Mumbai Gold Prices Take a Dip Today

It’s Friday, January 5th, 2024, and the golden gleam in Mumbai has slightly dimmed compared to yesterday.

Table of Contents

The price of the precious metal in the City of Dreams has witnessed a modest decline across purities today:


  • 22 karat gold, the most popular choice, is trading at ₹6,193 per gram, down from ₹6,235 yesterday. This translates to a drop of around ₹42 per gram, or a 0.67% decrease.
  • 24 karat gold, the purest form, is down by a similar margin, falling from ₹6,338 per gram to ₹6,294 per gram today. This represents a 0.70% decrease.

So, what’s behind this downward trend? Several factors could be at play:

  • Global cues: Global gold prices have been on a downward trajectory lately, influenced by rising interest rates in the US and other major economies. This weaker global sentiment can impact domestic prices as well.
  • Local market dynamics: The upcoming festive season is typically a time for increased gold buying in India. However, with inflation concerns looming, some potential buyers might be delaying their purchases, leading to lower demand and subsequently, lower prices.
  • Profit-booking: After a period of relative stability, some investors might be taking the opportunity to sell their gold holdings and realize profits, putting downward pressure on prices.

Despite the dip, gold remains a popular investment option in India, valued for its hedge against inflation and economic uncertainty.

Looking ahead, analysts are divided on the near-term direction of gold prices. Some expect further volatility in the short term, while others believe prices could stabilize or even rebound soon. Ultimately, the gold market is complex and influenced by various factors, making predictions difficult.


However, if you’re considering buying gold in Mumbai today, you might find slightly lower prices compared to yesterday. Remember to compare rates from different jewellers and consider factors like purity, making charges, and hallmarks before making your purchase.

Leave a comment

Thanks !

Thanks for sharing this, you are awesome !