Gold Rates Get Cheaper In Kolkata Today, 23 Oct: 24K/10 Gm Over Rs 1.25 Lakh, 22K/100 Gms Drops Rs 7.500

Ahead of Chhath Puja, gold prices in Kolkata fell precipitously today, Thursday, October 23, providing a bit of relief for investors and purchasers amid the festive season. As domestic demand trends and global cues continue to impact the bullion market, prices are declining. Let's take a closer look at today's updated gold rates in Kolkata.

Gold & Silver Prices In Kolkata Today

Today, 24 carat gold costs Rs 12,508 per gram, 22 carat gold costs Rs 11,465 per gram, and 18 carat gold costs Rs 9,381 per gram in Kolkata. The price of 24k of 10 grams of gold in Kolkata today reached Rs 1,25,080, down Rs 810 from yesterday's price of Rs 1,25,890. This indicates that 24k of 100 grams of gold fell by Rs 8,100 to Rs 12,50,800 in Kolkata on Thursday.

Gold rates in Kolkata dropped to Rs 1,14,650 on Thursday from Rs 1,15,400 on Wednesday, representing a price drop of Rs 750 for 22k of 10 grams, which means that 22k of 100 grams has become cheaper by Rs 7,500, costing Rs 11,46,500 for the customers of Kolkata today.

Gold price in Kolkata today for 18k of 10 grams will cost Rs 93,810, which was Rs 94,420 yesterday, representing a price drop of Rs 610. Hence, 18k of 100 grams of gold rates have become cheaper by Rs 6,100 for the customers of Kolkata today, costing only Rs 9,38,100.

In Kolkata, the price of silver is Rs 159 per gram and Rs 1,59,000 per kilogram today, as opposed to Rs 160 and Rs 1,60,000 yesterday.

MCX Gold Outlook Today

"Domestically, Gold MCX at ₹128,270 shows support at ₹121,000 and ₹115,000, while resistance is expected around ₹130,200. A breakout above ₹132,000-₹134,500 would be required to reestablish bullish momentum," said Tejas Shigrekar, Chief Technical Research Analyst Commodities and Currencies at Angel One Ltd.

Spot Gold Outlook

"Technical indicators across Gold ETFs, Spot, and Futures markets now reflect clear signs of reversal, with price action shifting from bullish to bearish. Gold spot price traded near the $4,000 mark, with a major break and sustained below levels. We anticipate further downside into November and December, particularly as seasonal demand tapers off following the festive period," commented Tejas Shigrekar.

"Investor sentiment has also shifted. With the festive season nearing its end and demand softening, traders have begun increasing their exposure to put options, positioning for continued weakness in the coming months," he added.

"These trading ranges offer opportunities for traders to exit long positions and initiate shorts. At the international level, gold priced at $4,080 is expected to find support between $3,800 and $3,670, with resistance near $4,190. A sustained move above $4,260 could invalidate the bearish outlook," Tejas Shigrekar further recommended.

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