What Is the Old Gold Rate in Mumbai?

The old gold rate in Mumbai — the rate applied when you sell used or recycled jewellery — is always slightly lower than the buying rate you see advertised by jewellers. This is because your gold must go through refining before it can be re-used, and that process has a cost. At AurumOne, all deductions are disclosed upfront. There are no surprise charges when you sit down for your evaluation.

Difference Between the Buying Rate and Selling Rate of Gold

The buying rate is the price a jeweller charges you when you purchase new gold jewellery — this includes making charges, GST, and the jeweller's margin. The selling rate (also called the buyback rate or old gold rate) is what you receive when you sell your gold back. The selling price of gold today in Mumbai is typically 2–6% below the MCX spot rate depending on the purity and condition of the gold.

AurumOne offers one of the most competitive selling rates in Mumbai because we operate with low overhead, no middlemen, and pass the savings directly to you. Our rate is calculated using live MCX data updated every few minutes during market hours.

22 Carat Gold Selling Rate in Mumbai — How It Differs from 24K

22 carat gold (also written 22K or 916) contains 91.67% pure gold. When calculating the selling price, we apply the 24K rate to only that fraction of the metal — the remaining 8.33% is alloy (copper, silver or zinc) and has a much lower value. This is why the 22 carat gold selling rate in Mumbai is approximately 91.67% of the 24 carat gold selling rate in Mumbai. For example, if the 24K rate is ₹7,500 per gram, the effective rate for 22K gold is approximately ₹6,875 per gram before deductions.

Why AurumOne Offers Transparent Selling Rates

Most gold buyers in Mumbai do not publish their actual selling rates or explain how they arrive at a price. This leads to sellers accepting offers without knowing whether they are fair. AurumOne was built to solve this exact problem. We display our rates publicly, explain every deduction line by line during the evaluation, and give you the right to decline the offer at any point with no obligation.

Our doorstep service brings the evaluation to your home anywhere in Mumbai, Thane or Navi Mumbai. Our branch at Mira Road offers a walk-in experience where you can watch the entire XRF purity test and weight measurement process in real time.