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Gold Rate Today in Mumbai (Friday, Mar 31, 2023)

Q: 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.

Q: 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.

Q: 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.

Q: 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.

Q: 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.

Q: 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.

Q: 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.

Q: 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.

Q: 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.

Q: Is it possible to buy Gold without GST?

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

GOLDSILVER

Mar 31, 2023

GOLD Rate in Mumbai₹6,000 / gm24 Carat₹33GOLD Rate in Mumbai₹5,500 / gm22 Carat₹30

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

GMToday's PriceYesterday's PricePrice Change
1₹6,000₹5,967₹33
10₹60,000₹59,670₹330
100₹6,00,000₹5,96,700₹3,300

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

GMToday's PriceYesterday's PricePrice Change
1₹5,500₹5,470₹30
10₹55,000₹54,700₹300
100₹5,50,000₹5,47,000₹3,000

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

Date22 Carat24 Carat
2023-03-31₹54,700 (0)₹59,670 (0)
2023-03-30₹54,700 (200)₹59,670 (220)
2023-03-29₹54,500 (210)₹59,450 (240)
2023-03-28₹54,710 (140)₹59,690 (150)
2023-03-27₹54,850 (0)₹59,840 (0)
2023-03-26₹54,850 (150)₹59,840 (160)
2023-03-25₹55,000 (200)₹60,000 (220)
2023-03-24₹54,800 (600)₹59,780 (650)
2023-03-23₹54,200 (800)₹59,130 (870)
2023-03-22₹55,000 (200)₹60,000 (220)
2023-03-21₹54,800 (500)₹59,780 (540)

Month Wise gold Trend In Mumbai

Trend of Gold in Mumbai, Aug 2022

Gold Price
01 Aug, 2022₹51,380.00
31 Aug, 2022₹51,270.00
Highest Rate in Aug, 2022₹52,530.00
Lowest Rate in Aug, 2022₹51,230.00
Overall PerformanceFalling
% Change-0.21%

Trend of Gold in Mumbai, Sep 2022

Gold Price
01 Sep, 2022₹50,730.00
30 Sep, 2022₹50,900.00
Highest Rate in Sep, 2022₹51,160.00
Lowest Rate in Sep, 2022₹49,960.00
Overall PerformanceRising
% Change0.34%

Trend of Gold in Mumbai, Oct 2022

Gold Price
01 Oct, 2022₹50,730.00
31 Oct, 2022₹50,840.00
Highest Rate in Oct, 2022₹52,200.00
Lowest Rate in Oct, 2022₹50,400.00
Overall PerformanceRising
% Change0.22%

Trend of Gold in Mumbai, Nov 2022

Gold Price
01 Nov, 2022₹50,780.00
30 Nov, 2022₹52,970.00
Highest Rate in Nov, 2022₹53,180.00
Lowest Rate in Nov, 2022₹50,290.00
Overall PerformanceRising
% Change4.31%

Trend of Gold in Mumbai, Dec 2022

Gold Price
01 Dec, 2022₹53,180.00
31 Dec, 2022₹55,200.00
Highest Rate in Dec, 2022₹55,200.00
Lowest Rate in Dec, 2022₹53,180.00
Overall PerformanceRising
% Change3.80%

Trend of Gold in Mumbai, Jan 2023

Gold Price
01 Jan, 2023₹55,200.00
31 Jan, 2023₹57,270.00
Highest Rate in Jan, 2023₹57,930.00
Lowest Rate in Jan, 2023₹55,040.00
Overall PerformanceRising
% Change3.75%

Trend of Gold in Mumbai, Feb 2023

Gold Price
01 Feb, 2023₹57,820.00
28 Feb, 2023₹56,120.00
Highest Rate in Feb, 2023₹58,470.00
Lowest Rate in Feb, 2023₹56,020.00
Overall PerformanceFalling
% Change-2.94%

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!