Gold price in Mumbai today
The current gold rate in Mumbai, in INR, with the local market context behind it. Updated 29 April 2026.
Key takeaways
- Gold in Mumbai is quoted in INR, and the rate on this page moves with the market.
- The price you actually pay is usually above the quoted rate once a dealer's premium and any local taxes are added.
- Wherever you buy, check the gold is real, allocated to you, and independently verified — not an IOU on someone's ledger.
- With Stacks you can buy real, allocated gold from your phone. RSM independently audits the gold monthly for existence and reconciliation, so holdings match what's issued.
Gold rate in Mumbai today
Per gram, in INR. Updated 26 August 2026.
International reference: $4,596.72 / oz
| Purity | Per gram | Per 10 grams |
|---|---|---|
| 24K (999) | ₹14,102 | ₹1,41,020 |
| 22K (916) | ₹12,917 | ₹1,29,174 |
| 21K (875) | ₹12,339 | ₹1,23,393 |
| 18K (750) | ₹10,577 | ₹1,05,765 |
Indicative rates derived from the international spot price. Retail prices may differ by a small dealer margin and any local making charge or tax.
How does the Mumbai gold market work?
Mumbai is the operational center of India's gold market. The wholesale trade clusters around Zaveri Bazaar in Bhuleshwar, where hundreds of jewellers and refiners have worked the same blocks for over a century. Retail prices here are quoted in two grades — 22-karat for traditional jewellery and 24-karat for investment-grade coins and bars — and the daily rate is set each morning by the Bombay Bullion Association before being mirrored across the country. Indian buyers pay a 3% GST on gold purchases and an additional 5% making charge on jewellery, which is why bars and coins from agencies like MMTC-PAMP carry a noticeable premium over the international spot price. Demand spikes around Akshaya Tritiya in April or May and again through the Dhanteras-to-Diwali window, when gold buying is considered auspicious. Outside those peaks, Mumbai's gold prices track the LBMA London fix closely, adjusted for the rupee.
Other ways to save in gold
Physical bars and coins from a refiner are the most direct form of gold ownership. Beyond that, gold ETFs offer paper exposure without storage, and a newer category of allocated digital gold apps — Stacks is one of them — let you save in fractional grams backed by audited vault holdings, with the option to redeem or send the gold to someone else. Each form trades convenience against the cost of custody; none replaces a basic understanding of how the local market sets price.
Frequently asked questions
Is gold cheaper in Mumbai than the international price?
No — it usually costs a little more. Gold itself is one global price, and outside festival peaks Mumbai's rate tracks the LBMA London fix closely, adjusted for the rupee. What sits on top is local: 3% GST, the dealer's premium, and, on jewellery, the making charge. That is why bars and coins from agencies like MMTC-PAMP carry a noticeable premium over the international spot price. Mumbai's advantage is depth and choice, not a discount.
What tax do I pay when I buy gold in Mumbai?
Indian buyers pay 3% GST on gold purchases. Jewellery carries an additional 5% making charge on top of the metal value. The making charge is the part most people underestimate: it pays for craftsmanship, and it does not come back to you at resale. Ask for an invoice that itemises the gold value, the GST and the making charge as separate lines — if a shop quotes one all-in number, you cannot see what you are actually paying for.
Should I buy 22-karat or 24-karat gold?
Mumbai quotes two grades. 22-karat is the traditional jewellery standard, durable enough to be worn and set with stones. 24-karat is the investment grade, used for coins and bars. If you are buying to wear, 22-karat is the normal choice. If you are buying to save, 24-karat holds more pure gold per gram and skips the design premium you would pay on an ornament.
Where do people buy gold in Mumbai?
Zaveri Bazaar in Bhuleshwar is the centre of the trade — hundreds of jewellers and refiners have worked the same blocks there for over a century, and it is where the wholesale market clusters. Neighbourhood jewellers across the city quote against the same daily rate. For coins and bars rather than ornaments, buyers typically go to established agencies such as MMTC-PAMP, whose products are made for saving rather than wearing.
How do I know the gold I bought is real, and that the price is fair?
On price: the Bombay Bullion Association sets the rate each morning and it is mirrored across the country, so the metal price should be close to identical at every shop in the city. Jewellers differ on making charge and premium, not on the gold rate — check the day's rate before you walk in. On purity: have the piece weighed in front of you rather than accepting a pre-tagged weight, take an invoice stating karat and gram weight, and if you are spending a meaningful amount, have it assayed independently before you pay.
Is it better to buy jewellery or coins and bars?
For saving, coins and bars are the more efficient form. Jewellery adds a making charge on top of the metal — that is the cost of the craftsmanship, and it does not return at resale. A 24-karat coin or bar is close to pure metal and priced against the day's rate plus a premium. If you want to wear it, buy jewellery and treat the making charge as the price of the design. If you only want the gold, apps such as Stacks are another option: real, allocated gold you can buy by the gram from your phone, with an independent auditor, RSM, verifying monthly that the gold exists and that holdings match what's issued.
Gold prices in other cities
Save in gold from Mumbai
Stacks is live — download the app to buy fractional, allocated gold and send it across borders. Every gram is allocated and audited monthly by RSM.