Gold prices in Mumbai have eased slightly today, down ₹33 per gram on 24K and ₹30 on 22K compared to yesterday’s close. The dip tracks a mild softening in international spot gold, which is currently hovering near $5,000–$5,010 per ounce globally.
Mumbai Gold Rate Today — March 18, 2026 (Per Gram)
| Karat | Purity | Per Gram | Per 10 Grams |
|---|---|---|---|
| 24K | 99.9% | ₹15,775 | ₹1,57,750 |
| 22K | 91.6% | ₹14,460 | ₹1,44,600 |
| 18K | 75.0% | ₹11,831 | ₹1,18,310 |
Rates are retail averages. Making charges, wastage, and 3% GST will be added at point of purchase.
Why Mumbai Rates Are the National Benchmark
Mumbai is where India’s gold story begins. As the country’s primary bullion import and trading hub, rates set here ripple out to every other city. The city’s proximity to SEEPZ — one of India’s largest jewellery export processing zones — and its dense network of bullion traders and banks mean that Mumbai’s 24K rate is effectively the national baseline. Most other cities price their gold with a small premium over Mumbai, depending on local taxes and logistics.
Today, Mumbai’s 24K rate is exactly in line with the national average.
What Is Moving Gold Prices Right Now?
Global safe-haven demand is keeping gold elevated. Geopolitical tensions in West Asia, dollar strength, and MCX futures movement are the key variables to watch on any given day. The Union Budget 2026’s reduction of customs duty on gold to 5% has partially cushioned domestic buyers from the full impact of the global price surge — without it, Mumbai rates would be sitting noticeably higher.
Quick Buying Guide
22K is the standard for jewellery — rings, necklaces, bangles. 24K is your reference for investment gold — coins, bars, digital gold. 18K is ideal for diamond-studded and contemporary pieces. Beyond the spot rate, factor in making charges (₹300–₹600 per gram for plain jewellery), wastage charges if applicable, and 3% GST. Always insist on BIS hallmarked jewellery with a valid HUID code.
Disclaimer: Rates are retail averages for Mumbai as of March 18, 2026. Actual prices may vary by jeweller. Not financial advice.