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 Feb Rate Rs. 73000.00/- per Kg
Lowest Feb 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 Feb Rate Rs. 73000.00/- per Kg
Lowest Feb 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 Feb Rate Rs. 73000.00/- per Kg
Lowest Feb 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 Feb Rate Rs. 73000.00/- per Kg
Lowest Feb 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 Feb Rate Rs. 73000.00/- per Kg
Lowest Feb 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 Feb Rate Rs. 73000.00/- per Kg
Lowest Feb Rate Rs. 67300.00/- per Kg
Overall Performance Decline
Percentage Change 9.23 %

Silver Price in Mumbai

Silver Rate 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 SilverPhysical 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.

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