Gold Rate Today in Mumbai
Last Updated : July 13, 2021, 2:56 p.m.
Mumbai is known as the “City of Ambitions,” and individuals from different places come to Mumbai to achieve their dreams. On the other side, Mumbai is also famous as India’s financial capital, and the majority of individuals who live in Mumbai invest in gold or other forms of investment. However, to invest in gold , you need to know the today Gold Rate in Mumbai. The gold rate today in Mumbai is INR 5045 per gram for 24 Karat gold, and INR 4625 per gram for 22 Karat gold. All further information is available in the table below.
24 Karat and 22 Karat Gold Price Today Mumbai
| Karat | Gram | Gold Rate Today |
|---|---|---|
| 22 Karat | 1 Gram | ₹4625 |
| 22 Karat | 10 Grams | ₹46250 |
| 24 Karat | 1 Gram | ₹5045 |
| 24 Karat | 10 Gram | ₹50450 |
Factors that can Affect Gold Prices in Mumbai
There are a number of factors that can affect Gold Prices in Mumbai. The Gold Prices can be influenced either domestically or internationally. Gold prices tend to change soon after there is a sudden change in the international as well as the domestic market. Moreover, some of the common factors that affect Gold prices in Mumbai are as follows:
Inflation
The gold price is affected by inflation in the country, and it may rise or fall as a result. On the other hand, if there is international inflation, the gold price will fluctuate and eventually rise.
RBI’s Gold Reserve
Everyone understands that currency notes are issued against the gold reserve, therefore if the government raises the gold reserve, the cash inflow into the market rises, affecting the gold rate . As a result, the government’s gold holdings could play a role in gold price fluctuations.
Market Demand
The price of gold in Mumbai also rises and falls in response to market demand. The price of gold rises during the wedding season because demand for gold jewellery is high, and falls during the off-seasons.
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Should you Invest in Gold or Stocks in Mumbai
Mumbai is one of the largest cities in the country where people invest their money in the stock market. But whether to invest your money in Gold or in the stock market still remains a question. There are certain factors that you should consider before investing your money. Whether investing in gold or in the stock market, people tend to invest their money when the prices are low and hold them till the prices reach their expected levels. While investing in stocks is considered risky and people might suffer a loss, traditional people still believe in physical investments as it is considered a much safer form of investment. However, it is important to understand the basics of investing in order to be able to invest in the right asset that would meet your investment goals.
Frequently Asked Questions
1. What is the Gold rate today in Mumbai?
The Gold rate today in Mumbai is INR 5045 per gram for 24 carat and INR 4625 per gram for 22 carat.
2. What factors decide the Gold rate in Mumbai?
Inflation, RBI’s gold reserve and the market demand are the major three factors that affect the Gold rate in Mumbai.
3. What is the Gold rate today in Mumbai for 1gm?
The gold rate today in Mumbai is INR 5045 for 1 gram of 24 carat of gold and INR 4625 for 1 gram of 22 carat of gold.
4. What is 24 carat and 22 carat gold?
The purity of gold is measured in Carats, with 24 carat being the purest as it is 99.9% pure. On the other hand, 22 carat gold is 91.6% pure.
6. Which gold is good 18K or 22K?
Gold’s purity is measured in carats, which also determines the durability of the metal. 18k Gold is slightly less in purity but more durable than 22k gold.
7. What is Hallmark Gold?
The certified gold that goes through a process of quality check and assurance known as hallmarking is called Hallmark Gold.
8. What is the Gold rate today in Mumbai for 10gm?
The gold rate in Mumbai today for 10 gm is INR 50450 for 24k gold and INR 46250 for 22k gold respectively.
9. How to verify Gold purity?
Gold purity is generally measured in carats with 24 carats being the purest form of gold. The 24 carat gold is 99.9% pure followed by 22 carat being 91.6% pure and 18 carat being 75% pure.
10. Is gold a better investment than stocks?
If you have a low risk appetite then surely, gold is a better investment than stocks. However, if you have a high risk capacity and do not want to purchase gold for consumption, then investing in stocks might give you a better return on your investment.
11. What is the 916 gold rate today in Mumbai?
The 916 gold rate today in Mumbai is INR 4625 for 1 gram and INR 46250 for 10 grams respectively.
Note – Gold prices are sourced from various news journals such as Economic Times, Live Mint, Good Returns, Fresherslive, etc.