Gold Prices in Mumbai Decline on August 4, 24K Gold Down ₹22 per Gram

Gold prices in Mumbai declined on August 4, marking a drop across all major purity categories. The decline was relatively small, but it managed to push prices below Monday's levels. According to HDFC Sky, 24K gold fell by ₹22 per gram, while 22K gold dropped by ₹20 and 18K gold eased by ₹16.

The current rates in Mumbai are as follows: 24K gold is priced at ₹14,400 per gram, 22K gold at ₹13,200, and 18K gold at ₹10,800. The drop comes after prices held steady over the weekend, indicating fresh pressure on domestic bullion rates.

Experts attribute the decline to traders booking profits as global bullion prices remain volatile. Despite the recent gains, gold prices appear to be moving within a relatively narrow range, waiting for fresh triggers. Buyers and investors will be closely watching global bullion prices and currency movements for the market's next direction.