Mumbai Gold Rate Today: 24K Stays Near Rs 1.56 Lakh Ahead of RBI MPC Meet | Check June 3 Rates

Mumbai Gold Rate Today: The price of 24 karat, 22 karat and 18 karat gold in Mumbai remained unchanged for the second consecutive day on Wednesday, June 3. Silver rate today in Mumbai today followed the trend and remained stable. Stability in gold rate today in Mumbai and across the country coincided with a decline in the precious metal's rates in the international commodities market.

Lakhs of residents in Mumbai closely track and follow latest trends in gold and silver prices. This helps gold investors and jewellery buyers to take prompt actions. Here are latest gold rate in Mumbai.

Mumbai Gold Rate Today

The price of 24 karat gold in Mumbai stood at Rs 15,622 per gram on Wednesday, June 3, as per Goodreturns data. Which means that per 10 gram of 24 karat in Mumbai costed around Rs 1,56,220 per gram.

For gold jewellery buyers, purchase of a 10 gram of 24 karat gold would also attract GST, which means that the final price is likely to be around Rs 1,80,215. However, purchasing a gold jewellery which is made of 10 gram of 24 karat gold may attract some additional charges like making charges.

The rate of 22 karat gold in Mumbai remained unchanged at Rs 14,320 per gram on Wednesday. Likewise, the rate of 18 karat gold in Mumbai stood at Rs 11,717 per gram.

Mumbai Silver Rate Today

The price of silver in Mumbai stood at Rs 280 per gram and at Rs 2,80,000 per kilogram. Gold rate in Mumbai and across India is seeing a range bound movement after January's sharp surge and Februruary's steep crash.

International Gold Rate Today

The rate of international gold saw marginal decline on Wednesday. International gold rate today fell below $1,500 per ounce, as per Trading Economics data. The recent decline came as market anticipated higher US Federal Reserve rates for longer duration.

"Gold prices edged lower in early morning trade as investors remained cautious amid ongoing geopolitical tensions in the Middle East and ahead of a key batch of U.S. economic data that could offer further clarity on the Federal Reserve's policy outlook," explained Manav Modi Commodities Analyst Motilal Oswal Financial services Ltd.

"U.S. job openings unexpectedly rose in April, reinforcing expectations that the Fed could keep interest rates higher for longer. Gold also surrendered part of its earlier gains following the stronger labour market data. Looking ahead, markets will closely track the ADP employment report, ISM Services PMI and Factory Orders data due later today, while attention remains firmly on Friday's U.S. Non-Farm Payrolls report, which could provide the next major directional cue for bullion markets," Modi added.