BIG Crash In Mumbai Gold Rate Today! 24K Falls Rs 7,100/100 gm On Monday; Should You Buy? 29 Dec Rates

Mumbai Gold Rate Today: The price of gold in Mumbai and other Indian cities saw a sharp decline on Monday, December 29. The sharp decline in gold rates today was long-awaited as the precious metal jumped nearly 8.6% in one month. The decline in the Mumbai gold rate has also raised expectations of further correction in the coming days due to the ongoing wedding season.

Silver and gold have given strong returns in the year 2025, as gold prices have surged nearly 95% and silver prices have surged over 170% since the beginning of the year.

Mumbai Gold Rate Today

The price of 24 karat gold in Mumbai declined by Rs 71 per gram to Rs 14,171 per gram. Likewise, the 22 karat Mumbai Gold Rate today fell by Rs 65 per gram to Rs 12,990 per gram. The rate of 18 karat gold in Mumbai also dipped by Rs 54 per gram to Rs 10,628 per gram. Despite Monday's correction, gold rate continue to remain close to their record-high mark.

"The strong rally in gold prices indicates that market players are increasingly turning to this metal as a hedge against economic uncertainties. Although the prices are accelerating rapidly, still, market dynamics are supportive, and hence, prices may remain high in the coming days, even with minor pullbacks," Aksha Kamboj, Vice President, India Bullion & Jewellers Association (IBJA) and Executive Chairperson, Aspect Global Ventures.

Mumbai Silver Rate Today

The price of silver in Mumbai fell by Rs 4 per gram to Rs 258 per gram. Hence Mumbai silver rate today stood at Rs 2,58,000 per kilogram on Monday. THe prices of silver in Mumbai and other Indian cities have jumped nearly 170% since the beginning of the year 2025. Contrastingly, silver rates on Multi Commodity Exchange (MCX) touched a fresh all-time record high mark of Rs 2.54 lakh per kilogram (for MCX silver futures contract with March expiry) on Monday.

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