Gold prices in Mumbai rose on Wednesday, May 20, amid continued volatility in global bullion markets, rising crude oil prices and geopolitical tensions linked to the ongoing Iran conflict.
According to the latest rates, 24 karat gold in Mumbai was priced at Rs 15,835 per gram, while 22 karat gold stood at Rs 14,515 per gram. The 18 karat gold rate in Mumbai was recorded at Rs 11,876 per gram.
The increase in domestic gold prices comes even as international gold futures traded lower during early European hours. Analysts said a stronger US dollar and rising Treasury yields have pressured global bullion prices, while inflation concerns linked to higher energy prices continue to support safe haven demand.
Market participants are also closely watching the release of the US Federal Reserve meeting minutes later on Wednesday for further direction on interest rates and monetary policy outlook.
Gold rate today in Mumbai
| Gold Type | Price Today |
|---|---|
| 24K Gold per gram | Rs 15,835 |
| 22K Gold per gram | Rs 14,515 |
| 18K Gold per gram | Rs 11,876 |
22K gold price in Mumbai today
| Quantity | Today Price |
|---|---|
| 1 gram | Rs 14,515 |
| 8 gram | Rs 1,16,120 |
| 10 gram | Rs 1,45,150 |
| 100 gram | Rs 14,51,500 |
Why gold prices are moving today
Gold prices remain sensitive to movements in crude oil prices, US Treasury yields, dollar strength and geopolitical developments.
Persistent tensions in West Asia and concerns over inflation have kept investors cautious, while elevated bond yields have increased volatility across commodity markets.
Experts said further movement in gold prices will depend on signals from the Federal Reserve, developments in global crude oil markets and investor sentiment towards safe haven assets.
Disclaimer: Gold prices mentioned above are indicative and may vary across jewellers and cities due to local taxes, transportation charges and making charges.