Gold Rate in Mumbai Today July 16 2026

Mumbai, July 16: Gold prices edged lower in Mumbai on Thursday, reversing part of the gains recorded a day earlier. After showing signs of recovery on Wednesday, the precious metal slipped once again as selling pressure returned across all major purity categories.

According to today’s retail rates, 24-karat gold is priced at ₹14,329 per gram, down ₹28 from the previous session. 22-karat gold has declined by ₹25 to ₹13,135 per gram, while 18-karat gold is now selling at ₹10,747 per gram, lower by ₹20.

The decline isn’t steep enough to change the broader trend, but it does show that gold is still struggling to find firm footing after the sharp correction witnessed earlier this month.

Mumbai Gold Rate Today

Recovery Loses Steam as Gold Slips Again

The market has been moving in both directions over the past week.

After touching a low earlier this week, gold bounced back on Wednesday and raised hopes that prices had started recovering. That optimism, however, was short-lived.

Thursday’s decline has erased a part of yesterday’s gains, showing that the market remains cautious. Instead of moving in one direction, gold has been fluctuating within a narrow range as investors continue reacting to developments in the global bullion market.

Even after today’s fall, 24K gold remains above the July 13 low of ₹14,291 per gram, but it’s still ₹197 below this month’s high of ₹14,526, leaving buyers with more attractive prices than they saw during the early-July rally.

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Gold Price in Mumbai Per Gram

What Would 10 Grams of 22K Jewellery Cost Today?

The daily gold rate reflects only the value of the precious metal. Making charges and GST are added separately while purchasing jewellery.

Based on today’s prices, assuming 12% making charges and 3% GST, here’s an estimate:

The final amount may vary depending on the jeweller, jewellery design, wastage charges and applicable making charges.

10-Day Gold Price Trend

• July 16: ₹14,329 (-₹28)
• July 15: ₹14,357 (+₹77)
• July 14: ₹14,280 (-₹11)
• July 13: ₹14,291 (-₹142)
• July 12: ₹14,433 (No change)
• July 11: ₹14,433 (-₹49)
• July 10: ₹14,482 (+₹38)
• July 9: ₹14,444 (+₹131)
• July 8: ₹14,313 (-₹213)
• July 7: ₹14,526 (-₹136)

The last ten days reflect a market that’s struggling to settle into a clear trend. Sharp declines have been followed by brief recoveries, only for prices to slip again. This back-and-forth movement suggests that traders are responding to changing global cues rather than building fresh bullish positions.

July Performance So Far

Despite today’s decline, gold continues to trade marginally above where it began the month. However, prices remain well below July’s peak, highlighting how much of the early rally has been given back over the past week.

Why Do Gold Prices Change Every Day?

Gold prices move daily due to changes in international bullion prices, movements in the rupee against the US dollar, import duties, inflation expectations, central bank policies and geopolitical developments. Since these factors change frequently, retail gold rates across Indian cities are revised every day.

Conclusion

Gold prices in Mumbai slipped on July 16, with 24K gold easing to ₹14,329 per gram and 22K gold falling to ₹13,135 per gram. While the decline reversed part of Wednesday’s recovery, prices remain below the highs seen earlier this month, keeping gold relatively attractive for buyers. Market participants will continue watching global bullion trends to gauge whether the recent volatility gives way to a clearer direction.

Source: Goodreturns | Gold prices updated for July 16, 2026.