Gold Rate in Mumbai Today, July 29, 2026: 24K Gold Drops to ₹14,351 as Downtrend Continues

Mumbai, July 29: Gold prices in Mumbai continued to soften on Wednesday, extending losses after Tuesday’s sharp correction. While today’s decline was much smaller, bullion rates remained under pressure across all major purity categories.

According to the latest retail rates, 24-karat gold is priced at ₹14,351 per gram, down ₹66 from the previous session. The 22-karat rate has eased to ₹13,155 per gram, while 18-karat gold has slipped ₹50 to ₹10,763 per gram.

The latest decline follows Tuesday’s steep fall, when 24K gold dropped ₹169 in a single session. Together, the back-to-back losses have erased much of the gains recorded during last week’s rally.

Mumbai Gold Rate Today

Gold Extends Its Retreat

After touching ₹14,651 per gram on July 22, gold prices have struggled to hold higher levels.

The market briefly recovered to ₹14,586 on July 27, but that rebound proved short-lived. Prices slipped ₹169 on July 28 and have fallen another ₹66 today, taking the 24K rate down to ₹14,351.

The current level is ₹300 below the July 22 high, showing that most of last week’s rally has now been wiped out.

Investors looking to diversify beyond physical gold can also explore the list of Gold ETFs in India.

Gold Price in Mumbai Per Gram

The above prices are indicative and exclude GST, TCS and other applicable charges. The final amount may vary depending on the jeweller, making charges and jewellery design.

What Would 10 Grams of 22K Jewellery Cost Today?

The listed gold rate represents only the bullion value. Jewellery purchases also include making charges and GST.

Assuming making charges of 12% and GST of 3%, the estimated cost for 10 grams of 22K jewellery is:

The final invoice may vary depending on the jeweller’s making charges, wastage and design.

10-Day Gold Price Trend

July 29: ₹14,351 (-₹66)

July 28: ₹14,417 (-₹169)

July 27: ₹14,586 (+₹93)

July 26: ₹14,493 (No change)

July 25: ₹14,493 (+₹60)

July 24: ₹14,433 (-₹185)

July 23: ₹14,618 (-₹33)

July 22: ₹14,651 (+₹229)

July 21: ₹14,422 (+₹76)

July 20: ₹14,346 (+₹17)

The last 10 sessions underline how quickly sentiment has shifted. Gold rallied strongly through July 22 before reversing course, with alternating gains and losses giving way to two straight days of declines. The latest pullback has brought prices close to where they traded at the beginning of this period.

Recent Gold Price Performance

The broader picture shows that almost the entire rally from last week has faded. Despite several sharp swings during the period, both 24K and 22K gold are now trading only ₹5 above their July 20 levels.

Why Do Gold Prices Change Every Day?

Gold prices in Mumbai are influenced by several domestic and international factors. Global bullion prices, fluctuations in the rupee against the US dollar and changes in import costs all affect retail gold rates.

Inflation expectations, interest-rate outlook, central bank purchases and geopolitical developments also play an important role in determining daily price movements. Local taxes and jeweller-specific charges further influence the final price paid by consumers.

Conclusion

Gold prices in Mumbai remained under pressure on July 29, with 24K gold falling ₹66 to ₹14,351 per gram and 22K gold easing to ₹13,155. Although the latest decline was less severe than Tuesday’s drop, it marked the second straight day of losses.

The recent correction has erased nearly all of the gains made during last week’s rally, leaving prices only marginally above where they stood 10 days ago. Buyers may welcome the softer rates, while investors are likely to keep a close eye on global bullion trends for the market’s next direction.

Source: 

• Good returns | Gold prices updated for July 29, 2026.