Mumbai, one of the most popular cities and India’s financial capital, houses the highest number of gold buyers and sellers. Gold is one of the most valuable commodities, and Mumbaikars check the gold rate today in Mumbai before buying or selling the gold or applying for a gold loan. The gold rate in Mumbai for 22k gold carat and 24K gold carat fluctuates regularly based on numerous external factors, owing to the high volume of gold trading in Mumbai, the citizens need to monitor the gold price regularly to get the best price. Here are the current latest gold price in Mumbai

Gold Price in Mumbai for 22K and 24K Gold Purities

22 Carat Gold Price Per Gram in Mumbai - (Today & Yesterday)

If you're planning for gold investment, check and compare 22 carat gold rate in Mumbai. Consider taking look at the following information given below:

Gram Today Yesterday Price Change
Gold rate for 1 gram ₹ 6,939 ₹ 6,897 ₹ 42
Gold rate for 10 gram ₹ 69,390 ₹ 68,970 ₹ 420
Gold rate for 12 gram ₹ 83,268 ₹ 82,764 ₹ 504

Today 24 Carat Gold Price Per Gram in Mumbai - (Today & Yesterday)

Now you can compare the 24K gold rate per gram in Mumbai. Check the following table as given below:

Gram Today Yesterday Price change
Gold rate for 1 gram ₹ 7,570 ₹ 7,524 ₹ 46
Gold rate for 10 gram ₹ 75,700 ₹ 75,240 ₹ 460
Gold rate for 12 gram ₹ 90,840 ₹ 90,288 ₹ 552

Disclaimer: IIFL Finance Limited (including its associates & affiliates) ("IIFL") makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are subject to change and are provided on an as-is basis with no guarantees of completeness, accuracy, usefulness or timeliness and is without any warranties of any kind, express or implied. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. IIFL accepts no liability or responsibility for any errors or omissions in the content stated herein and under no circumstances shall IIFL be liable for any damage, loss, injury or disappointment suffered by any reader.

Historical Gold Rate in Mumbai For The Last 10 Days

Day 22K Pure Gold 24K Pure Gold
19 Apr, 2024 ₹ 6,939 ₹ 7,570
18 Apr, 2024 ₹ 6,897 ₹ 7,524
15 Apr, 2024 ₹ 6,834 ₹ 7,455
12 Apr, 2024 ₹ 6,869 ₹ 7,494
10 Apr, 2024 ₹ 6,778 ₹ 7,394
09 Apr, 2024 ₹ 6,723 ₹ 7,334
08 Apr, 2024 ₹ 6,707 ₹ 7,317
05 Apr, 2024 ₹ 6,549 ₹ 7,144
04 Apr, 2024 ₹ 6,595 ₹ 7,195
03 Apr, 2024 ₹ 6,544 ₹ 7,138

Monthly and Weekly Trends of Gold Rate in Mumbai

The monthly and weekly trends of Mumbai’s gold rate are associated with demand and supply management. Mumbai witnesses a steady rise in demand, and the current gold rate in Mumbai is affected by the supply of gold. The monthly and weekly trends follow these factors and subsequently affect the gold price and the Indian domestic market.

Gold Price Calculator in Mumbai

Gold should be minimum 0.1 grams

Gold value: ₹ 6,939.00

What is the Current Trend in the Gold Price in Mumbai?

As one of the biggest hubs for the demand and supply of gold, the gold rate in Mumbai also changes based on the demand and supply of Mumbai’s gold market in real time. However, despite the fluctuating gold rate, the current trend indicates a steady rise in the demand for gold in Mumbai.

Importance of Checking Gold Rates in Mumbai Before Buying

In the domestic market and especially in Mumbai, the gold rate changes in real-time in the domestic market. Hence, to buy and sell gold in Mumbai, it is necessary to check the gold rate in Mumbai to get the best gold price.

Factors that Affects Gold Prices in Mumbai

Gold is one of the most valuable commodities used in multiple industries such as technology, infrastructure and for personal purposes in Indian households. Numerous factors affect the gold price in Mumbai. These are:

  • Demand and Supply: If the demand for gold is higher than the supply in Mumbai, the gold price will rise. On the other hand, if the demand is lower than the supply, the gold price will fall.
  • Currency Markets: The price of gold in Mumbai and the domestic market is associated with the currency markets, especially the US dollar rate. If the US dollar weakens, the latest gold rate in Mumbai falls because of weak global cues.
  • Economic Situation: People consider gold as a safe investment to hedge against negative economic factors such as inflation. Such economic factors highly affect the demand for gold, thereby affecting its price in Mumbai.
  • Interest Rates: Gold prices have an inverse relationship with prevailing interest rates. If the interest rates increase, there is a heavy sell-off of gold, increasing supply. People prefer to buy gold when the interest rates decrease, increasing the demand.

916 Gold Rate in Mumbai Today: How is it calculated?

The Bureau of Indian standards hallmarks gold and its products based on purity. Within its hallmarking procedure, 916 hallmarked gold is 22 karats of pure gold bought and sold in Mumbai. The 916 Gold Rate in Mumbai Today is calculated in the following way:

  1. International Price: Based on the International prices of gold, you can calculate the 916 gold rate as it is the price at which gold traders execute imports.
  2. Demand and Supply: Based on the demand and supply volumes of gold in Mumbai, gold rates are fixed daily at 10 grams.
  3. Purity: If the gold is hallmarked as 916 gold, its price will differ from other types of gold, such as 18 karats or 24 karats.

Reasons why Gold Rates Differ Between Mumbai and Other Cities

Mumbai’s gold rate differs from other cities as the buying and selling numbers vary from one city to another. Citizens of Mumbai may buy or sell gold in lesser or larger quantities than that of other cities, thereby affecting the price of gold. Furthermore, these factors may play a role in differing gold rates across cities in India:

  1. Imports: The value of imports is a factor that influences the price of gold. Since Mumbai is a more extensive consumer of gold than other smaller cities, the price fluctuates compared to other cities.
  2. Volume: The demand and supply in Mumbai is different from those in other cities. The rate varies as Mumbai citizens buy and sell gold in higher volumes.

Gold Rates in Mumbai FAQs:

Show More

Gold Loan Popular Searches

IIFL Insights

How To Get The Lowest Gold Loan Interest Rate
Gold Loan How To Get The Lowest Gold Loan Interest Rate

While seeking a gold loan, a crucial factor is th…

GST on Gold: Effect of GST On Gold Jewellery 2024
Gold Loan GST on Gold: Effect of GST On Gold Jewellery 2024

Gold is more than a cultural symbol in India; it…

How can I get a  Loan against Diamond Jewellery?
Gold Loan How can I get a Loan against Diamond Jewellery?

Diamonds, they say, are forever! World over, diam…

A Guide to store your Gold the right way
Gold Loan A Guide to store your Gold the right way

Investing in precious metals, such as gold, is a…