Wondering what the gold rate in Mumbai is at present? Average price of gold has been seeing a steady change over the years in Mumbai. In the year 2000-2001 the standard price for 10g is Rs.4474, in comparison to the December 2010 rate.
Investors in Mumbai often wonder whether or not it is worthwhile investing in gold at the prices it is currently available at. If the current price is seen, it is easy to note that the gold price has stayed at a four week high in Mumbai. Gold traders have traded gold at Rs.29829 for 10g.
Higher Rates in the Wedding Season
There are a number of festivals celebrated in Mumbai like in different parts of the country and it is the effort of most jewelers to stock up as much gold as possible considering the highest gold rate in Mumbai reached in the last four weeks. During the year, the level of gold imports has seen a decline and consumption is threatened further due to the wedding monsoon plans.
During the wedding season, which will start by August, a lot of gold purchases are expected in Mumbai as in the case each year. The festival season continues till November once it starts in August. Gold prices online casino have gone beyond Rs.30000 in Mumbai and subsequently, the demand for gold has become slower due to this.
Correction in the Euro May Affect Positively
Investment gurus state that if in case there is a correction in the Euro then some fall is expected in the current gold rate in Mumbai, to the extent of Rs.29500 which provides a great opportunity for Mumbai residents to buy gold. One of the major concerns for the jewelers in Mumbai is that the monsoons are weaker and a cause of concern for farmers who purchase a lot of gold.
If the farm economy gets affected, the price and demand of gold also gets affected and in turn the jewelers in Mumbai are hit. One of the best places to determine gold rates in Mumbai is to look up the internet. You can enjoy access to a number of banks and other financial institutions offering gold bars and gold coins for an exclusive gold rate in Mumbai.