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Today Gold Rate in Mumbai (17 Oct 2021)

Gold Price in Mumbai

Last Updated 17th Oct 2021

The gold price in Mumbai for 22-carat gold is ₹ 47,070 and for 24-carat gold is ₹ 48,070.

Gold Price 24 Carat Gold – ₹ per 10 grams 22 Carat Gold – ₹ per 10 grams
Today 48,070 47,070
Yesterday Gold Rate ₹ 48,070 ₹ 47,070
Gold Rate Mumbai Oct 2021
Highest Rate 48,070 47,070
Lowest Rate 46,470 45,470
Average Rate 47,085 46,085
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Today Gold Price Mumbai

₹ 47,070

Gold Price Today in Mumbai

Gold holds a special place in Indian households due to the fact that it is both auspicious when it comes to cultural connotations but also holds a great investment portfolio. Thereby it is largely consumed across the country, including Mumbai. No matter what the situation of the economy is, gold consumption never stops and thereby is important to be informed of the changing gold rates in Mumbai. The gold rates in Mumbai are dependent on various factors such as inflation, demand and supply of gold, international relations or rupee-dollar equation. The gold price in Mumbai today is ₹ 47,070 for 22-carat gold, whereas for 24-carat gold it is ₹ 48,070.

Historical Price of Gold Rate in Mumbai

24 Carat Gold Price in Mumbai 2021

Months Lowest Price 24 Carat Gold – ₹ per 10 grams Highest Price 24 Carat Gold – ₹ per 10 grams
October 2021
46,470 48,070
September 2021
45,490 47,530
August 2021
46,280 48,380
July 2021
47,190 48,480
June 2021
46,740 49,310
May 2021
45,160 47,800
April 2021
44,370 46,250
March 2021
43,980 45,940
February 2021
45,930 49,450
January 2021
48,800 51,350

24 Carat Gold Price in Mumbai 2020

Months Lowest Price 24 Carat Gold – ₹ per 10 grams Highest Price 24 Carat Gold – ₹ per 10 grams
December 2020
47,920 50,370
November 2020
48,240 52,230
October 2020
49,900 51,200
September 2020
49,250 51,750
August 2020
51,350 55,400
July 2020
47,460 52,900
June 2020
45,620 48,410
May 2020
45,300 47,600
April 2020
41,670 47,150
March 2020
40,200 44,320
February 2020
40,240 43,000
January 2020
39,200 41,150

22 Carat Gold Price in Mumbai 2021

Months Lowest Price 22 Carat Gold – ₹ per 10 grams Highest Price 22 Carat Gold – ₹ per 10 grams
October 2021 45,470 47,070
September 2021 44,490 46,530
August 2021 45,280 47,380
July 2021 46,190 47,480
June 2021 45,740 48,310
May 2021 44,160 46,800
April 2021 43,370 45,250
March 2021 42,980 44,940
February 2021 44,930 48,450
January 2021 47,800 50,350

22 Carat Gold Price in Mumbai 2020

Months Lowest Price 22 Carat Gold – ₹ per 10 grams Highest Price 22 Carat Gold – ₹ per 10 grams
December 2020 46,920 49,370
November 2020 47,240 51,230
October 2020 48,900 50,200
September 2020 48,250 50,750
August 2020 50,350 54,500
July 2020 46,460 51,900
June 2020 44,620 47,410
May 2020 44,300 46,600
April 2020 40,670 46,150
March 2020 39,200 43,320
February 2020 39,240 42,000
January 2020 38,200 40,150

From where to buy gold jewellery in Mumbai

When buying gold in Mumbai, it is highly recommended to approach certified and established jewellers who sell hallmark jewellery. Some of the old and reputed jewellers in Mumbai for buying gold jewellery are Tansihq Showroom, PN Gadgill and Sons, ORRA Jewellery, Rushabh Jewellers, Gayatri Gold Palace and Siddharth Jewellers. Other large Stores that sell certified and hallmark jewellery in Mumbai are Manoj Ornaments, Bhairav Jewellers and Dhanlaxmi Jewellers.

List of banks providing gold loan in Mumbai

Customers who own gold jewellery can always approach a bank or a gold loan company to get a loan against jewellery to meet any urgent personal or business expense. Some of the large banks and gold loan NBFCs in Mumbai that provide loan against gold jewellery are:

About Mumbai

Mumbai, is considered as the commercial capital of India and also one of the most popular market for gold in the country. Gold rates in Mumbai depends upon the various international factors like global production, strength of currency, prevailing market conditions, prices of other commodities etc. Gold in Mumbai is available in various forms such as physical gold which includes jewellery, ornaments, gold coins and bars etc. Gold in the city can be purchased from a wide range of gold traders dealing in Gold.

FAQs

What is the gold price in Mumbai for 916 hallmark gold?

The gold price in Mumbai for 916 hallmark gold is ₹ 47,070. The 916 KDM gold price is same as 22-carat hallmark gold.

What is the price of 1 gram gold in Mumbai today?

The price of 1 gm gold in Mumbai today is ₹ 4,807 for 24 carats of gold and ₹ 47,070 for 22 carats gold. 

What is the rate of 23-carat gold in Mumbai?

The rate of hallmark gold of 23-carat in Mumbai is ₹ 48,070.

How is today’s gold rate in Mumbai 916 determined?

The gold rates in Mumbai is determined based on various factors such as the interest rates in the developed countries, demand for gold wherein a lower demand for gold leads to low prices and higher demand leads to high prices. Further, the gold price in Mumbai is also affected by Government policies related to tariffs on gold, and the tariffs charged by the Local Governments.

What is the important checklist for buying gold in Mumbai?

Checklist for buying gold in Mumbai involves being mindful of the following things:

  • Check the gold price per gram: Checking out the gold price per gram is important, as you won’t end up paying more than the actual price. However, check the price from an authentic and reliable source.
  • Know about different purity levels: Before buying gold, it is important that the gold buyer is aware of different purity levels in gold, such as 24 carats or 100% gold, and 22 carats or 91.6% gold. Research about the purity level and pre deicide the level you wish to for based on factors like price and usage of gold.
  • Ensure certification: Ensuring the certification of gold is the most important aspect to check the quality and purity of gold. Ensure that you buy hallmark gold or the gold with the BIS mark.
  • Be aware of the buy-back terms: Lastly, be aware of the lender’s buy-back policy that is the terms on the exchange of gold years later. Know whether the seller will obtain the gold at the same price or whether any cost-cutting is involved.
  • Collect bill: Most importantly, after buying the gold, do not forget to collect a bill form the seller. Collecting the bill will allow you to take actions if the gold is impure or lacks in quality as promised by the seller.

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Gold Loan News - Oct 2021
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    Punjab National Bank (PNB) has launched the 6S Campaign. The campaign consists of schemes like Swabhiman, Samruddhi, Sampark and Shikhar, Sankalp and Swagat. The objective of the campaign is to spread awareness about the development of financial services and accelerate credit growth, improve penetration of social security schemes and drive digital banking push.
  • 2021-10-05 : IndusInd Bank Advances Grow by 10% Y-O-Y
    IndusInd Bank has posted a growth in advances by 10% on a Y-O-Y basis. Retail Deposits and Deposits from Small Business Customers amounted to Rs 1,11,749 crore as of 30 September 2021 as compared to Rs 1,05,737 crore as of 30 June 2021.
  • 2021-10-05 : HDFC Bank Reports Growth in Advances in Q2
    HDFC Bank has reported a growth in advances by 15.4% in quarter 2. As a result, the advances have grown to ₹ 11.98 lakh crore as of September 30, 2021, from ₹ 10.38 lakh crore a year ago.
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    Yes Bank has posted growth of 3.6% (year-on-year) in advances at Rs 1,72,945 crore for the quarter ended September 2021 (Q2FY22). Its advances stood at Rs 1,66,923 crore at end of September 2020 (Q2FY21).
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    Punjab National Bank has reduced gold loan interest rates by 25 points. The new gold rates now start at 8.50%.
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