Gold Rate in Mumbai

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.