June 5, 2026
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Check the live 22 carat (916) and 18 carat gold rate per gram in Mumbai below — updated daily by Manubhai Jewellers, Borivali’s trusted gold and diamond jeweller since 1993.
The Mumbai gold rate changes every business day with the international spot price, the USD-INR exchange rate and local bullion demand. The rates shown above are the wholesale metal rates for Mumbai — they do not yet include making charges or GST, which are added when you buy finished jewellery. We refresh the rate every weekday morning by 10:30 AM IST.
22 carat gold — stamped 916 because it is 91.6 percent pure — is the standard for Indian jewellery. Almost every necklace, bangle, mangalsutra and ring made in Mumbai is 22K. The small alloy of copper, silver and zinc gives the gold strength to be worn daily without bending.
24 carat gold is the purest form — 99.9 percent pure — sold in Mumbai mainly as coins and bars for investment and festive gifting. It is too soft for daily-wear jewellery. 18 carat gold is 75 percent pure (750 hallmark) and is the preferred choice for diamond-studded and modern lightweight pieces, as it holds stone settings securely.
The daily Mumbai gold rate moves with four main factors: the international spot price set on the London (LBMA) and New York (COMEX) markets; the USD-INR exchange rate, since gold is priced in dollars and a weaker rupee makes gold costlier; import duty and GST set by the Union government; and local Zaveri Bazaar demand, which peaks during the wedding season and festivals like Akshaya Tritiya and Dhanteras. The India Bullion and Jewellers Association (IBJA) publishes the benchmark rate each morning.
The rate on this page is the metal cost only. Your final bill adds three components: making charges (8 to 25 percent of metal value at Manubhai Jewellers, depending on design), GST (3 percent on the metal value plus 5 percent on making charges), and a fixed BIS hallmarking charge of Rs. 45 per piece. Always ask for a fully itemised bill that shows metal, making, GST and hallmark as separate lines — a vague single-line invoice can hide a 4-5 percent overcharge.
Manubhai Jewellers has been Borivali’s trusted gold and diamond jeweller since 1993 — three generations of craftsmanship, tens of thousands of 4.7-4.9 rated reviews, and three showrooms across Mumbai and Thane. Every piece is 916 hallmarked with a verifiable HUID, every diamond is certified, and every purchase comes with a transparent itemised bill and a written buyback guarantee.
24 carat gold is 99.9 percent pure and is used for coins, bars and investment. 22 carat gold is 91.6 percent pure (also called 916 gold) and is alloyed for strength so it can be made into jewellery. Almost all gold jewellery sold in Mumbai is 22 carat.
Yes, 916 gold and 22 carat gold are the same. The number 916 refers to the purity — 91.6 percent gold content. When BIS-hallmarked, you will see a 916 stamp along with a 6-digit HUID code.
The Mumbai gold rate is set by the India Bullion and Jewellers Association (IBJA) each morning based on the international spot price, the USD-INR exchange rate, import duty and local demand. Jewellers then add their margin, making charges and GST for the final retail price.
No. The rates shown are the metal cost only. Your final bill includes 3 percent GST on the metal value, 5 percent GST on making charges, and the making charge itself, which typically ranges from 8 to 25 percent of metal value depending on design.
Yes. Manubhai Jewellers offers a transparent buyback and old gold exchange policy. Purity is tested in front of the customer using XRF spectrometry, and the days buyback rate is applied. Bring your original invoice for the best rate, or visit any showroom in Borivali West or Thane.
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