Longer ranges, with every recorded day in a table, are on our gold price history page.
Mumbai Gold Rate — All Weights
Live rate for the karat selected above · Excludes GST & making charges
| Weight | Gold Rate | Change |
|---|---|---|
| 1 Gram | ₹14,226 | ▼ ₹45 |
| 2 Grams | ₹28,452 | ▼ ₹90 |
| 4 Grams | ₹56,904 | ▼ ₹180 |
| 8g (1 Tola) | ₹1,13,808 | ▼ ₹360 |
| 10 Grams | ₹1,42,260 | ▼ ₹450 |
| 20 Grams | ₹2,84,520 | ▼ ₹900 |
| 50 Grams | ₹7,11,300 | ▼ ₹2,250 |
| 100 Grams | ₹14,22,600 | ▼ ₹4,500 |
Mumbai vs Other Cities
22K gold per 10 grams. All five cities currently show the same rate — we apply no city premium, because we have not been able to measure one we can stand behind. See how we calculate rates.
| City | 22K / 10g | Change | vs Mumbai |
|---|---|---|---|
| Chennai | ₹1,30,410 | ▼ ₹410 | — |
| Mumbai You are here | ₹1,30,410 | ▼ ₹410 | |
| Delhi | ₹1,30,410 | ▼ ₹410 | — |
| Kolkata | ₹1,30,410 | ▼ ₹410 | — |
| Kochi | ₹1,30,410 | ▼ ₹410 | — |
What those marks mean, and how to verify a HUID before you pay: see our BIS hallmark and HUID guide.
Mumbai does not track the benchmark — Mumbai is where the benchmark is made
We do not add a local premium to any city on this site. For Mumbai there is a particularly good reason, and it is more interesting than a premium would have been.
The IBJA rate this entire site is built on is published by the India Bullion and Jewellers Association, founded in 1919, from IBJA House on 2nd Agiary Lane, inside Zaveri Bazaar. The benchmark is polled from physical-market participants and published twice each business day. When we say a rate in Chennai or Kochi is "the national benchmark plus a local premium", the benchmark in that sentence originates a few hundred metres from Mumbai's main jewellery street.
So Mumbai does not carry a structural premium over the national rate in the way southern markets sometimes do — it is closer to being the reference the others are quoted against. A Mumbai buyer comparing a shop quote to the figure on this page is doing an unusually direct comparison.
Mumbai's bullion history is a large part of why. The trade concentrated here from the 1860s, when Bombay was establishing itself as the subcontinent's principal port, and by 1920 the Bombay bullion forwards market was among the largest in the world.
Zaveri Bazaar: retail counter and wholesale floor in the same lane
Zaveri Bazaar sits at Bhuleshwar in South Mumbai, just north of Crawford Market, and it is not primarily a retail destination in the way T. Nagar or Karol Bagh are. It operates on several levels at once: shopfront retail, wholesale supply to jewellers across western India, an import and distribution channel, and a business-to-business trading floor — frequently within the same building.
The Tribhovandas Bhimji Zaveri family opened here in 1864 and the firm still trades as TBZ, which gives some sense of the continuity involved. The lanes are narrow, the signage is dense, and a first-time buyer can find the experience genuinely disorienting compared with a mall showroom.
The practical implication for a retail buyer: the spread of prices and making charges you will be quoted across Zaveri Bazaar in a single afternoon is wider than in most Indian markets, because you are walking past wholesalers, retailers and B2B operations without obvious signals of which is which. That is an opportunity if you compare several quotes, and a liability if you take the first one.
Gudi Padwa, Diwali and the Mumbai buying year
Maharashtra's gold calendar is anchored by Gudi Padwa, the Marathi New Year, which falls in March or April and is one of the traditionally auspicious days for significant purchases — gold among them. It is the state's closest equivalent to the role Vishu plays in Kerala or Pongal in Tamil Nadu.
From there the year runs through Akshaya Tritiya in April or May, then the main peak around Dhanteras and Diwali in October or November, which in Mumbai is less a single-day spike than a fortnight of elevated activity.
Because Zaveri Bazaar is a wholesale centre as well as a retail one, its seasonality runs ahead of consumer demand: stock is being built and moved in the weeks before the festival, not during it.
What to check before you pay, in Mumbai specifically
- Get three quotes before you commit. This advice is generic almost everywhere, but in Zaveri Bazaar it is unusually load-bearing, because the shops standing next to each other may be operating at completely different points in the supply chain.
- Establish whether you are in a retail or wholesale shop. Minimum quantities, billing practice and willingness to deal with a walk-in buyer all vary accordingly.
- Insist on a proper tax invoice. A market with heavy B2B traffic has more scope for informal billing. A full invoice showing metal value, making charges and GST separately is also what you will need for any future exchange or resale.
- Compare the quote against the benchmark on this page. You are in the city where that benchmark is set, so a large unexplained gap is a question worth asking out loud.
- Verify the HUID in the BIS CARE app before payment. See our hallmark and HUID guide.