Gold rate in Mumbai today
The 24K gold rate in Mumbai today is ₹ 134,072 per 10 grams, ₹ 13,407 per gram and ₹ 156,379 per tola. Rates on this page are recalculated throughout the trading day, so the figure you see is the one in force right now.
For jewellery buyers the more relevant grade is 22 karat, currently ₹ 122,899 per 10 grams. Twenty-one karat, common in Gulf-style designs, is ₹ 117,313, and 18 karat — the standard for diamond and stone settings — is ₹ 100,554. Twenty karat, occasionally quoted for lighter pieces, works out at ₹ 111,727 per 10 grams.
Silver in Mumbai is trading at ₹ 201.88 per 10 grams for 999 fine, or ₹ 6,279 per troy ounce.
The Mumbai gold market
Zaveri Bazaar is the largest bullion market in India and the point through which a substantial share of the country's imported gold passes. Mumbai's rate therefore functions as the national floor in the same way Karachi's does in Pakistan — everywhere else adds freight to it. The density of dealers in a few square kilometres keeps margins the tightest in the country.
Where Mumbai sits against the rest of India
Of the 101 India markets we price, Mumbai is currently the cheapest . Kottayam, the dearest market, is a further ₹ 416 above here.
That gap is not a markup anyone chose. The metal costs the same everywhere on earth at any given second — what differs is the cost of getting a physical bar onto a counter in Mumbai: freight from the point of import, insurance in transit, security and storage, and how many dealers compete locally. The live national ranking shows every market side by side.
Buying gold in Mumbai
Zaveri Bazaar prices finer than any showroom in India, but it is a wholesale environment and behaves like one. For a first substantial purchase, the organised chains offer certification, buy-back terms and returns that the bazaar does not. Whichever you choose, verify the BIS hallmark and HUID before paying — volume is no substitute for verification.
Whatever else you do, get four figures separately before agreeing anything: the metal rate for the exact karat you are buying, the making charge, the wastage percentage, and the tax. With those four, two shops become directly comparable. With a single all-in price, they cannot be — and a shop unwilling to break it down has told you something about the price.
One more local reference point: at current Mumbai rates a gram of 24K gold costs about 66× a gram of 999 silver. Silver rates for Mumbai are published in full.
Before you buy or sell in Mumbai
These cost people more money than the rate itself does, and each is worth two minutes:
- Two words decide the price here. 916 is the hallmark for 22 carat, and a pavan is 8 grams — get both straight before comparing shops.
- Making charges, not the gold rate, are what differ between shops. How they are calculated, and why a low charge with high wastage can cost more than the reverse.
- Check the karat before you check the price. What the stamps guarantee and which tests actually prove anything — the magnet test only works in one direction.
- Understand where the number comes from. The full chain from dollar spot to the board outside your jeweller, with today's live figures at each step.