Mumbai Gold Rates On April 14: Yellow Metal In 24K, 22K, 18K Fall on Ambedkar Jayanti; Should You BUY?

Gold Rate in Mumbai Today: The Gold rate in Mumbai fell on Monday, creating a favourable opportunity for buyers to purchase the yellow metal today on the occasion of Tamil New Year. The slight decline in gold prices has come days after the precious metal hit an all-time mark amid geopolitical uncertainty and stock market volatility.

Due to the celebration of multiple harvest festivals across India, including Bihu, Tamil new year, Vishu, etc. Simultaneous celebrations of multiple harvest festivals today make it an auspicious occasion for buying gold, even in Mumbai.

Ambedkar Jayanti Today

The day also coincides with Babasaheb Bhim Rao Ambedkar's birth anniversary. Known as the Father of Indian Constitution, Bhim Rao Ambedkar played a key role in the formation of the Indian constitution. The visionary leader was born on on April 14, 1891, in Mhow, Madhya Pradesh, India.

Mumbai Gold Rate Today

There has been a slight decline in the gold price in Mumbai on Monday, April 14. The price of 24 karat gold stood at Rs 95,510 per 10 grams after declining by nearly Rs 1600 today. The price of 22-karat gold in Mumbai declined by nearly Rs 1500 per 10 grams to Rs 87550 today. Whereas, the 18-karat gold price in Mumbai stood at Rs 71640 per 10 grams on Monday.

Gold price in Mumbai witnessed a sharp increase on April 10 when the price of 22 karat gold increased by nearly Rs 2700 to Rs 85600 per 10 grams. The price of 24 karat gold increased by Rs 2940 to Rs 93380.

Mumbai Silver Rate Today

The price in Mumbai stood at Rs 109.9 per gram and Rs 109900 per kilogram after declining Rs .1 and Rs 10, respectively. The demand for silver generally increases when gold prices are higher as most of the buyers see the precious metal as an alternative of gold for jewellery and other items.

The gold price and silver price in Mumbai mentioned here are indicative and hence people must always check with local jewellery shops before making purchase. Additionally, the gold prices mentioned here doesn't include extra charges which may be incurred by buyers like making charges, additional duties, etc.

Gold Rate in India Today

Gold prices in India declined on Monday after surging to record levels last week amid continued geopolitical uncertainty. The decline in gold prices in India has come at a time when the different states and communities in India are celebrating the beginning of new harvest season. From Tamil Nadu to Punjab and Assam to Bengal, unique celebrations are going across the country to mark the beginning of new year.

People in Bengal, Assam, and even in neighboring country Bangladesh are celebrating Poila Baisakh, whereas, the people in Bihar and Uttar Pradesh are celebrating the occasion as Bishua. In Tamil Nadu the day is celebrated as Tamil New year, in Kerala people are celebrating Vishu.

The 24-karat gold rates in India fell by Rs. 160 per 10 grams to cost Rs. 95,510 on Monday. Likewise, the 22-karat gold price in India fell by Rs. 150 per 10 grams, to cost Rs. 87,550. The 18-karat gold rates declined by Rs. 120 to retail at Rs. 71,640 per 10 grams. The fall in gold price has brought a favourable situation for gold buyers in India to make purchases on the beginning of new year.