Mumbai Gold Rate Today Gets Cheaper! 24K Falls After 2-Day Pause, Here's What To Pay On June 4, Including GST

Mumbai Gold Rate Today: Gold prices in Mumbai slipped on Thursday, June 4, with 24-karat, 22-karat, and 18-karat gold rates declining after remaining unchanged for the previous two sessions. While gold prices resumed their downward trend, silver rates in the city held steady. The latest decline in domestic gold prices mirrors weakness in the international market, where bullion remained lower amid growing expectations that the US Federal Reserve could maintain a hawkish stance on interest rates.

Back in Mumbai, the recent decline has raised expectations of further price correction in the coming days that may also open opportunities for gold jewellery buyers and even investors. As Mumbaikars prepare for their gold jewellery shopping spree, here are latest details of gold rate in Mumbai and GST charges applicable.

Mumbai Gold Rate Today

The price of 24 karat gold in Mumbai declined by Rs 10 per gram to Rs 15,611 per gram, as per Goodreturns data at 1 pm on Monday. Which means that per 10 gram of 24 karat gold in Mumbai became cheaper by Rs 100 to Rs 1,56,110 today.

Likewise, the rate of 22 karat gold in Mumbai declined by Rs 14,310 per gram and the price of 18 karat gold in Mumbai fell by Rs 11,708 per gram.

Mumbai Gold Rate Today Including GST, Making Charges

As per Gooderturns data, the purchase of a 10 gram of 24 karat gold jewellery would attract a 5% GST of Rs 5,245. Hence, the purchase will cost Mumbai gold jewellery buyers Rs 1,80,088 which will include the price of 10 gram of 24 karat gold, ie Rs 1.56 lakh, making charge of Rs 18,733 and GST of Rs 5,245.

Readers must note that gold jewellery making charges vary for different jewellery shops, hence the final purchase price may vary based on making charges, jewellery designs which may include expensive stones or diamonds, etc.

Mumbai Silver Rate Today

The price of silver in Mumbai remained unchanged. Silver rate today, Thursday, June 4, in Mumbai stood at Rs 280 per gram and at Rs 2,80,000 per kilogram. Silver rate in Mumbai and across India saw massive volatility in January and February.

International Gold Rate Today

While the international gold price continued to remain near its two week low mark, the bullion showcased some consolidation on Thursday. International gold price changed to $ 4,450 per ounce, as per Trading Economics data as on June 4.

"The uptick in gold prices was primarily driven by a combination of geopolitical tensions and a decline in crude oil prices, which settled at $95.50 per barrel (approximately ₹9,133), down by 0.54%. Investors are flocking to safe-haven assets like gold and silver amid uncertainties in the global market," explained Gaurav Garg, research analyst at Lemonn markets desk.