Gold Rate Today in Mumbai

Live prices via TradingView · Page reviewed

Today's gold rate in Mumbai appears live in the table for 24K, 22K and 18K gold per gram, per 10 grams and per 100 grams, based on the international price in rupees plus 6% import duty. Mumbai jewellers add 3% GST and a making charge to the final bill.

Live gold rate in Mumbai (INR)

Weight & purityPrice (INR)
24K gold · 1 gramlive
24K gold · 10 gramslive
24K gold · 100 gramslive
22K gold · 1 gramlive
22K gold · 10 gramslive
22K gold · 100 gramslive
18K gold · 1 gramlive
18K gold · 10 gramslive
18K gold · 100 gramslive

Indicative rate = live international gold price in rupees (TradingView FX_IDC:XAUINRG) plus India's 6% import duty, before 3% GST and making charges. A jeweller's board rate can sit slightly above or below it. How we calculate

Mumbai as India's bullion hub

Much of India's gold trade runs through Mumbai. Imported bullion arrives through the city, the main bullion dealers are based here, and the commodity exchange MCX is headquartered in Mumbai. A Mumbai-based trade body publishes benchmark gold rates during the day, which many dealers and lenders reference. For this reason the Mumbai rate is often treated as India's reference price, and other cities' rates are described relative to it.

The price is still built the same way everywhere: international price × USD/INR + 6% customs duty, with a premium or discount that reflects how much physical metal is in demand.

Zaveri Bazaar and the rest of the city

Zaveri Bazaar in Kalbadevi, near Crawford Market and Mumba Devi temple, is the country's largest jewellery and bullion market: hundreds of shops, wholesale dealers, refiners, assayers and workshops packed into a few lanes. Prices for plain gold are competitive, and it is also where many smaller jewellers in the city buy their stock. Large chain showrooms line Dadar, Borivali, Ghatkopar, Andheri, Vashi and Thane.

Mumbai is also India's jewellery export centre. SEEPZ in Andheri East houses many gem and jewellery manufacturing units, and the Bharat Diamond Bourse in Bandra Kurla Complex is a major diamond trading floor. That is one reason 18K diamond jewellery is easy to find and competitively priced here.

Exchanging old gold: a worked example

Many Mumbai families upgrade old jewellery rather than buy outright. Suppose (illustrative figures) the 24K rate is ₹13,300 per gram and the 22K rate is ₹12,180 per gram. You bring old jewellery weighing 30 g, of which 2 g is beads and thread that are removed. A karat meter test shows 84% purity, below the 22K the family believed it was.

StepWorkingAmount
Net weight30 g − 2 g28 g
Pure gold content28 g × 84%23.52 g
Value at 24K rate23.52 g × ₹13,300₹3,12,816
Exchange deduction2%−₹6,256.32
Exchange credit₹3,06,559.68
New 22K necklace25 g × ₹12,180₹3,04,500
Making10% of gold value₹30,450
GST3% of ₹3,34,950₹10,048.50
New piece total₹3,44,998.50
Balance to pay₹38,438.82

Two things matter here: the purity test (older, pre-hallmark jewellery is often below its claimed karat) and the deduction percentage, which varies by jeweller and is often lower for exchange than for cash sale. Watch the test being done and get the result printed. See how to check gold purity and how to sell gold.

Maharashtrian jewellery

  • Mangalsutra with black beads and two small gold cups (vati), the classic Maharashtrian design.
  • Thushi: a close-fitting choker of tightly strung gold beads, associated with Kolhapur.
  • Kolhapuri saaj: a necklace of small gold charms, traditionally given at marriage.
  • Nath: the curved Maharashtrian nose ring set with pearls.

Mumbai's diverse population means Gujarati, Marwari, Bengali, south Indian and Bohra designs are all made and sold in the city too.

Buying days in Mumbai

Gudi Padwa, the Marathi new year, is considered an auspicious day to buy gold, as are Akshaya Tritiya and Dasara, when people exchange apta leaves called "sona" (gold) as a symbolic gift. Dhanteras and Diwali Padwa round out the year. Expect busy shops, booking offers and making-charge discounts; the gold rate still follows the international market.

Mumbai checklist

  1. Check the hallmark and HUID on new pieces (guide).
  2. For exchange, ask for the XRF or karat meter reading before agreeing a value.
  3. Compare making charges in Zaveri Bazaar and suburban showrooms on the same design.
  4. For diamond jewellery, ask for a lab certificate and separate gold and stone values on the bill.

Frequently asked questions

Is the Mumbai gold rate the benchmark for India?
It is widely used as a reference because Mumbai is the main bullion import and trading centre. Rates in other cities usually differ from Mumbai by only small amounts.
Is gold cheaper in Zaveri Bazaar?
Making charges on plain gold are often competitive in Zaveri Bazaar, and there is a lot of choice. The gold rate itself is similar to other Mumbai jewellers. Check the hallmark and compare the full bill.
Is GST charged on the full value when I exchange old gold?
GST of 3% is charged on the value of the new jewellery, including making charges. The exchange value of your old gold is then set off against the total.
What is the 22K gold rate per 10 grams in Mumbai?
The live table shows the indicative 22K rate per 10 grams, including 6% import duty. Add 3% GST and the making charge for jewellery.
Why was my old jewellery valued below 22K?
Before hallmarking became mandatory, some jewellery was sold as 22K but contained less gold. An XRF or karat meter test measures actual purity, and the exchange value is based on that reading.