concern or worry.

Where to Sell Gold in Kolkata?

Retailers and dealers may buy gold from individuals in a certain amount upon verifying the bill of purchase, its purity, current cost, etc. Individuals can instead also avail of loans from banks and NBFCs against their gold as collateral. The interest rates on gold loans vary among banks on the basis of factors like weight of the jewelry, value (ranging from 18K to 24K), repayment period, to name a few.

Frequently Asked Questions (FAQs)

What is the importance of BIS hallmarking?

BIS hallmarking is helpful in accurately determining and recording the content of precious metal in precious metal articles. Thus, BIS hallmarks are used as a guarantee of purity or fineness of gold.

What is the price of gold in major cities of India?

How is the gold rate decided?

How to invest in sovereign gold bonds (SGBs)?

How to buy gold jewelry online?

What is the tax on gold jewelry in India?

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Dipen Pradhan Forbes Staff

Dipen Pradhan is a Staff Reporter for Forbes Advisor India. He has more than 10 years of experience in journalism. He covers the personal finance beat. When he is not writing, he enjoys documenting the community's ethnic knowledge, and travels to explore rural hotspots.