Gold prices in Mumbai continued their sharp correction on Monday, February 2, tracking weakness in global bullion markets and profit booking after recent record highs. Buyers saw notable declines across purity levels as traders adjusted to broader commodity volatility and a stronger US dollar.
Latest gold prices in Mumbai:
- 24-carat gold: ₹15,153 per gram
- 22-carat gold: ₹13,890 per gram
- 18-carat gold: ₹11,365 per gram
The drop reflects sustained selling pressure after gold surged to multi-year highs in recent weeks. With bullion markets reacting to macroeconomic cues — including hawkish expectations for global interest rates and liquidation by momentum traders — domestic prices have eased sharply from yesterday’s levels.
For reference, 24K gold in Mumbai was earlier trading above ₹16,000 per gram, making today’s correction of nearly ₹900 per gram significant for consumers and jewellers alike.
Investors and buyers are now watching global bullion trends, currency movements and central bank cues for further direction in gold prices in the coming sessions.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Commodity prices are subject to market risks.
