Are you looking for the gold rate in Mumbai? You are at right place! Here we offer the best gold rates available in the Mumbai city so that you’re getting the best deal possible. Below we have listed the latest gold rates in Mumbai for different carats.
24K, 22K & 18K Gold Rates Today in Mumbai
24K gold rate today in Mumbai per gram
|1 Gram||8 Gram||10 Gram|
|Rs. 60,93||Rs. 48,744||Rs. 60,930|
22K gold rate today in Mumbai (916 KDM)
|1 Gram||8 Gram||10 Gram|
|Rs. 5,585||Rs. 44,680||Rs. 55,850|
18K gold rate today in Mumbai
|1 Gram||8 Gram||10 Gram|
|Rs. 4,585||Rs. 36,680||Rs. 45,850|
Historical Gold Rates in Mumbai
|Price Before||24 Carat||% Change(Today vs Prev)||22 Carat||% Change(Today vs Prev)|
Where to buy Gold in Mumbai
In Mumbai, there are several places where you can buy gold. Here are some popular options:
Zaveri Bazaar: Zaveri Bazaar is one of Mumbai’s oldest and most renowned jewelry markets. It is located in South Mumbai and is home to numerous jewelry shops and gold merchants. You can find a wide range of gold jewelry, including traditional and contemporary designs.
Jewellery Stores: There are several jewelry stores located throughout Mumbai that offer gold jewelry. Some well-known jewelry store chains include Tanishq, Malabar Gold & Diamonds, Kalyan Jewellers, and PC Jeweller. These stores have multiple branches across the city and offer a variety of gold jewelry options. Banks: Many banks in Mumbai also sell gold coins and bars. You can inquire at your nearest branch to see if they have gold available for sale.
Gold made Jewellery in Mumbai
Mumbai has a thriving gold jewelry market with numerous shops and showrooms offering a wide range of designs and craftsmanship. You can find traditional, contemporary, and designer gold jewelry in various forms such as necklaces, earrings, bangles, rings, and more.
Gold price in other cities
How is the Purity of Gold Evaluated in Mumbai?
In Mumbai, the purity of gold is evaluated using a standardized system known as the “karat/carat” system. The karat system is widely used globally to measure the purity of gold.
The purity of gold is expressed in terms of “karats” or “carats,” which represents the proportion of pure gold present in a particular piece of gold jewelry.
In Mumbai, common gold purity levels available in the market include:
24 Karat Gold (24K): 24K gold is considered pure gold as it contains 24 parts of pure gold, making it 99.9% pure. However, it is generally not used for making jewelry due to its softness.
22 Karat Gold (22K): This type of gold contains 22 parts of pure gold and 2 parts of other metals, making it 91.6% pure. It is the most popular choice for gold jewelry in India, known for its rich golden color and durability.
18 Karat Gold (18K): 18K gold consists of 18 parts of pure gold and 6 parts of other metals, making it 75% pure. It is commonly used for jewelry pieces that require a balance between durability and purity.
When purchasing gold jewelry in Mumbai, it is essential to look for hallmarking. The Bureau of Indian Standards (BIS) provides hallmarking to certify the purity of gold jewelry. The hallmark consists of a BIS logo, purity in karats, the jeweler’s identification mark, and a unique identification number.
By checking the hallmark, you can ensure that the gold jewelry you’re buying meets the defined standards of purity and authenticity.
What Affects the Gold price in Mumbai?
Several factors can influence the price of gold, Including economic conditions, currency values, and geopolitical events and so on.
Seasonal and Cultural Factors: Cultural events, festivals, and wedding seasons in different regions, particularly in countries with strong gold-buying traditions, can lead to increased demand for gold jewelry and potentially impact prices.
Investor Sentiment and Speculation: Market sentiment and speculative trading can impact short-term fluctuations in gold prices. Investor sentiment, influenced by factors such as economic news, political developments, and market expectations, can drive buying or selling activity in the gold market.
US Dollar Strength: The US dollar and gold often have an inverse relationship. Since gold is globally traded in US dollars, a stronger US dollar can make gold relatively more expensive.
Global Economic Conditions: Gold is often seen as a safe-haven asset during times of economic uncertainty. Economic factors such as inflation, interest rates, currency fluctuations, geopolitical tensions, stock market performance, and overall market sentiment can impact the demand for gold.
Supply and Demand: Supply and demand dynamics play a significant role in determining the price of gold. Gold mining production, central bank reserves, and recycled gold supply contribute to the overall supply.
Other reason: The prices can vary from store to store due to factors like making charges, wastage charges, and the quality of gold used.
Gold as an Investment in Mumbai
Gold is a popular investment option in Mumbai and throughout India due to its historical significance and value as a tangible asset. Here are some points to consider regarding gold as an investment in Mumbai:
Jewelry: Many individuals in Mumbai consider gold jewelry as a form of investment. Gold jewelry is not only worn for adornment but also holds its value and can be sold or pawned in times of financial need.
Gold Coins and Bars: Investing in gold coins and bars is another popular option. These are typically available in various weights, starting from 1 gram and going up to several kilograms. Gold coins and bars can be purchased from banks, jewelry stores, and authorized dealers. It’s important to ensure the purity and authenticity of the gold when buying coins or bars, and it’s advisable to look for reputable sellers and trusted brands.
Gold Exchange-Traded Funds (ETFs): Gold ETFs are investment funds that are traded on stock exchanges and are backed by physical gold. These funds aim to track the performance of gold prices. Investing in gold ETFs allows you to gain exposure to gold without the need for physical storage or handling. Gold ETFs can be bought and sold through brokerage accounts or online trading platforms.
Sovereign Gold Bonds (SGBs): Sovereign Gold Bonds are issued by the Government of India and are a unique way to invest in gold. These bonds are denominated in grams of gold, and investors receive interest on the invested amount. SGBs have a fixed tenure, and they can be traded on stock exchanges.
Gold Mutual Funds: Gold mutual funds invest in various forms of gold-related instruments, such as gold ETFs, gold mining stocks, and gold-related derivatives. These funds offer diversification and professional management of gold investments. Investors can buy and sell units of gold mutual funds through mutual fund houses or online platforms.
When investing in gold in Mumbai, it’s important to consider factors such as the current gold prices, purity, storage costs, liquidity, and the overall investment goals.
FAQs on Mumbai Gold Rate
What is the price of Gold in Mumbai today?
The 1 gram 24 carat gold price today in Mumbai is Rs 60,93.
What is the 916 KDM gold rates today in Mumbai?
916 KDM gold is 22k gold and the price of 10 gram is Rs 55,850.
What is 18 carat gold rate today Mumbai?
The 18k gold rate today in Mumbai is Rs 45,850/ 10gram.
What is 24 carat gold rate in Mumbai today?
24k gold price today in Mumbai is Rs 60,930/ 10gram.
Disclaimer: The gold rates are sourced from local jewelers in the city. There may be variance in rates and prices. Investandearn.net has made every effort to ensure accuracy of information provided; however, Invest and Earn do not guarantee such accuracy. The rates are for informational purposes only. It is not a solicitation to buy, sell in precious gold. Here we do not accept culpability for losses and/or damages arising based on gold information provided
Nirmal is a NISM Certified Derivative Trader & the Founder of InvestandEarn.net (Financial Blog). He entered the world of Equity research to explore his interests in financial markets having 5+ Years of Experience in Share Market Trading & Investing. Nirmal frequently writes about Share Market Trading & Investment and publishes his personal view on the market. Drop him a mail at firstname.lastname@example.org.