The appetite for gold extended into the 22-carat category, which is the primary choice for retail jewelry consumers across the metropolitan area. Prices for 22-carat gold rose by ₹210 per gram, bringing the daily rate to ₹14,345 compared to the previous day’s ₹14,135. For those looking at traditional 8-gram sovereign purchases, the price tag has adjusted to ₹1,14,760, while the 10-gram rate settled at ₹1,43,450. Even at the 18-carat level—often favored for diamond-studded ornaments—the market remained bullish with a price hike of ₹172 per gram, resulting in a current valuation of ₹11,737 per gram and ₹1,17,370 for 10 grams. This synchronized rise across all purity tiers underscores a robust demand even as the entry barrier for new buyers continues to climb.
Market analysts suggest that this localized price hike in Mumbai is a direct consequence of fluctuating international benchmarks and a tightening of supply-side dynamics. As the domestic market reacts to these administrative and economic shifts, the implications for the upcoming festive and wedding seasons are substantial. With prices maintaining a steady upward trajectory, both retail buyers and institutional investors are closely monitoring the volatility. This latest surge not only reinforces gold’s status as a preferred safe-haven asset in uncertain times but also sets a high-cost precedent for the Mumbai trade ecosystem, potentially reshaping consumer behavior and investment strategies for the remainder of the fiscal quarter.
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