Mumbai Gold Market Faces Slight Retraction as Prices Across All Carats Dip

For those seeking the highest purity, 24-carat gold saw its rate per gram settle at ₹16,188, a marginal decrease from yesterday’s ₹16,189. The broader impact of this dip is more visible in larger quantities; for instance, the price for 8 grams (typically one sovereign) now stands at ₹1,29,344, falling by ₹168 from the previous day's ₹1,29,512. The most significant numerical change was observed in the 100-gram category, which saw a reduction of ₹2,100, bringing the current cost to ₹16,18,800.

The 22-carat segment, which represents the bulk of the retail jewelry market, followed a similar trajectory. The price for a single gram dropped to ₹14,820, down by ₹20 from yesterday's ₹14,840. Consequently, the 10-gram price point is now positioned at ₹1,48,200. Interestingly, while most metrics showed a steady decline, certain market adjustments in the 10-gram change column showed a variance of ₹200, though the overall trend remained firmly in the negative zone. For bulk purchasers, 100 grams of 22-carat gold is now valued at ₹14,82,000, reflecting a total daily decrease of ₹2,000.

Even the 18-carat gold category, often preferred for contemporary stone-studded jewelry, was not immune to the cooling trend. Prices fell by ₹16 per gram, landing at ₹12,126 compared to yesterday’s ₹12,142. The 10-gram rate for 18-carat gold reached ₹1,21,280, a decline of ₹160. This widespread softening of prices across all purities suggests a synchronized market reaction, likely driven by a strengthening rupee or a cooling of international spot prices.

As Mumbai's gold dealers and consumers navigate these daily fluctuations, the current dip provides a strategic window for retail buyers and hedgers alike. While the long-term outlook for gold remains bullish due to its status as a safe-haven asset, today’s minor price correction underscores the sensitive nature of the local market to global macroeconomic shifts. Whether this trend persists or serves as a brief pause before another rally will depend heavily on upcoming central bank announcements and geopolitical developments affecting the global economy.