Silver Rate In Mumbai Today
Mumbai is one of the leading patrons of silver in the country. The silver industry in Mumbai is thriving, with growing demand for silver not only for ornamental purposes but also to make use of fashion and art. The rate of silver in Mumbai is impacted by multiple factors and is quite dynamic in nature.
| 1 Gram | 10 Gram | 100 Gram | 1 Kg | Change(%) | |
| YESTERDAY | 67.4 | 674 | 6740 | 67400 | 0 % |
| TODAY | 66.9 | 669 | 6690 | 66900 | 0 % |
Silver Rate in Mumbai for Last 10 Days
| Date | SILVER (IN GM) 1 GRAM 10 GRAM |
SILVER (IN KG) 1 KG 10 KG |
||
| 11 March 2021 | Rs. 67.40 | Rs. 674 | Rs. 64000.00 | Rs. 640000 |
| 10 March 2021 | Rs. 67.00 | Rs. 670 | Rs. 67000.00 | Rs. 670000 |
| 9 March 2021 | Rs. 66.70 | Rs. 667 | Rs. 66700.00 | Rs. 667000 |
| 08 March 2021 | Rs. 66.50 | Rs. 665 | Rs. 66500.00 | Rs. 665000 |
| 07 March 2021 | Rs. 65.70 | Rs. 657 | Rs. 65700.00 | Rs. 657000 |
| 06 March 2021 | Rs. 65.70 | Rs. 657 | Rs. 65700.00 | Rs. 657000 |
| 05 March 2021 | Rs. 65.42 | Rs. 654.2 | Rs. 65420.00 | Rs. 654200 |
| 04 March 2021 | Rs. 66.20 | Rs. 662 | Rs. 66200.00 | Rs. 662000 |
| 03 March 2021 | Rs. 67.90 | Rs. 667 | Rs. 66700.00 | Rs. 667000 |
| 02 March 2021 | Rs. 66.60 | Rs. 666 | Rs. 66600.00 | Rs. 666000 |
Historical Price of Silver Rate in Mumbai
The trend of Silver Rate in Mumbai for February 2021 (rates per kg)
| Highest Rate | Rs. 73000.00/- per Kg |
| Lowest Rate | Rs. 67300.00/- per Kg |
| Overall Performance | Decline |
| Percentage Change | 7.53 % |
The trend of Silver Rate in Mumbai for January 2021 (rates per kg)
| Highest Rate | Rs. 73000.00/- per Kg |
| Lowest Rate | Rs. 67300.00/- per Kg |
| Overall Performance | Decline |
| Percentage Change | -2.50 % |
The trend of Silver Rate in Mumbai for December 2020 (rates per kg)
| Highest Rate | Rs. 73000.00/- per Kg |
| Lowest Rate | Rs. 67300.00/- per Kg |
| Overall Performance | Decline |
| Percentage Change | -13.62 % |
Trend of Silver Rate in Mumbai for November 2020 (rates per kg)
| Highest Rate | Rs. 73000.00/- per Kg |
| Lowest Rate | Rs. 67300.00/- per Kg |
| Overall Performance | Decline |
| Percentage Change | 1.66 % |
Trend of Silver Rate in Mumbai for October 2020 (rates per kg)
| Highest Rate | Rs. 73000.00/- per Kg |
| Lowest Rate | Rs. 67300.00/- per Kg |
| Overall Performance | Decline |
| Percentage Change | -0.49 % |
Trend of Silver Rate in Mumbai for September 2020 (rates per kg)
| Highest Rate | Rs. 73000.00/- per Kg |
| Lowest Rate | Rs. 67300.00/- per Kg |
| Overall Performance | Decline |
| Percentage Change | 9.23 % |
Silver Price in Mumbai
Mumbai stands among the highest consumers of silver in India. Silver shines brightly in the financial capital of the country. The versatile population of the city and its various outlets for selling silver have impacted the silver rate in Mumbai. Silver and Mumbai have a history starting from when a maximum of trade was happening in silver and gold in old times. The silver industry of the financial capital of India stands proudly by being among the top players in India. While many of the local jewelers and traders offer different choices for purchasing silver, silver bullions are very famous in the Gateway of India.
What Makes the Demand for Silver in Mumbai?
In order to answer this, one must look in-depth into the city’s life rather than simply disregarding the silver rate in Mumbai. The city is filled with outlets of every possible kind that trades this metal. The history regarding the price of silver in Mumbai thus travels many years in the past with the port city transacting majorly on the metal. The present-day price of silver in Mumbai is decided upon by the usage of the metal in different types of silverware, jewelry, and ornaments.
Why is Silver a Good Option to invest?
Silver is regarded as a secure investment in times of uncertainty. Silver is cheaper than gold and is more thinly traded, thus making it more volatile and illiquid. Silver is used as an industrial metal in many fields. The silver price in Mumbai keeps on increasing in the graphs which depict that silver has found a position of its own.
Silver as an Investment in Mumbai
The silver metal is seen as a protection against inflation. Silver can provide a good resale value and also has a wide trading market during a crisis. Silver could be bought in physical form or as contracts on national exchanges. Almost every investor keeps a tab on the price of silver to decide upon an investment strategy.
Some famous ways of investing in silver in Mumbai are
- Physical Silver – Physical silver can be purchased in bullions, bars & ingots from top silver dealers in Mumbai.
- Silver Contracts – You can purchase silver contracts from 2 exchanges- MCX & NCDEX.
Things to Remember Before Buying Silver Jewellery in Mumbai
Purity of silver
Just like gold, silver is also hallmarked. Hallmarking of silver articles assures valid proof of the purity of silver articles. Always remember that to give strength to silver jewelry or utensils, other metals mixed to it.
Making charges
While buying silver jewelry, one should enquire the jeweler about the price of silver in the market at present and make changes in the price quoted by the seller for the article which is to be bought.
Check for the buy-back policy
When selling old silver jewelry to buy a new one, ask the jeweler about the buy-back policy.
Gemstones on silver jewelry
Always make sure that the jeweler doesn’t include the weight of gemstones in the price of silver.
German silver
In recent times, one can also buy something called German silver. But do not confuse German silver with sterling silver or even silver. German silver is any metal such as copper or brass which has silver polish.
Also, check the Gold price in Mumbai.
Historical Silver Rate in Mumbai
| Months | Lowest Price 999 Silver – ₹ Per Kg. | Highest Price 999 Silver – ₹ Per Kg. |
|---|---|---|
| December 2020 | 59,000 | 70,700 |
| November 2020 | 59,100 | 65,410 |
| October 2020 | 60,200 | 63,800 |
| September 2020 | 57,000 | 69,500 |
| August 2020 | 65,000 | 76,510 |
| July 2020 | 48,510 | 66,050 |
| June 2020 | 47,100 | 50,160 |
| May 2020 | 41,000 | 50,110 |
| April 2020 | 39,940 | 42,700 |
| March 2020 | 39,480 | 51,080 |
| February 2020 | 48,000 | 51,500 |
| January 2020 | 48,900 | 51,000 |
Movement of Silver Rate in Mumbai
Silver rates in Mumbai have been unimaginative for the past few years. Silver rates have gone up since 2008 and tend to remain the same. Yet in the previous years, it has gone nowhere. But in 2018, gold and silver prices in Mumbai saw some recovery as investors sold shares and purchased gold and silver.
Also, check the silver prices in other cities.
FAQs
✅ Is silver investment good?
When compared to all the precious metals, silver tends to be the most affordable and preferred choice for ornaments and bullion investment by many people.
✅ Can I buy silver at the bank?
Silver bars can be purchased from major banks as well as bullion dealers. You can buy them when you can and liquidate them later when you need to.
✅ How to buy cheap silver?
Rounds and bars are usually available at the lowest premiums. Hence they are the best option for buying most silver content for your money.