Kolkata Gold Prices Fall to ₹14,351 per Gram on July 29
Gold prices in Kolkata continued to decline on July 29, marking the second straight day of losses. The 24K gold rate fell to ₹14,351 per gram, while 22K gold dropped to ₹13,155 per gram.
The recent correction has erased much of last week's rally, which saw prices climb to ₹14,651 per gram on July 22. Despite the decline, prices remain slightly above levels seen before the rally began.
According to HDFC Sky, gold prices move in response to a mix of global and domestic factors, including international bullion prices, fluctuations in the rupee against the U.S. dollar, import costs, and inflation expectations. Interest-rate expectations, central bank buying, geopolitical developments, and investor demand for safe-haven assets also play an important role.