Mumbai Gold Rate Today Crash Continues! 24K Falls Below Rs 1.46 Lakh For The First Time Since Akshaya Tritiya

Mumbai Gold Rate Today: The price of 24 karat, 22 karat and 18 karat gold in Mumbai continues its sharp decline on Thursday, June 11. The massive decline in gold rates today came as crude oil prices rallied amid concerns around the Strait of Hormuz closure.

Back in Mumbai, the recent decline in gold rates has created an attractive buying opportunity. The price of 24 karat gold rate saw its lowest-ever mark in two months. For investors and gold jewellery buyers who closely track gold rates, here are all the details about the Mumbai gold rate.

Mumbai Gold Rate Today

The price of 24 karat, 22 karat and 18 karat gold in Mumbai saw a sharp decline on Thursday, June 11. The rate of 24 karat gold in Mumbai declined by Rs 213 per gram to Rs 14,564 per gram, as per Goodreturns data at 11 am on Thursday. Which means that per 10 gram of 24 karat gold in Mumbai became cheaper by Rs 2,130 to Rs 1,45,640.

The rate of 22 karat gold in Mumbai declined by Rs 195 per gram to Rs 13,350 per gram on Thursday. Likewise the rate of 18 karat gold in Mumbai will cost jewellery buyers around Rs 10,923 per gram.

GST, Making Charges On Gold In Mumbai

As per the Goodreturns data, the price of 10 gram of 24 karat gold in Mumbai after 3% GST and making charges will be around Rs 1,68,010. A 10 gram of 24 karat gold article will attract a 3% GST, in this case it will be equivalent to Rs 4,894. It will also attract making charge of around Rs 17,477. Readers must note that making charges on gold articles can vary from jeweller to jeweller.

International Gold Rate Today

The price of international gold rate today remained close to $4,100 per ounce on Thursday, June 11, as per Trading Economics data. The price of gold rate today remained stable after seeing sharp decline due to fresh tensions between Iran and the US in the West Asia.

"Gold prices came under heavy pressure, falling more than 4% as investors favored the U.S. dollar amid escalating tensions between the U.S. and Iran and higher U.S. inflation data," explained Manav Modi Commodities Analyst Motilal Oswal Financial services Ltd.

"Market sentiment deteriorated after fresh U.S. military strikes on Iranian targets and increasingly aggressive rhetoric from President Trump, who warned that Iran would "pay the price" for delaying a peace agreement and signaled further military action if negotiations continued to stall," he added.