Gold Price Trend In Mumbai

Trend of Gold Rate in Mumbai for December 2018 (rates per gram of 24 karat gold)

Parameters Gold price (24 karat)
December 1 Rate Rs.3,131 per gram
December 31 Rate Rs.3,219 per gram
Highest Rate in December Rs.3,234 per gram from 11 t0 17 December
Lowest Rate in December Rs.3,131 per gram on 1 December
Overall Monthly Performance Incline
Percentage Change 2.81%
Comparison for 24 K Gold Rates for Mumbai December 2018
Graph for Gold Rate (24K) in Mumbai December 2018

December 2018 - Week 1 (1 - 9):

Parameters Gold price (per gram of 24 karat gold)
December 1 Rate Rs.3,131 per gram
December 9 Rate Rs.3,208 per gram
Overall Weekly Performance Incline
  • Gold regained its sheen as both retail and industrial demand rose on positive cues and a surge in retail buying due to the wedding season.
  • The yellow metal opened the week at Rs.3,131 per gram and rose to Rs.3,156 per gram on 4 December on strong overseas demand.
  • Industrial demand rose sharply as gold rates in Mumbai jumped to Rs.3,208 per gram from 7-9 December to record an increase of Rs.77 during the week.

December 2018 - Week 2 (10 - 16):

Parameters Gold price (per gram of 24 karat gold)
December 10 Rate Rs.3,208 per gram
December 16 Rate Rs.3,234 per gram
Overall Weekly Performance Incline
  • Gold rates in Mumbai continued to rise as local demand bolstered the metal’s prices in spite of conflicting cues and weak overseas trends.
  • The precious metal traded at Rs.3,208 per gram on 10 December before rising to Rs.3,234 per gram on 11 December on a sharp rise in overseas demand.
  • Prices remained unchanged for the remainder of the week as local demand propped up demand, resulting in the metal recording an increase of Rs.26 during the week on steady order volumes.

December 2018 - Week 3 (17 - 23):

Parameters Gold price (per gram of 24 karat gold)
December 17 Rate Rs.3,234 per gram
December 23 Rate Rs.3,199 per gram
Overall Weekly Performance Decline
  • Mumbai saw gold start strongly - at Rs.3,234 per gram as there was an increased demand for the metal.
  • However, prices tumbled as days progressed due to a weak local demand despite improved demand in the global circles.
  • Gold traded at Rs.3,218 per gram from the 18th to the 21st before falling further to Rs.3,199 per gram which held on till the end of the week.

December 2018 - Week 4 (24 - 31):

Parameters Gold price (per gram of 24 karat gold)
December 24 Rate Rs.3,199 per gram
December 31 Rate Rs.3,219 per gram
Overall Weekly Performance Incline
  • The last week began with gold priced at Rs.3,199 per gram on the 24th with strong demand from market participants amid the intensifying Sino-US trade dispute and speculations over a partial US government shutdown.
  • Strong safe-haven demand coupled with positive global cues led to gold rate in Mumbai surging to Rs.3,219 per gram on the 28th.
  • With the global bullion prices hovering near six-month high figures, trading concluded for the month with gold prices holding at Rs.3,219 per gram on the 31st, registering a 2.81% increase in rates during the course of the month.

Trend of Gold Rate in Mumbai for November 2018 (rates per gram of 24 karat gold)

Parameters Gold price (24 karat)
November 1 Rate Rs.3,302 per gram
November 30 Rate Rs.3,140 per gram
Highest Rate in November Rs.3,302 per gram on 1 November
Lowest Rate in November Rs.3,140  per gram on 30 November
Overall Monthly Performance Decline
Percentage Change -4.90%

November 2018 - Week 1 (1 - 4):

Parameters Gold price (per gram of 24 karat gold)
November 1 Rate Rs.3,302 per gram
November 4 Rate Rs.3,266 per gram
Overall Weekly Performance Decline
  • The month began with gold in Mumbai holding at Rs.3,302 per gram on the 1st with domestic markets capitalising on the previous week’s gains.
  • However, with equity and stock markets faring well, demand for the yellow dropped and gold was recorded trading at Rs.3,276 per gram on the 2nd.
  • Trading closed for the week with gold priced at Rs.3,266 per gram on the with subdued demand from industries, jewellers and retailers.

November 2018 - Week 2 (5 - 11):

Parameters Gold price (per gram of 24 karat gold)
November 5 Rate Rs.3,266 per gram
November 11 Rate Rs.3,219 per gram
Overall Weekly Performance Decline
  • When trading commenced for the week, gold in Mumbai was priced at Rs.3,266 per gram on the 5th with steady local demand from industries, jewellers and retailers amid the firm trend overseas.
  • With domestic markets ramping up purchases ahead of Dhanteras, gold was recorded trading at Rs.3,277 per gram from the 6th to the 9th with strong local demand.
  • With global bullion markets weighed upon by the US Federal Reserve’s monetary policy review, demand dropped considerably and gold rate in Mumbai was recorded holding at Rs.3,219 per gram towards the end of the week.

November 2018 - Week 3 (12 - 18):

Parameters Gold price (per gram of 24 karat gold)
November 12 Rate Rs.3,219 per gram
November 18 Rate Rs.3,209 per gram
Overall Weekly Performance Decline
  • The week began with gold priced at Rs.3,219 per gram and remained stable for the next few days on steady demand.
  • A drop in retail and industrial offtake due to the rising dollar rate was reflected in the gold rate in Mumbai, which fell to Rs.3,209 per gram on 15 November.
  • Midterm elections in the U.S. and the final Brexit deal caused uncertainty across global markets, which prompted higher interest in bullion.
  • Gold rates were unchanged for the rest of the week, closing at Rs.3,209 per gram on 18 November to record a loss in value of Rs.10.

November 2018 - Week 4 (19 - 25)

Parameters Gold price (per gram of 24 karat gold)
November 19 Rate Rs.3,209 per gram
November 25 Rate Rs.3,171 per gram
Overall Weekly Performance Decline
  • Echoing trends seen across other cities, gold rates in Mumbai fell sharply due to stagnant local demand and poor overseas cues.
  • Gold traded at Rs.3,209 per gram on 19 November before dropping to Rs.3,187 per gram on 20 November as jewellers reduced orders due to declining retail sales.
  • Prices were stable for a few days as industrial orders stabilised prices in spite of a weakening overseas trend.
  • The end of the week saw gold slide to Rs.3,171 per gram on 25 November as the metal recorded a loss in value of Rs.38 during the week.

November 2018 - Week 5 (26 - 30):

Parameters Gold price (per gram of 24 karat gold)
November 26 Rate Rs.3,171 per gram
November 30 Rate Rs.3,140 per gram
Overall Weekly Performance Decline
  • Gold rates in Mumbai dropped sharply this week, as festive demand fell on poor market trends.
  • The yellow metal was priced at Rs.3,171 per gram on 26 November and remained steady for most of the week.
  • Overseas fluctuations did not affect prices, as jewellers increased orders and kept prices steady.
  • The success of trade negotiations between the U.S. and China bolstered the dollar, as gold dropped to Rs.3,140 per gram on 30 November.

Trend of Gold Rate in Mumbai for October 2018 (rates per gram of 24 karat gold)

Parameters Gold price (24 karat)
October 1 Rate Rs.3,140 per gram
October 31 Rate Rs.3,302 per gram
Highest Rate in October Rs.3,302 per gram on 30 and 31 October
Lowest Rate in October Rs.3,228 per gram on 9 October
Overall Monthly Performance Incline
Percentage Change 5.15%
Comparison for 24 K Gold Rates for Mumbai oct-1 2018
Graph for Gold Rate (24K) in Mumbai oct-1 2018

October 2018 - Week 1 (1 - 7):

Parameters Gold price (per gram of 24 karat gold)
October 1 Rate Rs.3,140 per gram
October 7 Rate Rs.3,253 per gram
Overall Weekly Performance Incline
  • Gold prices in Mumbai skyrocketed as growing retail demand kept pace with prices, in spite of the falling rupee.
  • The week began with gold priced at Rs.3,140 per gram with the price remaining constant for a few days due to static industrial demand.
  • Prices jumped to Rs.3,190 per gram on 3 October as the dollar suffered from a drop in investor confidence, prompting increased interest in bullion.
  • The start of the wedding season saw local demand rise sharply, as gold traded at Rs.3,209 per gram on 5 October.
  • The end of the week saw a further rise in gold prices, which leaped to Rs.3,253 per gram on 7 October to record a rise in price of Rs.113.

October 2018 - Week 2 (8 - 14):

Parameters Gold price (per gram of 24 karat gold)
October 8 Rate Rs.3,253 per gram
October 14 Rate Rs.3,228 per gram
Overall Weekly Performance Decline
  • Week 2 in Mumbai began with the US economy recording positive trends causing the value of the dollar to rise. In effect, the price of gold in the city dipped to Rs.3,253 per gram.
  • Global stocks declined in value on 11 October, thereby boosting the price of gold in Mumbai.
  • Although Asian stocks plummeted, the price of gold in Mumbai dipped on 14 October. The week ended on a declining trend as gold was priced at Rs.3,228 per gram.

October 2018 - Week 3 (15 - 21):

Parameters Gold price (per gram of 24 karat gold)
October 15 Rate Rs.3,228 per gram
October 21 Rate Rs.3,281 per gram
Overall Weekly Performance Incline
  • The steep rise in gold prices in Mumbai continued this week, as retail demand spiked ahead of the festive and wedding seasons.
  • Gold traded at Rs.3,228 per gram on 15 October, reflecting no change from the previous week.
  • Prices jumped to Rs.3,287 per gram on 16 October as profit-booking combined with a drop in the dollar rate led to higher demand.
  • Overseas demand fluctuated as gold prices plunged to Rs.3,266 per gram on 18 October, though local demand was consistent.
  • Prices remained constant for a few days before gold rose to Rs.3,281 per gram on 21 October to record a rise in value of Rs.53 during the week.

October 2018 - Week 4 (22 - 28):

Parameters Gold price (per gram of 24 karat gold)
October 22 Rate Rs.3,281 per gram
October 28 Rate Rs.3,281 per gram
Overall Weekly Performance No change
  • In a departure from trends seen across other cities, there was no change in the price of gold in Mumbai for the week.
  • The week began with the metal priced at Rs.3,281 per gram on 22 October after rising significantly over the weekend.
  • The festive season prompted a surge in retail demand for the metal, but industrial demand dropped due to the climbing prices.
  • Markets crashed during the middle of the week but there was no change in gold prices in Mumbai.
  • The week ended with gold priced at Rs.3,281 per gram on 28 October, reflecting no change in price during the week.

October 2018 - Week 5 (29-31):

Parameters Gold price (per gram of 24 karat gold)
October 29 Rate Rs.3,281 per gram
October 31 Rate Rs.3,302 per gram
Overall Weekly Performance Incline
  • The festive season and fluctuating markets resulted in a steady rise in gold prices in Mumbai, with the precious metal opening the week at Rs.3,281 per gram on 29 October.
  • The imposition of fresh sanctions on Iran the following week rattled currencies and equity markets, resulting in investors looking to bullion as a safe-haven asset.
  • Prices jumped to Rs.3,302 per gram on 30 October on positive global cues and rising retail demand, though gains were capped due to the falling rupee.
  • The month ended with gold staying steady at Rs.3,302 per gram, recording a rise of Rs.21 per gram during the week on growing demand.

Trend of Gold Rate in Mumbai for September 2018 (rates per gram of 24 karat gold)

Parameters Gold price (24 karat)
September 1 Rate Rs.3,104 per gram
September 30 Rate Rs.3,140 per gram
Highest Rate in September Rs.3,178 per gram on 27 and 28 September
Lowest Rate in September Rs.2,115 per gram on 3 September
Overall Monthly Performance Incline
Percentage Change 1.15%
Comparison for 24 K Gold Rates for Mumbai August 2018
Graph for Gold Rate (24K) in Mumbai August 2018

September 2018 - Week 1 (1 - 8):

Parameters Gold price (per gram of 24 karat gold)
September 1 Rate Rs.3,104 per gram
September 8 Rate Rs.3,146 per gram
Overall Weekly Performance Incline
  • The first week of September saw gold prices in Mumbai rise steadily on positive market trends as well as a falling rupee.
  • The precious metal opened the month priced at Rs.3,104 per gram as local jewellers increased orders ahead of the festive season.
  • The low rupee rate added to the metal’s appeal, making it cheaper for importers as prices climbed to Rs.3,115 per gram on 3 September.
  • Prices were static for a few days as fluctuations in demand impacted gold’s value, though steady industrial orders kept prices from falling.
  • Fears of a trade war led to higher demand for the metal, as gold ended the week priced at Rs.3,146 per gram on 8 September.

September 2018 - Week 2 (9 - 14):

Parameters Gold price (per gram of 24 karat gold)
September 9 Rate Rs.3,146 per gram
September 14 Rate Rs.3,164 per gram
Overall Weekly Performance Incline
  • Gold trends in the country’s financial capital saw gold prices rise over the course of the second week.
  • The precious metal opened trading on 9 September at Rs.3,146 per gram, as prices remained unchanged from the previous week.
  • Poor local demand due to the falling rupee as well as a drop in industrial demand led to prices remaining static.
  • Prices rose to Rs.3,164 per gram on 12 September as markets were shaky following the escalating of trade tensions between the United States and China.
  • In spite of the falling rupee cutting gains from gold sales, the yellow metal was able to keep its price steady for the remainder of the week.
  • As a result of stable local demand and positive market factors, gold prices rose by Rs.18 over the course of the week.

September 2018 - Week 3 (15 - 22):

Parameters Gold price (per gram of 24 karat gold)
September 15 Rate Rs.3,148 per gram
September 22 Rate Rs.3,176 per gram
Overall Weekly Performance Incline
  • The financial capital of the country saw a rise in the price of gold as rising local demand and conducive market trends boosted the metal.
  • Gold was priced at Rs.3,148 per gram when trading began on 15 September with no change in price for a few days.
  • The fresh set of trade tariffs imposed by both the U.S. and China on each other’s imports negatively impacted markets, as investors bought gold to hedge losses.
  • Prices rose to Rs.3,157 per grams on 19 September after the dollar weakened further due to the ongoing trade dispute, as industrial demand was steady.
  • Gold prices in Mumbai jumped to Rs.3,176 per gram on 21 September and remained constant as the week ended on 22 September.
  • Gold recorded a rise of Rs.28 per gram over the course of the week due to positive trends and higher demand.

September 2018 - Week 4 (23 - 30):

Parameters Gold price (per gram of 24 karat gold)
September 23 Rate Rs.3,176 per gram
September 30 Rate Rs.3,140 per gram
Overall Weekly Performance Decline
  • In spite of a robust retail market for gold, there was a sharp drop in gold prices in Mumbai over the course of the last week.
  • The metal opened trading at Rs.3,176 per gram, remaining unchanged from the previous week due to steady demand.
  • The conflicting cues from overseas as well as the rising dollar led to a drop in interest in gold locally, as prices fell to Rs.3,166 per gram on 25 September.
  • Prices rose to Rs.3,178 per gram on 27 September ahead of the Federal Reserve meeting as industrial demand was also on the increase.
  • The struggling yuan and greater reliance on the dollar due to the trade crisis saw investors stay away from buying gold, as bullion fell to Rs.3,140 per gram on 29 September.
  • There was no change in price as the month ended, with gold falling to Rs.3,140 per gram on 30 September to record a Rs.36 drop in price.

Trend of Gold Rate in Mumbai for August 2018 (rates per gram of 24 karat gold)

Comparison for 24 K Gold Rates for Mumbai July 2018
Graph for Gold Rate (24K) in Mumbai July 2018
Parameters Gold price (24 karat)
August 1 Rate Rs.3,095 per gram
August 31 Rate Rs.3,104 per gram
Highest Rate in August Rs.3,104 per gram from 28-31 August
Lowest Rate in August Rs.2,031 per gram on 17 August
Overall Monthly Performance Incline
Percentage Change 0.29%

August 2018 - Week 1 (1 - 5):

Parameters Gold price (per gram of 24 karat gold)
August 1 Rate Rs.3,095 per gram
August 5 Rate Rs.3,053 per gram
Overall Weekly Performance Decline
  • A steep decline in gold rates was observed in the financial capital of the country, as market volatility severely impacted gold prices.
  • Strong demand for the precious metal saw gold rates in Mumbai open at Rs.3,095 per gram in spite of a rising dollar capping gains.
  • The positive economic assessment of the U.S. market led to equities rising, as demand for gold fell sharply.
  • Prices dropped to Rs.3,070 per gram on 3 August as the rupee plunged against the dollar, further affecting gold orders and imports.
  • Rates continued to drop as the week ended, with the yellow metal trading at Rs.3,053 per gram on 5 August.

August 2018 - Week 2 (6 - 12):

Parameters Gold price (per gram of 24 karat gold)
August 6 Rate Rs.3,058 per gram
August 12 Rate Rs.3,043 per gram
Overall Weekly Performance Decline
  • Gold prices in Mumbai increased in demand during the second week of August as the dollar stabilised during this time.
  • The gold rate in Mumbai stood at Rs.3,058 per gram on 6 August, as the dollar weakened during this period.
  • The dollar then increased to a 13 month high on 10 August which had an effect on the gold rates in Mumbai.
  • Gold rate in Mumbai then shot up to Rs.3,043 per gram on 12 August. During this time, European banks were exposed to Turkey, which in turn led to the strengthening of the dollar.
  • The week ended with an incline trend in Gold rates in Mumbai. At the end of the week ending 12 August, gold rate in Mumbai stood at Rs.3,043 per gram.

August 2018 - Week 3 (13 - 19):

Parameters Gold price (per gram of 24 karat gold)
August 13 Rate Rs.3,043 per gram
August 19 Rate Rs.3,031 per gram
Overall Weekly Performance Decline
  • The gold price in Mumbai in Week 3 of August was subdued as the value of dollar hit a near 13-month high.
  • On 13 August, the gold price in Mumbai was recorded at Rs.3,043 per gram. The value of the dollar was on the rise during this period.
  • The gold price then stabilised for a few days after which it declined marginally towards the end of the week.
  • At the end of Week 3, the gold rate in Mumbai declined in comparison to the former part of the week. The price of the metal on 19 August stood at Rs.3,031 per gram. This was during the same period when US - China trade talks were in place.
  • Week 3 ended with the metal priced at Rs.3,031 per gram, and showed a declining trend for the week ending 19 August.

August 2018 - Week 4 (20 - 26):

Parameters Gold price (per gram of 24 karat gold)
August 20 Rate Rs.3,031 per gram
August 26 Rate Rs.3,052 per gram
Overall Weekly Performance Incline
  • Trading opened for the week with gold rate in Mumbai holding at Rs.3,031 per gram with steady local demand amid positive global cues.
  • Prices remained untouched at Rs.3,031 per gram the next day before surging to Rs.3,045 per gram on the 22nd following a decline in the US dollar index overseas.
  • Strong domestic demand coupled with favourable market trends led to gold in Mumbai continuing to trade at Rs.3,045 per gram until the 24th.
  • Gold price in Mumbai surged further to Rs.3,052 per gram on the 25th with global investors capitalising on the weakening US dollar and equities.
  • The week ended with gold priced at Rs.3,052 per gram on the 26th with steady demand from investors amid favourable market cues.

August 2018 Week 5 (27 - 31):

Parameters Gold price (per gram of 24 karat gold)
August 27 Rate Rs.3,052 per gram
August 31 Rate Rs.3,104 per gram
Overall Weekly Performance Incline
  • Mumbai, the financial capital of India, saw gold prices follow trends seen across other Indian cities.
  • Gold traded at Rs.3,052 per gram on 27 August when trading opened, with steady industrial demand maintaining prices.
  • The drop in interest in the dollar also boosted bullion demand as overseas investors, cautious of a sluggish equity market, moved investments to gold.
  • Prices jumped to Rs.3,104 per gram on 28 August as unsteady local equity markets sent traders towards gold purchases.
  • There was no change in price for the rest of the week, as industrial demand balanced prices.
  • Gold prices rose by Rs.52 per gram over the course of the week on strong demand and favourable market trends.

Trend of Gold Rate in Mumbai for July 2018 (rates per gram of 24 karat gold)

Parameters Gold price (24 karat)
July 1 Rate Rs.3,142 per gram
July 31 Rate Rs.3,095 per gram
Highest Rate in July Rs.3,148 per gram from 4 - 10 July
Lowest Rate in July Rs.3,082 per gram from 18 - 23 July
Overall Monthly Performance Decline
Percentage Change -1.49%
Comparison for 24 K Gold Rates for Mumbai June 2018
Graph for Gold Rate (24K) in Mumbai June 2018

July 2018 - Week 1 (1 - 7):

Parameters Gold price (per gram of 24 karat gold)
July 1 Rate Rs.3,142 per gram
July 7 Rate Rs.3,148 per gram
Overall Weekly Performance Incline
  • Gold rate in Mumbai didn’t record too many changes this month, apart from the slight increases caused by a weakened US dollar.
  • When the week began, gold was priced at Rs.3,142 per gram before continuing at this rate on the 2nd as well.
  • On the 3rd, prices dropped to Rs.3,140 per gram as demand for the metal dropped after the US dollar recorded some gains ahead of the latest Fed meeting.
  • With the dollar continuing to remain on a high, gold still traded at Rs.3,140 per gram on the 4th, before changing the next day.
  • When the market opened for the 5th, gold was priced at Rs.3,148 per gram - after demand surged as the dollar declined, owing to the intensifying trade war between the US and other major countries of the world.
  • As the dollar continued to remain weak, gold traded at Rs.3,148 per gram for the remaining few days of the week.

July 2018 - Week 2 (8 - 14):

Parameters Gold price (per gram of 24 karat gold)
July 8 Rate Rs.3,148 per gram
July 14 Rate Rs.3,129 per gram
Overall Weekly Performance Decline
  • Trading began for the week with gold priced at Rs.3,148 per gram on the 8th with strong domestic demand from industries, jewellers and retailers amid the strong trend overseas.
  • With the dollar hovering close to near three-and-half week lows and industries ramping up purchases to meet local demand, gold rates in Mumbai remained untouched at Rs.3,148 per gram until the 11th.
  • However, with the greenback recovering from its previous rally of losses, prices dropped to Rs.3,146 per gram on the 12th.
  • The 13th saw rates dropping further to Rs.3,129 per gram as investors and market participants cut down purchases amid the rising US dollar and well-performing equity markets.
  • The week ended with todays gold rate in Mumbai remaining untouched at Rs.3,129 per gram with subdued but steady demand from local jewellers and retailers amid the weak overseas trends.

July 2018 - Week 3 (15 - 22):

Parameters Gold price (per gram of 24 karat gold)
July 15 Rate Rs.3,129 per gram
July 22 Rate Rs.3,082 per gram
Overall Weekly Performance Decline
  • Gold was priced at Rs.3,129 per gram in Mumbai when trading for the third week of July began.
  • On the 16th, gold continued to trade at Rs.3,129 per gram before continuing at this rate for the two subsequent days as the turmoil seen elsewhere didn’t have too much impact in the city.
  • Gold rate in Mumbai went down to Rs.3,082 per gram on the 19th as a resurgent dollar pushed demand down.
  • For the next few day, i.e., from the 20th to the 22nd of July, gold continued to trade at Rs.3,082 per gram, as demand from the local circles remained low while they rose in other cities.

July 2018 Week 4 (22 - 31):

Parameters Gold price (per gram of 24 karat gold)
July 22 Rate Rs.3,082 per gram
July 31 Rate Rs.3,095 per gram
Overall Weekly Performance Incline
  • Gold opened the week priced at Rs.3,082 per gram in the financial capital as weak overseas trends resulted in reduced offtake.
  • Minor spikes in the gold rate in Mumbai were observed as the dollar’s value fell after a period of steady growth, as tensions with Iran also impacted the currency.
  • Prices rose to Rs.3,095 per gram on 25 July prior to the trade talks between the U.S. and European Union, as the dollar continued to slip.
  • Fresh trade tariffs against China were announced towards the end of the month, which put further pressure on the dollar as gold prices remained unchanged.
  • The month ended with gold priced at Rs.3,095 per gram on 31 July, though overall demand was still low.

Trend of Gold Rate in Mumbai for June 2018 (rates per gram of 24 karat gold)

Parameters Gold price (24 karat)
June 1 Rate Rs.3,208 per gram
June 30 Rate Rs.3,142 per gram
Highest Rate in June Rs.3,208 per gram from 1 to 4 June
Lowest Rate in June Rs.3,142 per gram on 29 and 30 June
Overall Monthly Performance Decline
Percentage Change -1.87%
Comparison for 24 K Gold Rates for Mumbai May 2018
Graph for Gold Rate (24K) in Mumbai May 2018

June 2018 - Week 1 (1st - 10th)

  • In Mumbai, gold was priced at Rs.3,208 per gram when exchanges opened for trade on the 1st of June.
  • Rates continued to hold steady over the next three days - till the 4th - at Rs.3,208 per gram as local demand was largely consistent.
  • On the 5th, gold price in Mumbai dropped to Rs.3,171 per gram - a massive Rs.37 decline after the US markets and its dollar improved significantly buoyed by the latest jobs data.
  • Rates dropped further over the next two days i.e., the 6th and 7th to Rs.3,167 per gram as a possible Fed rate hike was being anticipated.
  • However, the latest G7 brought with it a range of disagreements between the US and the other member nations, which pushed safe haven demand up.
  • As markets crashed, gold traded at Rs.3,177 per gram on the 8th. The next two days i.e., the 9th and the 10th also saw the yellow metal trade at Rs.3,177 per gram, thanks to a stable local demand.

June 2018- Week 2 (11th-17th)

  • Gold traded at Rs.3,177 per gram on 11 June as local demand was stable in spite of fluctuations across global markets.
  • Gold price in Mumbai rose to Rs.3,186 per gram on 12 June as fears of a trade war between the United States and China were renewed over the weekend.
  • The success of the summit between Donald Trump and Kim Jong-un led to investor confidence in U.S. markets, while interest in bullion declined.
  • Contrary to trends seen in other cities, gold rate in Mumbai rose to Rs.3,200 per gram on 14 June in spite an impending interest rate hike leading to declining interest in gold across overseas markets.
  • Prices remained steady for the rest of the week, as local interest in gold was steady due to high offtake by jewellers.
  • Investors pulled out of long term gold investments overseas which led to gold rates falling, but local prices were unaffected.
  • Gold ended the week priced at Rs.3,200 per gram on 17 June on consistent local demand.

June 2018 - Week 3 (18th - 24th)

  • The week began with gold trading at Rs.3,200 per gram on the 18th with steady domestic demand from local jewellers, industries and retailers amid favourable market cues.
  • However, with the safe-haven demand declining amid the strengthening US dollar, prices dropped to Rs.3,175 per gram on the 19th.
  • Rates remained untouched at Rs.3,175 per gram until the 22nd with subdued but steady investor demand amid the poor trend overseas.
  • The 23rd saw gold rates in Mumbai plummeting to Rs.3,148 per gram as the bullion market tumbled after the US dollar index recorded its highest level in eleven months at the global level.
  • Poor trends overseas coupled with subdued investor demand led to gold prices closing at Rs.3,148 per gram on the 24th.

June 2018 - Week 4 (25th - 30th)

  • Gold was priced at Rs.3,148 per gram when trading started for the final week of June.
  • This was a significant drop of Rs.27 per gram compared to the 24th of June, when the metal was trading at Rs.3,175 per gram.
  • The drop was due to a rising US dollar which caused gold investors to back away from purchasing the metal.
  • From the 26th onwards, gold rates in Mumbai were largely stable as demand from the local market was steady.
  • The yellow metal traded at Rs.3,148 per gram till the 29th of June as demand was stable.
  • On the final day of the week, however, gold rates dropped to Rs.3,142 per gram as local demand plummeted.

Trend of Gold Rate in Mumbai for May 2018 (rates per gram for 24 karat gold)

Parameters Gold price (24 karat)
May 1 Rate Rs.3,219 per gram
May 31 Rate Rs.3,208 per gram
Highest Rate in May Rs.3,228 per gram from 8 - 16 and 25 - 30 May
Lowest Rate in May Rs.3,205 per gram from 17 to 24 May
Overall Monthly Performance Decline
Percentage Change -0.34%
Comparison for 24 K Gold Rates for Mumbai April 2018
Graph for Gold Rate (24K) in Mumbai April 2018

May 2018 - Week 1 (1st - 6th)

  • The bullion trade in Mumbai witnessed gold rates remaining untouched before dropping slightly amid the strengthening dollar towards the end of the week.
  • The week commenced with gold prices holding firm at Rs.3,219 per gram on the 1st with steady demand from local jewellers, retailers and industries amid positive global cues.
  • Prices remained unaltered at Rs.3,219 per gram on the 3rd with the bullion market capitalising on the cautious market ahead of the US central bank meeting.
  • When the week ended, gold rate in Mumbai were recorded holding at Rs.3,213 per gram on the 6th as demand marginally dropped amid the recovering US dollar.

May 2018 - Week 2 (7th - 13th)

  • In Mumbai, gold was priced at Rs.3,228 per gram when trading commenced for the second week of May.
  • This week didn’t record any real changes in terms of pricing as demand from the local market was largely the same.
  • Gold rates in Mumbai remained consistent in the city despite the international market as well as the other major cities in India recorded significant surges in rates as the week progressed.
  • From the 8th to the 13th, gold prices remained at Rs.3,228 per gram - thanks as the market dynamic remained unchanged.
  • When the week drew to a close, gold prices were still holding at Rs.3,228 per gram.

May 2018 - Week 3 (14th - 20th)

  • Trading began in Mumbai with gold rates holding firm at Rs.3,228 per gram on the 14th with steady demand from domestic jewellers and retailers amid strong global cues.
  • Gold continued trading at Rs.3,228 per gram until the 16th with the domestic bullion market rising on the back of the losing US dollar rates.
  • The 17th, however, saw the yellow metal prices plunging to Rs.3,205 per gram as the greenback regained lost ground after the dollar index gained against a basket of other major emerging currencies at the global level.
  • Prices remained low for much of the week with the rising dollar pushing demand lower for the precious metal.
  • The week came to an end with gold prices in Mumbai holding steady at Rs.3,205 per gram on the 20th with subdued but consistent demand from local markets despite the weak trend overseas.

May 2018 - Week 4 (21st - 27th)

  • Gold rates in Mumbai recorded changes on two occasions this week.
  • Unlike other cities, the economic capital records very few changes in gold rates as the supply-demand dynamic is slightly different.
  • When the fourth week of May began in the city, gold was priced at Rs.3,205 per gram.
  • Due to a steady local demand, gold continued to trade at Rs.3,205 per gram for the next four days, i.e, till the 24th of the month.
  • On the 25th, gold rates in Mumbai rose to Rs.3,228 per gram as cues from the global market also rose after the Fed meeting announced no changes in interest rates.
  • There was sustained for the remaining few days of the week, and gold continued to trade at Rs.3,228 per gram as a result.

May 2018 - Week 5 (28th - 31st)

  • The last week commenced with gold prices in Mumbai holding strong at Rs.3,228 per gram on the 28th with steady demand from domestic jewellers, retailers and industries.
  • Positive trends overseas coupled with consistent demand led to gold being priced at Rs.3,228 per gram until the 30th.
  • However, with the recovering dollar weighing on the international markets, rates eased to Rs.3,208 per gram on the last day.
  • Gold rates in Mumbai recorded a decline of 0.34% on account of the poor trends overseas that pushed local demand lower during the month.

Trend of Gold Rate in Mumbai for April 2018 (rates per gram for 24 karat gold)

Parameters Gold price (24 karat)
April 1 Rate Rs.3,148 per gram
April 30 Rate Rs.3,219 per gram
Highest Rate in April Rs.3,232 per gram on 26 and 27 April
Lowest Rate in April Rs.3,148 per gram from 1 April to 14 April
Overall Monthly Performance Incline
Percentage Change 2.25%
Comparison for 24 K Gold Rates for Mumbai March 2018
Graph for Gold Rate (24K) in Mumbai March 2018

April 2018- Week 1 (1st-7th)

  • In a departure from trends seen across other major Indian cities, gold prices in the country’s financial capital were stable throughout the first week.
  • Gold rate in Mumbai opened the month trading at Rs.3,148 per gram and saw no change in price as retail demand stayed stagnant.
  • The appointment of the new Secretary of State and the escalation of trade war rhetoric with China saw gold prices rise across the world, but did not impact demand in the city.
  • Industrial demand fell towards the middle of the week, but a rise in orders by jewellers made up for this loss and kept prices stable.
  • Gold price in Mumbai traded at Rs.3,148 per gram as the week ended on 7 April as consistent demand resulted in prices staying constant.

April 2018- Week 2 (8th -15th)

  • Gold opened at Rs.3,148 per gram when the second week of April began in Mumbai.
  • Demand seemed to be steady for most part of this week, and gold traded at Rs.3,148 per gram till the 12th as a result.
  • After news about a possible joint attack on Syria by the US, France, and England, gold rate in Mumbai surged to Rs.3,184 per gram on the 13th of April.
  • As demand was steady for the remaining few days amidst a volatile market, gold traded at Rs.3,184 per gram.
  • When the week ended, the metal was still seen trading at Rs.3,184 per gram.

April 2018 - Week 3 (16th - 22nd)

  • In Mumbai, the week opened with gold rates holding at Rs.3,184 per gram on the 16th with steady domestic demand amid positive global cues.
  • Demand remained consistent amid the weakened US dollar and losing equity markets. This led to gold price in Mumbai remaining unchanged at Rs.3,184 per gram until the 18th.
  • The 19th, however, witnessed gold rates in Mumbai surging to its highest level during the week at Rs.3,211 per gram with the the US dollar losing significant ground with inflationary concerns dominating on the market.
  • The next couple of days witnessed the precious metal trading firm at Rs.3,211 per gram amid firm overseas trends.
  • The week concluded with the yellow metal closing at Rs.3,211 per gram on the 22nd with steady demand at the domestic level amid the ongoing wedding season.

April 2018 - Week 4 (23rd - 30th):

  • Gold rate in Mumbai didn’t see too many chances over the course of this week.
  • When the fourth week of April began, gold was priced at Rs.3,211 per gram. This rate remained unchanged till the 25th due to local demand holding steady.
  • On the 25th, gold price in Mumbai went up to Rs.3,232 per gram - the month’s highest rate as domestic demand surged while international demand was also on the rise.
  • Gold continued to trade at Rs.3,232 per gram on the 27th before dropping to Rs.3,219 per gram as a drop in demand weighed down on the sakes.
  • During the 29th and the 30th, gold traded at Rs.3,219 per gram for the most part as demand remained low but steady.

Trend of Gold Rate in Mumbai for March 2018 (rates per gram for 24 karat gold)

Parameters Gold price (24 karat)
Gold Rate on 1st March 2018 Rs.3,147 per gram
Gold Rate on 31st March 2018 Rs.3,148 per gram
Highest Rate in March Rs.3,148 per gram on 8, 9 and from 24 to 31 March
Lowest Rate in March Rs.3,123 per gram from 17 to 23 March
Overall Monthly Performance Incline
Percentage Change 0.03%
Comparison for 24 K Gold Rates for Mumbai February 2018
Graph for Gold Rate (24K) in Mumbai February 2018

March 2018 - Week 1 (1 - 5):

  • The financial capital of the country saw gold open the month priced at Rs.3,147 per gram as there was no change in demand.
  • In contrast to the trends seen across the country, there was no sharp increase in demand for gold in spite of turbulent equity markets and a plunging U.S. Dollar.
  • Gold traded at a consistent price for most of the week, as local demand was muted and not influenced by trends seen across the rest of the market.
  • Gold price in Mumbai dropped to Rs.3,146 per gram as the week ended on 5 March.

March 2018 - Week 2 (5-11):

  • Gold rates in Mumbai opened at Rs.3,146 per gram on the 5th of March.
  • The metal continued to traded at the same rate for the next two days as local demand remained largely unchanged despite changes in the global market.
  • On the 8th, gold rates in Mumbai went up slightly to Rs.3,148 per gram before continuing on at this rate for the next day as well.
  • However, as local demand dropped, gold rates fell to Rs.3,134 per gram on the 10th of March.
  • When the week closed, gold rates were still recorded at Rs.3,134 per gram.

March 2018 - Week 3 (12 - 18):

  • The week opened in Mumbai with the yellow metal prices holding steady at Rs.3,134 per gram on the 12th amid the rising US dollar and equities.
  • Thanks to strong demand from local industries, jewellers and retailers, gold prices remained untouched at Rs.3,134 per gram on the 13th despite the steady US dollar.
  • The dollar, however, lost its ground after a rocky road with President Trump resulted in Rex Tillerson, the US Secretary of State being fired by the White House.
  • Gold rates in Mumbai were recorded holding steady at Rs.3,134 per gram until the 16th amid positive overseas trends.
  • The 17th saw gold prices plunging to Rs.3,123 per gram with the bullion being pressured by a strong US dollar and expectations of an interest rate hike by the Federal Reserve next week.
  • Trading concluded with the precious metal holding steady at Rs.3,123 per gram on the 18th with steady domestic demand amid the firm trends overseas.

March 2018 - Week 4 (19 - 25):

  • Demand for gold in Mumbai was in contrast to other Indian cities, with prices fluctuating significantly over the course of the week.
  • The yellow metal opened the week trading at Rs.3,123 per gram on 19 March as demand was stagnant due to stable equity markets.
  • In spite of a rise in demand for the metal across global markets and other regional markets, there was no change in the price of gold for a few days.
  • Local demand was also muted in spite of favourable market conditions, with industrial demand also poor in the financial capital of the country.
  • There was a sharp jump in the price of gold on 23 March, with gold trading at Rs.3,148 per gram after a late rally by the metal amidst declining interest in equities.
  • Gold price in Mumbai remained constant for the rest of the week as steady retail demand kept prices from falling too steeply.
  • Though there was not much movement in the price of gold in Mumbai, there was a significant rise in the price of the metal.

March 2018 - Week 5 (26 - 31):

  • The bullion trade in Mumbai witnessed gold prices remaining unaltered the entire week following strong domestic demand despite the uneven global trends.
  • The week began with the yellow metal prices holding steady at Rs.3,148 per gram on the 26th with the bullion maintaining its five-week high amid the US-China trade war concerns.
  • Strong global cues coupled with steady domestic demand for the metal led to gold rates in Mumbai remaining untouched at Rs.3,148 per gram until the 30th.
  • The month concluded with the precious metal trading firm at Rs.3,148 per gram on account of steady demand from local retailers, jewellers and industries. Mumbai registered an incline of 0.03% during the course of the month.

Trend of Gold Rate in Mumbai for February 2018 (rates per gram for 24 karat gold)

Parameters Gold price (24 karat)
Gold rate on 1st February 2018 Rs.3,128 per gram
Gold rate on 28th February 2018 Rs.3,147 per gram
Highest Rate in February Rs.3,148 per gram on 3, 4, 5, 7 and from 17 to 22 February
Lowest Rate in February Rs.3,091 per gram from 9 to 11 February
Overall Monthly Performance Incline
Percentage Change 0.60%
Comparison for 24 K Gold Rates for Mumbai January 2018
Graph for Gold Rate (24K) in Mumbai January 2018

February 2018 - Week 1 (1st - 4th)

  • In Mumbai, gold was recorded trading at Rs.3,128 per gram when the month began.
  • Despite the strengthening US dollar and well performing equities, demand for metal remained steady in the domestic market. This led to gold rate in Mumbai holding steady at Rs.3,128 per gram the following day.
  • The 3rd, however, saw gold price in Mumbai surging to Rs.3,148 per gram with domestic demand picking up due to increased buying by local jewellers, industries and retailers.
  • The week ended with the precious metal priced at Rs.3,148 per gram on the 4th with steady local demand for the metal.

February 2018 - Week 2 (5th -11th)

  • In Mumbai, gold prices seemed quite unaffected by the happenings around the world. This was because domestic demand was on a rather steadier side during the initial few days.
  • On the 5th of February, gold was seen trading at Rs.3,148 per gram, which then fell to Rs.3,125 on the second day of this week. Analysts said that “today’s gold rate” fell in Mumbai due to a strengthening dollar.
  • The 6th, however, saw gold price in Mumbai increase to Rs.3,148 per gram as demand from the domestic market trumped the USD’s performance.
  • The remaining few days saw gold rates fall as local demand weakened amid poor sales from various investing quarters of the city.
  • Gold rate in Mumbai dropped to Rs.3,125 per gram on the 8th of February, and fell again by Rs.34 the next day to hit Rs.3,091 per gram.
  • Over the next two days, gold traded at Rs.3,091 per gram as demand remained weak but steady.

February 2018 - Week 3 (12th - 18th)

  • Trading opened in Mumbai with the yellow metal priced at Rs.3,103 per gram on the 12th with markets eyeing on the US price data for signs of US interest rate hikes.
  • With the dollar losing significant ground against other emerging currencies ahead of the US inflation data, the greenback-dependant gold prices declined. This led to an increased demand for the metal during the week.
  • Steady demand coupled with firm trends overseas led to gold rate in Mumbai holding steady at Rs.3,103 per gram until the 15th.
  • The 16th, however, saw the bullion prices surging to Rs.3,129 per gram with the dollar hitting two-week lows amid high debt level and tax cuts concerns.
  • Gold rate in Mumbai surged to Rs.3,148 per gram on the 17th with the poorly performing dollar and equities pushing demand higher for the precious metal in the world markets.
  • Steady domestic demand coupled with strong global cues resulted in the bullion trading firm at Rs.3,148 per gram for the rest of the week.

February 2018 - Week 4 (19th - 25th)

  • Gold demand in Mumbai remained largely muted for majority of this week and there were little changes to be witnessed over these seven days.
  • On the 19th, gold was priced at Rs.3,148 per gram. The Mumbai market wasn’t hindered by the global bullion scenario, which was quite evident with the sales figures.
  • For the next four days, i.e., till the 22nd of February, the yellow metal traded at Rs.3,148 per gram.
  • As markets eagerly awaited the minutes from the latest Fed Reserve meeting, gold rate in Mumbai dropped slightly to Rs.3,145 per gram on the 23rd.
  • With other markets remaining steady, gold rates in Mumbai saw little reason to change as well. For the remainder of the week i.e., the 24th and the 25th, gold price in Mumbai continued at Rs.3,145 per gram, thanks to stable demand.

February 2018 - Week 5 (26th - 28th)

  • Trading began in Mumbai with the bullion prices holding steady at Rs.3,145 per gram on the 26th following steady domestic demand from the previous week.
  • The 27th, however, saw price in Mumbai rebounding to Rs.3,147 per gram on with markets cautious ahead of Federal Reserve Chairman Jerome Powell’s first testimony for clues on future monetary hikes.
  • The month ended with the precious metal trading at Rs.3,147 per gram on the 28th owing to steady demand from local jeweller, retailers and industries amid the firm trends overseas.
  • Mumbai recorded an increase of 0.60% in gold prices during the course of the month.

Trend of Gold Rate in Mumbai for January 2018 (rates per gram for 24 karat gold)

Parameters Gold price (24 karat)
Gold Rate on 1st January 2018 Rs.3,093 per gram
Gold Rate on 31st January 2018 Rs.3,121 per gram
Highest Rate in January Rs.3,162 per gram on 17 and 18 January
Lowest Rate in January Rs.3,080 per gram from 4 to 8 January
Overall Monthly Performance Incline
Percentage Change 0.90%
Comparison for 24 K Gold Rates for Mumbai December 2017
Graph for Gold Rate (24K) in Mumbai December 2017

January 2018 - Week 1 (1st - 7th)

  • In Mumbai, gold rates seemed to decline as the week progressed.
  • On the 1st of January, gold was priced at Rs.3,093 per gram.
  • Due to a steady local demand, gold rate in Mumbai continued at Rs.3,093 per gram for the next two days as well.
  • However, the 4th saw gold price in Mumbai reach Rs.3,080 per gram as local demand was affected by overseas trend slightly. Reports claimed that “today’s gold rate” declined due to decreased purchases from investors in the city.
  • For the remaining three days of the week, gold rates continued at Rs.3,080 per gram.

January 2018 - Week 2 (8th - 14th)

  • In Mumbai, gold was priced at Rs.3,080 per gram on the 8th when trading commenced for the second week.
  • With the US dollar losing against the Euro, demand for gold surged in the European market, this led to prices surging to Rs.3,087 per gram and Rs.3,094 per gram on the 9th and the 10th respectively.
  • The poorly performing equities coupled with the weakened dollar led to gold rate in Mumbai rising further to Rs.3,111 per gram on the 11th.
  • Gold price in Mumbai were recorded at Rs.3,114 per gram on the 12th which surged to Rs.3,147 per gram on the 13th owing to an increase in demand from industries, jewellers and retailers.
  • Thanks to the strong trend overseas that pushed local buying in the domestic markets, gold rates remained untouched at Rs.3,147 per gram for the remainder of the week.

January 2018 - Week 3 (15th - 21st)

  • Gold trading in Mumbai hit a peak in the beginning before consolidating as the week progressed.
  • On the 15th of January, gold was priced at Rs.3,147 per gram. Gold rate in Mumbai rose to Rs.3,162 per gram on the 16th of the month as demand rose in the local market.
  • Prices this week was largely on the steadier side in Mumbai despite some significant fluctuations in other major cities in the country.
  • Gold continued to trade at Rs.3,162 per gram on the 17th and the 18th of January as well as domestic demand was stable.
  • However, there was a considerable drop to be witnessed on the 19th when the yellow metal traded at Rs.3,148 per gram.

January 2018 - Week 4 (22nd - 28th)

  • In Mumbai, gold was valued at a respectable figure of Rs.3,100 per gram when the week began.
  • As the local market took time to react to outside stimulus, gold price in Mumbai continued at Rs.3,100 per gram on the 23rd as well.
  • After slowdown in the US dollar became apparent, gold rate in Mumbai increased slightly to Rs.3,112 per gram on the 24th of the month.
  • Courtesy of strong global cues, demand from local jewellers also increased. This pushed gold rate in Mumbai to increase to Rs.3,144 per gram on the 25th of January.
  • Gold recorded its highest rates since August 2016 globally but in the domestic market, demand seemed to fall flat. Due to this gold continued to trade at RS.3,144 per gram on the 26th of the month.
  • The next two days, i.e., the 27th and the 28th, gold continued at Rs.3,144 per gram as domestic sales was enough to offset the national trend.

January 2018 - Week 5 (29th - 31st)

  • Trading opened in Mumbai for the week with the precious metal priced at Rs.3,144 per gram on the 29th after the US dollar began to pull ahead from the previous week’s losses amid strengthening equities.
  • Gold price in Mumbai remained untouched at Rs.3,144 per gram on the 30th owing to steady domestic demand from local jewellers, industries and retailers.
  • The demand, however, couldn’t keep up with the rising US dollar and rising US treasury yields. This resulted in gold being priced at Rs.3,121 per gram when the week concluded on the 31st.
  • Strong global cues coupled with steady domestic demand led to gold rate in Mumbai recording an incline of 0.90% during the course of the month.
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
Bank Gold Schemes

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