What is the difference between 24 karat and 22 karat gold?

Karat is the unit of measurement for gold purity. 24 karat gold is pure gold with no impurities. It is primarily used to store gold coins, bars, electronic devices, and medical devices. 22 karat gold, on the other hand, is an alloy made up of 91.67% gold and the rest of metals such as zinc, silver, nickel, and so on. These impurities in 22 karat gold strengthen the metal, allowing it to be used to make jewellery.

Is 22K gold same as 916 gold?

Yes, 22 karat gold and 916 gold are the same. The number 916 represents the percentage of pure gold in the 22 karat gold alloy. In 100 grams of 22 karat gold, 91.6 grams are pure gold and the rest is a mixture of other metals. In other words, 916 denotes gold purity of 91.6% or 22/24 karat purity.

What is the difference between KDM and Hallmark Gold?

A hallmark is a symbol that indicates the fineness of gold and ensures its purity. The hallmark sign on gold jewellery is issued by the Bureau of Indian Standards (BIS). It attests that the gold jewellery in question complies with international standards. Cadmium soldered gold jewellery is commonly referred to as KDM jewellery. It is made up of 92% gold and 8% cadmium. However, due to the health risks associated with cadmium for artisans, KDM jewellery is not widely used. Cadmium was banned by BIS, and it was replaced with copper and other metals. Although KDM will continue to be used because the solder is 92% pure gold.

How many grams are in one tola gold?

Tola is a Hindi term for gold measurement. A tola of gold is equal to 10 grams of gold.

What is Hallmark Gold?

The hallmark gold certificate certifies the purity of gold. When purchasing gold, buyers should always check the purity of the metal. Hallmark, 916, and other codes indicate the purity of gold, which is beneficial to both buyers and sellers. The Bureau of Indian Standards (BIS) certifies trademarks, which are recognised by the Indian government. Gold is certified in accordance with the rules and regulations of the BIS Act.

How is the hallmarked gold rate in India determined?

Every day, the price of gold is fixed. It is determined by two major factors: the amount of gold in the jewellery (22KT or 18KT) and the type of metal used to mix with the gold.

Who imports and how is 22 carat gold Price in India?

Gold is imported into India by Bank of Baroda, State Bank of India, Bank of India, Union Bank of India, Yes Bank, Punjab National Bank, and Minerals and Metal Trading Corporation of India.

What is one sovereign of gold?

One sovereign of gold weighs 7.98 grams, of which 7.32240 grams are pure gold. The remainder is copper, which gives sovereign coins their distinct color.

Is physical gold better or digital gold?

Physical gold can be held because it is a universal finite currency that is held by the vast majority of central banks. You can also easily buy and sell digital gold units at any time and from any location, and they can be used as collateral for online loans.

Is it possible to buy Gold without GST?

No, GST is levied on both physical gold and digital gold.

How can we check the purity of Gold?

The purity of gold is determined by gold certification. Different certifications, such as 916, Hallmark BIS mark, show the purity of gold and are engraved in gold. This way, both buyers and sellers will be able to determine the purity of gold.

How to safely store Gold in India?

If you want to invest in gold, you can rent a bank locker. Even though bank lockers are costly, they are secure. You can also buy gold in electronic form. Bulk gold can be purchased in the form of an ETF. Buying gold in electronic form protects against theft.

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Gold Rate Today in Mumbai (Thursday, Aug 29, 2024)

GOLDSILVER

Aug 29, 2024

GOLD Rate in Mumbai₹6,611 / gm22 Carat₹47.7GOLD Rate in Mumbai₹7,212 / gm24 Carat₹52

The gold rate in Mumbai, akin to the broader Indian market, experiences consistent fluctuations, reflecting the dynamic nature of the precious metal market. At Financial Express, our unwavering commitment is to provide you with real-time updates on gold prices, ensuring that you are consistently well-informed about the latest trends. Based on the most recent data available, the gold rate in Mumbai as of Aug 29, 2024 for 22-karat gold priced at ₹6,611, and 24-carat gold valued at ₹7,212. Our primary objective is to equip you with accurate and timely information, empowering you to make informed decisions regarding your gold investments. Place your trust in Financial Express for the most current and dependable gold price data in Mumbai.

Stay in the know about silver prices in the bustling financial hub of Mumbai. Our real-time rate tracker offers accurate pricing data and insights to empower your investment decisions. Check silver rates in Mumbai now to make informed choices and seize opportunities in the precious metals market.

Today 22 Carat gold Price/gm in Mumbai (INR)

GM	Today's Price	Yesterday's Price	Price Change
1	₹6,611	₹6,563.3	₹47.7
10	₹66,110	₹65,633	₹477
100	₹6,61,100	₹6,56,330	₹4,770

Today 24 Carat gold Price/gm in Mumbai (INR)

GM	Today's Price	Yesterday's Price	Price Change
1	₹7,212	₹7,160	₹52
10	₹72,120	₹71,600	₹520
100	₹7,21,200	₹7,16,000	₹5,200

gold Rate in Mumbai for Last 10 Days (10 GM)

Date	22 Carat	24 Carat
2024-08-28	₹65,633 (569)	₹71,600 (620)
2024-08-27	₹66,202 (83)	₹72,220 (90)
2024-08-26	₹66,119 (284)	₹72,130 (310)
2024-08-25	₹65,835 (9)	₹71,820 (10)
2024-08-24	₹65,826 (0)	₹71,810 (0)
2024-08-23	₹65,826 (541)	₹71,810 (590)
2024-08-22	₹65,285 (614)	₹71,220 (670)
2024-08-21	₹65,899 (91)	₹71,890 (100)
2024-08-20	₹65,808 (156)	₹71,790 (170)
2024-08-19	₹65,652 (193)	₹71,620 (210)

Month Wise gold Rate Trend In Mumbai

Trend of Gold Price in Mumbai, Jul 2024

	Gold Price
1st July Rate	₹7,228.00
31st July Rate	₹6,982.00
Highest Rate in Jul, 2024	₹7,500.00
Lowest Rate in Jul, 2024	₹6,873.00
Overall Performance	Falling
% Change	-3.40%

Trend of Gold Price in Mumbai, Jun 2024

	Gold Price
1st June Rate	₹7,255.00
30th June Rate	₹7,228.00
Highest Rate in Jun, 2024	₹7,375.00
Lowest Rate in Jun, 2024	₹7,167.00
Overall Performance	Falling
% Change	-0.37%

Trend of Gold Price in Mumbai, May 2024

	Gold Price
1st May Rate	₹7,151.00
31st May Rate	₹7,276.00
Highest Rate in May, 2024	₹7,516.00
Lowest Rate in May, 2024	₹7,151.00
Overall Performance	Rising
% Change	1.75%

Trend of Gold Price in Mumbai, Apr 2024

	Gold Price
1st April Rate	₹7,151.00
30th April Rate	₹7,227.00
Highest Rate in Apr, 2024	₹7,238.00
Lowest Rate in Apr, 2024	₹7,151.00
Overall Performance	Rising
% Change	1.06%

Trend of Gold Price in Mumbai, Mar 2024

	Gold Price
1st March Rate	₹6,316.00
31st March Rate	₹6,845.00
Highest Rate in Mar, 2024	₹6,873.00
Lowest Rate in Mar, 2024	₹6,316.00
Overall Performance	Rising
% Change	8.38%

Trend of Gold Price in Mumbai, Feb 2024

	Gold Price
1st February Rate	₹6,316.00
29th February Rate	₹6,587.00
Highest Rate in Feb, 2024	₹6,627.00
Lowest Rate in Feb, 2024	₹6,316.00
Overall Performance	Rising
% Change	4.29%

Trend of Gold Price in Mumbai, Jan 2024

	Gold Price
1st January Rate	₹6,387.00
31st January Rate	₹6,327.00
Highest Rate in Jan, 2024	₹6,409.00
Lowest Rate in Jan, 2024	₹6,262.00
Overall Performance	Falling
% Change	-0.94%

Trend of Gold Price in Mumbai, Dec 2023

	Gold Price
1st December Rate	₹6,295.00
31st December Rate	₹6,387.00
Highest Rate in Dec, 2023	₹6,425.00
Lowest Rate in Dec, 2023	₹6,180.00
Overall Performance	Rising
% Change	1.46%

Trend of Gold Price in Mumbai, Nov 2023

	Gold Price
1st November Rate	₹61,530.00
30th November Rate	₹62,730.00
Highest Rate in Nov, 2023	₹63,380.00
Lowest Rate in Nov, 2023	₹60,490.00
Overall Performance	Rising
% Change	1.95%

Trend of Gold Price in Mumbai, Oct 2023

	Gold Price
1st October Rate	₹58,200.00
31st October Rate	₹61,850.00
Highest Rate in Oct, 2023	₹62,630.00
Lowest Rate in Oct, 2023	₹57,160.00
Overall Performance	Rising
% Change	6.27%

Trend of Gold Price in Mumbai, Sep 2023

	Gold Price
1st September Rate	₹60,050.00
30th September Rate	₹58,200.00
Highest Rate in Sep, 2023	₹60,320.00
Lowest Rate in Sep, 2023	₹58,200.00
Overall Performance	Falling
% Change	-3.08%

Trend of Gold Price in Mumbai, Aug 2023

	Gold Price
1st August Rate	₹60,440.00
31st August Rate	₹60,160.00
Highest Rate in Aug, 2023	₹60,440.00
Lowest Rate in Aug, 2023	₹59,020.00
Overall Performance	Falling
% Change	-0.46%

Trend of Gold Price in Mumbai, Jul 2023

	Gold Price
1st July Rate	₹59,070.00
31st July Rate	₹60,280.00
Highest Rate in Jul, 2023	₹60,750.00
Lowest Rate in Jul, 2023	₹58,960.00
Overall Performance	Rising
% Change	2.05%

Trend of Gold Price in Mumbai, Jun 2023

	Gold Price
1st June Rate	₹60,760.00
30th June Rate	₹58,850.00
Highest Rate in Jun, 2023	₹61,100.00
Lowest Rate in Jun, 2023	₹58,750.00
Overall Performance	Falling
% Change	-3.14%

Trend of Gold Price in Mumbai, May 2023

	Gold Price
1st May Rate	₹60,760.00
31st May Rate	₹60,930.00
Highest Rate in May, 2023	₹62,400.00
Lowest Rate in May, 2023	₹60,490.00
Overall Performance	Rising
% Change	0.28%

Trend of Gold Price in Mumbai, Apr 2023

	Gold Price
1st April Rate	₹60,000.00
30th April Rate	₹60,930.00
Highest Rate in Apr, 2023	₹61,800.00
Lowest Rate in Apr, 2023	₹59,670.00
Overall Performance	Rising
% Change	1.55%

Trend of Gold Price in Mumbai, Mar 2023

	Gold Price
1st March Rate	₹56,290.00
31st March Rate	₹60,000.00
Highest Rate in Mar, 2023	₹60,320.00
Lowest Rate in Mar, 2023	₹55,530.00
Overall Performance	Rising
% Change	6.59%

Trend of Gold Price in Mumbai, Feb 2023

	Gold Price
1st February Rate	₹57,820.00
28th February Rate	₹56,120.00
Highest Rate in Feb, 2023	₹58,470.00
Lowest Rate in Feb, 2023	₹56,020.00
Overall Performance	Falling
% Change	-2.94%

Trend of Gold Price in Mumbai, Jan 2023

	Gold Price
1st January Rate	₹55,200.00
31st January Rate	₹57,270.00
Highest Rate in Jan, 2023	₹57,930.00
Lowest Rate in Jan, 2023	₹55,040.00
Overall Performance	Rising
% Change	3.75%

Mumbai Facts

Just like all other Indian cities, Mumbai houses several investment options for gold. These options include coins, bars, ingots, or the all-time popular gold jewellery. Its price in this metropolitan fluctuates as everywhere else. However, that does not stop anyone from considering precious metals as an investment option. Standing against inflation and economic contingencies, gold is the safest liquefiable asset in India. In Mumbai, the gold price is standard throughout the city. The city houses the maximum number of gold buyers and sellers as it is the most populous of all the cities in India. The city is known as the commercial capital of India and is all about art, history, culture, food, theatre, cinema, nightlife, shooting for films, etc. Popular Bollywood stars reside in Mumbai. The more the money, the more the liking for gold!