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  Gold Rate in Mumbai Today

Gold Rate in Mumbai

Gold rate in Mumbai. User will get Latest gold and silver price in Mumbai. User can find 24 carat gold rate in Mumbai and 22 carat gold rate in Mumbai. They all can also get Silver rate today in Mumbai Maharashtra. Latest Gold rate in Tola and Oz at Mumbai. Find the Mumbai gold price on 26 May 2019

gold and silver rate in Mumbai on last week of August 2017

  • Gold rate in Mumbai after GST is now stable and have not shown any major change in the ,month of the August 2017 till now. We hope that Mumbai gold price would remain stable for the last of the month. However, the retail market is still learning the implication of the GST on their business and therefore, they are very cautious about the business.  
  • After the GST Effect on the gold, gold rate in Mumbai in the last week of the August was started from Rs. 27790 for 22kt and for 24kt gold price is about Rs. 29430.
  • While India was busy in the event of BABA Ram Rahim case, gold rate lowest recorded in Mumbai was on 16th August with Rs.27790 and 24kt gold was lowest recorded on both 16th and 23 rd august 2017 with Rs. 29,430 per 10 gm.
  • 22 Kt gold rate on Mumbai was highest recorded at Rs.28150/10gm on 21 August 2017 while 224KT was recorded at Rs.29810/10gm on 21 August 2017.
  • Silver rate in Mumbai was started with Rs. 38,350 and closed at Rs. 38860 per 1 kg. The lowest silver rate in Mumbai was recorded on 16th August 2017 while highest was recorded on 41900 on 21 August 2017.

GST on Gold and jewellery products on Mumbai

  • The GST Council finalised a four-tier structure for taxation of both goods and services at 5, 12, 18 and 28 per cent and Finance minister of India Arun Jaitley has confimed that Gold will be taxed at fixed rate of 3%.
  • Gold, gems, jewellery to be taxed at 3 per cent as per the latest announcement in GST meeting on 3rd June 2017 while Kerala is the only state which has a tax rate of 5 percent.
  • Currently before July 2017, Tax on gold and products made from Gold are vary between 2% to 3%.
  • 3% tax on Finished Diamond and 0.25 percent on rough diamonds.

Mumbai Gold and Silver rate in December 2017

  • In the 1st week of December 2017, Mumbai gold price was started with Rs. Per 10 gm for 24 karat while Rs. Per 10 gm was for 22 karat gold. Since now market is stable hence, gold rate in Mumbai is now going down and thus buying / trading of gold in Mumbai may increase.
  • Gold rate in Mumbai in 2nd week of December 2017 was started from 29600 / 10 gm 22kt gold while closed at Rs. 27240 / 10 gm. Highest gold rate in Mumbai was recorded in 11 days on when gold rate for 24 karat touched to Rs.29,800 Per 10gm while 22 karat gold rate touched to Rs. 28,050 Per 10 gm. Lowest price of gold in second week in Mumbai was recorded on 11 December 2017 as the price of gold in Mumbai touched to Rs.29,060 For 24 karat per 10 gm while 22 karat was at Rs.27,140 Per 10 gm.
  • While gold rate was stable hence, Silver rate in Mumbai also recorded at Rs. 37430 per 1 kg when started and on 11th December it was recorded at Rs. 39,200. Last month same day the silver rate for 1 kg was recorded at Rs. 42800.

Mumbai gold price in January 2018

  • Gold rate in Mumbai in the January 2018 has seen no major changes. 24 karat gold rate in Mumbai in 1st week was started with Rs. 30,600 /10 gm and 22 karat gold rate in mumbai was started with Rs. 28,390 / 10 gm.
  • By second week, the price of gold in gold for bot 24 karat and 22 karat has closed with Rs.30,200 / 10 gm and Rs.28,350 / 10 gm respectively
  • Silve price in mumbai has  also srated with good pace at Rs. 39,048/ 1 kg but by 2nd week it is closed at Rs. 38,990 /1 KG

Mumbai Gold trading and price

  • With The latest effort made by the government, gold rate in Mumbai was recorded Between 30k to 31K for 10 gm. The highest gold rate in last week of November was recorded at Rs. 30,240 per 10 gm and this leads to some rest in the gold price. GST on making charge on gold and other type of jewelry will be reduced to 5%. Earlier it was placed at 18%. 
  • Silver and gold rate in Mumbai has seen no major change and any one can compare the gold rate and it was stable. People have shown some faith in last week and started gold trading. 

List your Jewellery shop / Business in Mumbai

  • Yug Overseas (India)
    405, Archana, Plot- 18, Sector- 17, Vashi, Navi Mumbai
    Phone : 22-27890219
    Fax : 22-27667917

  • Ashoka Antiquities
    114 A, Jagannath Chawl, 1st Floor, Road No. 6, Fanaswadi
    Bombay/Mumbai 400002
    Phone : 22-22081136

  • Satyam Jewellers
    13/15, 3rd Road, Vitthai Wadi
    Bombay/Mumbai 400002
    Phone : 22-2418318

  • Ambika Silver House
    148, Ram Niwas, Mumbadevi Road, 3rd Floor, Zaveri Bazaar
    Bombay/Mumbai 400002
    Phone : 22-30935282
    Fax : 22-23472398

  • Vrinda Enterprises
    93, Mittal Chambers, Nariman Point
    Bombay/Mumbai 400021
    Phone : 22-2828063

  • Touch Of Beauty
    Memon Building, 48, Husainiya Marg, Pakmodiya Street, Null Bazaar
    Bombay/Mumbai 400003
    Phone : 22-56861439

  • Gem Smith Exports (India)
    Ajinkya Shanti Nagar, Sec1/B55/401, Shanti Nagar
    Bombay/Mumbai 401107
    Phone : 22-20533271

  • Shangaar Jewellers
    Shop No.1, Leela Vaibhav, Behind Bobby Shoping Center, M. G. Road, Kandivali West
    Bombay/Mumbai 400067
    Phone : 22-28085375
    Fax : 22-28085375

  • Abhyuday International (India)
    54, Bullion Exchange Building, 2nd Floor, 185, Sheikh Memon Street
    Bombay/Mumbai 400002
    Phone : 22-3450323

  • Deepchand Sons Nx
    1, Planet Junction Of Turner Rd & Waterfield Road, Bandra West
    Bombay/Mumbai 400050
    Phone : 22-26514418
    Fax : 22-26439247

  • Fine Arts
    33, Chowpatty Municipal Market, Dadiseth Lane, Babubhai Chinai Marg
    Bombay/Mumbai 400007
    Phone : 22-23671974
    Fax : 22-23671974

  • Girishkumar Chhaganlal Jeweller Pvt. Ltd
    246, Zaveri Bazaar, Sheikh Menon Street, Opposite Tribhovandas Bhimji Zaveri, M. J. Market
    Bombay/Mumbai 400002
    Phone : 22-22400266
    Fax : 22-22411415

  • Credit Resources
    37, New Marine Lines
    Bombay/Mumbai 400020
    Phone : 9820883464
    Fax : 22-22008962

  • Silver Emporium
    2/8 Mahajan Gali, Shop No. 8, Zaveri Bazaar
    Bombay/Mumbai 400002
    Phone : 22-22412712
    Fax : 22-22404803

  • Perfect Imports
    Dol Bin Shri Building, 69/71, Janma Bhoomi Market
    Phone : 22-22874032

  • Eastern Overseas (India)
    2/205, Shah & Nahar Industrial Estate, (A-2), Lower Parel West
    Bombay/Mumbai 400013
    Phone : 22-24941913
    Fax : 22-56607297

  • Shama Gems
    L/6, Hotel Hilton Towers, Nariman Point
    Bombay/Mumbai 40001
    Phone : 22-22836611
    Fax : 22-22834725


Banks in Mumbai

    IFSC: CBIN0283995
    ContactNo.: 22612008
    City: MUMBAI
    District: GREATER BOMBAY

    IFSC: CBIN0283996
    Branch: T.I.F.R.COLABA
    ContactNo.: 22612008
    City: MUMBAI
    District: GREATER BOMBAY

    IFSC: CBIN0284048
    Address: CHEMBUR, MUMBAI - 400074
    ContactNo.: 22612008
    City: MUMBAI
    District: GREATER BOMBAY

    IFSC: CBIN0284082
    ContactNo.: 22612008
    City: MUMBAI
    District: GREATER BOMBAY

    IFSC: CBIN0284241
    Address: PAREL, MUMBAI
    ContactNo.: 22612008
    City: MUMBAI
    District: GREATER BOMBAY

    IFSC: CBIN0284563
    Branch: KANDIVLI(EAST)
    ContactNo.: 22612008
    City: MUMBAI
    District: GREATER BOMBAY

    IFSC: CBIN0284564
    ContactNo.: 22612008
    City: MUMBAI
    District: GREATER BOMBAY

    IFSC: CBIN0284565
    Branch: DHARAVI 90FT
    ContactNo.: 22612008
    City: MUMBAI
    District: GREATER BOMBAY

    IFSC: CBIN0284597
    ContactNo.: 22612008
    City: MUMBAI
    District: GREATER BOMBAY

    IFSC: CBIN0284612
    ContactNo.: 22612008
    City: MUMBAI
    District: GREATER BOMBAY

Gold is Precious Metal in Mumbai

Gold is one of the precious metals on earth which is available in raw form. It is available in form of bright and slightly reddish yellow when it is in its natural color. In Mumbai, Gold is dense, soft, malleable, and ductile metal and chemically is a transition metal. It is also considered as one of the least reactive chemical elements and is solid under standard conditions. Gold price in Mumbai is also very high because it is resistant to most acids, though it does dissolve in aqua regia (a mixture of nitric acid and hydrochloric acid) which forms a soluble tetrachloroaurate anion and in alkaline solutions of cyanide, which are used in mining and electroplating. However, since it is precious in nature hence it is used many other form as jewelry, people invest in gold bars etc.

Daily, weekly and monthly Gold price in Mumbai

Mumbai since considered as the financial hub of India so, gold rate in Mumbai holds very important market in India. Mumbai gold price fluctuate daily, weekly and monthly hence one may find same gold price every day. People in Mumbai have to look for daily gold rate in Mumbai, Weekly gold Rate in Mumbai and Monthly rate price in Mumbai, while looking to buy or invest in gold. Due to daily ups and down in the price buyers has to very vigilant so that he/she cannot buy gold when gold rate in Mumbai is very high. He/she can wait and monitor daily, weekly and monthly gold price in Mumbai before taking any final decision.

Variety of gold in Mumbai

Gold generally come in purity forms: 18 kt, 22 kt and 24 kt and in Mumbai along with other parts in India, gold price vary by its nature. Out of three forms 22kt is most common and popularly called as 916 gold. However, 22 Karat is not completely pure gold and have 91.67 per cent purity. Hence, 18kt gold price in Mumbai is cheaper than 22kt gold rate in Mumbai while both 18 and 22 kt is cheaper than 24 kt gold rate in Mumbai. Like most of the world 22kt gold is used for all in making gold jewelry in Mumbai. Mumbai gold jewelry price also varies because of this reason. Those who wanted to buy/retain the highest purity gold products in Mumbai, can go ahead and buy the 24 karat gold in Mumbai which is the highest level of purity of gold and can be bought in the form of gold biscuits and also in the form of gold bars and coins in Mumbai.

22 karats gold or 24 karats gold - Which gold is better to buy in Mumbai

22kt gold is most common and popularly called as 916 gold is since we know that 22 KT gold price in Mumbai is not the price of the pure form of gold. 22 karat gold rate in Mumbai is cheaper then 24 karat gold in the city. It totally depend upon the buyer and his/her pocket that which type of gold 22 karat gold in Mumbai or 24 karat gold in Mumbai he can afford. However, 22 karat is still is only 75 percent pure and hence it price lower than 24 karat gold that is purest form and is malleable hence, other elements or alloy are added to make it tougher. Hence, it is totally depend on the upon the affordability of the buyers.

Steps and method to check and test gold purity in Mumbai

Gold Price in Mumbai differs by the purity. Even buyers sometime feel cheated if they buy the gold without checking the gold purity. While add other materials in gold sellers can manipulate the gold purity and you have land up while buying gold in Mumbai at higher price. Hence, it is very important to check in various testing method. Below we have described few methods:

Magnet test: If the metal alloy is added then gold is impure and therefore, there is a high possibility that the ornament which is heavily mixed with gold would be attracted to it.

Acid test : This involves a stone and some acid and 24 karats gold in this case. However, currently very sophisticated karat checking machines are available to measure and identify the pure the gold.

Beware from getting cheated while buying gold in Mumbai

Gold buyers in Mumbai should be vigilant enough while looking to buy gold. While buying gold in Mumbai or anything like gold biscuit, gold coins and gold jewelries, there are few critical things that we should look forward to:

  • A> If we are looking to buy gold in form of coin, or biscuit, or brick then pls. buy gold in Mumbai from the shop which sell gold with Hallmark. Buyers should consider to buy the gold from BIS shops.
  • B> While buying gold jewelry in Mumbai and again with some stones designs in gold then most important thing we have to consider is that we need to look at the quantity of stone in the jewelry. The cost of stone and gold very 2 different thing and should not be consider it same as when we want to sell it then gold smith will buy gold, after deducting the stone charges. Hence, pls. consider the gold price and weight and not the stone.

Understanding Gold wastage charges while buying of finish gold ornaments / jewelry in Mumbai Gold price in city varies because of various reasons and one of the reasons is the addition of making charges. The making charges is totally independent to market as it is upto sellers / shop keepers which they can decide the making charges. There is no specific rule to decide the cost hence it is very easy for the shops to increase and decrease to the cost of finish jewelry. The cost which is added and making finish jewelry product is called at making charges and is upon the shop owners how much they can charge. Hence, while looking to buy the gold ornaments, buyers should ask for the making charges and while comparing with the today’s gold rate in Mumbai and should make sure that they should negotiate on making charges.

How to avoid buying fake gold in Mumbai?

Buyers who are seeking option to invest in gold or buy gold in Mumbai have to very causes while buying it raw form like in coins or biscuits so that they should not end with buying fake gold:

  • 1> Any gold quality which is below to 10 karats gold is defined as fake gold hence best way to buy the gold is that they should look for hallmark on the gold given by the Bureau of Indian Standards.
  • 2> Try to check with magnet as gold is not a material which would stick to magnet. Also there are various other density tests that gold undergoes to know if it is genuine or fake.

Important steps that can be taken before buying gold in Mumbai?

People in Mumbai should follow some important steps before they decide to buy gold in the Mumbai city.

  • 1> Confirm the today’s gold price in Mumbai – Mumbai gold price varies as government duties are applicable and made payable by the government from time to time make gold more costlier.
  • 2> While buying gold user have pay various government taxes hence they should aware that how gold they want to buy.

Reasons for gold rates in Mumbai fluctuate very frequently? Mumbai Gold rates fluctuate because of number of reasons, they are: Mumbai Gold price fluctuate because international prices rise or dip. Thus, we add to this the currency rates and then also the applicable import duties, to arrive at the gold rates in Mumbai.

Another factor is government taxes. The government also time to time changes duty rates thus resulted in gold rates go either lower or higher. Also seen that when there is excess money supply in the economy it leads to investors buying into precious metal like gold in Mumbai- Maharashtra, which fuels a rally in the prices in Mumbai.

Thus current gold price in Mumbai influenced by many factors and there is no single one that has a telling impact on the price of the precious metal.

Gold price in Mumbai in 2017

Gold price in Mumbai in 2017 is very important as the buyers through that can take final decision for buying 24 kt or 22 kt or 18 kt gold. Since Mumbai is the financial hub and people living in the city have very much disposable income to invest or buy gold or gold rate products like Gold ETF, gold biscuit, gold ornaments/jewelry etc.

What are the factors that effect gold and silver price in Mumbai

There are many factors that effect’s gold price in Mumbai. They are :

  • 1> Government tax regulation may effect the price of gold in Mumbai in 2017. Since GST is main focus hence price of gold in the city is highly likely to remain same as other cities in the country.
  • 2> Gold consumption in Mumbai would also one of the important factors which can effect the price in the city.
  • 3> Import of the gold in the country will also be considered one of the factors which will take direct impact on the gold price in Mumbai.
  • 4> International market again play’s very important role in gold price fluctuation.

Silver price in Mumbai also get effect because of all above 4 points.

Buying large amount of gold in Mumbai in chunk

Buying large amount of gold in Mumbai is always a risky job as the price of gold in Mumbai at Maharashtra is never be fixed and keep on fluctuating every day. Hence, Buyers might buy gold at higher price if in case next day the price goes down. Another problem is that when they buy gold in cash through illegal income then they might be caught by tax authority as buying gold in large chunk sp. more than 2 lakhs required the pan card. One more reason is that post Demonetization, government is very strict in buying anything in case and more to say it has post restriction of taking out cash more than 3 lakhs hence buyers have to pay via electronic medium or through bank cheques. This is largely in compliance with what the authorities require for tax purposes.

Why it is advisable to buy hallmarked gold jewelry in Mumbai?:

In order to not get cheated while buying gold in Mumbai, it is always advisable to buy gold from authorized shops that sell hallmarked jewelry. People from city before buying gold should know the gold price of the day and silver price for the day then they can go ahead to buy Hallmarked gold buying in City. Hence, if they are looking at 916 hallmarked gold in Mumbai, then they must understand that the same would be hallmarked by some of the essaying centre, allocated by the Bureau of Indian standards. The BIS as it is popularly called has earmarked these essaying centre.

Where to purchase gold in Mumbai?

There are several organized and un-organized gold shops in Mumbai from where people can buy gold in Mumbai. Mumbai since being financial hub have many big re-known shops for gold jewelry and also since bollywood stars go to organized retails buy gold in every city there are some fix places where the gold shops are located in groups in order to create the hub for gold market. In Mumbai, gold shops are located in many parts of the cities and also in scattered way. Buyers from Mumbai who are looking to buy gold in Mumbai can find the list of gold and silver shop in Mumbai in this website. If they wanted to buy or invest in gold in city then they may find the BIS listed shops unlike the Zaveri Bazaar of Mumbai, where there is a heavy concentration of jewelry shops in the city.

Is it worth to invest in Gold schemes in Mumbai?

At Mumbai, gold Investors may often ask whether it is worth investing in these schemes or not. Simple answer to the question is that gold market trend should be watched before they take any decision. However, it is always a good idea if you are planning an anniversary or birthday gift to stay invested in gold schemes. Also, there are many jewellers who lock the prices of gold, the day you make the deposit in the scheme. So, this way you are hedged against risks of any sharp drop or rise in the prices of gold.

Daily gold rate in Mumbai and Monthly gold rate in Mumbai

Gold rate in Mumbai can be check daily, weekly and monthly. Gold rate trend in Mumbai can be check here where user can get the gold price in monthly basis. Mumbai gold price today can be check daily on the website. Gold price comparison in city is also available if buyer wanted to compare the gold price in city. Hence, they can track the daily gold price change and also compare the gold and silver price between present to last day and present to same date last month. Trading starts very early even before some shops open, so it is better to check the gold rate trend in Mumbai and Mumbai silver rate trend. Gold and silver price in the spot market (that is at your local jewelers) would be higher, they can go ahead and see the rates on the MCX, which is also known as the multi commodity exchange.

Difference between spot gold and gold futures in Mumbai

In Mumbai, there is very thin line difference spot gold and gold future. Spot gold is the investment that an individual makes in gold coins, bars etc while in the futures market one buy the precious metal and settles the contract at a later date. While checking the gold rate in Mumbai buyers should know the spot gold in Mumbai and gold future. The futures market is always risky as the exposure is way too high while exposure is limited in the spot market, as one has to pay cash and buy the precious metal. In the futures market one just pays the requisite margin money and squares up the position before the contract expires.

Benefits of buying Gold coins vs Gold ETFs Vs Gold Jewelry in Mumbai

Gold price in Mumbai varies for the way of product we buy. Hence, Buyers in the city have many options to buy gold in Mumbai today in many forms like gold coins, gold jewelry and gold ETFs. If they buy gold jewelry then may not get the making charges back as well as tax are applicable when you buy gold coins therefore, both will lead to increases the costs of the gold. So, if a 10 per cent cost escalation happens, due to taxes, you need gold prices to rally by at least another 8 to 10 per cent, to get a decent return. So, in order to make decent returns gold has to gain at least 20 per cent. On the other hand if city gold buyers if buy gold ETFs then it is a much better proposition simply because they get better value for their gold.

Gold in futures markets vs spot market in Mumbai

Mumbai Gold Buyers today can buy gold in two ways:

  • 1> Spot market: Gold buyers from Mumbai can buy the gold from local jewellers shop or through the futures market by paying the entire amount and take possession of the gold.
  • 2> Futures market: While unlike of spot market, Mumbai city gold buyers only pay margin money, probably of 10 per cent and therefore, they have higher exposure by paying very less. This is of course very risky way of buying and selling gold, but, you can also end-up making higher money.

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Gold Rate Review for Gold Rate in Mumbai

  1. Rahul February 25, 2017
    Gold Rate in Mumbai
    5 out of 5

    Very good website. Gold rate is always updated

    Kanish May 02, 2015
    Gold Rate in Mumbai
    5 out of 5

    pls tell me what is the simple way to find gold rate

    Badri May 02, 2015
    Gold Rate in Mumbai
    5 out of 5

    too fast and too good….!!

    Chintav May 02, 2015
    Gold Rate in Mumbai
    4 out of 5

    pls. send me the gold price at my email id

    Sarvag May 02, 2015
    Gold Rate in Mumbai
    4 out of 5

    gold and silver price n my city

    raman May 02, 2015
    Gold Rate in Mumbai
    3 out of 5

    price are looking correct but are they real time updated.

    Srijesh May 02, 2015
    Gold Rate in Mumbai
    4 out of 5

    hey what is the yesterday gold price

    Gagan May 02, 2015
    Gold Rate in Mumbai
    5 out of 5

    gold rate today … do you also sell the gold

    Rocks May 02, 2015
    Gold Rate in Mumbai
    3 out of 5

    gold and silver price is current need. Good work

    Soumil May 02, 2015
    Gold Rate in Mumbai
    4 out of 5

    pls. update the jewellery cost also

    Atul May 02, 2015
    Gold Rate in Mumbai
    5 out of 5

    can you make your website more like gold and silver

    Anil September 02, 2014
    Gold Rate in Mumbai
    3 out of 5

    I am planning to buy 1KG gold, can anyone suggest how I can buy it?

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