Today Gold Rate in Mumbai on October 29, 2024, shows a modest increase across various purities, reflecting current market dynamics. The rates for 22K, 24K, and 18K gold per gram provide essential information for both investors and jewelry buyers, highlighting gold’s continued value as a stable asset.
- 22K Gold Rate: ₹7,375/g (+₹60)
- 24K Gold Rate: ₹8,045/g (+₹65)
- 18K Gold Rate: ₹6,034/g (+₹49)
Currently, the gold rates in Mumbai are ₹7,375 per gram for 22K gold, while 24K gold (999 purity) is priced at ₹8,045 per gram. Additionally, 18K gold is valued at ₹6,034 per gram. The slight uptick in prices may attract investors looking to secure a reliable, inflation-hedged investment. The vibrant gold market in Mumbai, with its rich heritage of shops that have stood for centuries, continues to offer competitive rates, reinforcing gold’s enduring appeal in wealth preservation.
24 Carat Gold Rate for October 29, 2024
Understanding 24K Gold
The purest form of gold, 24K or 999 gold, is priced today at ₹8,045 per gram, reflecting a minor increase from yesterday’s rate. Renowned for its high purity, 24K gold is primarily chosen for investment and ceremonial purposes. Due to its softness, it is less ideal for jewelry but remains a popular choice for wealth preservation.
Price Breakdown for 24K Gold by Weight
| Weight | Today’s Price (₹) | Yesterday’s Price (₹) | Price Change (₹) |
|---|---|---|---|
| 1 gram | ₹8,045 | ₹7,980 | +₹65 |
| 8 grams | ₹64,360 | ₹63,840 | +₹520 |
| 10 grams | ₹80,450 | ₹79,800 | +₹650 |
| 100 grams | ₹8,04,500 | ₹7,98,000 | +₹6,500 |
22 Carat Gold Rate for October 29, 2024
Overview of 22K Gold Prices
Widely used in jewelry, 22K gold is priced at ₹7,375 per gram today, showing a slight increase from yesterday’s rate. Known for its balance between purity and durability, 22K gold is favored for daily-wear jewelry and holds importance as a long-term asset in India. Investors track these daily fluctuations closely, given gold’s role as a hedge against inflation.
Price Breakdown for 22K Gold by Weight
| Weight | Today’s Price (₹) | Yesterday’s Price (₹) | Price Change (₹) |
|---|---|---|---|
| 1 gram | ₹7,375 | ₹7,315 | +₹60 |
| 8 grams | ₹59,000 | ₹58,520 | +₹480 |
| 10 grams | ₹73,750 | ₹73,150 | +₹600 |
| 100 grams | ₹7,37,500 | ₹7,31,500 | +₹6,000 |
18 Carat Gold Rate for October 29, 2024
Insights on 18K Gold Pricing
Today, 18K gold is priced at ₹6,034 per gram, marking an increase from yesterday’s price. This lower karatage option offers a good blend of durability and affordability, making it a popular choice for various jewelry applications.
Price Breakdown for 18K Gold by Weight
| Weight | Today’s Price (₹) | Yesterday’s Price (₹) | Price Change (₹) |
|---|---|---|---|
| 1 gram | ₹6,034 | ₹5,985 | +₹49 |
| 8 grams | ₹48,272 | ₹47,880 | +₹392 |
| 10 grams | ₹60,340 | ₹59,850 | +₹490 |
| 100 grams | ₹6,03,400 | ₹5,98,500 | +₹4,900 |
Today Gold Rate in Mumbai for the Last 10 Days (1 gram) – 24K and 22K
Tracking the daily fluctuations in gold prices is essential for buyers and investors in Mumbai. The gold rate for both 24K and 22K has shown variations over the last ten days, influenced by multiple economic factors, including global market trends and local demand. Here is the recent data for the gold rate in Mumbai:
| Date | 22K | 24K |
|---|---|---|
| Oct 29, 2024 | ₹7,375 (+60) | ₹8,045 (+65) |
| Oct 28, 2024 | ₹7,315 (-45) | ₹7,980 (-49) |
| Oct 27, 2024 | ₹7,360 (0) | ₹8,029 (0) |
| Oct 26, 2024 | ₹7,360 (+65) | ₹8,029 (+71) |
| Oct 25, 2024 | ₹7,295 (+10) | ₹7,958 (+11) |
| Oct 24, 2024 | ₹7,285 (-55) | ₹7,947 (-60) |
| Oct 23, 2024 | ₹7,340 (+40) | ₹8,007 (+43) |
| Oct 22, 2024 | ₹7,300 (0) | ₹7,964 (0) |
| Oct 21, 2024 | ₹7,300 (+20) | ₹7,964 (+22) |
| Oct 20, 2024 | ₹7,280 (0) | ₹7,942 (0) |
Comparison of Average Gold Rate in Mumbai (1 gram)
A long-term analysis of gold prices in Mumbai provides insights into the trends and fluctuations over time, aiding buyers and investors in understanding the broader movements in gold value. Below is a comparison of average rates for 24K and 22K gold over various periods.
| Term | 22K | 24K |
|---|---|---|
| 10 Days | ₹7,321 | ₹7,986.50 |
| 20 Days | ₹7,230 | ₹7,887.25 |
| 30 Days | ₹7,184.33 | ₹7,837.37 |
| 60 Days | ₹7,010.42 | ₹7,647.72 |
| 90 Days | ₹6,863.49 | ₹7,487.44 |
| 180 Days | ₹6,760.16 | ₹7,374.71 |
| 1 Year | ₹6,351.04 | ₹6,928.37 |
| 2 Years | ₹5,849.26 | ₹6,380.97 |
| 3 Years | ₹5,472.93 | ₹5,947.03 |
| 4 Years | ₹5,269.44 | ₹5,649.89 |
| 5 Years | ₹5,105.61 | ₹5,431.27 |
| 9 Years | ₹4,261.11 | ₹4,534.93 |
Historical Gold Rate Movement in Mumbai (April – October 2024)
Gold Price Movement in Mumbai, October 2024
| Date | 24K Rate | 22K Rate |
|---|---|---|
| 1st October | ₹7,691 | ₹7,050 |
| 29th October | ₹8,045 | ₹7,375 |
| Highest | ₹8,045 (29 Oct) | ₹7,375 (29 Oct) |
| Lowest | ₹7,664 (10 Oct) | ₹7,025 (10 Oct) |
| Overall Performance | Rising | Rising |
| % Change | +4.60% | +4.61% |
Gold Price Movement in Mumbai, September 2024
| Date | 24K Rate | 22K Rate |
|---|---|---|
| 1st September | ₹7,304 | ₹6,695 |
| 30th September | ₹7,724 | ₹7,080 |
| Highest | ₹7,745 (27 Sept) | ₹7,100 (27 Sept) |
| Lowest | ₹7,276 (4 Sept) | ₹6,669 (4 Sept) |
| Overall Performance | Rising | Rising |
| % Change | +5.75% | +5.75% |
Gold Price Movement in Mumbai, August 2024
| Date | 24K Rate | 22K Rate |
|---|---|---|
| 1st August | ₹7,036 | ₹6,450 |
| 31st August | ₹7,304 | ₹6,695 |
| Highest | ₹7,325 (28 Aug) | ₹6,715 (28 Aug) |
| Lowest | ₹6,927 (7 Aug) | ₹6,350 (7 Aug) |
| Overall Performance | Rising | Rising |
| % Change | +3.81% | +3.80% |
Gold Price Movement in Mumbai, July 2024
| Date | 24K Rate | 22K Rate |
|---|---|---|
| 1st July | ₹7,228 | ₹6,625 |
| 31st July | ₹6,982 | ₹6,400 |
| Highest | ₹7,500 (17 July) | ₹6,875 (17 July) |
| Lowest | ₹6,873 (26 July) | ₹6,300 (26 July) |
| Overall Performance | Falling | Falling |
| % Change | -3.40% | -3.40% |
Gold Price Movement in Mumbai, June 2024
| Date | 24K Rate | 22K Rate |
|---|---|---|
| 1st June | ₹7,255 | ₹6,650 |
| 30th June | ₹7,228 | ₹6,625 |
| Highest | ₹7,375 (7 June) | ₹6,760 (7 June) |
| Lowest | ₹7,167 (8 June) | ₹6,570 (8 June) |
| Overall Performance | Falling | Falling |
| % Change | -0.37% | -0.38% |
Gold Price Movement in Mumbai, May 2024
| Date | 24K Rate | 22K Rate |
|---|---|---|
| 1st May | ₹7,151 | ₹6,555 |
| 31st May | ₹7,276 | ₹6,670 |
| Highest | ₹7,516 (20 May) | ₹6,890 (20 May) |
| Lowest | ₹7,151 (1 May) | ₹6,555 (1 May) |
| Overall Performance | Rising | Rising |
| % Change | +1.75% | +1.75% |
Gold Price Movement in Mumbai, April 2024
| Date | 24K Rate | 22K Rate |
|---|---|---|
| 1st April | ₹6,938 | ₹6,360 |
| 30th April | ₹7,260 | ₹6,655 |
| Highest | ₹7,434 (19 Apr) | ₹6,815 (19 Apr) |
| Lowest | ₹6,911 (2 Apr) | ₹6,335 (2 Apr) |
| Overall Performance | Rising | Rising |
| % Change | +4.64% | +4.64% |
Best Jewellers to Buy Gold Jewellery in Mumbai
Tanishq
- Overview: A leading name in the Indian jewellery market, Tanishq is known for its diverse range of gold jewellery that blends traditional and contemporary styles.
- Specialties: Tanishq is celebrated for its superior craftsmanship, quality, and customizable jewellery options.
- Locations: Numerous outlets across Mumbai.
Malabar Gold & Diamonds
- Overview: As one of the largest jewellery retail chains in India and the Middle East, Malabar Gold & Diamonds boasts an impressive collection of gold jewellery.
- Specialties: They offer a wide array of traditional and modern designs, along with certification for gold purity.
- Locations: Various branches throughout Mumbai.
Kalyan Jewellers
- Overview: Kalyan Jewellers is a well-established jeweller in India, known for its exquisite selection of gold jewellery crafted by skilled artisans.
- Specialties: They feature unique collections that reflect various cultural styles and preferences.
- Locations: Multiple showrooms in Mumbai.
Sia Jewels
- Overview: Renowned for its artistic designs, Sia Jewels offers a stunning range of gold jewellery suitable for all occasions.
- Specialties: Known for innovative and trendy designs, Sia also provides customization services to meet individual tastes.
- Locations: Several outlets in key areas of Mumbai.
GRT Jewellers
- Overview: With a long-standing reputation for quality and design, GRT Jewellers provides a vast selection of gold jewellery.
- Specialties: GRT is known for intricate designs and exceptional customer service, offering certification for their gold products.
- Locations: Multiple branches across Mumbai.
Buying Gold in Mumbai: Key Factors to Keep in Mind
- Purity Assurance: Ensure that gold is BIS-hallmarked to guarantee its purity and authenticity. Hallmarking protects against counterfeit items.
- Price Determinants: Gold prices vary by karat (e.g., 24K, 22K, 18K). Confirm the purity and associated charges before purchasing. While 24K gold is preferred for investment, 22K is typically used for jewellery.
- GST and Making Charges: A 3% Goods and Services Tax (GST) applies to gold purchases in India. Making charges vary based on design complexity and are generally non-refundable, making it wise to compare prices across sellers.
Investing in Gold vs. Other Assets
- Fixed Deposits (FDs): FDs offer guaranteed returns with low risk but may not keep pace with inflation. Gold acts as a hedge against currency devaluation and economic instability, appealing to conservative investors.
- Real Estate: While real estate can provide high long-term returns, it generally has lower liquidity compared to gold, which can be quickly converted to cash.
- Stocks and Mutual Funds: Though stocks and mutual funds offer growth potential, they come with higher market risks. Gold’s stability makes it a more attractive option for risk-averse investors.
Digital Gold and Its Growing Popularity
Digital gold is becoming increasingly popular as a convenient alternative for those preferring not to handle physical gold. Platforms like Paytm and Google Pay allow users to buy, sell, and securely store digital gold in small increments, appealing to tech-savvy investors seeking flexibility. This option is particularly attractive to younger and first-time investors due to its secure storage and easy access.
Factors Influencing Today’s Gold Rates in Mumbai
- Global Economic Conditions: Gold prices are influenced by international factors such as interest rates and currency strength. Recent economic uncertainties have driven gold prices upward as investors seek safety.
- Domestic Demand: Seasonal demand, particularly during festivals, drives up gold prices, contributing to price increases observed in October.
- Exchange Rates and Import Duties: Since India imports most of its gold, fluctuations in the rupee-dollar exchange rate significantly impact prices. Changes in import duties can also influence costs amidst currency volatility.
Is Now a Good Time to Invest in Gold?
With rising prices, many view this as a favorable time to invest in gold, which serves as a hedge against inflation and economic uncertainty. For those seeking low-risk assets, gold is particularly appealing in a volatile stock market and with fluctuating interest rates.
Gold Investment Options
- Physical Gold: Traditional jewellery or bullion.
- Digital Gold: Available through mobile wallets and online platforms.
- Gold ETFs and Bonds: Ideal for investors interested in gold without holding physical assets.
Tracking Daily Gold Price Changes
Monitoring gold prices is easy with tools like Google Finance, which provide real-time rates across major cities for various purities (24K, 22K, 18K). Users can track prices, fluctuations, and trends that reflect national and international influences. This user-friendly platform serves as a valuable resource for investors, jewelers, and buyers making informed purchasing decisions.
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