Gold Rate Today in Mumbai Crosses Rs 1.45 Lakh/10 Gm | Bigger Rally On The Cards This Week?

Gold Rate Today: The price of 24 karat, 22 karat and 18 karat gold in Mumbai surged significantly on Monday, July 27. Defying the trend, silver rate today in the Maharashtra capital remained unchanged. The recent uptick in the precious metal's prices aligned with upward momentum in bullion in the international market.

Known as the financial capital of India, Mumbai is home to prominent celebrities, high net worth individuals and billionaire investors. Hence, gold rates in the city are tracked daily. Here is the latest information about gold rates in Mumbai.

Mumbai Gold Rate Today

The price of 24-karat gold in Mumbai increased by Rs 93 per gram to Rs 14,586 per gram, as per Goodreturns data at 11:30 am on Monday, July 27. The rate of 22-karat gold in Mumbai jumped by Rs 85 per gram to Rs 13,370 per gram, and 18-karat gold in Mumbai became expensive by Rs 69 per gram to Rs 10,939 per gram.

Mumbai Silver Rate Today

The price of silver in Mumbai remained unchanged on Monday. Silver price stood at Rs 240 per gram and at Rs 2,40,000 per kilogram. Silver prices saw sharp volatility in January, followed by a significant crash in February.

The recent uptick in gold prices in Mumbai and the international market came ahead of the US Federal Reserve meeting scheduled to begin on Tuesday, July 28.

"GOLD is consolidating itself in a positive way after its latest rally as expectations about the Fed's policy stance, USD, and geopolitical events are being reassessed. In spite of the volatility that could persist for some time now in the short term, gold is still expected to perform positively going forward, backed by continuous purchase from central banks, strong investment demand, and its safe-haven status. Near-term corrections, if any, will be seen as buying opportunity for the metal, as the medium- to long-term trend remains favorable as well," explained Pranav Koomar, Founder and CEO, PlusCash.

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