24 Carat Gold Rate in Mumbai (Today & Yesterday)

22 Carat Gold Rate in Mumbai (Today & Yesterday)

Gold Rate in Mumbai for Last 10 days

How do gold prices change in Mumbai?

Just like in every other city or state in the country and around the world, numerous factors influence today’s gold prices in Mumbai, causing the rates to rise or fall. Here are a few of the factors that decide the prices of gold in Mumbai:

Rates decided by the Indian Bullion Jewellers Association (IBJA):

IBJA is the body of all gold jewellers in and around the country. This organization sets the gold rates in every city. While setting up the rates, it considers a few pieces of information:

1. The rates set by some of the largest dealers of gold in a particular city.
2. Import duty, which is different for every city, varies most of the time.
3. Multi-Commodity Exchange (MCX) index. The market primarily determines the prices of gold, as MCX is fundamentally a marketplace where commodities and precious metals are traded.

Things to Keep in Mind before Buying Gold in Mumbai

1. Gold Certification: Choosing gold with a hallmark stamp ensures you get the purest gold possible. You should also request the BIS certificate, which verifies hallmarked gold jewellery made in India.
2. Making costs – Labor costs associated with making jewellery are referred to as making costs. They are usually based on the jeweller.
3. Buyback terms – Indian jewellery stores provide their customers with buyback terms so they can trade in their used gold jewellery for new items. The price of gold is set by Mumbai’s current gold exchange rate. It’s crucial to understand the buyback conditions if you want to exchange or return jewellery.
4. Understand the Gold Price – Gold prices fluctuate daily based on the global market, the U.S. Dollar, and the Indian Rupee. When purchasing gold in Mumbai, check the current gold rate (usually quoted per gram) and compare rates across different dealers or stores. Ensure that the gold rate includes all taxes (like GST) and making charges, which can vary significantly.
   1. Making Charges: These are additional costs for converting raw gold into jewelry and can range from 5% to 20% of the total price. It is important to ask about making charges upfront.
   2. Taxes: The Goods and Services Tax (GST) on gold in India is typically 3%, and it is important to verify whether the price quoted includes GST.
5. Choose a Trusted Dealer – Mumbai has many gold dealers, but not all of them are reliable. It’s important to buy from well-established and reputable jewelers to ensure you’re getting genuine gold. Popular areas for gold shopping in Mumbai include Zaveri Bazaar, Colaba, and Bandra, where you will find trusted names in the industry.
   When buying from a dealer, check for:
   1. Certification: Ensure that the gold is certified by recognized bodies like the Bureau of Indian Standards (BIS). Gold sold in India is often marked with the BIS hallmark, which ensures authenticity and purity.
   2. Return/Exchange Policy: Understand the dealer’s return or exchange policy, especially if you’re buying jewelry. Some stores offer discounts on future purchases or exchange options in case you wish to upgrade your jewelry.

Conclusion

Gold prices in Mumbai today are approximately ₹ 11,950 per gram for 22-carat gold and ₹ 12,548 per gram for 24-carat gold. These prices are subject to change due to global and domestic economic factors. Whether you’re buying gold for investment or jewelry, it’s essential to consider factors such as purity, making charges, and the reputation of the dealer. With this knowledge, you can make an informed decision and get the best value for your purchase.

आज मुंबई में 22 कैरेट सोने की कीमतें लगभग ₹ 11,950 प्रति ग्राम और 24 कैरेट सोने की कीमतें ₹ 12,548 प्रति ग्राम हैं। ये कीमतें वैश्विक और घरेलू आर्थिक कारकों के कारण बदलती रहती हैं। चाहे आप निवेश के लिए सोना खरीद रहे हों या आभूषण के लिए, शुद्धता, निर्माण शुल्क और विक्रेता की प्रतिष्ठा जैसे कारकों पर विचार करना ज़रूरी है। इस जानकारी के साथ, आप एक सोच-समझकर निर्णय ले सकते हैं और अपनी खरीदारी का सर्वोत्तम मूल्य प्राप्त कर सकते हैं।