Gold Rate in Mumbai Today, July 8, 2026: 24K Gold Falls to ₹14,449 Per Gram

Mumbai, July 8: Gold prices in Mumbai slipped again on Wednesday, extending the pullback that began after last week’s sharp rise. The latest retail rate for 24-karat gold stands at ₹14,449 per gram, down ₹77 from the previous session.

22-karat gold is now priced at ₹13,245 per gram, lower by ₹70, while 18-karat gold fell ₹57 to ₹10,837 per gram. The fall is smaller than Tuesday’s decline, but it keeps the short-term trend tilted lower after gold touched its July high on July 3.

Mumbai Gold Rates Today

Prices Ease for Third Straight Session

Mumbai’s gold market has cooled after a quick rally in the first week of July. The strongest move came on July 3, when 24K gold climbed to ₹14,700 per gram and 22K gold touched ₹13,475 per gram. Since then, the market has moved the other way.

The decline has not fully erased July’s gains. On July 1, 24K gold was priced at ₹14,078 per gram. Even after Wednesday’s fall, it remains ₹371 per gram higher than the start of the month. For 22K gold, the rate is still ₹340 per gram above the July 1 level of ₹12,905.

Today Gold Price Per Gram in Mumbai

Estimated Cost of Buying 10 Grams of 22K Gold

Using the current 22K gold rate and assuming 12% making charges along with 3% GST, the estimated purchase cost works out as follows:

The calculation is indicative. Jewellery bills can vary depending on making charges, design, wastage, retailer policy and other applicable costs.

Mumbai Gold Price Trend

The last 10 days show how quickly gold prices moved in both directions. After falling on July 1, prices jumped sharply on July 2 and July 3, taking 24K gold to its monthly high of ₹14,700 per gram. The market then paused on July 5 before slipping across July 6, July 7 and July 8.

For July so far, the broader movement still remains positive. The historical data shows 24K gold up 2.64% for the month, while 22K gold has risen 2.63%. The highest rates were recorded on July 3, and the lowest rates were seen on July 1.

Investors who track gold beyond jewellery purchases may also compare physical gold with exchange-traded options. For reference, you can check the list of Gold ETF in India.

What Drives Gold Prices?

Gold rates in Mumbai are shaped by several moving parts: international bullion prices, rupee-dollar movement, import costs, domestic jewellery demand and wider global market sentiment.

Local pricing can also vary slightly from one jeweller to another. The metal rate may be the same on paper, but making charges and billing practices often decide the final amount a buyer pays.

Conclusion

Gold prices in Mumbai declined on July 8, with 24K, 22K and 18K rates all moving lower from Tuesday’s levels. The fall marks another soft session after the July 3 peak, though prices are still higher than where they began the month. For jewellery buyers, the dip may offer some relief, but the final cost will depend heavily on making charges and taxes.

Source: goodreturns.in | Rates as of Wednesday, July 8, 2026.