Gold Rate in Mumbai Today

Todays gold rate in Mumbai:

  • 10g of 24K gold is 47,720 Indian Rupee
  • 10g of 22K gold is 45,450 Indian Rupee
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  • Today's Gold Rate in Mumbai ( 05 Jun 2020 )

    ₹ 4,591
    Today's Gold Rate (22K) per gram

    Compare 22K & 24K Gold Rate In Mumbai (Today & Yesterday)

    Today
    Yesterday
    Rate Change
    Standard Gold (22 K) ( 1 gram ) ₹ 4,591 ₹ 4,590 ₹ 1 ↑
    Standard Gold (22 K) ( 8 grams ) ₹ 36,728 ₹ 36,720 ₹ 8 ↑
    Pure Gold (24 K) ( 1 gram ) ₹ 4,691 ₹ 4,690 ₹ 1 ↑
    Pure Gold (24 K) ( 8 grams ) ₹ 37,528 ₹ 37,520 ₹ 8 ↑

    Daily Gold Rates

    Date Standard Gold (22 K) Pure Gold (24 K)
    1 gram 8 grams 1 gram 8 grams
    04 Jun 2020 ₹ 4,591 ₹ 36,728 ₹ 4,691 ₹ 37,528
    03 Jun 2020 ₹ 4,590 ₹ 36,720 ₹ 4,690 ₹ 37,520
    02 Jun 2020 ₹ 4,608 ₹ 36,864 ₹ 4,708 ₹ 37,664
    01 Jun 2020 ₹ 4,602 ₹ 36,816 ₹ 4,702 ₹ 37,616
    31 May 2020 ₹ 4,599 ₹ 36,792 ₹ 4,699 ₹ 37,592
    30 May 2020 ₹ 4,594 ₹ 36,752 ₹ 4,694 ₹ 37,552
    29 May 2020 ₹ 4,593 ₹ 36,744 ₹ 4,693 ₹ 37,544
    28 May 2020 ₹ 4,586 ₹ 36,688 ₹ 4,686 ₹ 37,488
    27 May 2020 ₹ 4,596 ₹ 36,768 ₹ 4,696 ₹ 37,568
    26 May 2020 ₹ 4,596 ₹ 36,768 ₹ 4,696 ₹ 37,568

    Weekly & Monthly Graph of Gold Rate in Mumbai

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    • 3 Months
    • 6 Months

    *Disclaimer: Bankbazaar makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are susceptible to change with Market value and provided on an as-is basis. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. We accept no liability for any loss arising from the use of the data contained on this website.

    Gold Price in Mumbai

    Mumbai, the commercial capital of India, is also one of the most popular markets for gold in the country. The city has one of the highest concentrations of gold sellers and dealers. Gold rates in Mumbai follow the same trend as international gold price. Gold rates, which are a product of a lot of dynamic factors coming into play, have been more or less stable for this year in Mumbai.

    Gold in Mumbai is available in various forms such as physical gold which includes jewelry, ornaments, coins, bars and ingots etc. Gold is also available for trading as a commodity in the national and international markets. In India, gold can be traded on exchanges such as National Commodity and Derivatives Exchange (NCDEX), Multi Commodity Exchange (MCX) and National Spot Exchange (NSEL).

    Mumbai is also one of the most populated cities in the country. Gold rates in Mumbai are therefore an indication of the buying patterns of a large number of consumers. Gold in the city can be purchased from a wide range of providers, who also happen to be among the largest dealers in the country.

    Trend of Gold Rate in Mumbai for May 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    May 1 Rate Rs.4,641 per gram
    May 31 Rate Rs.4,699 per gram
    Highest Rate in May Rs.4,727 per gram on 24 May and 25 May
    Lowest Rate in May Rs.4,541 per gram on 9 May
    Overall Performance Decline

    May 2020 - Week 1 (1 - 9):

    • The price charged for a gram of the gold at the start of May was Rs.4,641 in Mumbai. The opening price of the gold was the highest recorded gold price for the month to date. Compared to the closing price of the previous month, the rate of gold was up by Rs.6 for every gram in the commercial capital.
    • After slipping slightly on 2nd May, the rates remained stagnant over the next couple of days in the city. Gold price increased on May 4 and 5 as risk appetite waned because of the tensions between the United States and China over the outbreak of novel coronavirus pandemic.
    • Gold closed the opening week of May at Rs.4,541 per gram after the rates dropped in the city following 6th May as the dollar rose to its highest in more than a week. The overall performance saw a decline in the rates of the yellow metal.

    May 2020 - Week 2 (10-16):

    • In Mumbai, gold opened the second week of the month on 10 May at Rs.4,542 per gram with just a marginal rise in prices compared to previous week’s closing price at Rs.4,541 per gram. The metal showed an overall increase in its prices throughout the week with the rise in COVID-19 cases all over the world. On 11 May, the price of the metal had increased marginally as well to Rs.4,543 per gram.
    • On 12 May, gold prices showed a marginal decline at Rs.4,534 per gram with the rise in the United States dollar value in the international market. The rise in dollar value shifted the focus of investors to the markets, declining the demand for the metal. However, on 13 May, gold prices recovered greatly and increased to Rs.4,595 per gram with tensions among China and the United States of America increasing due to the COVID-19 pandemic.
    • The price of the metal on 14 May increased to Rs.4,596 per gram and increased further to Rs.4,621 per gram on 15 May with renewed tensions between China and the United States of America over the ongoing trade deal. However, with the rise in COVID-19 cases on a daily basis, investors shifted to the bullion market for its safe-haven appeal, and the metal’s price hit its highest of the week and the month on 16 May at Rs.4,661 per gram, closing at the same price.

    May 2020 - Week 3 (17 - 23):

    • Gold opened the third week of May at Rs.4,771 per gram in Mumbai. Compared to the closing price of the previous week, there was an increase of Rs.50 for every gram of the yellow metal.
    • In the commercial capital of the country, the rate of the precious metal jumped over the next three days supported by fears of a global recession and a wave of central bank stimulus measures. Gold recorded its highest price for the month in the city on 20th May with a gram costing Rs.4,757.
    • The rates slipped in the city on 21st May as equities gained on the hope of a swift recovery from the coronavirus-induced economic slump. The rates recovered over the last two days of the week and closed at Rs.4,726 per gram. The overall performance of gold witnessed an inclining trend in Mumbai.

    May 2020 - Week 4 (24 - 31):

    • Opening the last week of the month at Rs.4,727 per gram in Mumbai, gold prices showed an overall decline for the week due to various geopolitical factors affecting gold prices in the international market. On 25 May, the price of the metal remained steady at Rs.4,727 per gram in the country, even though gold saw a dip in its prices in the international market due to risk appetite amongst investors with an increase in Japanese equities.
    • On 26 May, gold was priced at Rs.4,696 per gram, with a marginal decline from the highest price of the week on 24 May and 25 May. The price of the metal dipped due to tensions between China and the United States of America and reduced hopes of economic revival amongst investors. After remaining steady on 27 May at Rs.4,696 per gram, the price of the metal on 28 May was Rs.4,686 per gram, dipping marginally by Rs.10. With tensions rising between the two countries, the safe-haven appeal and demand for the metal grew.
    • Increasing marginally to Rs.4,693 per gram on 29 May, the price of the metal showed an inclining trend in the second half of the week, increasing to Rs.4,694 per gram on 30 May. Amidst riots in the United States and a fall in the value of the dollar, the price of the yellow metal on the last day of the week and the month was Rs.4,699 per gram, showcasing a weekly decline in prices, but an overall incline.

    Trend of Gold Rate in Mumbai for April 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    April 1 Rate Rs.4,158 per gram
    April 30 Rate Rs.4,635 per gram
    Highest Rate in April Rs.4,785 per gram on 27 April
    Lowest Rate in April Rs.4,158 per gram from 1 - 5 April
    Overall Performance Incline

    April 2020 - Week 1 (1 - 4):

    • For April, gold prices opened the first week at Rs.4,158 in the financial capital of the country. With India on a 21-day lockdown, buying and selling of the precious metal in the physical market have been very limited.
    • Even though there have been constant fluctuations in the bullion markets all over the world due to the ongoing effect of the Coronavirus on the global economy, the gold prices have held steady in the Indian market. With investors shifting to the bullion market due to safe-haven demand, the gold rates have been set to increase, recovering from hitting lows in the previous week of the month due to extensive selling of assets for cash.
    • Traders have been investing in gold after a poor job data from the United States which limited losses of the metal, amidst a rising dollar. At the end of the first week of April, the gold price closed at Rs.4,158 per gram with no increase or decrease.

    April 2020 - Week 2 (5 -11):

    • Gold opened the second week of April at Rs.4,158 in Mumbai, the financial capital of the country. The rates of the yellow metal saw an incline in the prices over the week.
    • The rates climbed to Rs.4,296 per gram on the 8th of April. The increase in the prices was accounted to investors waiting for clues with regard to further stimulus measures being announce by the US Federal Reserve to mitigate the losses incurred due to the outbreak of the pandemic.
    • Over the next few days, gold prices increased gradually in the city as investors hedged risks ahead of a long weekend and a meeting of OPEC. Gold closed the week at Rs.4,338 per gram, the highest recorded price for the month till date.

    April 2020 - Week 3 (12 - 18):

    • Opening the month at Rs.4,158 per gram, gold was priced at Rs.4,339 per gram at the beginning of the third week in Mumbai on 12 April. The price of the metal had increased throughout the month due to the constant effect of the Coronavirus on the economy. With investors worried about a possible recession, the price of the metal increased in the week. On 13 April, the price of the metal had increased to Rs.4,378 per gram and further increased to Rs.4,393 per gram on 14 April.
    • The price of the precious metal, on 15 April further increased to Rs.4,447 per gram hovering around the 7-year highs. The price of the metal on 16 April increased marginally to be priced at Rs.4,458 per gram due to weakening retail sales which provided a boost to the bullion market and investing in the metal due to safe-haven demand. With investors speculating a possible recession, the metal hit its monthly and weekly high at Rs.4,479 per gram on 17 April.
    • In the last day of the month, the price of the metal fell by more than Rs.100 per gram due to increased risk appetite amongst investors. With United States President, Donald Trump announcing plans to restart the economy in the country, focus of traders shifted to the stock market and away from the bullion. At Rs.4,330 per gram, the price of the metal closed the week on 18 April, recording an overall incline in weekly prices.

    April 2020 - Week 4 (19 - 25):

    • In Mumbai, the financial capital of the country, a gram of the 24-karat gold was retailed for Rs.4,321 at the start of the fourth week of April. Over the week, the rates witnessed an inclining trend in the metropolitan city.
    • The rates of the yellow metal slipped in the metropolitan city on 21st April after increasing by 1 percent in the previous session. The drop in the prices was recorded as the dollar firmed. Gold was priced at Rs.4,311 per gram on 22nd April in the city.
    • Gold prices increased in the metropolitan city following as hopes were pinned for more fiscal and monetary stimulus measures amid massive economic damage due to business shutdown orders around the world to contain the spread of Covid - 19. The yellow metal closed the week at Rs.4,551 per gram, the highest for the month till date with the overall performance showing an incline in the rates.

    April 2020 - Week 5 (26 - 30):

    • In Mumbai, the precious metal opened the last week of the month at Rs.4,562 per gram on 26 April and showed fluctuating prices throughout the week. The metal hit its highest price of the month at Rs.4,785 per gram on 27 April amidst declining trends in the international market.
    • The price of the metal dipped on 28 April at Rs.4,631 per gram with investors booking profits on the higher prices of the metal. Due to this, gold prices in the city showed a decline. However, on 29 April, gold prices increased yet again at Rs.4,716 per gram with speculations of central banks releasing stimulus packages to restart the economy.
    • At the end of the week, the price of gold dropped at Rs.4,635 per gram even though the metal displayed positive trends in the international market and was set to hit new highs. The metal closed the month at Rs.4,635 per gram on 30 April, recording an overall incline in its prices.

    Trend of Gold Rate in Mumbai for March 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    March 1 Rate Rs.4,263 per gram
    March 31 Rate Rs.4,158 per gram
    Highest Rate in March Rs.4,531 per gram on 7 March
    Lowest Rate in March Rs.4,116 per gram on 18 March
    Overall Performance Decline

    March 2020 - Week 1 (01 - 07):

    • Gold was priced at Rs.4,264 per gram in Mumbai at the beginning of March and increased throughout the week due to increased safe-haven demand amidst the increasing tensions regarding Coronavirus and its effect on the economy. The price of the gold was said to increase but held steady on 2 March at Rs.4,264 per gram due to a strong U.S. dollar capping its gains in the international market.
    • The financial capital of the country saw gold prices increasing substantially on 3 March at Rs.4,305 per gram. With rising expectations amongst investors on the interest rates being cut to support the economy along by the Central Banks of the countries. By 4 March, the gold price had increased to Rs.4,452 per gram. The rise in prices by 3% was due to an emergency rate cut by the United States Federal Reserve to help mitigate the effect of the virus on the economy.
    • On 5 March, the price of gold had increased to Rs.4,452 per gram and held steady until 6 March as the United States of America showed positive data along with stronger equities. This resulted in gold holding steady with no further rise in its prices. However, gold prices increased on 7 March and crossed the $1,700 per ounce mark for the first time in 7 years. In Mumbai, gold closed the first week of the month at Rs.4,531 per gram with an overall incline in prices.

    March 2020 - Week 2 (8 - 14):

    • In Mumbai, gold was priced at Rs.4,531per gram at the start of the second week of March and remained unchanged for the next day. Compared to the closing price of the previous week, the rates of the precious metal didn’t see any change.
    • The rates slipped on 10 March as risk sentiment improved and the dollar firmed on expected global support measures to reduce the economic impact due to the outbreak of coronavirus. A gram of the 24-karat gold was sold for Rs.4,494 in the commercial capital.
    • In the last three days of the week, gold prices slipped by Rs.225 for every gram and closed the week at Rs.4,253 per gram, the lowest for the month. The slip in the prices was accounted to investors shunning risky assets keeping in view the travel ban imposed by the United States from virus-hit Europe, panic selling driven by intensifying fears over the coronavirus pandemic and gold prices heading for its biggest weekly loss since 1983 with investors embarking on a selling spree. In Mumbai, a declining trend was witnessed in the prices of gold over the week.

    March 2020 - Week 3 (15 - 21):

    • In the financial capital of the country, the price of the gold opened the third week of the month at Rs.4,253 per gram and showed a declining trend in its prices throughout the week due to Coronavirus fears and investors dumping assets to convert them into cash and have liquidity in the time of a lockdown. The gold price held steady on 16 March at Rs.4,253 per gram as well with the United States Federal Reserve cutting down repo rates to help the economy. However, that did not change the rate of gold in the city.
    • Gold prices on 17 March, however, dipped to Rs.4,221 per gram with investors constantly selling their assets in exchange of cash and this hoarding resulted in the lowering in prices of the gold. On 18 March, the gold prices dipped yet again and hit its lowest price of the month and the week at Rs.4,116 per gram. The effect of the rate cut by the U.S. Federal Reserve was minimal as it did not stop investors from hoarding for cash.
    • The European Central Bank to help the economy recover took adequate measures and the price of the gold increased to Rs.4,190 per gram on 19 March. With the increased risk-sentiment amongst investors, the gold price increased momentarily. However, on 20 March, gold was priced at 4,158 per gram dipping marginally with traders going back to the process of hoarding cash. The metal closed the third week of March at an overall decline at Rs.4,158 per gram.

    March 2020 - Week 4 (22 - 31):

    • In Mumbai, the financial capital of the country, the price of gold stood at Rs.4,158 per gram on 22nd March. The rates remained the same when compared to the closing price of the previous week.
    • While gold rates fluctuated in the global market, the rates of the yellow metal didn’t see any change in the commercial capital over the final week of March. In the international market, investors liquidated their positions in the safe-haven metal despite stimulus measures being announced to combat the economic damage caused by the coronavirus pandemic.
    • Gold closed the week in Mumbai at the opening price of the week i.e., Rs.4,253 per gram as the government imposed a 21-day lockdown with effect from March 25 to contain the spread of the deadly virus. The rates of the precious metal witnessed a declining trend in the commercial capital.

    Trend of Gold Rate in Mumbai for February 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    1st February Rate Rs.4,179 per gram
    29th February Rate Rs.4,358 per gram
    Highest Rate in February Rs.4,410 per gram on 25 February
    Lowest Rate in February Rs.4,132 per gram on 7 February
    Overall Performance Incline

    February 2020 - Week 1 (1 - 9):

    • In the financial capital in the country, gold prices opened the month of February at Rs.4,179 per gram and showed an overall decline in prices at the end of the week. The metal’s prices fluctuated due to various factors playing a role, most importantly the role of Coronavirus on the global economy.
    • After holding steady till 3 February, the price of the metal hit its highest on 4 February at Rs.4,184 per gram as the virus took more lives in China, endangering even more. The price of the metal on 5 February dipped marginally to Rs.4,158 per gram due to the impact of measures taken by China to minimise the impact of the virus on the economy. This sparked an increase in risk appetite amongst investors.
    • The price of the metal dipped further in the city due to muted demand amongst mixed global trends. On 7 February, gold hit its lowest price of the week and month till date at Rs.4,132 per gram. At the end of the week, the metal closed the first week of the month at Rs.4,174 per gram as the effect of the Coronavirus intensified in China with more deaths being reported.

    February 2020 - Week 2 (10 - 16):

    • In the commercial capital of the country, a gram of the 24-karat gold was sold for Rs.4,174 on 10 February. There was no change in the rates when compared to the previous week’s closing price.
    • Over the week, gold prices saw a lot of fluctuations in Mumbai. The rates dropped to Rs.4,158 per gram on 13 February. The dip in the prices was accounted to increased risk appetite of investors following reports of a decline in confirmed new coronavirus cases.
    • The price of the yellow metal increased gradually towards the end of the week. The increase in the rates was accounted to investors betting on the safe-haven metal to cover against the economic impact of coronavirus. Gold closed the week at Rs.4,174 per gram in Mumbai with the overall performance showing a decline in the prices.

    February 2020 - Week 3 (17 - 23):

    • With the Coronavirus outbreak intensifying with an increased number of cases and deaths all over the world, the price of the metal in Mumbai opened the third week of February at Rs.4,174 per gram. The metal’s prices showed an inclining trend throughout the week and also hit its highest price in the year till date. On 19 February, the price of the metal increased to Rs.4,211 per gram.
    • After holding steady on 20 February at the same price, with more investors shifting to the bullion market due to increased safe-haven demand, gold prices increased Rs.4,237 per gram on 21 February and held steady on 22 February as well.
    • Amidst the fears of the Coronavirus and its effect on the global economy, the local demand of the metal in the country also played a major role in the increase in prices. On 23 February, the price of the metal increased and hit its monthly high till date at Rs.4,358 per gram and closed the week at the same price.

    February 2020 - Week 4 (24 to 29):

    • The price of gold opened the fourth week of February at Rs.4,358 per gram in Mumbai. There was an increase of Rs.21 for every gram when compared to the closing price of the previous week.
    • After holding steady for the next day, the rates jumped to its highest for the month in the commercial capital. A gram of the 24-karat gold was retailed for Rs.4,410 as a warning from the United States over the domestic spread of the coronavirus outbreak rattled global markets, supporting safe-haven demand.
    • Gold closed the final week of the month in Mumbai at Rs.4,358 per gram as investors moved away from riskier assets as fears of a pandemic heightened as coronavirus infections surged in Italy and Iran. An inclining trend in the prices of gold was witnessed over the month of February in the commercial capital.

    Trend of Gold Rate in Mumbai for January 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    January 1 Rate Rs.3,985 per gram
    January 31 Rate Rs.4,179 per gram
    Highest Rate in January Rs.4,216 on 9 January
    Lowest Rate in January Rs.3,985 on 1 January
    Overall Performance Incline

    January 2019 - Week 1 (01 - 05):

    • In Mumbai, gold prices opened the new year and decade at Rs.3,985 per gram with no chance compared to December’s closing price. The price of metal showed an upward trend due to various global factors which including the fall of the dollar and rise in political tensions.
    • The price of the metal increased to Rs.4,011 per gram on 2 January and was steady till 3 January 2020. This was majorly due to a fall in the value of the dollar in the global market as the first phase of the trade deal was being finalised.
    • On 4 January, gold prices shot up to Rs.4,064 per gram after President Trump’s remarks about Iran sparked escalated tensions in the Middle East. This was when a drone strike by the United States of America resulted in the killing of the Commander of Iran’s elite Quds Force.
    • Gold prices increased further to be priced at Rs.4,095 per gram and closed the first week of the year and month almost hitting the highest price of the metal in 7 years. This was mainly due to the Iran-U.S. tensions which resulted in investors shifting to the bullion as safe-haven.

    January 2019 - Week 2 (06 - 12):

    • In Mumbai, the price of gold was Rs.4,095 per gram on 6 January marking the beginning of the second week of January. Compared to the closing price of the previous week, the metal’s prices had increased marginally by Rs.31 per gram. In the second week, gold prices fluctuated to a great extent amidst tensions between the United States of America and Iran.
    • On 7 January, the price of the metal increased to Rs.4,169 per gram and hit the highest price in the month at Rs.4,216 per gram on 9 January. The sudden rise in prices was due to the investors awaiting developments on the response of the United States of America on the attack by Iran.
    • However, in the second half of the week, gold saw a major dip in prices. As United States President Donald Trump decided not to retaliate, the risk appetite amongst investors increased. The traders shifted their investments to the stock market, resulting in gold prices closing the week at a low price of Rs.4,095 per gram.

    January 2019 - Week 3(13 - 19):

    • In Mumbai, the price of gold opened at Rs.4,095 per gram on 12 January. The metal showed a declining trend in the city due to various geopolitical factors. As the trade deal between China and the United States of America had been finalised, the price of the metal dipped due to increased risk appetite amongst investors. On 14 January, the price of the metal had marginally dipped to Rs.4,074 per gram.
    • On 15 January, as the interim Phase 1 deal was signed between the two countries, the price of the metal remained steady at Rs.4,074 per gram. This was mainly due to steady demand and a firm trend overseas due to renewed speculations on the trade deal by investors in the unresolved issues. The price of the metal remained steady until 18 January.
    • While global demand had increased for the yellow metal, Mumbai saw a marginal decline in prices to Rs.4,064 per gram. Even amidst geopolitical tensions escalating in the Middle East with the drone strike on Yemeni soldiers, the traders shifted to the bullion for its safe-haven appeal. However, the rise in demand didn’t affect its prices in Mumbai. Gold closed the week at Rs.4,064 per gram.

    January 2020 - Week 4 (20 - 26):

    • Gold prices stood at Rs.4,064 per gram on 20 January in Mumbai. There was no change in the rates of the yellow metal when compared to the previous week’s closing price.
    • The rates shot up to Rs.4,116 per gram on 22 January with investors seeking refuge in the safe-haven metal rates given concerns regarding tensions in the Middle East and the outbreak of Coronavirus in China.
    • In the commercial capital, gold prices slipped to Rs.4,090 per gram the next day as investors assessed the risk of the deadly virus becoming a global epidemic. The rates remained unchanged over the next couple of days before closing the week at Rs.4,137 per gram in Mumbai.

    January 2020 - Week 5 (27 - 31):

    • Gold prices in Mumbai opened the last week of the month at Rs.4,137 per gram and held steady on 28 January as well. As the Coronavirus spread through the globe recording a higher number of cases and deaths, the price of the metal increased due to safe haven demand. Investors took into stock the effect of the virus on the market.
    • On 29 January, the price of the metal increased marginally to Rs.4,158 per gram due to increased fears hovering around the virus and the World Health Organisation declaring it a Global Emergency. Investors also shifted to the bullion awaiting the decision on further rate cuts by the United States Federal Reserve.
    • The price of the metal on 30 January dipped marginally to Rs.4,121 per gram as investors in India awaited the updates Union Budget 2020 scheduled for 1 February 2020. The demand for the metal in the country was muted momentarily. However, on 31 January, gold prices increased to Rs.4,179 per gram and closed at the same price.

    Trend of Gold Rate in Mumbai for December 2019 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    December 1 Rate Rs.3,917 per gram
    December 29 Rate Rs.3,875 per gram
    Highest Rate in December Rs.3,948 per gram on 5 and 6 December
    Lowest Rate in December Rs.3,854 per gram on 12, 13 and 14 December
    Overall Performance Decline

    December 2019 – Week 1 (1 – 8):

    • The price of gold in Mumbai witnessed a declining trend in the final week of November. Gold opened the week at Rs.3,906 per gram. Compared to the previous week’s closing price, the rates didn’t see any change.
    • The rates remained constant for the next few days as traders decided to wait for further developments regarding the US-China trade deal.
    • However, with no clear signs of there being a trade deal and China warning the United States of firm counter measures if they backed the anti-government protests in Hong Kong, the rates slipped to their lowest for the month on 29 November with every gram costing Rs.3,885 before closing the week at the same price.

    December 2019 – Week 2 (9 – 15):

    • Gold price in Mumbai stood at Rs.3,896 per gram on December 9. Compared to the previous week’s closing price, the rates of the yellow metal didn’t see any change.
    • The rates of gold dropped considering over the next few days as investors preferred to adopt a wait and watch approach regarding new US tariffs on Chinese products and the US Federal Reserve’s monetary policy statement.
    • Gold rates in Mumbai climbed on the final day of the week as gold’s safe-haven appeal increased due to political tensions in the world’s biggest economy. The yellow metal closed the week at Rs.3,875 per gram with the overall performance trending downwards.

    December 2019 - Week 3 (16 - 22):

    • Gold price in Mumbai opened the third week of the month at Rs.3,875 per gram on 16 December. The yellow metal didn’t see any change compared to the previous week’s closing price.
    • The price of the metal increased marginally to Rs.3,890 per gram on 18 November as investors awaited trade deal developments. Gold did dip marginally as well due to the rise in the value of the dollar in the market along with United States Federal Reserve not cutting interest rates anytime soon.
    • By the end of the week, gold prices had crossed the Rs.3,900 per gram mark as investors shifted to the bullion as safe-haven due to the impeachment of United States President, Donald Trump. The metal closed the week at Rs.3,901 per gram on 22 December.

    December 2019 - Week 4 (23 - 29):

    • Gold price in Mumbai opened the third week of the month at Rs.3,875 per gram on 16 December. The yellow metal didn’t see any change compared to the previous week’s closing price.
    • The price of the metal increased marginally to Rs.3,890 per gram on 18 November as investors awaited trade deal developments. Gold did dip marginally as well due to the rise in the value of the dollar in the market along with United States Federal Reserve not cutting interest rates anytime soon.
    • By the end of the week, gold prices had crossed the Rs.3,900 per gram mark as investors shifted to the bullion as safe-haven due to the impeachment of United States President, Donald Trump. The metal closed the week at Rs.3,901 per gram on 22 December.

    Trend of Gold Rate in Mumbai for November 2019 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    November 1 Rate Rs.3,938 per gram
    November 30 Rate Rs.3,885 per gram
    Highest Rate in November Rs.3,980 per gram on 4 - 8 November
    Lowest Rate in November Rs.3,885 per gram on 29 and 30 November
    Overall Performance Decline

    November 2019 – Week 1 (01-03):

    • On 1 November, gold prices in Mumbai opened at Rs.3,938 per gram and were keeping steady at the same price on 2 November as investors awaited on the outcome of the trade talks between the United States of America and China.
    • Apart from the trade talks, positive job data from China as well as the United States of America strengthened the market, resulting in investors shifting away from the bullion.
    • However, the price of gold increased in Mumbai to hit the weekly high at Rs.3,890 due to increased local demand in the city.

    November 2019 – Week 2 (04-08)

    • Gold prices in Mumbai saw a steady incline opening the month at Rs.3,938 per gram and keeping steady as investors awaited updates on the trade deal between the United States of America and China.
    • On 4 November, the price of the precious metal increased to Rs.3,980 per gram amidst weak global trends, due to steady local demand. In the global markets, the price of gold saw a declining trend due to trade deal optimism which increased risk appetite amongst investors.
    • However, on increasing to Rs.3,980 per gram on 4 November, the price of gold held steady until the end of the week on 8 November due to fluctuating prices and declining global trends.

    November 2019 – Week 3 (09-17):

    • Gold rates opened the third week of November at Rs.3,948 per gram in Mumbai. A fluctuating trend was seen over the week when it came to the prices of the precious metal.
    • The rates plummeted to Rs.3,901 per gram on 12 November due to positive developments regarding a trade deal between the United States and China and investors shifting to the stock market.
    • The prices of the precious metal recovered slightly in the last few days of the week as investors shifted to the bullion after there was no clear signs of a trade pact between the countries. Gold closed the week in Mumbai at Rs.3,927 per gram.

    November 2019 – Week 4 (18 - 24):

    • In Mumbai, the price of gold saw a declining trend due to trade tensions increasing in the fourth week of November. Opening the week at Rs.3,927 per gram, gold prices held steady until 23 November.
    • As the impeachment inquiry was underway on United States President Donald Trump, investors awaited on the developments in the trade talks between China and the United States of America. China invited officials from the United States of America for a face-to-face meeting to discuss negotiations on the trade deal.
    • However, on 24 November, the price of the metal dipped to reach near the one month low at Rs.3,906 per gram as investors shifted back to the stock market on a strong trend in U.S. jobs data which increased the value of the dollar. The metal closed the week at Rs.3,906 per gram.

    November 2019 – Week 5 (25 - 30):

    • The price of gold in Mumbai witnessed a declining trend in the final week of November. Gold opened the week at Rs.3,906 per gram. Compared to the previous week’s closing price, the rates didn’t see any change.
    • The rates remained constant for the next few days as traders decided to wait for further developments regarding the US-China trade deal.
    • However, with no clear signs of there being a trade deal and China warning the United States of firm counter measures if they backed the anti-government protests in Hong Kong, the rates slipped to their lowest for the month on 29 November with every gram costing Rs.3,885 before closing the week at the same price.

    Trend of Gold Rate in Mumbai for October 2019 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    Rate on 1st October Rs.3,864 per gram
    Rate on 31st October Rs.3,969 per gram
    Highest Rate in October Rs.3,969 per gram on 28 October - 31 October
    Lowest Rate in October Rs.3,806 per gram on 2 and 3 October
    Overall Performance Incline

    October 2019- Week 1 (1-6):

    • The month began with gold rate in Mumbai trading at a static Rs.3,864 per gram and prices dropped to Rs.3,806 per gram on 2 October on sluggish retail offtake.
    • Conflicting overseas cues and the high import cost of gold also dented demand, before a steep fall in equities pushed gold price in Mumbai to Rs.3,864 per gram on 4 October.
    • An increase in jeweller demand and rising overseas interest in bullion raised prices sharply, as the metal ended the week at Rs.3,917 per gram.

    October 2019- Week 2 (7-13):

    • Gold price in Mumbai opened the month at Rs.3,864 per gram and increased to a great extent in the second week of the month. Gold hit its weekly high on 10 and 11 October at Rs.3,948 per gram amidst an increase in local demand and positive global trends.
    • Ahead of the Federal Reserve’s decision of interest rate cuts, the price of gold increased slightly as Turkey launched a military operation in Syria increasing tensions in the Middle East.
    • However, soon after hitting the weekly highs, gold rate in Mumbai slipped due to renewed trade optimism and increased risk appetite for the investors. Gold closed the week, priced at Rs.3,917 per gram.

    October 2019- Week 3 (14-20):

    • Gold prices in Mumbai opened the week at a low of Rs.3,917 per gram due to renewed optimism of the Brexit talks along with ease in trade talk tensions.
    • However, the price of the metal increased through the rest of the week as the U.S. government’s stance on Hong Kong could have a chance in hampering the trade negotiations. Due to this, gold prices increased to Rs.3,938 per gram.
    • On hitting the weekly high of Rs.3,938 per gram on 19 and 20 October, gold prices closed on a higher note due to investor concerns on global growth, uncertainty on the Brexit deal, and increased local demand as well.

    October 2019- Week 4 (21-27):

    • The price of gold in Mumbai was Rs.3,938 per gram on 21 October and held steady due to speculations of investors about the trade talks between the United States of America and the Brexit deal between the European Union and Great Britain.
    • On 25 October, the price of gold was holding steady at Rs.3,938 per gram due to stagnant local demand and investors awaiting clarity on the Brexit Deal. However, soon after, gold prices hit near 2-week highs due to local demand increased ahead of the festive season.
    • The price of the precious metal increased to Rs.3,969 per gram on 26 October and 27 October due to weak U.S. economic data hinted on another rate cut by the Federal Reserve making it the best week in more than 1 month. Uncertainty around the Brexit deal also lifted gold prices.

    October 2019- Week 5 (28-31):

    • The price of gold in Mumbai opened the last week of the month at Rs.3,969 per gram and held steady throughout as the local demand was stagnant and due to positive cues on the trade talks between China and the United States of America.
    • Gold prices remained the same on 29 October and 30 October amidst a trade delay between the two economic superpowers. In the meantime, traders and investors kept a lookout for the rate cuts by the United States Federal Reserve.
    • On 31 October, the precious metal closed the week and month at Rs.3,969 per gram even though the United States dollar weakened in the economy and due to steady local demand.

    Trend of Gold Rate in Mumbai for September 2019 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    September 1 Rate Rs.3,953 per gram
    September 30 Rate Rs.3,864 per gram
    Highest Rate in September Rs.4,011 per gram on 6 September
    Lowest Rate in September Rs.3,833 per gram on 15,16 and from 20-23 September
    Overall Performance Decline
    Percentage Change -2.25%

    September 2019- Week 1 (1-8):

    • Gold price in Mumbai opened the month at Rs.3,953 per gram on steady jeweller demand and positive global cues, remaining constant for a few days.
    • Increased turbulence and falling equities buoyed demand for bullion as gold rate in Mumbai rose to Rs.3,980 per gram on 4 September, though retail demand remained sluggish due to rising import costs.
    • The gold price jumped to Rs.4,011 per gram on 6 September on news of an economic stimulus, but prices dropped to Rs.3,938 per gram on 8 September as equities gained.

    September 2019- Week 2 (9-15):

    • Despite the ongoing festive season, there was a drop in gold rate in Mumbai after the metal opened unchanged at Rs.3,938 per gram.
    • Weak overseas cues and a rally in equities increased risk appetite, which dented bullion demand as gold dropped to Rs.3,917 per gram on 10 September.
    • Prices remained unchanged for a few days but a possible resolution to the Sino-U.S. trade dispute saw the old price in Mumbai dip further to Rs.3,833 per gram on 15 September.

    September 2019- Week 3 (16-22):

    • Despite the ongoing festive season, there was a drop in gold rate in Mumbai after the metal opened unchanged at Rs.3,833 per gram.
    • Weak overseas cues and a rally in equities increased risk appetite, which dented bullion demand as gold price in Mumbai dropped to Rs.3,864 per gram on 19 September.
    • Prices remained unchanged for a few days but a possible resolution to the Sino-U.S. trade dispute saw the precious metal dip further to Rs.3,833 per gram on 22 September.

    September 2019- Week 4 (23-30):

    • Gold rate in Mumbai opened at a static Rs.3,833 per gram on 23 September as weak overseas trends and a steady dollar dented local bullion offtake.
    • Prices surged to Rs.3,875 per gram on 24 September.
    • Despite a weak rupee, gold prices in Mumbai opened unchanged at Rs.3,948 per gram before surging to Rs.4,010 per gram on 27 September on rising investor interest and jeweller orders.
    • The gold price in Mumbai settled at Rs.3,953 per gram on 28 September as markets regularised on news of U.S.-China trade negotiations, which kept prices stable.
    • There was no change in price for the rest of the week as a strong dollar rate dented retail demand, though steady overseas cues capped losses as the metal recorded a 10.06% rise in value during the month.

    Also Check Gold Price in Metro Cities

    Gold as Investment in Mumbai

    Gold also doubles up as investment portfolios for a large number of Indians. This is because gold has a reputation of offering stable and assured returns to consumers in both the short and long terms. This has instigated consumer to opt for gold instead of savings accounts or even equity markets, as the volatility of the equity markets is looked upon with caution by consumers in Mumbai. Major avenues of investment in gold in the city include:

    Jewelry: As with most of the country, consumers in Mumbai are also obsessed with gold jewelry and ornaments. Gold jewelries form an integral part of the Indian society and are used in festivals, occasions such as marriages and also as a savings investments.

    Coins: Gold coins are primarily available from various banks in and around the city. The rate of gold coins in the city is slightly above the gold traded rates. Gold coins are available in different purities. Several private dealers also provide marked gold coins.

    Bullions: Gold bullions are available from several dealers in Mumbai. While buying pure gold in the form of bars or ingots, it is advisable to go for the largest or well-established dealers only as these are typically very pricey buys and some sort of guarantee on the product becomes a necessity.

    How do Gold prices change in Mumbai?

    Like every other city and state in the world, gold prices in Mumbai change due to a number of factors, all of which contribute to either bring the rates up and down. Here are some of the key aspects that determine prices of gold in Mumbai:

    • Rates set by the Indian Bullion Jewellers Association (IBJA):

    IBJA, as the name suggests, is the association of all the gold jewellers in and around the country. This organisation is the one responsible to set gold rates in each city. When setting the rates, the company takes into account the following information:

    • The rates set by some of the largest gold dealers in a particular city.
    • Import duty, which is often different to each city.
    • Rates in the Multi Commodity Exchange (MCX) index. MCX is basically a exchange facility where goods and precious metals are bought and sold. Gold price changes are primarily decided based on the performance of this market.

    Hallmarking centres in Mumbai

    As per the data made available by the Bureau of International Standards (BIS), there are over 63 hallmarking centres in Maharashtra. Hallmarking centres are basically certified organisations which test metals for authenticity against various standardised variables. In Mumbai, there are centres like Leo Analytics Lab (Borivali), Variety Hallmarking (Mahakali Caves), and Varsha Bullion Hallmarking Centre (Mumbadevi), etc. However, the government is not satisfied with the number of centres in the city and is considering opening several more so as to maintain the exact standards of gold available for purchase.

    The issue of tax on Gold and Gold ETFs in Mumbai

    People who tend to buy and sell precious metal like gold are required to pay a capital gains tax, which is based on the overall profit they make. If you are making a profit on your gold within 36 months of acquiring it, you are required to pay taxes based on the tax slab you fall under. On the other hand, if your profit comes after 36 months, you will have to pay a tax of 20%.

    Also Check Gold Price in NearBy Cities of Mumbai

    Storing Gold in Mumbai

    The issue of storage, especially when considering precious metals like gold is a long-drawn one. However, if you are looking for the right place to store gold, you can look into any of the lockers provided by a bank near you. Banks usually offer storage space for a surcharge and will also allow you withdraw them whenever you like. If you have gold in large quantity, it is advisable to store them in a locker. However, if you have a small quantity of the metal, it is rather better if you store them in a locker in your house. This would help you save on storage charges you’d otherwise pay the bank. Doing so will also save you the round trip you will have to take to the bank in order to use the gold for any festive occasion. Gold storage rentals in Mumbai typically start from Rs.5,000 per year for a small space. So, its better for you to take a call whether and not you will need a storage depending on the amount of gold you own.

    Also Check Petrol Price and Diesel Price in Mumbai

    Read more on Gold

    News About Mumbai Gold Rate

    • Prices of gold fall for the second time in three days on 1 June 2020

      Despite an increase in the international markets, the prices of gold in India were muted on 1 June 2020. Gold futures prices for the month of August on MCX reduced by 0.21% and are at Rs.47,007 for 10 grams.

      This is the second time in three days that the prices of gold have reduced. In the international markets, the prices of gold increased due to the tensions between China and the US and the protests in certain cities in America. Spot gold prices increased by 0.4% and were at $1,733 for an ounce. According to a research analyst at Anand Rathi Share, Jigar Trivedi, gold prices on MCX reduced slightly in the early trade. However, the prices of gold will be supported by the tensions between the US and China and the protests in America due to the death of George Floyd. In America, protestors have taken to the streets to protest over George Floyd’s death increasing fears that coronavirus could spread. Shares in Asia hit a three-month high on 1 June 2020 due to economies opening in several countries. Gold prices in India are inclusive of 3% GST and 12.5% import duty.

      1 June 2020

    • Gold prices dip to Rs.45,713, and silver rates fall

      In the Mumbai bullion market, the prices of gold had fallen by Rs.1,215 to Rs.45,713 per 10 gram. This was backed by the Rupee appreciation and also a very strong stock market. The metal had come under a lot of pressure after the U.S. President Donald Trump said that he had plans to resume the economy. The bullion price had then gained by Rs.412 (1.13%) and had been up by 16.5% for this year. Most gold trading centres had been closed in the country due to the lockdown that had been announced for avoiding the spread of coronavirus.

      The price of 10 gram of 24-carat 10 gram had been priced at Rs.45,713 plus GST and 22-carat gold had been Rs.41,873 plus 3% GST. 18-carat gold saw its rates stand at Rs.34,285 plus GST. Kishore Narne, Associate Director & Head Commodities and Currencies, Motilal Oswal Financial Services Ltd had said that the metal had witnessed a lot of returns in the last calendar year due to slow growth and a drop in interest rates. He also added that with the coronavirus now stepping foot into the world, a lot of economies have been shut down. The next few years will witness a huge push of liquidity from a lot of central banks and this will be done by printing lot of money and a huge expansion of fiscal deficits which will lead to the depreciation of the paper currencies.

      The Indian gold prices have touched an all-time high, and a lion’s share of this was driven by the depreciating rupee and also the increase in import duty. Navneet Damani, the Vice President, Motilal Oswal, had said that gold had retreated after having climbed 1.3% during the previous rally, as the U.S. jobless claims had fallen and there were hopes that the restrictions would ease.

      When it comes to the futures market, gold had reached an intraday high of Rs.46,700 and a low of Rs.45,614 on the MCX. The June series had seen the precious metal reach a low of Rs.36,572 and also touch a high of Rs.47,327. The gold futures for June delivery had dipped by Rs.1,573, (3.33%) on the MCX and had closed at Rs.45,685 per 10 gram. The contracts for August delivery had eased by Rs.1,554 (3.2%) and had stood at Rs.45,895 per 10 gram. The gold Mini contract for May had fallen by Rs.1,393 (2.95%) and was priced at Rs.45,810 in 9,233 lots.

      20 April 2020

    • Gold prices drop on global cues

      On Thursday, the yellow metal futures had fallen by 1.39% to Rs.41,630 per 10 grams as investors had offloaded all holdings. This was driven by a weak spot demand.

      When it comes to the Multi Commodity Exchange, the prices of gold April delivery had dipped by Rs.587 (1.3%), to Rs.41,630 per 10 grams in 1,296 lots. The precious metal June delivery had dipped by Rs.654 (1.5%) to Rs.42,182 per 10 grams in 710 lots.

      On the Multi Commodity Exchange, the white metal May contracts delivery tumbled by Rs.842 (2.02%) to Rs.40,864 per kg in 2,310 lots.

      The silver metal delivery for July had tumbled by Rs.735 (1.7%) to Rs.41,018 per kg in 68 lots. In the global market, the white metal prices had traded by 2.14% lower at $14.56 per ounce.

      27 March 2020

    • Gold prices shoot up, reaches record-high since 2012

      Today, gold prices in India increased as there was a boost in global rates. Another factor that led to this spike was the rupee’s depreciation against the U.S. dollar. April gold futures had hiked up by 1.3% to Rs.44,730 per 10 grams on the MCX.

      The price of the yellow metal spiked above Rs.1,700 an ounce. This increase was driven by investors taking refuge in safe-haven assets as turmoil spurred in the equity and oil markets.

      Spot gold had skyrocketed by 1.8% to $1,703.39 an ounce. This is the highest that the yellow metal has reached since December 2012. Silver, however had fallen by 0.23% to Rs.46,861 per kg.

      9 March 2020

    • Prices of gold increase for the second day on 13 February 2020

      A weaker rupee and higher prices in the international markets ensured that the prices of gold increased in India. Gold futures prices for the month of April on MCX increased by 0.38% and touched Rs.40,639 for 10 grams.

      The value of the rupee weakened against the dollar on 13 February 2020 and is at Rs.71.42. In India, the prices of gold include 3% GST and 12.5% import duty. According to a note from SMC Global, the prices of gold may move towards Rs.40,750, while there will be support at around Rs.40,400. In the international markets, the prices of gold increased due to the coronavirus concerns and the demand for the yellow metal. The prices of spot gold in the international market increased by 0.4% and touched $1,571.23 for an ounce. According to the Chairman and Managing Director of Abans Group, Abhishek Bansal, there has been support for gold on the downside due to the outbreak of the coronavirus in China. The death toll in China due to the coronavirus increased by 242 and is at 1,355. The number of infections increased as well and is at 60,000. Due to the risk sentiment, Asian equities were flat today even after a strong finish on Wall Street.

      13 February 2020

    • Demand for gold takes a hit

      As per local jewellers, the demand for gold has taken a hit at record prices. This comes despite the fact that it is peak marriage season in various parts of the country. The reason for it being most buyers are using old gold to exchange for new.  On Wednesday, gold rates gained Rs.500 for every 10 grams in futures hitting Rs.41,200 for every 10 grams for MCX February contract while CME gold futures hit a record $1604.2 an ounce. The jump in the prices was accounted to the retaliatory action taken by Iran for last week’s US airstrike.

      As per the director of India Bullion and Jewellers Association (IBJA), slowing physical demand at persistently higher prices will impact the country’s gold imports. In 2019, the imports stood at 800 – 830 tonnes.

      Slowing physical demand at persistently higher prices is set to impact India's gold imports. The imports for the 2019 stood at 800-830 tonnes. This was the lowest in the last three years and is expected to decline further this year.

      8 January 2020

    • Gold prices jump by Rs.71 to cost Rs.38,564 for every 10 grams

      The price of the yellow metal rose by Rs.71 on Thursday to cost Rs.38,564 for every 10 gram in the national capital. The rise in the prices was accounted to overnight gains in international prices. On Wednesday, every 10 gram of gold cost Rs.38,493.

      Gold prices in the global market were trading at $1,473 per ounce. International spot gold prices traded near $1,495 after US Federal Reserve kept interest rates unchanged. It must be noted here that the Reserve had on Wednesday kept key interest rates unchanged with accommodative stance until 2020.

      Silver prices also jumped on Thursday. The rates saw an increase of Rs.359 to cost Rs.44,984 per kg. In the global market, the precious metal was quoting $16.84 an ounce.

      As per HDFC Securities, the risk premium in gold prices will be high as the deadline of US tariffs on Chinese goods is getting near.

      12 December 2019

    • Gold gains Rs.286 to Rs.38,365 per 10 gram

      Prices of Gold rose Rs.286 to Rs.38,365 per 10 gram due to weaker Rupee and Donald Trump’s comment that the trade deal between US and China may take place only after the presidential election 2020 gets over.

      Gold imports in India were down 16% in November despite jumping to 71 tons from 40 tons.

      Prices of Silver also rose Rs.360 to Rs.44,560 per kg.

      In international markets, gold prices touched an intraday high of Rs.38,162 and an intraday low of Rs.37,825 on MCX.

      Gold futures for February rose Rs.133, or 0.35% on the MCX trading at Rs 38,082 per 10 gram.

      5 December 2019

    • Prices of gold hit three month low on 8 November 2019

      On 8 November 2019, prices of gold hit a three-month low in the international market. Prices of spot gold hit $1,455.80 for an ounce. The prices are the lowest since 5 August 2019.

      Gold faced pressure as there was an optimism that the interim trade deal between China and the US would be signed shortly. According to Yes Securities, prices of gold fell as there were positive signals on the trade front between China and the US. According to a spokeswoman from the White House, in case the trade agreement is reached between the US and China, there could be a lift in tariffs. However, there was still an uncertainty in the trade talks after the US President Donald Trump said that no agreement was made to bring down the tariffs on China. One of the main factors that affect bullion is the trade war between China and the US. The prices of gold have increased by 14% this year. In India, prices of gold increased by 0.28% on 8 November 2019 and hit Rs.37,682 for 10 grams. However, prices of gold have reduced by around Rs.2,300 after hitting record highs in September.

      12 November 2019

    • Subscription for sixth tranche of gold bonds close on Dhanteras

      Government of India has rolled out sixth tranche of gold bonds in order to cash in on the Dhanteras spending spree on 21 October.

      The subscription for the Sovereign Gold Bond will close on 25 October, the day on which Dhanteras will be celebrated all over the country.

      The issue price has been fixed at Rs.3,835 per gram by Reserve Bank of India (RBI) according to the Finance Ministry of India, with the settlement date being 30 October. Investors who are applying for the bond online and making the payment via the digital mode will enjoy a discount of Rs.50 per gram. The price of sovereign gold bonds per gram will be Rs.3,785 per gram if the investor applies for it online.

      The prices of Gold December Futures traded lower by 0.09% or Rs.35 at Rs 38,855 per 10 gm. Global gold prices were down 0.03% at $1,487.70 an ounce.

      The maximum limit of subscription is 20 kg for trusts and similar entities and 4 kg for Hindu Undivided Family (HUF) per fiscal.

      23 October 2019

    • Gold and Palladium prices take a hit as the US dollar increases in value

      The price of palladium and gold took a hit by 5% and 2% respectively which resulted in a decline in the prices due to the increase in the value of the US dollar in international markets. As palladium breached the $1,700 mark recently, the price of the precious metal dipped significantly.

      Silver prices dipped by 3% which was the lowest price of the metal in more than a month. The price of Spot palladium increased by 0.8% to be priced at $1,688.33 an ounce having reached a record high at $1,700.71 an ounce earlier in the month. The metal’s price has increased by 9% in September.

      Palladium which is a metal mainly used in the emissions-reducing catalyst for vehicles. Even though the auto sector is gradually declining, the metal’s demand has seen a steady rise due to tight supply. Investors have also been keeping an eye out on the Monetary Policy of the United States Federal Reserve. The central bank had already cut interest rates twice this year, the second time being in September.

      In the global markets, palladium prices dropped 4.4% at $889.29 whereas silver prices dipped to be priced at $17.03, declining by about 3%. However, both the metals are up by 6% and 11.5% respectively for the quarter.

      1 October 2019

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