Gold Price Trend In Mumbai

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Comparison for 24 K Gold Rates for Mumbai November 2017
Graph for Gold Rate (24K) in Mumbai November 2017
Parameters Gold price (24 karat)
Gold Rate on 1st December 2017 Rs.3,074 per gram
Gold Rate on 31st December 2017 Rs.3,093 per gram
Highest Rate in December Rs.3,094 per gram from 2 to 4 December
Lowest Rate in December Rs.2,988 per gram on 12 and 13 December
Overall Monthly Performance Incline
Percentage Change 0.61%

December 2017 - Week 1 (1st - 10th)

  • Trading commenced in Mumbai with the precious metal was priced at Rs.3,078 per gram on the 1st of December.
  • Thanks to a firm trend overseas, demand picked up with an increase in local buying by jewellers, industries and retailers. This led to gold price in Mumbai rising to Rs.3,094 per gram on the 2nd.
  • Strong domestic demand despite the poor global trends and the strengthening dollar led to the yellow metal trading steady at Rs.3,094 per gram until the 4th.
  • The 5th, however, witnessed gold rate in Mumbai declining to Rs.3,061 per gram after the dollar gained on the positive sentiments boosted by the US Senate’s decision to pass a landmark bill to overhaul the US tax system.
  • With investors awaiting the US non-farm payrolls report during the week and the US central bank’s monetary policy meeting next week, the dollar regained its sheen and resulted in subdued demand for the precious metal. This led to gold rates plunging to Rs.3,048 per gram and Rs.3,045 per gram on the 6th and the 7th.
  • The 8th witnessed the bullion prices hit their lowest in four months at Rs.3,014 per gram after the dollar rose amid positive sentiments on the Republican tax reform bill to overhaul the US tax system.
  • Poor global trends coupled with subdued domestic demand resulted in the precious metal trading at Rs.3,014 per gram for the remainder of the week.

December 2017 - Week 2 (11th - 17th)

  • Gold was seen trading at Rs.3,014 per gram on the 11th of December.
  • The 12th saw gold rate in Mumbai drop considerably to Rs.2,988 per gram due to low demand, and continued at the same rate on the 13th of the month.
  • But, after Fed rate hike news hit the market, the US dollar lost its sheen. This led to the yellow metal’s rates rising to Rs.3,010 per gram on the 14th.
  • A steady and consistent local demand held gold price in Mumbai at Rs.3,010 per gram for the remainder of the week.

December 2017 - Week 3 (18th - 24th)

  • The week began in Mumbai with the yellow metal trading at Rs.3,000 per gram on the 18th as the US tax bill edged a step closer to the country’s tax system overhaul.
  • With investors and stockists speculating over the ultimate outcome of the tax overhaul, equities market began to decline. This led to gold being priced at Rs.3,012 per gram on the 19th and the 20th.
  • The 21st, however, saw gold rate in Mumbai dipping to Rs.3,010 per gram with the dollar gaining against other apex currencies.
  • Thanks to strong global cues coupled with increased demand for the metal, prices rebounded to Rs.3,013 per gram on the 22nd.
  • With the Asian equity markets on the low after the US tax cuts, gold price in Mumbai remained untouched at Rs.3,013 per gram for the rest of the week.

December 2017 - Week 4 (25th - 31st)

  • In Mumbai, gold was priced at Rs.3,013 per gram on the 25th of the month before increasing to Rs.3,035 per gram on the 26th of the month.
  • The US dollar was going through a rough patch, which investors decided to take advantage of. This led to gold prices in Mumbai rising to Rs.3,048 per gram on the 27th of the month.
  • On the 28th, gold rates surged again to Rs.3,068 per gram. Reports said that “today’s gold rate” went up because of positive global cues, where gold was trading at three-week high rates.
  • The 29th saw gold rates increase slightly for the metal to sell at Rs.3,070 per gram.
  • During the final two days of this week, gold rates increased to Rs.3,093 per gram as positive cues brought about by a weak US dollar, pushed gold rates to its highest levels since 2010.
Parameters Gold price (24 karat)
Gold rate on 1st November 2017 Rs.3,070 per gram
Gold rate on 30th November 2017 Rs.3,081 per gram
Highest Rate in November 2017 Rs.3,115 per gram on 19 and 20 November
Lowest Rate in November 2017 Rs.3,061 per gram on 6th November
Overall Monthly Performance Incline
Percentage Change 0.35%
Comparison for 24 K Gold Rates for Mumbai October 2017

November 2017 - Week 1 (1st - 5th)

  • Gold price in Mumbai were weak this week as a consequence of the global outlook.
  • When the week started, gold was priced at Rs.3,070 per gram - a Rs.18 decline from the previous day’s rates.
  • Thanks to steady local demand, gold continued trading at Rs.3070 per gram on the 2nd of November.
  • On the 3rd, however, gold rate in Mubmai fell to Rs.3,065 per gram as demand from domestic investors lost its steam.
  • For the next two days, i.e., the 4th and the 5th, gold rates remained unchanged at Rs.3,065 per gram.

November 2017 - Week 2 (6th - 12th)

  • In Mumbai, gold started off on a weak note amid a strengthening dollar. The dollar, however, declined over the course of the week owing to uncertainties in the US tax reform, pushing gold prices higher as the week progressed.
  • The week began with the gold trading at Rs.3,061 per gram on the 6th as investors speculated towards the end of the two-day monetary policy meeting by Federal Reserve.
  • Safe-haven investments were greatly influenced with the Saudi purge taking headline over the end. This resulted in an increased demand for the precious metal, and gold was trading at Rs.3,081 per gram on the 7th.
  • The US dollar dropped with markets concerned over possible delays in President Trump’s tax reform. This led to gold prices in Mumbai rising to Rs.3,087 per gram and Rs.3,090 per gram on the 8th and 9th respectively.
  • The 10th witnessed gold rate in Mumbai hitting a three-week high of Rs.3,099 per gram with the dollar losing against a basket of other major emerging currencies.
  • However, gold price in Mumbai dropped on the 11th amid poor global trends, and a subdued demand from local jewellers, and the precious metal was trading at Rs.3,093 per gram.
  • Prices, however, rebounded the following day with the dollar losing its sheen amid uncertainties of a major corporate tax reform.

November 2017 - Week 3 (13th - 19th)

  • When trading for this week commenced in Mumbai, gold was priced at Rs.3,093 per gram.
  • A rise in domestic demand saw gold rate in Mumbai increase to Rs.3,101 per gram on the 14th of the month. A short drop in intensity caused gold rates to fall to Rs.3,099 per gram on the 15th.
  • The US dollar’s strong performance, thanks to the treasury yields, caused gold price in Mumbai to drop to Rs.3,093 per gram on the 16th.
  • On the 17th and the 18th, demand for gold was steady, leading to the metal trading at Rs.3,090 per gram.
  • A significant spike in demand seen on the 19th caused gold to trade at Rs.3,115 per gram till the closing hours of the day.

November 2017 - Week 4 (20th - 26th)

  • When the week began in Mumbai, gold was priced at Rs.3,115 per gram.
  • A cautious approach taken by the local investors led to gold prices in Mumbai falling to Rs.3,091 per gram on the 21st, which continued till the closing hours of the next day.
  • As gold demand surged internationally, gold rate in Mumbai went up to Rs.3,102 per gram on the 23rd of the month.
  • A steady and consistent demand from the local market led to the yellow metal trading at Rs.3,102 per gram till the closing hours of the week.

November 2017 - Week 5 (27th - 30th)

  • On the 27th of November, gold was priced at Rs.3,103 per gram and continued at the same rate on the 28th as well.
  • The 29th saw gold rate in Mumbai drop to Rs.3,098 per gram due to a poor local trading, which was brought about by a strong US dollar.
  • Prices dropped again as the greenback strengthened further to cause a global slowdown in gold trades.
  • When the month ended, the metal was last seen trading at Rs.3,081 per gram - a Rs.22 per gram drop in less than a week.
Comparison for 24 K Gold Rates for Mumbai September'17
Parameters Gold price (24 karat)
Gold Rate on 1st October 2017 Rs.3,127 per gram
Gold Rate on 31st October 2017 Rs.3,088 per gram
Highest Rate in October 2017 Rs.3,135 per gram from 12 to 17 Due October
Lowest Rate in October 2017 Rs.3,002 per gram from 23 to 26 October
Overall Monthly Performance Decline
Percentage Change -1.24%

October 2017 - Week 1 (1st -7th)

  • Gold prices in Mumbai were more or less stable as domestic demand was consistent.
  • The precious metal traded at Rs.3,127 per gram on 1 October, with the price remaining the same for the next two days.
  • In spite of fluctuating demand across the globe, gold rate in Mumbai remained stable due to stable local demand.
  • The release of U.S. non-farm employment data was expected later in the week, which led to a reduction in demand from overseas markets, especially Asia.
  • Positive equity trading also contributed to a reduction in demand for gold as prices fell to Rs.3,094 per gram on 5 October.
  • Demand continued to drop as local demand also fell, with gold prices falling to Rs.3,084 per gram on 6 & 7 October.

October 2017 - Week 2 (8th -14th)

  • In Mumbai, gold prices rose consistently over the course of the week.
  • When the week started, gold was priced at Rs.3,084 per gram and then rose to Rs.3,119 per gram on the 9th due to global uncertainties.
  • A slowdown in the international bullion market led to a slowdown in growth. Gold traded at Rs.3,119 per gram on the 10th.
  • On the 11th, gold rates in Mumbai went up to Rs.3,125 per gram as local trading was impacted by positive global cues.
  • Gold price in Mumbai went up again on the 12th to trade at Rs.3,135 per gram as a high inflation data pushed demand for safe-haven investments.
  • The greenback stabilised and gold traded at Rs.3,135 per gram over the remaining two days of the week.

October 2017 - Week 3 (15th - 21st)

  • Gold rate in Mumbai remained mostly on the stable side this week, thanks to steady demand from local circles.
  • On the 15th of October, gold was priced at Rs.3,135 per gram. Due to demand being constant, rates were the same over the next two days as well.
  • But, a strong US dollar performance saw gold price in Mumbai dip to Rs.3,011 per gram on the 18th of October.
  • Pre-Diwali demand saw gold prices increase to Rs.3,012 per gram on the 19th and continue at the same rate till the closing hours of the 21st as investor demand was solid.

October 2017 - Week 4 (22nd -28th)

  • The week began in Mumbai with the yellow metal trading steady at Rs.3,012 per gram on the 22nd.
  • However, gold price in Mumbai dropped to Rs.3,002 per gram on the 23rd as demand declined with strengthening of the US dollar against other major currencies.
  • The next couple of days witnessed gold rates remaining unchanged at Rs.3,002 per gram owing to steady demand from local jewellers, retailers and industries.
  • Gold rate in Mumbai surged by Rs.95 per gram as the US dollar weakened, pushing prices up to Rs.3,097 per gram on the 26th.
  • Demand, however, dropped marginally the next day as the dollar gained against the euro with the ECB extending their bond-buying policy. This led to the precious metal trading at Rs.3,084 per gram.
  • Thanks to steady demand from local jewellers, industries and retailers, prices remained steady at Rs.3,084 per gram on the 28th.

October 2017 - Week 5 (29th- 31st)

  • In Mumbai, gold rates were stable for the most part thanks to continued business in the city’s MCX.
  • On the 29th, gold was priced at Rs.3,084 per gram. But, a slight drop in global demand saw the metal’s rates fall to Rs.3,081 per gram on the 30th.
  • When the week drew to a close, gold rates in Mumbai were recorded at Rs.3,081 per gram as demand remained steady amidst the outcome of Fed Reserve meeting.
Comparison for 24 K Gold Rates for Mumbai July'17
Parameters Gold price (24 karat)
September 1 Rate Rs.3,045 per gram
September 30 Rate Rs.3,127 per gram
Highest Rate in September Rs.3,186 per gram from 9 to 13 September
Lowest Rate in September Rs.3,045 per gram on 1 September
Overall Monthly Performance Incline
Percentage Change 2.69%

September 2017 - Week 1 (1st to 10th)

  • Gold trading in Mumbai was quite stable throughout the first week of September with only a few changes to be seen.
  • On the 1st of September, when the week started, gold was trading at Rs.3,045 per gram.
  • As domestic demand increased, courtesy of positive global cues, prices surged to Rs.3,073 per gram on the 3rd.
  • For the next few days, until the 8th, gold rate in Mumbai remained unchanged due to consistent demand.
  • Gold price in Mumbai reached Rs.3,187 per gram on 9th September, a whopping Rs.113 increase within a single day due to an increased demand in the global market.
  • A prime reason for this increase was the confirmation provided by North Korea that it indeed conducted one its most powerful nuclear test to date.
  • Sustained buying trends on the 10th led to the metal still trading at Rs.3,187 per gram till the end of the day.

September 2017 - Week 2 (11th to 17th)

  • The country’s financial capital saw little movement in the price of gold in the second week of September as stable local demand kept prices steady.
  • The week opened with gold priced at Rs.3,186 per gram on 11 September, with the prices remaining unchanged till 13 September due to steady trading in the metal.
  • Gold rate in Mumbai fell sharply to Rs.3,140 per gram on 14 September in spite of the fluctuating dollar rate, as local demand fell.
  • There was no change in the gold price in Mumbai for the rest of the week, resulting in the week ending with the precious metal priced at Rs.3,140 per gram on 17 September.

September 2017 - Week 3 (18th-24th)

  • Gold trading in Mumbai began on a significant high this week before plummeting as days progressed.
  • On the 18th of September, gold was trading at Rs.3,140 per gram - the highest gold rate in India - and continued at the same rate on the next day.
  • The 20th saw local demand fall considerably, pushing gold prices down to Rs.3,113 per gram. Rates dropped on the 21st as well, leading to the metal selling at Rs.3,107 per gram.
  • The imminent arrival of the festive season led to a slight increase in gold price in Mumbai on the 22nd. The yellow metal sold at Rs.3,109 per gram on this day.
  • Due to demand remaining stable, gold rate in Mumbai remained unchanged till the closing hours of the week.

September 2017 - Week 4 (25th-30th)

  • Gold rates in Mumbai were among the highest recorded figures in the whole of India for this week.
  • On the 25th, when the week began, gold was priced at Rs.3,109 per gram.
  • But, as festive demand kicked in, rates went up to Rs.3,164 per gram on the 26th.
  • Gold price in Mumbai went down to Rs.3,148 per gram on the 27th as the US dollar strengthened further after news about a possible Fed rate hike hit the markets.
  • The 28th saw gold rate in Mumbai fall to Rs.3,127 per gram as dollar remained steady and local investors refrained from investing.
  • Demand remained stable on the 29th and the 30th, which led to the metal trading at Rs.3,127 per gram till the end of the week.
Parameters Gold price (24 karat)
August 1 Rate Rs.2,988 per gram
August 31 Rate Rs.3,045 per gram
Highest Rate in August Rs.3,045 per gram from 29-31 August
Lowest Rate in August Rs.2,978 per gram on 8 August
Overall Monthly Performance Incline
Percentage Change 1.90%
Comparison for 24 K Gold Rates for Mumbai July'17

August ’17- Week 1 (1 to 6)

  • Gold price were stable in the country’s financial capital in spite of major fluctuations in demand and the dollar rate.
  • Gold traded at Rs.2,988 per gram on 1 August as prices remained unchanged from the previous month.
  • A fall in industrial demand was recorded, but this failed to impact the gold price in Mumbai, which traded at Rs.2,988 per gram for the rest of the week.
  • There was a decline in interest in gold as the markers stabilised following the U.S. Fed meeting, which had minimum impact on bullion demand in Mumbai.

August ‘17 – Week 2 (7th to 13th)

  • In Mumbai, gold prices remained on a subdued note for the first half of the week before going up significantly during the second half.
  • On the 7th, gold in Mumbai was trading at Rs.2,988 per gram, but as local jewellers were cautious with their investment, rates went down to Rs.2,978 per gram.
  • After some positive cues from the global market made its way to Mumbai, gold prices went up to Rs.2,998 per gram on the 9th.
  • The 10th saw gold rate in Mumbai remain at Rs.2,998 per gram before increasing by Rs.46 to trade at Rs.3,044 per gram on the 11th of August.
  • As demand remained steady despite falling international demand, gold prices were seen holding at Rs.3,044 per gram over 12th and the 13th of August.

August ’17- Week 3 (14 to 20)

  • The financial capital of the country saw sharp fluctuations in the price of the yellow metal in the third week of August, with the week opening at Rs.3,044 per gram on 14 August.
  • Gold price in Mumbai remained unchanged on 25 August as there was no major change in demand or trade in gold.
  • International demand for gold fell as the dollar rose in anticipation of the U.S. Federal Reserve meeting, which led to domestic gold falling to Rs.3,010 per gram from 16-18 August.
  • Local demand kept prices from dropping too steeply as the metal recovered to trade at Rs.3,038 per gram on 19 August.
  • There was no change in price as the week ended with gold rate in Mumbai at Rs.3,038 per gram on 20 August following wildly disparate prices.

August 2017 – Week 4 (21st - 27th)

  • None of the global or the domestic events had any bearing on gold demand in Mumbai.
  • When the week began on the 21st, gold rate in Mumbai was at Rs.3,028 per gram.
  • As demand remained steady for the remaining six days of the week, gold was seen selling at Rs.3,028 per gram when the week came to an end.

August 2017 – Week 5 (28th - 31st)

  • Demand for gold in the financial capital of the country was more or less stable, with the metal opening the week at Rs.3,028 per gram on 28 August.
  • Continued tensions due to the ongoing geopolitical crisis in the Korean peninsula led to increased trade in safe-haven assets like gold and silver, resulting in gold prices rising to Rs.3,045 per gram on 29 August.
  • Local demand fell as the rupee fell against the dollar, resulting in gold price in Chennai rising in spite of a fall in orders for the yellow metal.
  • Prices remained constant for the rest of the week, resulting in gold ending the month trading at Rs.3,045 per gram on 31 August.
Parameters Gold price (24 karat)
July 1 Rate Rs.3,055 per gram
July 31 Rate Rs.2,988 per gram
Highest Rate in June Rs.3,055 per gram on 1 and 2 July
Lowest Rate in June Rs.2,902 per gram on 10 July
Overall Monthly Performance Decline
Percentage Change -2.13%

July 2017 - Week 1 (1st to 9th)

Comparison for 24 K Gold Rates for Mumbai June'17
  • The price of the yellow metal in the country’s financial capital was relatively steady during the first week of the month, with a few minor variations here and there.
  • Gold opened at Rs.3,055 per gram on 1 July which was one of the higher rates noted in the entire country. This rate was noted the next day as well.
  • The demand for this metal reduced resulting in a price drop. This precious metal traded at Rs.2,991 per gram on 3 July as well as 4 July.
  • However, the rate of this metal was on an upswing thereafter due to increase in demand for this metal from international as well as domestic markets.
  • Gold traded steadily at Rs.3,004 per gram from 5 July until 8 July. However, this demand was not sustained and the price of gold dropped on 9 July to be priced at Rs.2,981 per gram.

July 2017 - Week 2 (10th to 16th)

  • Despite some significant global cues, gold prices in Mumbai didn’t see too many changes during July week 2.
  • On the 10th of July, gold price in Mumbai was recorded at Rs.2,902 per gram while the precious metal’s rates hit a near four-month low in the international market.
  • Gold rate in Mumbai went up to Rs.2,919 per gram on the 12th as demand spiked due to a fall in US dollar rates.
  • The 13th, however, saw gold prices dipped slightly to reach Rs.2,916 per gram.
  • As international demand for gold went up, prices went up in Mumbai on the 14th for the metal to trade at Rs.2,923 per gram.
  • Over the next two days, i.e., the 15th and 16th, gold rates remained at Rs.2,923 per gram as demand stabilised while US dollar value picked up.

July 2017 - Week 3 (17th to 23rd)

  • In line with trends seen across other Indian cities, there was a sharp increase in the price of gold in the country’s financial capital in the third week of July.
  • Gold was priced at Rs.2,923 per gram on 17 July but soon rose to Rs.2,947 per gram on 18 July due to increased trading and demand in overseas markets.
  • The U.S. dollar continued to slide against other global currencies, which increased demand for the precious metal.
  • Gold rate in Mumbai were stable for a few days in spite of increased overseas demand due to inconsistent stock markets in the United States.
  • Gold price in Chennai jumped to Rs.2,988 per gram on 22 July as the United States’ internal crises led to markets faltering and renewed demand for bullion among investors.
  • Gold ended the week trading at Rs.2,988 per gram on 23 July, an increase of Rs.65 over the course of the week.

July 2017 - Week 4 (24th to 31st):

  • In Mumbai, demand for gold remained constant throughout the last week of July.
  • On the 24th, gold was trading at Rs.2,988 per gram.
  • Market meltdowns in the US failed to have any impact on gold prices in Mumbai, which was quite evident with no fluctuation in rates.
  • Due to sustained demand from local jewellers, gold prices continued at Rs.2,988 per gram for the rest of the week.
  • Despite gold hitting 7-month high figures globally - owing to poor US dollar performance - trading cues in Mumbai remained steady over this week.
Parameters Gold price (24karat)
June 1 Rate Rs.3,046 per gram
June 30 Rate Rs.3,055 per gram
Highest Rate in June Rs.3,077 per gram on 7 & 8 June
Lowest Rate in June Rs.3,033 per gram from 15-29 June
Overall Performance Incline
Percentage Change 0.29%
Comparison for 24 K Gold Rates for Mumbai May'17

June 2017 - Week 1 (1st-4th):

  • Gold prices in Mumbai was a contrast to that in Chennai and the Indian mainland.
  • On the 1st of June, gold was priced at Rs.3,046 per gram and remained the same on the 2nd due to a sustained demand for the metal in the city.
  • As some global factors saw gold prices increase internationally, gold prices went up to Rs.3,059 per gram.
  • Due to there being no domestic factors in play, gold prices remained at Rs.3,059 per gram on the 4th as well.
  • Despite seeing one of the highest gold prices in the country, gold rates went up by just Rs.13 as there wasn’t as much demand for the metal in Mumbai when compared to other cities.

June 2017 - Week 2 (5th - 11th)

  • Gold prices were recorded at Rs.3,059 per gram in Mumbai when the second week of June began.
  • Though, prices remained unchanged on the 6th, they went up considerably to Rs.3,077 per gram on the 7th.
  • The 8th saw gold prices still holding at Rs.3,077 per gram as demand from the local circles largely remained constant.
  • However, all the progress made over the previous days came undone as prices went down to Rs.3,053 per gram on the 9th.
  • As the clout over US Labour Department’s Employment Report cleared, gold prices remained unchanged over the last two days of the week, i.e, the 10th and the 11th.

June 2017 - Week 3 (12th-18th)

  • The price of this precious metal in the city of Mumbai was relatively stable and high as compared to the rates seen in other cities in the country.
  • This could be due to steady demand for this metal in domestic markets.
  • Gold opened the third week of June at Rs.3,053 per gram and stayed steady at this rate until the 14th of the month.
  • There were some issues regarding the import of bullion by banks due to a lack of clarity with respect to GST.
  • There was a marginal decline in the price of gold in Mumbai on the 15th of June with gold trading at Rs.3,033 per gram.
  • As the demand for gold did not increase, gold continued to trade at Rs.3,033 per gram from the 15th of June until the 18th of June.

June 2017 - Week 4 (19 to 25)

  • The price of the yellow metal in the country’s financial capital was steady for the entirety of the week as prices were steady.
  • Gold was priced at Rs.3,033 per gram on 19 June, remaining unchanged from the previous week.
  • Stable demand and strong demand from the local market kept prices stable in spite of fluctuations in demand overseas.
  • The U.S. Dollar began to strengthen but domestic demand was high as consumers increased gold purchases before the onset of the GST regime.
  • Prices ended the week at Rs.3,033 per gram on 25 June, remaining unchanged for the duration of the week.

June ’17 – Week 5 (26 to 30)

  • Gold prices were unchanged for most of the week as demand was consistent, with gold trading at Rs.3,033 per gram on 26 June.
  • The fluctuations in market rates as well as the weakening U.S. Dollar did not impact demand in the country’s financial capital.
  • Steady demand from retail consumers helped keep prices stable as jewellers also increased demand before the onset of GST, which would result in increased tax rates.
  • Prices rose as the month drew to a close, with gold climbing to Rs.23,055 per gram on 30 June as domestic demand spiked.
May 1st Rate Rs.3,061 per gram
May 31st Rate Rs.3,046 per gram
Highest Rate in May Rs.3,061 per gram on 1st & 2nd May
Lowest Rate in May Rs.2,956 per gram from 11th- 16th May
Overall Performance Decline
Percentage Change -0.49%
Comparison for 24 K Gold Rates for Mumbai April'17

May 2017 - Week 1 (1st-7th)

  • The rate of gold in the city of Mumbai was relatively stable as compared to the prices seen in other cities in the country.
  • This could be attributed to steady demand for this metal in domestic markets.
  • Gold traded at Rs.3,061 per gram on the 1st of May and was steady at this rate on the 2nd of May as well.
  • However, as the demand for this metal fell and the value of the U.S.Dollar increased, the rate of gold fell drastically the next day to trade at Rs.3,020 per gram.
  • From the 5th of May until the end of the week, gold was priced at Rs.2,996 per gram due to slow demand for this metal.

May 2017 – Week 2 (8th -14th)

  • Gold prices in the financial capital reflected prevailing trends, with a dip in price due to declining demand.
  • Gold in Mumbai was priced at Rs.2,996 per gram on 8th May, with the price falling to Rs,2,977 per gram on 9th May as a resurgent market reduced demand for the yellow metal.
  • Prices continued to drop as markets were bolstered by Emmanuel Macron’s win in the French presidential election.
  • The week also saw industrial demand for gold drop, further weakening demand and contributing to a fall in the price of gold.
  • A stable U.S. Dollar also led to the decline in demand for gold as the metal traded at Rs.2,956 per gram from 11th-14th May, recording a drop in price of Rs.40 per gram during the week.

May 2017 - Week 3 (15th - 21st)

  • In Bollywood town Mumbai, gold rates were on the incline for the entire third week of May.
  • The incline was due to an increase in demand in the local market combined with the rise in global demand as well.
  • On 15th, gold in Mumbai was trading at Rs.2,956 per gram.
  • As there were no major changes in the domestic market, gold prices remained at Rs.2,956 per gram on the 16th.
  • Due to news about Donald Trump’s interference over his government’s Russian connection spreading, gold rate went up to Rs.2,973 per gram on 17th.
  • Rates jumped again on the 18th as they went up to Rs.3,017 per gram - an increase of Rs.44 per gram.
  • The remaining days of the week didn’t see any price changes as market stabilised for a brief period.

May 2017 – Week 4 (22nd - 28th)

  • Gold prices in Mumbai reflected ongoing trends with a few variations noted during the fourth week of the month.
  • The rate of gold was relatively high in Mumbai as compared to the rest of the country with this yellow metal trading at Rs.3,017 per gram on the first day of the week. This rate was a continuation of the prices seen during the previous week.
  • Rate of gold was steady at Rs.3,017 per gram until the 24th of the month with the Manchester blasts having no impact on the price of this metal.
  • The rate of gold in Munbai plunged to trade at Rs.3,028 per gram on the 26th of May. Due to low but sustained demand, the price of gold continued to trade at Rs.3,028 per gram until the end of the week.

May ’17 – Week 5 (29th to 31st)

  • The price of gold in the financial capital reflected trends seen across the country, with an overall decline in price.
  • Gold traded at Rs.3,028 per gram on 29th May, with the price rising from the previous week due to higher local demand.
  • Prices rose as the month ended, with gold trading at Rs.3,046 per gram on 31st May as markets fell, which led to a marginal increase in demand for gold.
  • While gold prices rose in the last week, the price declined by 0.49% over the course of the month.
April 1st Rate Rs.3,011 per gram
April 30th Rate Rs.3,061 per gram
Highest Rate in April Rs.3,061 per gram on the 29th and 30th of April
Lowest Rate in April Rs.3,011 per gram on the 1st and 2nd of April
Overall Performance Incline
Percentage Change 1.66%
Comparison for 24 K Gold Rates for Mumbai March'17

April 2017 - Week 1 (1st-9th)

  • Gold price in Mumbai were more or less stable for the week, in opposition to trends seen across the country.
  • Gold was priced at Rs.3,011 per gram on the 1st of April, with prices remaining relatively constant as compared to that of the previous month.
  • This rate was steady until the 3rd of April as there was no indication of international trends that would have had an impact on the rate of gold.
  • Gold rate in Mumbai traded at Rs.3,043 per gram on 4th April, as a sudden rise in the U.S. Dollar and a hike in markets led to reduced demand for gold.
  • Due to steady demand for this precious metal, the rate of gold remained steady until the end of the week trading at Rs.3,043 per gram.

April 2017 - Week 2 (10th-16th)

  • Contrary to gold trading trends in the rest of India, gold rate in Mumbai didn’t witness any change during the second week of April.
  • The week began on 10th with gold selling at Rs.3,025 per gram in Mumbai and due to a sustained demand and no apparent catalytic events, prices remained the same.
  • When the week came to an end, gold price in Mumbai was still trading at Rs.3,025 per gram, marking little to no difference from the prices on the first day.

April 2017 - Week 3 (17th-23rd)

  • Gold rate in Mumbai was completely stable. This could be attributed to a number of factors.
  • There was no change in the demand for this metal in both domestic and international markets and there was also no significant change noted in the value of the U.S.Dollar during this period.
  • Although the rate of gold was stable, it was still relatively high. This was due to the political tensions in Syria and North Korea resulting in investors flocking to purchase safe haven assets.
  • The price of gold in Mumbai from the 17th of April to 23rd of April was Rs.3,025 per gram, without any variations.

April 2017 - Week 4 (24th-30th)

  • Compared to the third week of April, the rate of gold fluctuated quite significantly during the final week in Mumbai.
  • Geopolitical factors as well as variations in the demand for this metal could be attributed to the fluctuations noted in the rate of this precious metal.
  • Gold traded at Rs.3,025 per gram on the 24th of April and stayed steady at this rate on the 25th as well.
  • As the week progressed, the rate of gold continued to increase, trading at Rs.3,048 per gram on the 27th and 28th of April.
  • On the last two days of the month, gold was priced at Rs.3,061 per gram which was also the highest rate of gold noted during the week.
March 1st Rate Rs.3,054 per gram
March 31st Rate Rs.3,011 per gram
Highest Rate in March Rs.3,054 per gram on 1st March
Lowest Rate in March Rs.2,968 per gram on 15th March
Overall Performance Decline
Percentage Change -1.42%
Comparison for 24 K Gold Rates for Mumbai February '17

March 2017 - Week 1 (1st - 4th):

  • Economic capital Mumbai had one of the highest gold rates in the entire country during the first week of March.
  • The week began on 1st with gold trading at Rs.3,054 per gram and continued at the same rate during the next day.
  • The 3rd, however, saw prices drop by Rs.28 per gram to hit Rs.3,026 per gram as demand seemed to tank.
  • Rates didn’t see any change as strengthening of the US dollar didn’t allow for a change in price.
  • When week 1 of March ended, gold was trading at Rs.3,026 per gram.

March 2017 - Week 2 (5th - 11th):

  • In bollywood-town Mumbai, gold prices seemed to fluctuate quite a lot over the second week of March.
  • On 5th, gold was trading at Rs.3,026 per gram and continued at the same rate on 6th March.
  • As the demand went down, gold price in Mumbai dropped to Rs.3,016 per gram on 7th but rallied to reach Rs.3,045 per gram on 8th.
  • After a sudden surge in demand, gold rates went down again on 9th to Rs.3,030 per gram and went down again by Rs.25 to reach Rs.3,005 per gram.
  • When week 2 of March ended, gold was still trading at Rs.3,005 per gram.

March 2017 - Week 3 (12th-18th):

  • Gold prices in Mumbai were more or less stable for the week, in opposition to trends seen across the country.
  • Gold was priced at Rs.3,013 per gram on 13th March, with prices remaining relatively constant as compared to the previous week.
  • This rate was steady until the 15th of March as there was no indication of international trends impacting the price of gold.
  • Gold traded at Rs.3,024 per gram on 16th March, as a sudden rise in the U.S. Dollar and a hike in markets led to reduced demand for gold.
  • The price rose to Rs.3,034 per gram on 17th March as gold demand rose in response to falling stock markets.
  • Gold traded at Rs.3,034 per gram on 18th March, a weekly increase of Rs.21 per gram.

March 2017 - Week 4 (19th-25th):

  • In Mumbai, gold prices didn’t see too much of a change over the fourth week of March.
  • The week began on 20th with gold trading at Rs.3,012 per gram and remained unchanged over the next two days till the 22nd.
  • On 23rd, gold prices went up by Rs.23 to bring the metal’s prices up to Rs.3,035 per gram.
  • As demand in the city cancelled out the impact of a strengthening dollar, gold was still trading at Rs.3,035 per gram on 24th.
  • Due to domestic demand not budging, the week ended with gold prices still holding at Rs.3,035 per gram.

March 2017- Week 5 (26th-31st):

  • Gold rate in Mumbai remained largely unchanged over the fifth week of March.
  • The week began on 27th March with gold trading at Rs.3,035 per gram and continued at the same rate till the closing hours of the 30th.
  • On 31st, however, gold price in Mumbai slumped to Rs.3,011 per gram - a decrease of Rs.24 per gram - as domestic demand fell considerably.
February 1st Rate Rs.2,985 per gram
February 28th Rate Rs.3,054 per gram
Highest Rate in February Rs.3,054 per gram from 24th-28th February
Lowest Rate in February Rs.2,985 per gram on 1st February
Overall Performance Incline
Percentage Change +2.31%
Comparison for 24 K Gold Rates for Mumbai January '17

February 2017 - Week 1 (1st-4th):

  • Gold rates saw significant appreciation in Mumbai when February began.
  • The yellow metal was trading at Rs.2,985 per gram on 1st, which then increased to Rs.3,014 per gram on the 2nd.
  • The sudden fluctuation in prices was due to a surge in global demand brought about by US President Donald Trump’s questionable policy decisions.
  • At the end of the week on 4th gold prices didn’t see any change as it continued at Rs.3,014 per gram till the end of the business day.

February 2017 - Week 2 (5th-11th)

  • The price of gold in the financial capital of the county was steady as the week began, trading at Rs.3,014 per gram from 5th-7th February as industrial demand stabilised the price.
  • Prices rose to Rs.3,034 per gram on 8th February, an increase of Rs.20 per gram as a result of brisk trading in the metal on futures markets due to a weakening in global markets as a consequence of uncertainty over the immigration ban in the United States.
  • A sudden rally by markets led to gold demand dipping, as it traded at Rs.3,013 per gram on 10th February.
  • The week ended with gold trading at Rs.3,013 per gram on 11th February, registering a decline in price by Rs.1 per gram.

February 2017 - Week 3 (12th-18th)

  • Gold prices in Mumbai were more or less stable for the week, in contrast to trends across the country.
  • Gold was priced at Rs.3,013 per gram on 12th February, the price remaining constant from the previous week due to demand being stagnant.
  • Prices continued to remain constant from 12th-15th February, as international trends did not impact prices.
  • Gold traded at Rs.3,024 per gram on 16th February, as a sudden dip in the U.S. Dollar and a drop in markets led to higher demand for gold.
  • The price rose to Rs.3,034 per gram on 17th February as gold demand rose in response to faltering stock markets.
  • Gold traded at Rs.3,034 per gram on 18th February, a weekly increase of Rs.20 per gram.

February 2017 - Weeks 4 & 5 (19th-28th)

  • The price of gold in Mumbai was stable for the last two weeks, trading at Rs.3,034 per gram on 19th February.
  • Prices were constant till 23rd February due to high domestic demand in spite of fluctuating rates elsewhere.
  • Prices rose to Rs.3,054 per gram on 24th February due to a dip in U.S. markets and a slide in the dollar rate, which resulted in higher demand for gold.
  • Prices were constant till the end of the week, as gold traded at Rs.3,054 per gram on 28th February, a weekly increase of Rs.20 per gram and a monthly increase of 2.31%.
January 1st Rate Rs.2,884 per gram
January 31st Rate Rs.2,985 per gram
Highest Rate in January Rs.2,997 per gram from 16th-27th January
Lowest Rate in January Rs.2,872 per gram on 2nd January
Overall Performance Incline
Percentage Change +3.50%
Comparison for 24 K Gold Rates for Mumbai December '16

January 2017 - Week 1 (1st to 7th)

  • Barring a short blip at the beginning of the week, gold prices continued its upward trend in economic capital Mumbai.
  • With new year starting and with cash flow increasing, gold rates seemed to be on an incline for the better.
  • At the beginning of the week, gold price started at Rs.2,884 per gram but decreased to Rs.2,872 on the 2nd.
  • The 3rd, however, saw some positive growth for gold to trade at Rs.2,884, same rate as on the first of the week.
  • On 4th, gold rates again increased to Rs.2,895 per gram - an improvement of Rs.11.
  • Last three days of the week, from 5th to 7th, gold prices remained the same by gaining up on the rates during the 4th.
  • The week ended with gold trading at Rs.2,908 per gram.

January 2017 - Week 2 (8th to 15th)

  • Gold prices in the country’s financial capital rose the whole of the second week, as increasing demand from the industrial sector kept prices high.
  • Gold traded at Rs.2,908 per gram on 8th January, maintaining its price from the previous week.
  • Prices rose by Rs.30 per gram to trade at Rs.2,938 per gram on 10th January as the Rupee fell against the U.S. Dollar, making exports cheaper.
  • Prices were steady for a day before rising to Rs.2,974 per gram on 12th January on sustained demand from the retail sector.
  • Prices stayed constant for the rest of the week, with gold ending the week trading at Rs.2,974 per gram on 15th January.
  • High domestic demand and conducive market conditions led to gold prices rising by Rs.66 per gram during the week.

January 2017 - Week 3 (15th to 21st):

  • In Mumbai, gold trading rates remained largely unchanged for much of the week, except for the opening price on the 15th.
  • The week began with gold trading at Rs.2,974 per gram.
  • On 16th, prices increased by Rs.23 to Rs.2,997 per gram and continued at the same rate till the end of the week on the 21st.
  • There weren’t any catalytic changes to be witnessed throughout the week, which paved the way for little to no fluctuations.

January 2017- Weeks 4 & 5 (22nd to31st)

  • Gold prices in Mumbai were stable as the week began, trading at Rs.2,997 per gram on 22nd January, with the price being unchanged from the past week.
  • Sluggish demand from industry kept prices stagnant, though heightened international demand kept prices from falling.
  • High local demand kept prices from falling due to lowered demand from Asia due to Lunar New Year.
  • Prices fell on the last day of the week over uncertainty regarding the U.S. Federal Reserve meeting in the next week, as gold traded at Rs.2,985 per gram on 31st January.
December 1st Rate Rs.2,938 per gram
December 31st Rate Rs.2,884 per gram
Highest Rate in December Rs.2,938 per gram from 1st to 7th December
Lowest Rate in December Rs.2,870 per gram from 22nd to 26th December
Overall Performance Decline
Percentage Change -1.83%

December 2016 - Week 1 (1st to 4th)

  • Economic capital Mumbai too was stifled by the after effects of demonetization.
  • At the beginning of the week at December 1st, gold traded at Rs.2,938 per gram.
  • As there was no catalytic changes to be seen over the week, gold prices remained largely unchanged throughout the week.
  • Gold traded at Rs.2,938, the same as on December 1st, over the course of the week.
  • As PAN card details were made mandatory by every jeweller, gold prices remained the same and closed at Rs.2,938.

January 2017 - Week 2 (8th to 15th)

  • Gold prices in the country’s financial capital rose the whole of the second week, as increasing demand from the industrial sector kept prices high.
  • Gold traded at Rs.2,908 per gram on 8th January, maintaining its price from the previous week.
  • Prices rose by Rs.30 per gram to trade at Rs.2,938 per gram on 10th January as the Rupee fell against the U.S. Dollar, making exports cheaper.
  • Prices were steady for a day before rising to Rs.2,974 per gram on 12th January on sustained demand from the retail sector.
  • Prices stayed constant for the rest of the week, with gold ending the week trading at Rs.2,974 per gram on 15th January.
  • High domestic demand and conducive market conditions led to gold prices rising by Rs.66 per gram during the week.

December 2016 - Week 2 (5th-11th)

  • Economic capital Mumbai saw alarming increase and decrease in gold trading prices, although the fluctuation happened on three instances.
  • Prices remained the same for the first three days of the week, i.e., December 5th to 7th, and stood at Rs.2,938 per gram.
  • On December 8th, prices slipped by about Rs.31 as it traded at Rs.2,907 per gram.Prices continued to be the same on December 9th too.
  • Prices fell again by about Rs.28 on December 10th and as gold trading closed at Rs.2,879 per gram at the end of the week on December 11th.

December 2016 - Week 3 (12th to 18th)

  • Economic capital Mumbai saw quite some fluctuations throughout the week.
  • At the beginning of the week at December 12th, gold traded at Rs.2,879 per gram.
  • As there was no catalytic changes to be seen over the week, gold prices remained largely unchanged till the 14th.
  • Gold traded at Rs.2,842 on the 15th as demand began to fall.
  • When the week ended on the 18th, gold prices were down to Rs.2,826 per gram, a massive decrease of Rs.53 per gram.

December 2016 - Week 4 (19th to 25th)

  • The economic capital of India didn’t see much of a change in gold pricing either.
  • At the beginning of the week, gold traded at Rs.2,826 per gram and continued at the same rate till the 21st of the month.
  • The 22nd saw prices go down to Rs.2,810 per gram, and remained so till the end of the week on the 25th.

December 2016 - Week 5 (26th to 31st)

  • The price of gold in the country’s financial capital was much the same, as the effects of demonetisation continued to influence gold trading.
  • Gold was priced at Rs.2,810 per gram as the week began on 26th December, with investments being bolstered by a fluctuating market.
  • Prices rose sharply to Rs,2,848 per gram on 28th December as uncertainty due to impending announcements over demonetisation led to markets falling.
  • Gold reached Rs.2,884 per gram on 30th and 31st December as the year ended on a high for the yellow metal.
1st November rate Rs.3,168 per gram
30th November rate Rs.2,975 per gram
Highest rate in November Rs.3,247 per gram on 11th and 12th November
Lowest rate in November Rs.2,949 per gram on 25th to 27th November
Overall performance Decline
% Change -6.09%
Comparison for 24 K Gold Rates for Mumbai October '16

November '16 - Week 1 (1st to 6th)

  • Gold traded at Rs.3,168 per gram on 1st November.
  • Prices of gold edged higher as demand in the domestic market was driven by festive and wedding demand.
  • Gold prices climbed to Rs.3,197 per gram on 2nd October and remained unchanged going into to the second week of November.
  • In the global market, the dollar weakened giving demand for gold a boost.

November '16 - Week 2 (7th to 13th)

  • Gold traded at a steady pace this week.
  • The price of gold was Rs.3,197 per gram from 7th to 10th November.
  • There was a surge in gold rates owing to the wedding season demand, PM Modi’s surgical strike on black money and the aftermath of the U.S. elections.
  • Gold traded at Rs.3,247 per gram on 11th and 12th November, the highest for this week.
  • By the end of the week, gold rates dropped to Rs.3,082 per gram as cash purchases required PAN card details.

November '16 - Week 3 (14th to 20th)

  • Gold traded at Rs.3,082 per gram from 14th to 17th November.
  • Constant rates were a direct result of stalled demand in the domestic market on account of the strike on black money.
  • On the global front, gold prices edged higher as the dollar retreated but this did not affect gold rates in Mumbai.
  • Gold prices dipped further to Rs.3,009 per gram on 18th November as the Indian economy experienced a shortage of cash.
  • Prices remained unchanged for the rest of the week.

November '16 - Week 4 and 5 (21st to 30th)

  • At the start of the week, gold prices lulled at Rs.3,009 per gram.
  • Gold rates dropped drastically as the demonetisation move by PM Modi took a toll on the nation’s cash supply.
  • Gold fell to Rs.2,949 per gram between 25th and 27th November, the lowest price for this week.
  • A rising dollar in the global market coupled with a nearing Fed rate hike also put immense pressure on gold prices.
  • Gold traded at Rs.2,975 per gram from 28th to 30th November.
1st October rate Rs.3,249 per gram
31st October rate Rs.3,168 per gram
Highest rate in October Rs.3,249 per gram on 1st and 2nd October
Lowest rate in October Rs.3,123 per gram on 7th October to 9th October
Overall performance Decline
% Change -2.49%
Comparison for 24 K Gold Rates for Mumbai September'16

October '16 - Week 1 (1st to 7th)

  • Gold prices fell this week in Mumbai as there was a downturn in global and domestic trends.
  • Gold traded at Rs.3,249 per gram on 1st and 2nd October.
  • Prices dipped as fears of a Fed rate hike took over the market.
  • On the domestic front, customers have been enquiring about jewellery but are reluctant to buy as yet. Jewellers are pinning their hopes on the Dhanteras and Navaratri.
  • Gold had fallen to Rs.3,123 per gram by the end of the week.

October '16 - Week 2 (8th to 14th)

  • The trend for gold was an incline this week, but prices fell on the last day owing to weak global trends.
  • Gold traded at Rs.3,123 per gram on 8th and 9th October.
  • Prices climbed as domestic jewellers increased their appetite for gold in light of the festive season.
  • As prices fell last week, there was an increase in footfall as customers started their festive shopping early.
  • Increased demand and positive global trends gave gold prices a boost to Rs.3,143 per gram on 13 October.
  • On the last day of the week, prices plummeted to Rs.3,133 per gram as the prospect of a Fed rate hike of 20-25 basis points loomed over the global market.
  • Demand fell in the domestic spot market as well.

October '16 - Week 3 (15th to 21st)

  • Gold continued to trade at Rs.3,133 per gram from last week.
  • Prices remained constant on account of steady demand in the domestic market on account of the wedding season.
  • Strong global trends also kept gold prices stable.
  • On 20th October, gold rates increased to Rs.3,154 per gram and remained unchanged on 21st as well.

October '16 - Week 4 (22nd to 28th) & Week 5 (29th to 31st)

  • Gold traded at a steady pace this week.
  • The price of gold was Rs.3,154 per gram from 22nd October to 25th October.
  • A weak dollar and speculations of a gradual Fed rate hike in the global market gave gold prices a boost.
  • In the domestic market, demand for gold was high on account of the festive and wedding seasons.
  • Gold traded at Rs.3,168 per gram from 26th October till 31st October.
1st September rate Rs.3,212 per gram
30th September rate Rs.3,279 per gram
Highest rate in September Rs.3,285 per gram on 23rd to 26th September
Lowest rate in September Rs.3,212 per gram on 1st September
Overall performance Increase
% Change 2.09%
Comparison for 24 K Gold Rates for Mumbai August'16

September '16 - Week 1 and 2 (1st to 10th)

  • Gold remained stable through the first two weeks in Mumbai.
  • Gold traded at Rs.3,212 per gram on 1st and 2nd September.
  • On account of global trends coupled with domestic demand, gold rates rose to Rs.3,229 per gram for the rest of the week.

September '16 - Week 3 (11th to 17th)

  • Gold rates increased marginally this week as domestic demand was stable.
  • Gold traded at Rs.3,229 per gram on 11th September and rose to Rs.3,246 per gram between 13th and 15th September despite gloomy global trends.
  • The pressure of a Fed rate hike this month eventually took its toll on the yellow metal and prices dropped to Rs.3,231 per gram towards the end of the week as demand slackened in the domestic and global markets.

September '16 - Week 4 (18th to 24th)

  • Gold traded at Rs.3,231 per gram on 18th September.
  • Prices increased as the week progressed on account of a positive atmosphere in the global markets.
  • Anticipation of an interest rate hike by the U.S. Federal Reserve has been put to rest for now.
  • Domestic demand has been on the rise as the festive season is near.
  • Gold traded at Rs.3,285 per gram on 23rd and 24th September.

September '16 - Week 5 (25th to 30th)

  • Gold rates fell this week but managed to stay stable for majority of the week.
  • Gold traded at Rs.3,285 per gram at the start of the week.
  • Prices fell to Rs.3,279 per gram on 27th September as the global market turned bearish amid a rising dollar.
  • Demand in the domestic market was not booming but was able to keep prices stable.
1st July rate Rs.3,249 per gram
31st July rate Rs.3,225 per gram
Highest rate in July Rs.3,283 per gram on 18th August
Lowest rate in July Rs.3,226 per gram on 6th to 9th August
Overall performance Decline
% Change -0.74%
Comparison for 24 K Gold Rates for Mumbai July'16

August '16 - Week 1 (1st to 7th)

  • The price of gold rose gradually as the week commenced on strong trading as well as heightened domestic demand.
  • Prices were recorded at Rs.3,249 per gram on the 1st of August, falling to Rs.3,226 per gram on the 7th of August.
  • Prices declined as demand fell due to a strengthening Dollar on the back of strong U.S. data and a resurgent equity market.

August '16 - Week 2 (8th-14th)

  • Gold traded at Rs.3,226 on 8th August.
  • The rates for the yellow metal firmed up through the week as the dollar weakened.
  • Expectations of a Fed rate hike lowered as the U.S. retail data seemed sluggish.
  • Gold rose to Rs.3,260 per gram owing to a boost in domestic demand.

August '16 - Week 3 (15th-21st)

  • Gold traded at Rs.3,260 per gram on 15th August.
  • Gold rates climbed at a stable pace owing to a rise in demand in the domestic market as the festive season approaches.
  • Gold rates dropped slightly as the U.S. is confident that a Federal Reserve hike is possible this year.
  • Gold closed at Rs.3,278 per gram on 21st August, marking an overall increase for the week.

August '16 - Week 4 (22nd-28th)

  • Gold prices remained stable for majority of the week, however, the overall trend indicated a major decline in prices.
  • Owing to conflicting signals from the U.S. Federal Reserve about an interest rate hike this year, gold prices have been affected in the recent months.
  • Gold traded at Rs.3,278 per gram on 22nd August and fell to Rs.3,236 per gram by the end of the week on account of a stronger dollar.

August '16 - Week 5 (29th-31st)

  • Gold traded at Rs.3,236 per gram at the beginning of the week.
  • Rates soon slipped as the dollar gained on the back of strong U.S. payroll data.
  • Domestic demand was muted following the sluggish overseas trends.
  • Gold traded at Rs.3,225 per gram on 31st August and continued to drop entering September.
1st July rate Rs. 3,154 per gram
31st July rate Rs. 3,249 per gram
Highest rate in July Rs. 3,154 per gram on July 1
Lowest rate in July Rs. 3,018 per gram on July 31
Overall performance Decline
% Change -4.31%
Comparison for (1 gram) Silver Rates for Mumbai Jun'16

July'16 - Week 1 and 2 (1st to 10th)

  • Gold traded at Rs.3,112 on 1st July and the prices only increased through the week.
  • Demand for gold was up as it proved to be a safe haven investment amidst the Brexit vote, however, a strong dollar supported by stable U.S. job data brought the prices back down on July 8th.
  • Gold rates were pushed up to Rs.3,246 on July 9th and remained stable till the end of the week.

July'16 - Week 3 (11th to 17th)

  • Gold prices were stable for most of the week, with a slight rise at the end of the week thanks to renewed interest in gold in the domestic market.
  • Prices were recorded at Rs.3,226 per gram on the first day of the week and Rs.3,234 per gram on the last day of the week.
  • Prices remained stable for most of the week before rising at the end, with the difference in prices between first and last days being Rs.8.

July '16 - Week 4 (18th to 24th)

  • Gold rates in Mumbai slipped slowly through the week.
  • On 18th July, gold traded at Rs.3,234 after which it dropped off Rs.10 trading at Rs.3,224 till 21st July.
  • Strong U.S. non-farm payroll data has led to a stronger dollar, resulting in gold prices falling.
  • Expectations of a U.S. Federal Reserve hike, weak global trends and negligible demand in the domestic market have all contributed to easing gold prices.

July‘16 - Week 5 (25th to 31st)

  • Prices remained constant at Rs.3,223 between the 25th and 30th of July.
  • An increase of Rs.26 drove prices up to Rs.3,249 per gram, which was the price of the precious metal at the close of the month.
1st June rate Rs.3,038
30th June rate Rs.3,112
Highest rate in June Rs.3,192 on 27th of June
Lowest rate in June Rs.3,015 on 3rd of June
Overall performance Rise
% Change +5.87
Comparison for 24 K Gold Rates for Mumbai May'16

Jun'16 - Week 1 (1st to 5th)

  • Gold rates in Mumbai were relatively stable at the beginning of June.
  • Rates climbed on 5th June as the U.S. dollar weakened owing to data reports from the Labor Department noting the lowest number of job creations in five and a half years.
  • Gold traded at Rs. 3,038 on 1st June and Rs. 3,063 on 5th June.

Jun'16 - Week 2 (6th to 12th)

  • Gold traded at Rs. 3,063 per gram. on the 6th and 7th of June.
  • Prices increased further as gold traded at Rs. 3,078 per gram on the 9th of June.
  • Gold hit the highest for the week on the11th and 12th of June at Rs. 3,123 per gram.

Jun'16 - Week 3 (13th to 19th)

  • Gold traded at Rs. 3,123 per gram on the 13th of June.
  • There was no change in the gold rate for the whole week as gold price remained the same at Rs. 3,123 per gram from the 13th of June to the 19th of June.

Jun'16 - Week 4 (20th to 26th)

  • Although there were minor fluctuations seen throughout the month of June, the rate of gold was completely stable during the course of the week.
  • The rate of gold was the same at Rs. 3,075 per gram and was the same throughout the month.
  • Due to increased demand, reducing expectations of U.S. Federal rate hike, price of gold saw a steady increase.

Jun'16 - Week 5 (27th to 30th)

  • Gold rates fluctuated during the week but the changes were marginal thanks to strong local and international trends in addition to strong demand.
  • Prices were Rs.3,192 on the 27th of June and Rs.3,112 on the 30th of June.
  • The overall decline in prices between the start and the end of the week was just Rs.80.
1st May rate Rs. 3,154 per gram
31st May rate Rs. 3,018 per gram
Highest rate in May Rs. 3,154 per gram on May 1
Lowest rate in May Rs. 3,018 per gram on May 31
Overall performance Decline
% Change -4.31%
Graph for Gold Rate in Mumbai for April 2016

May'16 - Week 1 (1st to 7th)

  • Gold rates were stable during the week as no significant changes were recorded.
  • Prices were Rs.3,154 on the 1st of May and Rs.3,123 on the 7th of May.
  • Prices were mostly constant as there were no major events to influence the change of prices.

May ‘16 - Week 2 (8th to 14th)

  • Gold rates were stable during the week as no significant changes were recorded.
  • Prices were Rs.3,155 on the 8th of May and Rs.3,112 on the 14th of May.
  • Prices remained the same for the first four days of the week before recording a small decline after which they remained at the same level until the end of the week.

May ‘16 - Week 3 (15th to 21st)

  • Gold rates remained stable for most parts of the week as there were no international or domestic events to affect prices.
  • Prices were Rs.3,140 on the 15th of May and Rs.3,094 on the 21st of May.
  • Prices remained the same for the first two days of the week after which they declined marginally and remained constant until the last day of the week when they rose by Rs.76.

May ‘16 - Week 4 (22nd to 28th)

  • Gold rates were stable at the beginning of the week but started to fall quickly.
  • Gold prices were Rs. 3,094 on the 22nd of May and Rs. 3,025 on the 28th of May.
  • Due to the decline in rates globally, Mumbai was also affected with the rates steadily dropping through the week.

May ‘16 - Week 5 (29th to 31st)

  • There were minor changes in the price of gold as the month of May progressed.
  • On the last day of the month, gold closed at Rs. 3,018 per gram.
  • The highest price at which gold traded was on 7th of may at Rs. 3,155 per gram.
1st April rate Rs 2,989
30th April rate Rs 3,154
Highest rate in April Rs 3,154 on 30th
Lowest rate in April Rs 2,989 from 1st to 11th
Overall performance Gain/Positive
% Change + 5.52%
Comparison for 24 K Gold Rates for Mumbai,March'16

Apr'16 - Weeks 1 & 2 (1st to 10th)

  • Gold prices were stable at Rs.2,989 over the first ten days of April as bullion traders continued their strike over implementation of excise duty on gold jewellery sales
  • On the global front, prices appreciated as the Fed looked set to postpone rate hikes while weak economic data from the US central bank and weak dollar reinforced gold as safe investment.

Apr ‘16 - Week 3 (11th to 17th)

  • Gold rates were constant at Rs.3,038 over the course of the third week as trading remained suspended for the most part.

Apr ‘16 - Week 4 (18th to 24th)

  • Gold lost marginal value in this week.
  • Prices were stable at Rs.3,038 till 23rd before losing Rs.5 on 24th to settle at Rs.3,033.

Apr ‘16 - Week 5 (25th to 30th)

  • Gold rates remained constant at Rs 3,033 from 25th to 28th.
  • An increase of over Rs 80 was seen on 29th, with prices hitting Rs 3,120.
  • The week ended with gold trading at Rs 3,154, the highest for the month.

1st March rate

Rs 3,068

31st March rate

Rs 2,989

Highest rate in March

Rs 3,093 from 12th to 17th

Lowest rate in March

Rs 2,989 from 22nd to 31st

Overall performance

Loss/Negative

% Change

-2.57%

Comparison for 24 K Gold Rates for Mumbai Feb'16

Mar'16 - Week 1 (1st to 6th)

  • Gold trading remained suspended in Mumbai as jewellers and traders called for an indefinite strike against the proposal made in Budget 2016-17 that levied an additional 1% excise duty on jewellery sales.
  • Gold rates were constant at last week’s closing rate of Rs.3,068.

Mar'16 - Week 2 (7th to 13th)

  • Jewellers and associations continued their agitation for the second straight week as deadlock continued over imposition of 1% excise duty on non-silver jewellery purchases and PAN card detail disclosures on jewellery transactions over Rs.2 lakh.
  • Gold rates were constant at last week’s closing rate of Rs.3,068 till 11th before settling at Rs.3,093 for the rest of the week.

Mar ‘16 - Week 3 (14th to 20th)

  • Markets were once again closed over the week as protests continued.
  • Gold was selling at Rs.3,093 till 17th and Rs.3,033 from thereon.

Mar ‘16 - Week 4 (21st to 27th)

  • Gold saw another week of muted trade as traders brought the protests into the fourth week though jewellers were open for business in most parts of the city.
  • There was no major movement of rates as prices were stable at Rs.2,989 all through the week.

Mar ‘16 - Week 5 (28th to 31st)

  • Market performance exceeded expectations, nearing record quarterly numbers.
  • Strong international performance of gold resulted in better local rates.
  • Gold prices in the city stayed constant at Rs 2,989 throughout the week.

1st February rate

Rs.2,714

29th February rate

Rs.3,068

Highest rate in February

Rs.3,068 on 27th, 28th and 29th

Lowest rate in February

Rs.2,714 on 1st

Overall performance

Gain/Positive

% Change

+13.04%

Comparison for Gold Rate 24 K for Mumbai

Feb'16 - Week 1 (1st to 7th)

  • Gold had a profitable 1st week in February, rising by an overall amount of Rs.168 and touching a 9-month high of Rs2,882.
  • Prices were Rs.2,714 on 1st and Rs.2,882 on 7th.
  • Gold gained value on all days of the week on the back of wedding season demand from domestic jewellers as well as positive global cues.
  • Gold breached the 2,800-mark for the first time this year on 4th to settle at Rs.2,832.
  • Prices continued going upwards and ended the week at a high of Rs.2,882.

Feb '16 - Week 2 (8th to 14th)

  • Gold prices appreciated again during the 2nd week, breaching the Rs.3,000-mark for the first time in almost 2 years.
  • Prices were Rs.2,875 on 8th and Rs.2,944 on 14th.
  • Prices rose on the back of a weaker rupee, strong global cues and ongoing buying from jewellers and retailers to meet the wedding season demand.
  • Prices breached the 2,900-mark on 9th for the first time this year and settled at Rs.2,942 for 9th and 10th.
  • Gold declined to Rs.2,833 on 11th before rising by Rs.208 in a single day to breach the 3,000-mark and settle at Rs.3,045.
  • Prices slid to Rs.2,944 on 13th and remained stable there on 14th to end the week on a positive note.

Feb '16 - Week 3 (15th to 21st)

  • Gold prices appreciated again in the third week, as global cues remained strong and the domestic demand was at healthy levels.
  • Prices were Rs.2,994 on 15th and Rs.3,028 on 21st.
  • Gold dropped at the start of the week to Rs.2,952 as demand was muted on that day while global cues were also weak, however prices started appreciating from 17th onwards.
  • Gold breached the Rs.3,000-mark once again this month as it settled at Rs.3,028 from 19th to 21st to end the week on a high note.

Feb '16 - Week 4 (22nd to 29th)

  • Gold continued its gainful streak toward the end of February, rising on the back of strong global cues and scattered domestic demand.
  • Prices were Rs.3,005 on 22nd and Rs.3,068 on 29th.
  • Gold had consecutive positive sessions which saw overall gains in the month touching 4-year highs.
  • Prices were stable at Rs.3,005 till 23rd before rising substantially by Rs.59 on 25th to touch Rs.3,064.
  • Gold gained marginally on 27th to rise to Rs.3,068 and remained stable at that level for the rest of the week.
4th January rate Rs.2,621
31st January rate Rs.2,775
Highest rate in January Rs.2,789 on 27th, 28th and 29th
Lowest rate in January Rs.2,541 on 5th
Overall performance Gain/Positive

Jan'16 - Week 1 (4th to 10th)

  • Gold rates were marginally up in the 1st week of trading in 2016.
  • Prices were Rs.2,621 on 4th and Rs.2,630 on 10th.
  • There was a drop of Rs.66 on 5th when prices fell to Rs.2,583.
  • Gold rebounded from the low on 5th to appreciate continuously from 6th to 9th by an overall margin of Rs.81 to take prices to Rs.2,630. Prices were stable on 10th on account of it being a Sunday.

Jan '16 - Week 2 (11th to 17th)

  • Gold lost value in the 2nd week of trading in January.
  • Prices were Rs.2,636 on 11th and Rs.2,598 on 17th.
  • Gold remained stable for the first three days, selling at Rs.2,634 by 13th.
  • Prices dropped by Rs.36 on 14th to settle at Rs.2,598, amid reduced demand for spot gold by jewellers.
  • Gold rates were stable at Rs.2,598 for the rest of the week

Jan '16 - Week 3 (18th to 24th)

  • Gold prices appreciated substantially during the 3rd week.
  • Prices were Rs.2,654 on 18th and Rs.2,729 on 24th.
  • Gold dropped to Rs.2,644 on 19th before rallying over the next 3 days to breach Rs.2,700-mark and settle at Rs.2,736 by 22nd.
  • Prices dropped by Rs.75 on 23rd to fall to Rs.2,661 but rallied on 24th by Rs.68 to cover the losses and end the week at Rs.2,729.

Jan '16 - Week 4 (24th to 31st)

  • Gold rates appreciated towards the end of January as Fed rate speculations softened dollar while domestic demand from jewellers was also high.
  • Prices were Rs.2,729 on 25th and Rs.2,775 on 31st.
  • Gold rallied by Rs.60 till 27th to settle at Rs.2,789, where it remained till 29th.
  • Prices dropped drastically on 30th by Rs.89 to touch Rs.2,700 before covering the losses on the last day of the month to end at Rs.2,775.

1st December rate

Rs.2,550

31st December rate

Rs.2,558

Highest rate in December

Rs.2,665 on 5th and 6th

Lowest rate in December

Rs.2,550 on 1st

Overall performance

Gain/Positive

% Change

+0.31%

Dec'15 - Week 1 (1st to 7th)

  • Gold prices in Mumbai appreciated in the 1st week of December.
  • Rates were Rs.2,550 on 1st and Rs.2,596 on 7th.
  • Gold was volatile over the week as prices went on a see-saw ride.
  • There was a gain of Rs.80 on 2nd when prices breached the Rs.2,600 mark to rest at Rs.2,630.
  • Prices declined by Rs.63 on the next day to fall to Rs.2,567 on 3rd.
  • Gold depreciated on 4th but picked up on 5th to settle at Rs.2,665 for 5th and 6th.
  • Prices dropped on 7th by Rs.69 to end the week at Rs.2,596.

Dec'15 - Week 2 (8th to 14th)

  • Gold rates were volatile in the 2nd week.
  • Prices were Rs.2,593 on 8th and Rs.2,597 on 14th.
  • Gold dropped by Rs.23 on 9th to fall to Rs.2,571 and was priced Rs.2,579 on 10th and Rs.2,575 on 11th.
  • Prices dropped to Rs.2,565 on 12th before rallying by Rs.99 to Rs.2,664 on 13th.
  • Gold declined by Rs.67 on 14th to settle at Rs.2,597 for the week.

Dec'15 - Week 3 (15th to 21st)

  • Gold rates depreciated in the 3rd week.
  • Prices were Rs.2,576 on 15th and Rs.2,552 on 21st.
  • Gold dropped by Rs.13 on 16th to fall to Rs.2,561 before losing another Rs.3 over the next 2 days to settle at Rs.2,560 on 18th.
  • Gold rallied by a substantial Rs.54 on 19th to cross Rs.2,600 mark and rest at Rs.2,614.
  • Prices were stable on 20th and fell steeply on 21st by Rs.62 to rest at Rs.2,552 for the week.

Dec'15 - Week 4 (22nd to 28th)

  • Gold rates were volatile in the 4th week.
  • Prices were Rs.2,562 on 22nd and Rs.2,558 on 28th.
  • Gold appreciated steeply to Rs.75 on 23rd to breach 2,600-mark for the first time in the week.
  • Gold dropped from Rs.2,637 on 23rd to Rs.2,558 on 24th, a drop of Rs.79.
  • Prices again picked up on 25th by Rs.69 to settle at Rs.2,627.
  • Gold remained stable at Rs.2,627 till 27th before dropping substantially by Rs.69 on 28th to end at Rs.2,558.

Dec'15 - Week 5 (29th to 31st)

  • Gold rates were mostly stable in the final days of the month.
  • Prices were Rs.2,562 on 29th and Rs.2,558 on 31st.
  • Gold was priced at Rs.2,563 on 30th before dropping to RS.2,558 on 31st.

1st November rate

Rs.2,686.50

30th November rate

Rs.2,558

Highest rate in November

Rs.2,686.50 on 1st

Lowest rate in November

Rs.2,550 on 21st, 22nd and 25th

Overall performance

Loss/Negative

% Change

-4.78%

Nov '15 - Week 1 (1st to 7th)
  • Gold rates dropped in the first week of November.
  • Gold was priced at Rs.2,686.50 on 1st and Rs.2,590 on 7th.
  • There was marginal gain in rates on 3rd when prices rose to Rs.2,680 from Rs.2,674 on the previous day.
  • Gold lost Rs.90 in value over the next four days.
  • Gold traded in the red on 4th, 5th, 6th and 7th.

Nov '15 - Week 2 (8th to 14th)

  • Gold had a turbulent 2nd week in Mumbai.
  • Rates were Rs2,590 on 8th and Rs.2,557 on 14th.
  • Prices climbed to Rs.2,612 on 9th before falling by Rs.32 on 10th to rest at Rs.2,580.
  • Gold rate dropped again on 11th before rallying on 12th to gain Rs.53.50 and touch Rs.2,627.
  • Prices dropped over the next two days by Rs.26 and Rs.44 to rest at Rs.2,557 on 14th.

Nov '15 - Week 3 (15th to 21st)

  • Gold had a stable performance as per week beginning and end rates.
  • Prices were Rs.2,557 on 15th and Rs.2,550 on 21st.
  • Rates appreciated to Rs.2,680 on 16th before losing out the value on the next day to rest at Rs.2,595.
  • There were more negative sessions for gold with week end level touching Rs.2,550.

Nov '15 - Week 4 and 5 (22nd to 30th)

  • Gold lost value in the last 9 days of the month.
  • Prices were Rs.2,617 on 22nd and Rs.2,560 on 30th.
  • Gold depreciated by Rs.44 over 23rd and 24th to fall to Rs.2,573 on 24th before regaining the lost value on 25th to once again settle at Rs.2,617.
  • Prices feel again on the next day to Rs.2,582 and settled at Rs.2,579 by 29th.
  • Gold lost Rs19 on the last day of the month to touch Rs.2,560.

1st October rate

Rs.2,621

31st October rate

Rs.2,686.50

Highest rate in October

Rs.2,728 on 16th

Overall performance

Gain/Positive

% Change

+1.72%

Oct '15 - Week 1 (1st to 7th)

  • Gold rate appreciated in the first week of October.
  • Prices were Rs.2,641 on 1st and Rs.2,664 on 7th.
  • Gold gained significant value on 4th when prices rose to Rs.2,667 from Rs.2,625 at day closing rates.
  • Prices were stable in the next two days.

Oct '15 - Week 2 (8th to 14th)

  • Gold gained some value in the second week of the month.
  • It was priced at Rs.2,672 on 8th and Rs.2,686 on 14th.
  • There was a gain in value on 13th when prices rose to Rs.2,698 almost breaching the 2,700 mark.

Oct '15 - Week 3 (15th to 21st)

  • Gold rates were stable for the third week of the month.
  • Prices were Rs.2,716 on 15th and Rs.2,717 on 21st.
  • Prices stayed between Rs.2,710 to Rs.2,730 for this week indicating a stable week for rates.
  • Prices peaked on 16th at Rs.2,728, which was the highest gold rate in Mumbai for October.

Oct '15 - Week 4 (22nd to 28th)

  • Gold rates appreciated marginally in the fourth week of October.
  • Prices were Rs.2,687 on 22nd and Rs.2,707 on 28th.
  • Gold gained value on 23rd and 26th.
  • Prices were Rs.2,701 and Rs.2,704 on 26th and 27th respectively.

Oct '15 - Week 5 (29th to 31st)

  • Gold rate declined considerably in the last 3 days of the month.
  • Prices were Rs.2,721 on 29th, which declined to Rs.2,686.50 on 30th and maintained the rate on 31st.

Gold price in Mumbai at the start of the September was Rs.2,701 as on 1st September. Rates declined over the first week and reached a mid-week low of Rs.2,667 on 4th September. Prices stayed at the same level over the next few days, with gold priced at Rs.2,675 by the end of the first week. There was a downward spiral of gold rate in the next week, when prices dropped to Rs.2,630 by 14th September.

Gold rate remained at the Rs.2,630 over the next two days before rallying on 17th and 18th of the month. Prices continued in the upward trend and reached Rs.2,669 on 21st September, the highest gold rate in the 3rd week of the month. 4th week saw prices drop in the first two days to Rs.2,648 by 23rd before climbing steeply in the next couple of days to Rs.2,701 and matching month-start gold rates. Prices went stable till 28th, however there was a drop on 29th when the rate was clocked at Rs.2,652.

Gold rate in the month of September has been volatile but the month start and end rates were largely similar. Gold rates can be expected to remain volatile in the coming days however the approaching festive season will help enhance gold rates in Mumbai.

Also check Today's Gold Rate in the most popular Indian cities

Today's Gold Rate in Delhi Today's Gold Rate in Mumbai Today's Gold Rate in Chennai
Today's Gold Rate in Kolkata Today's Gold Rate in Bangalore Today's Gold Rate in Hyderabad
Today's Gold Rate in Pune Today's Gold Rate in Coimbatore Today's Gold Rate in Ahmedabad
Gold Rate In Metro Cities
Gold Rate In Other Capitals
Gold Rate In Other Major Cities
Gold Rate In States
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