Gold Rate in Mumbai Today — 3 June 2026

Asia's Largest Bullion Market

Mumbai is India's gold price-setter — rates quoted in Zaveri Bazaar influence the entire country's gold market. Check today's live gold rate in Mumbai for 24K, 22K, and 18K.

Zaveri Bazaar Dhantoli📍 Maharashtra

Key Highlights of Mumbai Gold Market

🏛️

MCX Gold Hub

Home to India's Multi Commodity Exchange — the country's gold futures trading centre

🚢

Import Gateway

India's largest gold imports flow through JNPT port in Navi Mumbai

💎

Diamond-Gold Cluster

Zaveri Bazaar–Opera House corridor is the largest diamond-gold jewellery cluster in Asia

Today's Gold Rates in Mumbai

Gold Price Calculator for Mumbai

Gold Price Calculator

Typical range: 6-15%

Note: Prices are indicative and may vary. Making charges vary by jeweler and design complexity (typically 6-15% or fixed per gram). GST is 3% on gold + making charges. Please verify with local jewelers before making any purchase decisions.

Gold Rate History in Mumbai (24K)

Gold Price History in Mumbai (1964–2026)

62 years of gold price data sourced from RBI & IBJA archives. Track how 24K gold (per 10g) has performed across different time horizons to make informed investment decisions.

Period:

Start Price

₹28,624

2016

Current Price

₹1,50,500

2026

CAGR

18.1%

per annum

Total Return

426%

+₹1,21,876

▼View Yearly Gold Price Data Table (2016–2026)
YearPrice (₹ per 10g)YoY Change
2026₹1,50,500+28.1%
2025₹1,17,500+50.8%
2024₹77,913+19.3%
2023₹65,330+24.0%
2022₹52,670+8.1%
2021₹48,720+0.1%
2020₹48,651+38.1%
2019₹35,220+12.0%
2018₹31,438+6.0%
2017₹29,668+3.6%
2016₹28,624+8.7%

Data Source: RBI Handbook of Statistics, IBJA (India Bullion and Jewellers Association), and MCX historical records. Prices reflect average annual 24K gold rate per 10 grams in INR. Past performance is not indicative of future returns. Gold prices are subject to market risks.

About the Gold Market in Mumbai

Zaveri Bazaar in South Mumbai is over 150 years old and houses more than 20,000 jewellers, making it Asia's largest bullion market. Mumbai is the epicentre of India's gold economy — the prices quoted here set the benchmark for the entire country. The city also hosts the bulk of India's gold futures trading via the Multi Commodity Exchange (MCX), headquartered in Mumbai. India's largest gold imports flow through Jawaharlal Nehru Port Trust (JNPT), further cementing Mumbai's role as the nation's gold gateway.

Gold Culture & Heritage in Mumbai

Mumbai's gold culture is driven by its massive diamond-gold jewellery cluster in the Zaveri Bazaar–Opera House corridor. The city sees peak demand during Dhanteras, Gudi Padwa, and the wedding season (November–February). Mumbai's cosmopolitan buyer base demands everything from traditional Maharashtrian Thushi necklaces to contemporary Italian-style gold chains.

Gold Buying Tips for Mumbai

Expert guidance to help you get the best deal when buying gold in Mumbai.

  1. 1Always verify the BIS hallmark (HUID number) on every gold piece — Mumbai has the highest density of hallmarking centres.
  2. 2Compare making charges across Zaveri Bazaar shops — they range from 8% to 25% depending on design complexity.
  3. 3For investment gold (24K bars/coins), buy from MMTC-PAMP or authorized bank branches for certified purity.
  4. 4Check the day's MCX gold futures price before visiting — Mumbai jewellers closely track MCX rates.
  5. 5Request a detailed invoice mentioning gold weight, purity, making charges, and GST separately.

Factors Affecting Gold Prices in Mumbai

  • ●MCX gold futures price and international spot gold rates
  • ●USD/INR exchange rate — a weaker rupee increases gold prices
  • ●Import duty (currently 15%) and GST (3%) on gold
  • ●Seasonal demand during Dhanteras, Diwali, and wedding season
  • ●Making charges by Mumbai jewellers (8-25% of gold value)
  • ●Local competition in Zaveri Bazaar keeping margins competitive

Gold Investment Outlook in Mumbai

Mumbai leads India in digital gold investments and Gold ETF trading. With BSE and NSE headquartered here, the city's investors have easy access to Sovereign Gold Bonds, Gold ETFs, and digital gold platforms. For physical gold investment, MMTC-PAMP certified bars are widely available from authorised dealers in Zaveri Bazaar.

Festival & Seasonal Gold Demand in Mumbai

Gold demand in Mumbai peaks during Dhanteras (October/November), Gudi Padwa (March/April), and the wedding season (November–February). Zaveri Bazaar records its highest turnover on Dhanteras — estimated at ₹3,000–5,000 crore in a single day.

Gold Purity Guide — 24K vs 22K vs 18K

24K Gold (99.9% pure)

The purest form of gold, ideal for investment. Too soft for daily-wear jewellery. Available as bars and coins from certified dealers in Mumbai.

22K Gold (91.67% pure)

The most popular purity for jewellery in India. Also called 916 gold. Perfect balance of purity and durability for everyday wear.

18K Gold (75% pure)

Used for modern designer jewellery. More durable due to higher alloy content. Popular for contemporary and western-style designs in Mumbai.

Frequently Asked Questions — Gold in Mumbai

QWhy is Mumbai considered the gold capital of India?▼

Mumbai houses Zaveri Bazaar — Asia's largest bullion market with 20,000+ jewellers. The city is home to MCX (Multi Commodity Exchange) where gold futures are traded, and India's largest gold imports arrive through JNPT port. Rates quoted in Mumbai set the benchmark for the entire country.

QWhat is the average making charge for gold jewellery in Mumbai?▼

Making charges in Mumbai typically range from 8% to 25% of gold value, depending on design complexity. Plain gold chains may have 8-12% charges, while intricate bridal sets can go up to 25%. Always ask for a making charge breakdown before purchase.

QIs gold cheaper in Zaveri Bazaar compared to branded stores?▼

Gold metal rates are similar everywhere (set by international markets). However, Zaveri Bazaar shops generally offer lower making charges (8-15%) compared to branded stores (15-25%). But branded stores offer certified designs, buyback guarantees, and standardised billing.

QWhen is the best time to buy gold in Mumbai?▼

Gold prices fluctuate daily. Traditionally, buying on Dhanteras, Akshaya Tritiya, and Gudi Padwa is considered auspicious. From a market perspective, prices tend to dip slightly during monsoon months (July–August) when demand reduces.

Gold Rates in Other Cities

CityView Rates
DelhiView Rate →
ChennaiView Rate →
PuneView Rate →
HyderabadView Rate →
BangaloreView Rate →
CoimbatoreView Rate →
KolkataView Rate →
AhmedabadView Rate →
KeralaView Rate →
Loading...

Written by the gpaisa.in editorial team · Mumbai gold market expert guide