Gold Rate Today Sees A Massive Drop In Mumbai, Pune, Nagpur! 24K Down Rs 1,740/10 Gm; Check Rates On 18 Nov

Mumbai Gold Rate Today: There was a sharp drop in the prices of gold in Mumbai, Pune, Nagpur and other Maharashtra cities on Tuesday, November 18. Silver rate in Mumbai also saw a sharp decline today. The decline in precious metals' domestic prices reflected the dip in international gold prices amid cautiousness around the US Federal Reserve policy announcement in December.

Gold rate today is at a crucial juncture right now as upcoming US economic data, US Fed rate cut expectations, Dollar and Rupee performance, will define the course of its next leg of rally. In Mumbai, gold prices are closely tracked by investors as well as retail jewellery buyers. Amid the ongoing wedding season, the demand for gold is likely to remain strong.

Mumbai Gold Rate Today

The prices of 24 karat gold in Mumbai declined by Rs 174 per gram to Rs 12,366. Whereas, the prices of 22 karat gold in Mumbai fell from around Rs 160 per gram to Rs 11,335 per gram. Likewise, the rate of 18 karat gold in Mumbai declined from around Rs 131 per gram to Rs 9,274 per gram.

Gold Rate Today – Mumbai, Pune & Nashik

Mumbai Silver Rate Today

Silver rate in Mumbai declined significantly on Tuesday. Mumbai silver rate today fell to Rs 162 per gram and to Rs 1,62,000 per kilogram. Silver rates are closely tracked by investors as the precious metal saw a sharp surge in its demand since the beginning of the year 2025.

"Following a brief surge, gold prices have dipped marginally, which is indicative of the volatility seen in recent weeks. Demand for gold is still adjusting ahead of peak wedding season, even though global cues are staying constant. Given that the overall outlook for gold remains stable, investors may want to take advantage of this slight correction to enter the market gradually," stated Aksha Kamboj, Vice President, India Bullion & Jewellers Association (IBJA) and Executive Chairperson, Aspect Global Ventures.

"After a series of fluctuating prices, silver is currently trading at ₹154,933 per kg in India. As traders respond to changing global cues and uneven physical demand, there is a slight decline from the previous price. Even though the medium-term outlook for silver is still positive, buyers have a short window of opportunity to profit from lower levels during this correction," added Kamboj.

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