Gold rate today in Mumbai
Indicative 24K, 22K and 18K gold rates for Mumbai, Maharashtra, derived from live international spot and updated continuously while markets are open. Silver included. The full formula is published — nothing here is hand-entered. Compare all cities to see where this one sits.
Gold rate in Mumbai for the last 10 days
Daily closing rates per 10 grams, ex-GST, so you can see the direction without opening a chart. Historical prices are converted at today's exchange rate.
| Date | 24K | 22K | 18K | Change |
|---|---|---|---|---|
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How this rate is worked out
We start from the international spot price of gold in US dollars per troy ounce, convert it to rupees per gram at the European Central Bank's daily reference rate, add India's 6% import duty, and apply a flat trade premium. We treat Mumbai as the base city, so no regional adjustment is applied to it at all. Every other city on this site is quoted relative to the Mumbai figure.
Purities follow exact ratios: 22K is 22/24 of the 24K rate, 18K is 18/24. The methodology page gives every constant, the date it was last checked, and an explicit list of what this figure cannot tell you.
Our Mumbai figure applies a fixed regional adjustment to a nationally derived rate. We do not survey local jewellers or publish any bullion association's rate. Treat it as a well-documented reference level, and expect a counter price to differ. See the risk disclaimer.
The Mumbai market
Mumbai is the reference point for gold pricing in India. The country's bullion imports clear through here, the Multi Commodity Exchange is headquartered here, and the wholesale quotes that other cities mark up or down are set here first.
Zaveri Bazaar in Bhuleshwar is the largest precious-metals market in the country — several hundred jewellers and bullion traders in a few dense lanes off Kalbadevi Road. Wholesale dealing concentrates there, while retail chains cluster along Linking Road, Dadar and Borivali.
Because Mumbai sits closest to the import point, it usually carries the thinnest premium in the country. If you are comparing cities, this is the floor you are comparing against.
24K, 22K and 18K — which one applies to you
| Karat | Hallmark | Purity | Typically used for |
|---|---|---|---|
| 24K | 999 | 99.9% | Coins, bars, investment metal. Too soft for most jewellery. |
| 22K | 916 | 91.6% | The standard for Indian gold jewellery. |
| 18K | 750 | 75.0% | Diamond settings and contemporary designs; harder and more durable. |
Hallmarking by BIS is mandatory for gold jewellery sold in India. Check for the BIS mark, the purity grade and the six-digit HUID before you pay.
What you will actually pay in a shop
The rate above is the metal only. A real invoice in Mumbai adds two things it cannot include:
- Making charges — the jeweller's fee for turning metal into a piece. Set per item and per jeweller, and negotiable in many shops.
- 3% GST — charged on the metal value plus making charges, not on the metal alone.
Our on-site calculator applies both, so it lands much closer to a counter total than the headline rate does. Enter the weight and purity of a piece and it will break the total into metal, making and tax.
Frequently asked questions
Why is the Mumbai gold rate usually the lowest in India?
Mumbai is where imported bullion lands and where the wholesale market clears. Other cities add the cost of moving metal inland plus their own local demand, so they price at or above Mumbai rather than below it.
Is the Zaveri Bazaar rate the same as the rate on this page?
No. Zaveri Bazaar dealers quote their own wholesale prices, which move through the day and vary between dealers. Our figure is derived from international spot plus duty and a flat premium — a reasoned estimate of the level, not a dealer's quote.
Does this rate include GST?
No. Like Indian rate boards generally, our headline figure is ex-GST. You will pay an additional 3% GST on the metal value plus making charges when you buy.
What is the difference between the MCX gold price and this rate?
MCX quotes futures contracts — a price for delivery on a future date, in standard lot sizes. Our figure is a spot-derived retail-style rate per 10 grams. The two track each other but will not match exactly.
Gold rates in other cities
Rates are indicative and exclude GST. Read the methodology, the risk disclaimer and the terms of use.