Mumbai is the city of finances, money as it is officially called the financial capital of the country. If you are in Mumbai and want to invest or buy gold and want to know the Gold Rate in Mumbai, then you are in the right place.
Here in this article, we will give you all the details related to Gold Rate in Mumbai Today.
Gold is one of the most valuable commodities across the globe and also an investment vehicle that is used by many investors especially in the time of crisis when other financial assets pose a downward risk.
People from Mumbai are very well aware of investments and other financial services and assets. So, this page has Gold Rate in Mumbai Live, that is, the data changes on the page as the price of the gold changes in the market.
Here, you can read about the present day’s gold price, historical prices, Six months’ price details and various other interesting factors that influence the price of gold.
So, let us begin with the 22 Carat gold rate and 24-carat gold rate and then, dig deeper into the various aspects of this commodity and its pricing.
22 Carat Gold Rate in Mumbai – Gold Price in Mumbai Today
The 22 Carat Gold Rate in Mumbai can be easily checked using this website. As you can see in the table above, there are price details for the present and the previous day.
You can also check the change that took place between these two days and then, the percentage of change is also mentioned.
If you are a trader, then you must be looking for Gold Price in Mumbai Today for trading purpose, this website not only gives you the price, but also the performance of the commodity on the present-day over the previous day.
24 Carat Gold Rate in Mumbai Today – Gold Price in Mumbai
In Mumbai, there are millions of investors who invest in 24 Carat gold daily and also, there are traders who trade the commodity regularly. 24 Carat gold, as we all know is the purest form of gold that is available on the earth at present.
Here, in this section, you will find the 24 Carat Gold Rate in Mumbai and along with that; there will be various other details.
The Pure Gold Price in Mumbai on this page is from this day, and previous trading session and the change in both real and percentage terms.
Find Gold Rates of other Indian Cities & States
|Gold Rate in Kochi||Gold Rate in Chennai||Gold Rate in Kerala||Gold Rate in Mysore|
|Gold Rate in Bangalore||Gold Rate in Delhi||Gold Rate in Hyderabad||Gold Rate in Vizag|
|Gold Rate in India||Gold Rate in Pune||Gold Rate in Kolkata||Gold Rate in Jaipur|
Gold Price in Mumbai for Last 15 Days
In this section, you will find the details of Gold Price in Mumbai for the last fifteen days. For a trader, and also for the investors, it is crucial to analyze the historical data of the commodity they are going to invest in.
If you are a short-term trader, then you need to check these fifteen days’ data for analyzing and understanding the trend of the price of gold and then, make a decision about your trade or bet. Similarly, the long terms investors need to analyze the price for a longer time.
However, before investing, they need to check the last months or fifteen days’ data for more accurate analysis. The price for both the 22 carats and 24-carat gold is given in the table above and you can choose to invest in any of them or both.
Graph of Gold Rate Today in Mumbai – Also Past Gold Price in Mumbai
The graphical representation of the price data of both 22 and 24 carats gold is given over here, in this section. You can find the Gold Rate in Mumbai on the graph given above which can give you a clear understanding of the movement of the gold prices.
For a trader, especially who is into technical analysis, this graph on Gold Rate in Mumbai, can be of great help.
The graph makes prices, when plotted on a graph easy to track over a time span and gives a clear view of the trend, movement and various other factors which an investor and trader needs to be aware of.
Gold Price in Mumbai – Past 6 Months Price
There are data related to Gold Rate in Mumbai given in the next six sections of this article. You can read this data to get a detailed idea about how the gold price moved in these previous six months.
You can easily understand the price volatility, highest and the lowest prices, the month when the prices increased or decreased and many other factors which will eventually help you with your investment in gold.
July 2020, Gold Rate Movement in Mumbai
|Gold Rates in July 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-07-2020||₹ 4,765||₹ 4,865|
|08-07-2020||₹ 4,660||₹ 4,760|
|15-07-2020||₹ 4,790||₹ 4,890|
|22-07-2020||₹ 4,870||₹ 4,970|
|31-07-2020||₹ 5,190||₹ 5,290|
|Highest Rate in July||₹ 5,190||₹ 5,290|
|Lowest Rate in July||₹ 4,645||₹ 4,745|
Being well read about the Gold Rate in Mumbai opens the possibility of cracking the best deal. Catch up with the data of the recent month and see how the prices have been ranging based on the happenings of the month and compare it with present day.
- Check the necessary changes in the price of the metal and see how profitable investment can be made out of it.
- Let us begin with the change in the price introduced across the entire month. The percentage change stood at 11.3% and 11.49%.
- Elaborating the change, it was of high degree as we see and led to a significant rise in the price level.
- 22 carat gold category related price levels are Rs.5190 on the highest front and Rs.4645 on the lowest end.
- In the similar manner, the prices related to the 24 carat gold category were Rs.5290 and Rs.4745.
June 2020, Gold Rate Movement in Mumbai
|Gold Rates in June 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-06-2020||₹ 4,605||₹ 4,705|
|08-06-2020||₹ 4,469||₹ 4,569|
|15-06-2020||₹ 4,600||₹ 4,700|
|22-06-2020||₹ 4,687||₹ 4,787|
|30-06-2020||₹ 4,735||₹ 4,835|
|Highest Rate in June||₹ 4,740||₹ 4,840|
|Lowest Rate in June||₹ 4,462||₹ 4,562|
The best way to learn the Gold Rate in Mumbai fluctuation is through a tabular representation. Here is the data of the month, provided to you via a table, and also bullet points, so you do not have any difficulty deciphering the month’s price.
- Data you will find in the table consists of the first day of the week, last day of the month, percentage change and also the highs and lows.
- First consideration of the month is the percentage change, which was accounted at 6.23% and 6.09%.
- This change which was noticed throughout the month was slightly more than the average price change.
- 22 carat and 24 carat gold prices reached the maximum level of Rs.4740 and Rs.4462.
- Well, the lowest price level for the month was Rs.4462 and Rs.4562
May 2020, Gold Rates in Mumbai
|Gold Rates in May 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-05-2020||₹ 4,530||₹ 4,630|
|08-05-2020||₹ 4,473||₹ 4,573|
|15-05-2020||₹ 4,541||₹ 4,641|
|22-05-2020||₹ 4,623||₹ 4,723|
|31-05-2020||₹ 4,599||₹ 4,699|
|Highest Rate in May||₹ 4,659||₹ 4,759|
|Lowest Rate in May||₹ 4,432||₹ 4,532|
In this section, which is for May 2020, the Gold Rates in Mumbai for both the 22 carats and the 24-carat gold are given in tabular form. Also, we have analyzed and discussed the important facts below–
- Since the starting of the month, the price of the gold was high but then dipped in the next week and then again it started rising for the next two weeks following the third week of the month. It is the same for both 22 carats and 24-carat gold.
- The prices of both the gold though moves up and down the ladder throughout the month, but the change or volatility was not that significant.
- The highest and the lowest prices for the 24-carat gold was recorded as Rs.4759 and Rs.4532 which depicts that the difference between the two is not very wide and thus the fluctuation in the price was very nominal.
- Similarly, for the 22 Carat gold, the price fluctuation wasn’t again that much as depicted by the highest price of the gold against its lowest price which is Rs.4659 and Rs.4432.
- Talking about the performance of these two gold in the market for the month of May was quite average and both the gold increased by 5.12% and 5.01% respectively for the 22-carat gold and 24-carat gold.
April 2020, Gold Rate Movement in Mumbai
|Gold Rates in Apr 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-04-2020||₹ 3,966||₹ 4,160|
|08-04-2020||₹ 4,198||₹ 4,298|
|15-04-2020||₹ 4,352||₹ 4,452|
|22-04-2020||₹ 4,256||₹ 4,356|
|30-04-2020||₹ 4,538||₹ 4,638|
|Highest Rate in Apr||₹ 4,608||₹ 4,708|
|Lowest Rate in Apr||₹ 3,964||₹ 4,160|
The table below has the Gold Rate in Mumbai per Gram for the 24 carats and the 22-carat gold and the prices are given for five different days, which are numerically the starting dates of each week of the month.
So, you can check the month’s performance from the table and analysis is given below –
- The price of both types of gold increased for three weeks, starting from the first week of the month. The price jumped a bit as you check the price for the second week and the third week and it is for both the categories.
- Towards the end of the third week, and starting of the fourth week, the prices started declining and also dipped quite low during the fourth week as you can make out from the table.
- It again spiked up towards the end of the month and roared owing to the growing tension in the market due to the pandemic situation. The overall performance of the gold was pretty good this month and thus both gained around 16.25% and 13.17% this month.
- The highest and the lowest prices for the 22 Carat gold was Rs.4608 and Rs.3964, which shows a wide gap and thus, the volatility was too high this month.
- It is the same for the 24 Carat gold as well, the highest price was Rs.4708 while, the lowest is Rs.4160 and the difference is quite visible.
March 2020, Gold Rate Movement in Mumbai
|Gold Rates in Mar 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-03-2020||₹ 4,062||₹ 4,266|
|08-03-2020||₹ 4,320||₹ 4,538|
|15-03-2020||₹ 4,248||₹ 4,463|
|22-03-2020||₹ 3,964||₹ 4,163|
|30-03-2020||₹ 3,965||₹ 4,162|
|Highest Rate in Mar||₹ 4,323||₹ 4,538|
|Lowest Rate in Mar||₹ 3,924||₹ 4,120|
March 2020 showed us a whole new life and contingencies and the price moved vigorously up and down the ladder this month.
The table given here has the Gold Price Movement in Mumbai for March, this month, the prices were highly volatile and that we will discuss now –
- The price jumped within one week by Rs.300 (approx.) and then went down the ladder in the next weeks. So, the prices were highly volatile as the investors were not sure of what to invest in this crisis.
- From the second week of the month, the prices keep on dipping but at a slower pace.
- The highest price achieved by the 22 Carat gold in this month was Rs.4323 when the lowest was Rs.3924 and this shows a huge difference which indicates the level of volatility that was there in the price of this gold for this month of March 2020.
- Not only in the 22 Ct. gold, but the volatility was there in the 24-carat gold also and that made the highest and lowest prices of the commodity stand quite apart from each other. While the highest was Rs.4538 and the lowest was Rs.4120.
- However, even when the prices dipped for the longer period of the month, but the commodities – 22 ct. and 24 ct. gold performed pretty well in the market and progressed by 10.17% and 10.15% respectively.
February 2020, Gold Price Movement in Mumbai
|Gold Rates in Feb 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-02-2020||₹ 3,985||₹ 4,183|
|08-02-2020||₹ 3,940||₹ 4,133|
|15-02-2020||₹ 3,978||₹ 4,175|
|22-02-2020||₹ 4,040||₹ 4,244|
|29-02-2020||₹ 4,155||₹ 4,365|
|Highest Rate in Feb||₹ 4,207||₹ 4,416|
|Lowest Rate in Feb||₹ 3,937||₹ 4,133|
Gold Rate in Mumbai per gram for the month of February is given in this section, in both tabular formats and also in detail. The prices of both the types of gold are provided, and here are the important facts that you need to be aware of –
- In the month of February, the prices were more or less stable. There was not much fluctuation seen in the prices in February.
- The price for both the gold slightly decreased during the starting weeks of the month and then increased towards the end.
- The highest price recorded by the 22-carat gold was Rs.4207 and the lowest was Rs.3937. The difference is very minute that shows the volatility was negligible in the month.
- It is also the same case with 24-carat gold where the price was Rs.4416 as the highest and the lowest was Rs.4133 and the difference between the two is a bit wider than the other gold mentioned above but not huge.
- Both the gold performed fairly in this month and progressed by around 6% each.
January 2020, Gold Price Movement in Mumbai
|Gold Rates in Jan 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-01-2020||₹ 3,802||₹ 3,986|
|08-01-2020||₹ 3,975||₹ 4,177|
|15-01-2020||₹ 3,883||₹ 4,077|
|22-01-2020||₹ 3,925||₹ 4,121|
|30-01-2020||₹ 3,926||₹ 4,126|
|Highest Rate in Jan||₹ 4,020||₹ 4,224|
|Lowest Rate in Jan||₹ 3,802||₹ 3,986|
In the month of January, 22 Carat Gold Price in Mumbai and the price of the 24-carat gold progressed very minutely and, we will discuss this along with other important factors affecting the price of the gold in that month.
- The Gold Price in Mumbai for January was very flat. The prices moved at the same pace throughout this month without making any spike or dip in the graph.
- The overall performance of the gold in this month was 5.73% and 5.97% which were very nominal.
- The volatility in the market was next to nil and thus the highest and the lowest prices recorded by the commodity this month were also very close.
- The 22-carat gold made up to Rs.4020 and dipped till Rs.3802 and the difference as you can see wasn’t very big.
- It was quite a similar situation for the 24-carat gold as well when the highest price was Rs.4224 and the lowest was only a few points apart at Rs.3986.
December 2019, Gold Rate Movement in Mumbai
|Gold Rates in Dec 2019||22 Ct Gold Rate||24 Ct Gold Rate|
|01-12-2019||₹ 3,732||₹ 3,919|
|08-12-2019||₹ 3,716||₹ 3,900|
|15-12-2019||₹ 3,673||₹ 3,860|
|22-12-2019||₹ 3,716||₹ 3,907|
|30-12-2019||₹ 3,799||₹ 3,992|
|Highest Rate in Dec||₹ 3,800||₹ 3,992|
|Lowest Rate in Dec||₹ 3,671||₹ 3,855|
The 24 Carat Gold Rate in Mumbai is one of the highest rates for the commodity as this is regarded as the purest form of gold and this section will entail the prices of each weeks’ beginning for both the gold types, that is 22 carats and 24-carat gold.
- For the month of December 2019, the Gold Rate in Mumbai was quite low if you compare it with the price of the gold as of now.
- At the beginning of the month, the prices were going down and towards the end of the month, they started gaining momentum but the pace was very slow.
- The highest price recorded for the 22-carat gold this month was Rs.3800 and the lowest was only around Rs.100+ away at Rs.3671 which depicts the extremely low volatility in the price.
- For the 24 carat gold which we mentioned above, the price went down to Rs.3855 and the highest was Rs.3992 and here also there was hardly any fluctuation.
- The performance of both these gold was around 3.5% which can be said to be very average performance.
Gold Rate in Mumbai – Trend in 2020
Due to the pandemic situation in the country and all over the world, the Gold Rate Trend in Mumbai is highly volatile as the people are investing in gold mainly to make their investments safe.
As you compare Today Gold Rate in Mumbai with the previous day’s rate or for the previous few days, you will find that, the prices have been fluctuating rapidly.
The prices of the gold both 22 carats and 24 carats have been on the rise since the month of March when this pandemic started.
The prices are anticipated to rise further and reach a never-seen high in the market due to this crisis.
Check out Gold Rates of more cities & states
|Gold Rate in Tirunelveli||Gold Rate in Ahmedabad||Gold Rate in Odisha||Gold Rate in Indore|
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|Gold Rate in Warangal||Gold Rate in Goa||Gold Rate in Coimbatore||Gold Rate in Madurai|
Gold Rate in Mumbai – Trend in 2019
In the year 2019, there were many changes in the policies of the government and the Central bank, which made a great impact on the Gold Rate Trend 2019 in Mumbai. If you check the Historical Gold Rate in Mumbai for the last year, you will find that the prices were more or less stable.
The trend however went from being stable, in the beginning half of the year to significantly increasing in the second half.
This increase was mainly because of the RBI’s monetary policy and the changes that were made in that. Furthermore, the currency value started depreciating owing to the monetary policy’s change and thus, the value of gold also spikes as the cost of importing the gold increased.
What makes Gold Rates in Mumbai to increase?
Different reasons make the Gold Rate in Mumbai as on today to increase and they are –
- The prices of this commodity mainly increase, owing to the fact that there is high demand in the market. If the demand for the commodity is higher than the supply, the price automatically increases.
- The second point that can increase the price of the gold significantly is a situation where investors panic on accout of a financial or economic crisis or any kind of crisis. Here the investors search for a safe haven and what else can be a better haven than gold. It is most of the investor’s last resort when the crisis hit hard.
- Then there is inflation in the market which increases the rate of the commodity. It is because, the general price of everything increases and so of gold. It increases on two levels – firstly, it increases on the commodity itself, and secondly, the making charges increase which ultimately increases the price of the jewelry.
- If the currency value depreciates and the monetary policies are changed, then the price of the gold can increase as it did in.
What makes Gold Price in Mumbai to decrease?
As there are reasons for the increase in the gold price, there are various reasons that can make the Gold Price in Mumbai go downhill and they are –
- Today Gold Price in Mumbai per gram can go down if the currency value appreciates. So, when the value of Indian currency would appreciate against other currency especially against the currency of the country from where gold is imported, the cost of imports will do go down and so will the rate of the commodity.
- The second point that attributes to the decrease in the price of gold is other markets or assets. Gold prices are very sensitive to the price or performance of other assets like equities, bonds, etc. When these markets boom, people withdraw their money from gold and invest in these assets hoping for a higher return.
- Similarly, when the interest rates are increased by the government or RBI, the gold price falls as people sell off their gold to earn those extra interests provided on different financial products like FDs and others.
- There is another reason which affects the price of gold and can take it down and that is supply overflow. If the supply of gold increases then the prices can go down. It can increase when the RBI supply more gold from its reserve and in a few other scenarios.
Why Central Bank Policies impacts Gold Rates in Mumbai?
The Gold Rate in Mumbai is affected by Central Bank policies to a great extent because the currency value is dependent on the monetary policies of the RBI. Gold Rate in Mumbai Today that you see is highly dependent on the currency value, that is, the exchange rate of our currency.
The monetary policies if made in favor of the investors in gold, then the prices will increase another decrease. For example, if the interest rates on FDs and other saving accounts are increased by the RBI, then the price of gold will decrease and vice versa.
Why Gold Price in Mumbai is different from other Cities?
In every city, there is a different price of gold because of mainly two reasons –
- First is the transportation cost which increases or decreases the Gold Price in Mumbai depending upon whether the transportation cost is higher or lower than other cities.
- Then, the second is the making charges. It is one of the main factors determining the prices and thus, the price of the commodity also changes.
What is Gold Rate in Mumbai 916 Hallmark gold?
If you have bought gold anytime, then you must have heard the term hallmark, 916 hallmark gold is nothing but another name of the 22-carat gold. So, Gold Rate in Mumbai 916 hallmark gold is equivalent to the price given in the above tables for the 22-carat gold.
The hallmark is a metric that determines the percentage of gold’s purity. In 916 hallmark gold, the alloy from which the jeweler makes the ornaments or any other product has 91.6% of pure gold, and remaining is other metal for strengthening the alloy.
Find out Gold Rates of more Indian Cities & States
|Gold Rate in Bhopal||Gold Rate in Gurugram||Gold Rate in Hosur||Gold Rate in Raipur|
|Gold Rate in Mangalore||Gold Rate in Ranchi||Gold Rate in Amritsar||Gold Rate in Kakinada|
|Gold Rate in Meerut||Gold Rate in Vijayawada||Gold Rate in Nellore||Gold Rate in Lucknow|
How much is the Tax Levied on Gold Rate in Mumbai?
The Tax on Gold Rate in Mumbai is levied under two different slabs or category and they are –
- Jewelleries – On Jewelleries there is 5% GST changed on the Making charges.
- Raw Gold – If you buy gold as a commodity or good, then you need to pay only 3% GST.
Gold Rate in Mumbai – Conclusion
We hope this article on Gold Rate in Mumbai helped you in your research on the gold rates in this city. You can come back every day to check Today Gold Rate in Mumbai, as the prices are updated on a daily basis on this site.
We have tried to incorporate all the possible information about the commodity in this article to help you in your research and investments.
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