Platinum Rate Today in Mumbai, Pt950 and Pt900 Live Prices – 7 Nov 2026, 12 AM IST

• Today's platinum rate
• PGI certification and Pt950 purity
• Making charges and GST
• Where to buy platinum in Mumbai

The figures in the live table are reference rates for Pt 950 and Pt 900 platinum in Mumbai, refreshed every business day against international bullion benchmarks and the prevailing rupee exchange rate. Every figure is the metal value alone, before making charges and GST.

As India's financial capital and the country's largest jewellery trading hub, Mumbai genuinely sees the highest platinum demand of any Indian city, anchored by South Mumbai's Zaveri Bazaar and Kalbadevi markets. This page covers today's rate, PGI certification and Pt950 purity, making charges and GST with a worked example, where to buy and sell in Mumbai, the city's platinum buying calendar, taxation and a detailed FAQ.

The weight table converts today's per gram rate into the denominations Mumbai buyers transact in, from a single gram through 10 grams and 100 grams, for both Pt 950 and Pt 900 purity.

Since platinum is sold in Mumbai almost entirely as finished jewellery rather than bullion, most buyers work with piece weights in the 3 to 15 gram range for rings and bands, rather than round weight denominations.

A single day's rate tells you very little on its own. The last ten trading sessions show whether today's print sits at the top of a run, the bottom of a pullback, or somewhere in the middle of a flat stretch.

Platinum's international price is set by a smaller, more concentrated global market than gold or silver, so short term moves can be sharper and less predictable than the gold rate Mumbai buyers are more used to tracking.

The trend table sets today's rate against its opening and closing values over seven days, 30 days and 12 months. Platinum's price is shaped heavily by global automotive demand for catalytic converters and mine supply out of South Africa and Russia, alongside jewellery demand.

Platinum has traded below 24 karat gold on a per gram basis for much of the last decade, a genuine reversal from most of the twentieth century when platinum commanded a premium over gold. Mumbai jewellers use this table mainly to set showroom pricing rather than to inform any investment call.

Platinum trades internationally in US dollars per troy ounce on a global market considerably smaller than gold or silver. This rate converts at the prevailing USD to INR exchange rate and picks up customs duty and GST before reaching Indian retail.

Mumbai's Zaveri Bazaar and Kalbadevi markets, together handling the large majority of India's precious metal wholesale trade, set the effective retail benchmark that jewellers across the city and much of western India price against each morning.

Global automotive demand, mine supply out of South Africa and Russia, and investment flows move the international platinum price. The rupee's exchange rate and Indian import duty changes move the local price on top of that.

In Mumbai specifically, engagement season and the run up to major weddings bring a genuine, if modest, seasonal uplift in platinum ring buying, concentrated in South Mumbai's jewellery clusters.

Pt 950 platinum, 95 percent pure, is by far the standard purity for platinum jewellery sold in Mumbai and across India, including the large majority of engagement rings and wedding bands from established brands.

Pt 900, 90 percent pure, appears occasionally, mainly in men's heavier pieces, but is far less common in Mumbai showrooms. Always confirm which purity a quoted rate refers to before comparing prices between jewellers.

India's mandatory BIS hallmarking regime currently covers gold, mandatory since June 2021, and silver, mandatory since September 2025. Platinum has not been brought under this scheme and remains a considerably smaller retail category nationally.

In place of a BIS hallmark, platinum jewellery carries a Pt 950 or Pt 900 purity stamp backed by a Certificate of Authenticity from the Platinum Guild International, the global body that has promoted platinum jewellery in India for over two decades. Mumbai jewellers affiliated with PGI display this certification prominently, and it remains the closest equivalent to a hallmark available for this metal.

• Look for the Pt 950 or Pt 900 purity stamp engraved inside the band or on the piece
• Ask for a PGI Certificate of Authenticity carrying a verifiable serial number
• Buy from an established, PGI affiliated jeweller in Zaveri Bazaar or a recognised Mumbai showroom rather than an unregistered seller

Given the absence of mandatory third party BIS verification for platinum, this certificate and stamp combination is the primary purity assurance available to buyers in Mumbai.

The rate shown on this page is the metal value alone. What you pay at the counter adds a making charge, then GST, which applies as two separate components under Indian tax rules: 3 percent GST on the metal value, plus 5 percent GST on the making charge when it is itemised separately on the invoice, which is how most established Mumbai jewellers bill.

What making charges typically run in Mumbai

• Simple platinum bands | roughly 15 to 25 percent, reflecting platinum's density and the skill required to work it
• Diamond set engagement rings | roughly 20 to 35 percent, plus the diamond value billed separately

A worked example on a 6 gram Pt 950 band at 20 percent making: the metal value gets 3 percent GST, the making charge gets 5 percent GST added on top of itself, and the two are then summed for the final bill, so the total runs meaningfully above a flat 3 percent calculation on the combined figure.

Zaveri Bazaar in Bhuleshwar, South Mumbai, is India's largest jewellery trading hub, home to thousands of shops and estimated to originate a majority of the country's precious metal trade. Platinum specifically is concentrated in a smaller number of established showrooms within this cluster, alongside Kalbadevi nearby, known locally for wholesale platinum pricing a few rupees per gram below Zaveri Bazaar's retail rates.

What to check wherever you buy

• The Pt 950 or Pt 900 purity stamp on the piece
• A PGI Certificate of Authenticity with a verifiable serial number
• A proper GST invoice itemising weight, purity, rate and making charge separately

Resale infrastructure for platinum in India is genuinely thinner than for gold, since far fewer buyers exist for it. Approach the original retailer first, whether in Zaveri Bazaar or elsewhere in Mumbai, and retain your PGI certificate and invoice, since these materially support the resale conversation.

Given Mumbai's scale as India's largest jewellery market, buyers here have a genuinely better chance of finding a platinum buyback route than in most other Indian cities, but terms still vary meaningfully by jeweller.

Platinum's buying pattern in Mumbai, as across India, is milestone driven, centred on engagements and weddings rather than the Diwali and Akshaya Tritiya calendar that dominates gold buying.

• Wedding and engagement season, broadly November through February, the strongest platinum buying window
• Valentine's Day, a genuine minor peak for platinum rings among younger urban couples
• Anniversaries and milestone gifting, spread through the year rather than concentrated

Taxes on platinum are set nationally, so nothing here is specific to Mumbai.

At purchase, GST applies in two parts: 3 percent on the metal value, and 5 percent on making charges when itemised separately on the invoice. At sale, profit on platinum held over 12 months is generally treated as a long term capital gain at 12.5 percent without indexation; shorter holdings are taxed at your income slab rate. Large cash purchases require PAN above the prescribed threshold.

None of this is tax advice. For a significant transaction, confirm current rules with a chartered accountant.

There is no prescribed CBDT safe harbour limit for platinum jewellery the way there is for gold. As with any valuable asset, holdings should be supportable through invoices and disclosed income if ever questioned during a tax search.

Cash payments above the prescribed threshold require your PAN card, and payments above two lakh rupees in cash for a single transaction are not permitted regardless of PAN, the same rule that applies to gold and silver purchases anywhere in India.

Since platinum is treated as a physical asset similar to jewellery, profit on resale held over 12 months would generally qualify for long term capital gains treatment at 12.5 percent without indexation, under rules applicable for financial year 2025 to 2026.

Your gain is calculated as the sale price minus your original purchase cost, including making charges, which is why keeping your original Mumbai jeweller's invoice matters. Given how rarely platinum is resold purely for investment purposes, this scenario is far less common in practice than for gold.

Platinum entering the Indian jewellery trade arrives mostly as semi finished components supplied to manufacturers, then worked into finished rings and bands, with a meaningful share reaching Mumbai directly given the city's position as India's principal port and bullion import hub.

Globally, platinum's demand story is dominated by automotive catalytic converters rather than jewellery, a genuine contrast with gold, though Mumbai's own retail platinum trade is driven almost entirely by jewellery rather than any industrial use within the city.

Zaveri Bazaar, located in Bhuleshwar in South Mumbai just north of Crawford Market, is genuinely one of India's oldest and largest jewellery markets, a dense cluster of narrow lanes housing thousands of shops, some over a century old.

While the market's historic reputation rests overwhelmingly on gold, its established jewellers have expanded into platinum retail over the past two decades as national demand for the metal has grown, particularly for engagement rings and men's jewellery.

The Platinum Guild International launched a dedicated campaign to promote platinum jewellery in India, initially centred on a small number of major cities including Mumbai, using Bollywood personalities to build glamour around a metal previously seen as a niche, Western choice.

This campaign genuinely reshaped demand here, drawing in younger buyers, particularly women aged 18 to 35, and pushing established Mumbai jewellers who had built their reputation on gold to add dedicated platinum counters.

Platinum is denser than gold, naturally white without rhodium plating, and hypoallergenic, qualities that have driven its popularity for engagement rings nationally. Mumbai's affluent, cosmopolitan buyer base has embraced this trend more visibly than most Indian cities.

Gold nonetheless remains the overwhelming default for Mumbai's Gujarati, Marwari and Maharashtrian wedding traditions, given its deep ceremonial role, while platinum has carved out a genuine, growing niche around modern engagement and couple rings.

White gold is yellow gold alloyed with white metals and plated with rhodium, which wears off over time and needs periodic replating, a maintenance cost many Mumbai buyers are not initially told about. Platinum is naturally white throughout, needing no plating.

Platinum is also denser than gold, so a platinum ring of the same visual size genuinely contains more metal by weight, part of why total price can exceed a comparable gold design even before making charges.

Platinum is significantly denser than gold and silver, meaning a platinum piece of identical size contains more metal by weight. It is more resistant to everyday wear than gold and does not tarnish like silver, while remaining naturally white.

These physical properties, rather than investment characteristics, are the primary reasons Mumbai buyers who specifically seek out platinum choose it over the city's dominant gold and silver categories.

Platinum, as across India, is bought almost entirely for its jewellery value rather than as a savings instrument. There is no culture of buying platinum coins or bars in Mumbai the way there is for gold, and no dedicated platinum ETF product for Indian retail investors.

The practical framing for a Mumbai buyer is to treat platinum as a jewellery and lifestyle decision, chosen for durability and appearance, not as a store of value comparable to the gold that dominates the city's investment culture.

Platinum mine supply is far more geographically concentrated than gold or silver, with South Africa and Russia together accounting for the large majority of global production, making the price genuinely more sensitive to mining disruptions in these two countries than gold typically is.

For Mumbai's jewellery buyers, none of this changes the practical advice, since platinum here is a jewellery decision, not a timing dependent investment the way gold sometimes is treated.

Platinum's strength and density make it a genuinely secure setting metal for diamonds, since prongs hold their shape and grip better over decades of wear compared with softer metals, an important factor for a piece meant to last a lifetime.

This is the primary reason Mumbai's platinum category skews so heavily toward diamond set engagement rings rather than plain bands or other jewellery types, a pattern consistent with national demand data.

Platinum bands, chains and bracelets marketed specifically toward men have been a consistent part of national platinum brand strategy for over a decade, and Mumbai's cosmopolitan, higher income buyer base has been a genuinely strong market for this category.

PGI's own promotional campaigns, running in India for more than twenty years and centred initially on major metros including Mumbai, deliberately broadened platinum's customer base beyond women's engagement rings into men's everyday jewellery.

Clean platinum jewellery with warm water, mild soap and a soft brush. Unlike gold, minor surface scratches on platinum do not remove metal, since the metal simply displaces rather than wearing away, making it genuinely durable for everyday wear.

Platinum develops a soft patina with wear that some owners prefer for its understated look, while others have it professionally repolished at the retailer who sold it, a service most established Mumbai jewellers offer.

• Pt 950: platinum that is 95 percent pure, the standard for most Indian platinum jewellery
• Pt 900: platinum that is 90 percent pure, less common
• PGI: the Platinum Guild International, the body that certifies platinum jewellery purity in India
• Certificate of Authenticity: the PGI document confirming a piece's purity and serial number
• Making charges: the fee a jeweller adds for crafting a piece, separate from the metal value

Engagement rings remain platinum's strongest use case wherever it is sold in India, and Mumbai's younger, urban buyers have embraced this trend more visibly than most cities, with diamond set platinum solitaires now a standard offering across the city's major showrooms.

This category has grown steadily alongside Mumbai's broader lab grown diamond adoption, since buyers choosing a modern stone often pair it with platinum's contemporary, naturally white setting rather than traditional yellow gold.

In store buying in Zaveri Bazaar or a mall showroom lets you see and try on a piece before committing, and Mumbai's scale means the in person selection here is genuinely wider than almost anywhere else in India.

Online buying from an established, PGI certified national brand offers an even wider range of designs, sizes and price points, delivered directly, and remains a genuinely practical option for Mumbai buyers who know their design or ring size already.

If you are in Mumbai and considering a platinum engagement ring or lab grown diamond jewellery purchase, Lucira offers PGI certified platinum and certified lab grown diamond pieces with transparent, itemised pricing and doorstep delivery, alongside experience centres in the city where you can view and try on pieces in person.

Every Lucira piece is priced against the live daily rate shown on this page, with making charges and certification costs shown separately.

National platinum jewellery demand has grown steadily since PGI's campaigns began reshaping perceptions of the metal, driven mainly by engagement ring trends among younger buyers, and Mumbai, as one of the campaign's original focus cities, has been at the front of this shift.

Even so, gold remains overwhelmingly dominant in Mumbai's total jewellery spend, given its deep ceremonial and wedding role across the city's Gujarati, Marwari and Maharashtrian communities, so platinum is likely to remain a smaller, growing niche rather than approach gold's scale.

Unlike gold, jewellers in Mumbai do not typically run dedicated monthly instalment savings schemes for platinum, given how much smaller and more specific the category's demand is compared with the deep, decades old gold savings scheme culture in the city.

Buyers here planning a platinum purchase, such as an engagement ring, generally save independently and pay the full amount at purchase, rather than through a jeweller run scheme.

• A Zaveri Bazaar or Kalbadevi jeweller: the widest in person selection anywhere in India, with wholesale pricing available at Kalbadevi
• A mall or standalone showroom elsewhere in Mumbai: convenient, fixed pricing, slightly higher overheads
• An established national online brand: the widest overall design range, delivered to your door

Given Mumbai's scale, buyers here have genuinely more choice across all three routes than almost anywhere else in India.

India's mandatory hallmarking regime, run by the Bureau of Indian Standards, has expanded twice: to gold jewellery from June 2021, and to silver jewellery from September 2025. Platinum has not been added to this scheme, since its national trading volume remains a small fraction of gold's.

Until platinum is brought under BIS hallmarking, the PGI Certificate of Authenticity remains the primary purity assurance available to Mumbai buyers, making it genuinely important to insist on one at the point of purchase.

A proper invoice from a Mumbai jeweller should show the net platinum weight in grams, the purity as Pt 950 or Pt 900, the rate applied per gram that day, the making charge as its own line, GST at 3 percent on the metal value, and GST at 5 percent on the making charge shown separately.

For diamond set rings, the invoice should separately state the diamond value and certification alongside the platinum weight and rate. Keep the PGI Certificate of Authenticity together with your invoice.

• No PGI certificate offered with the piece, which should prompt caution given the absence of mandatory BIS hallmarking for platinum
• White gold sold or represented as platinum, a confusion worth double checking given how visually similar the two can look
• Making charges quoted verbally but not itemised separately on the final GST invoice, which affects how much GST you are correctly charged

Buying from an established, PGI affiliated retailer in Zaveri Bazaar or a recognised Mumbai showroom is the most reliable way to avoid these issues.

Platinum does not tarnish and is more scratch resistant in terms of actual metal loss than gold, though it develops a soft patina with wear that some owners prefer, while others have it professionally repolished.

A bank locker remains the most secure storage option for higher value pieces in Mumbai, widely available across the city's banks. Keep your original purchase invoice and PGI certificate together with your stored platinum, since they establish purity, weight and cost basis if you need to sell or claim insurance later.

Established local jewellers, many concentrated in Zaveri Bazaar and some with histories stretching back over a century, sit alongside national chains and standalone platinum focused showrooms across Mumbai's malls and high streets, giving buyers genuine choice.

This mix, unusual in its depth even by Indian standards, is a direct result of Mumbai's role as the country's largest jewellery trading centre.

Platinum resale terms vary meaningfully by retailer, since far fewer buyers exist for it than for gold, and Mumbai jewellers do not follow a single standardised deduction the way many do for gold exchange.

Ask your Mumbai jeweller for their exact exchange or buyback policy before purchase, ideally in writing, since this varies far more for platinum than it does for gold or silver in the city.

Platinum occupies a genuinely small but steadily growing position within Mumbai's jewellery economy, dwarfed by gold's cultural centrality but supported by the city's affluent, cosmopolitan buyer base and its status as an original PGI campaign focus city.

As India's financial and jewellery trading capital, Mumbai remains the single most important city nationally for platinum's continued growth, even though the category stays modest relative to the city's overall gold and diamond trade.

Beyond South Mumbai's Zaveri Bazaar and Kalbadevi, established showrooms carrying platinum are spread across the city's major suburbs and malls, from Andheri and Bandra to Borivali and Chembur, reflecting Mumbai's genuinely citywide jewellery retail footprint.

For a specific design or ring size, comparing making charges across at least two or three showrooms remains a reasonable and common practice among Mumbai buyers before committing to a purchase.

If you are comparing metals, check the gold and silver rates for Mumbai as well.

• Gold rate today in Mumbai
• Silver rate today in Mumbai