Today Silver Rate in Mumbai Last Updated : 08 Dec 2022

Mumbai is among the largest consumers of silver in India. The metal has a special shine in the commercial capital of India, with its upwardly mobile population and multitude of outlets selling silver.

Mumbai has for long been one of the most important port cities in India, and trade has flourished in the city since centuries. As such, silver has a history with the city, as most of the dealings in the olden times were done primarily in silver and gold.Silver Rates in Mumbai are affected by a range of factors and are quite dynamic in nature.

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  • Today's Silver Rate in Mumbai (08 Dec 2022)

    ₹ 71
    Today's Silver Rate per gram

    Compare Silver Rate In Mumbai (Today & Yesterday)

    Today
    Yesterday
    Rate Change
    Silver (1 gram) ₹ 71 ₹ 70.8 ₹ 0.2 ↑
    Bar Silver (1 Kg) ₹ 71,000 ₹ 70,800 ₹ 200 ↑

    Silver Price In Mumbai For Last 10 Days

    Date Silver (1 gram) Bar Silver (1 Kg)
    07 Dec 2022 ₹ 71 ₹ 71,000
    06 Dec 2022 ₹ 70.8 ₹ 70,800
    05 Dec 2022 ₹ 72.5 ₹ 72,500
    04 Dec 2022 ₹ 71.6 ₹ 71,600
    03 Dec 2022 ₹ 71.6 ₹ 71,600
    02 Dec 2022 ₹ 70.5 ₹ 70,500
    01 Dec 2022 ₹ 69.8 ₹ 69,800
    30 Nov 2022 ₹ 68 ₹ 68,000
    29 Nov 2022 ₹ 68 ₹ 68,000
    28 Nov 2022 ₹ 67.5 ₹ 67,500

    Weekly & Monthly Graph of Silver Rate in Mumbai

    • 7 Days
    • 30 Days
    • 3 Months
    • 6 Months

    *Disclaimer: Bankbazaar makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are susceptible to change with Market value and provided on an as-is basis. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. We accept no liability for any loss arising from the use of the data contained on this website.

    Today's Silver Rate in Mumbai

    Silver Price in Mumbai

    Silver in the physical form is most popular as silverware, jewelry and ornaments, though the city has adopted the precious metal as a form of style and art also. The silver industry in Mumbai boasts of some of the largest players in the country, apart from various local dealers and stores that expand your options to buy the metal from. Silver bullions are also popular in Mumbai, as these offer pure silver at cheaper rates than silver products that have been worked on such as jewelry, artefacts etc.

    Know - Today Gold Rate in Mumbai

    Historical Trend of Silver Price in Mumbai

    Months Lowest Silver Price Per Kg Highest Silver Price Per Kg
    November 2022 64,200 65,500
    October 2022 65,400 68,300
    September 2022 65,300 68,500
    August 022 65,200 68,600
    July 2022 65,300 68,550
    June 2022 65,200 68,500
    May 2022 63,400 69,500
    April 2022 68,800 75,200
    March 2022 70,000 77,600
    February 2022 64,900 70,600
    January 2022 64,300 69,300
    December 2021 64,600 66,300
    November 2021 66,500 71,700
    October 2021 63,700 70,300
    September 2021 63,000 69,600
    August 2021 66,600 73,100
    July 2021 71,400 75,000

    Trend of Silver Rate in Mumbai for December 2022 (rates per kg)

    Parameters Silver price (per kg)
    December 1 Rate Rs.69,800 per kg
    December 6 Rate Rs.70,800 per kg
    Highest Rate in December Rs.72,500 per kg on 5 December
    Lowest Rate in December Rs.69,800 per kg on 1 December
    Overall Performance Incline

    Trend of Silver Rate in Mumbai for November 2022 (rates per kg)

    Parameters Silver price (per kg)
    November 1 Rate Rs.63,700 per kg
    November 30 Rate Rs.68,000 per kg
    Highest Rate in November Rs.68,500 per kg on 15 November
    Lowest Rate in November Rs.63,700 per kg on 1 November
    Overall Performance Decline

    Trend of Silver Rate in Mumbai for October 2022 (rates per kg)

    Parameters Silver price (per kg)
    October 1 Rate Rs.62,000 per kg
    October 31 Rate Rs.63,000 per kg
    Highest Rate in October Rs.67,000 per kg on 5 October
    Lowest Rate in October Rs.60,500 per kg on 15 and 16 October
    Overall Performance Decline

    Also Check Silver Price in NearBy Cities of Mumbai

    Silver as an Investment in Mumbai

    Silver is considered to be a good option to hedge against inflation. Even in times of crisis, precious metals such as silver tend to have good resale value, and a decently large market to sell in. Silver is available both in physical form and as contracts on national exchanges. Silver can be bought and sold in the market any time you wish to, however when buying and selling products such as artefacts and ornaments, you should know that the resale value will be lower than the purchase value due to workmanship done on the silver before.

    Physical silver: Physical silver is available in bullions including bars and ingots from the major dealers in the city. A point to note here is that bullions are generally available in larger quantities, and as such you should only buy from established players as they offer a certain security and guarantee of the quality of silver. Silver coins also form an integral part of silver purchases in Mumbai, with the smaller coins being easy to buy and sell. Coins are mostly available from private dealers and banks. Banks sell silver coins at a premium over market rates, with guarantee on the quality and quantity. Silver products such as jewelry, idols, silverware, glasses, and others are also popular in Mumbai, and can be purchased from the hundreds of stores spread throughout the city.

    Silver contracts: Silver contracts can be purchased from one of the two exchanges namely MCX and NCDEX. These contracts are available for a few months in a year and offer silver in both bulk and small quantities (base weight is generally 1 kg). Silver contracts are not available as spot contracts, meaning that purchased silver will not be delivered right away.

    FAQs on Silver Rate in Mumbai

    1. What are the factors that determine the silver rate in Mumbai today?
    2. The silver rate today in Mumbai is influenced by many different factors such as the value of the dollar, crude oil prices, current political and economic events, government policies on gold or on import and export, as well as the prices of commodities and sales by central banks.

    3. Will today’s silver price in Mumbai change?
    4. Today’s silver rate in Mumbai is likely change with the change of factors such as the price of crude oil, the dollar value, price of commodities, as well as any change in the economic or political scenario.

    5. How do I get the best silver rate in Mumbai?
    6. You can get the best silver price in Mumbai by comparing the prices of silver in the reliable and leading silver retailers or jewelers in the city.

    7. Does the silver price in Mumbai guarantee the best quality of silver?
    8. The best quality silver is likely to have a higher rate than silver of a lower quality.

    9. What is the best quality silver for the best silver rate in Mumbai?
    10. The best quality silver that you can buy at the current silver price in Mumbai is sterling silver. Sterling silver is made up of just 7.5% copper and other metals while 92.5% is pure silver. You can find out the quality by testing it with a magnet as the best quality silver will not stick to the magnet.

    News About Mumbai Silver Rate

    • Silver rates increase across major cities in India on 25 November

      In Kolkata, Mumbai, and Delhi, 1 kg of silver costs Rs.62,200. The price of silver in Hyderabad, Bengaluru, and Chennai is Rs.68,200.

      26 November 2022

    • Silver prices dropped by Rs.700 today on 17 November 2022

      The price of one kilogram of silver went down by Rs.700 today, 17 November. The cost of white metal stands at Rs.62,000 per kilogram in Delhi, Mumbai, and Kolkata. While in Bengaluru, Chennai, and Hyderabad, the price of one kilogram of silver is Rs.68,500.

      18 November 2022

    • Silver prices falls on 10 November 2022

      The cost of silver fell in some of the major Indian cities. The precious metal costs Rs.47,360 per kg in Mumbai and Kolkata while at Delhi, Lucknow, and Jaipur it was retailing at Rs.47,460 per kg.

      11 November 2022

    • Silver rates decline today on 8 November 2022

      The price of silver declined and is trading at Rs.60,850 per kg in Delhi, Pune, Mumbai, and Kolkata on Tuesday. A kg of silver is priced at Rs.66,700 in Chennai and Hyderabad.

      9 November 2022

    • Silver futures jumped by 0.23% on the Multi Commodity Exchange on 25 October 2022

      Silver recorded a hike of 0.23% on the Multi Commodity Exchange (MCX) today, 25 October. The cost of one kilogram of silver stands at Rs.57,880 after an increase of Rs.132.

      27 October 2022

    • Silver prices selling at Rs.60,700 for a kg on 29 August 2022 in Bengaluru

      The prices of silver in Bengaluru on 29 August 2022 are Rs.60,700 for a kg. Silver rates are the same in Chennai and Bengaluru. Silver prices in Delhi, Mumbai, Kolkata, Lucknow, Jaipur, Ahmedabad, Surat, and Patna are Rs.54,000 for a kg. When compared to 28 August 2022, silver prices dipped across the major cities in India in India on 29 August 2022.

      29 August 2022

    • Price of Silver on 24 August 2022

      On Wednesday, 24 August 2022, the price of silver dropped by Rs.300 to Rs.54,900 per kg. In Kolkata, Mumbai, and Delhi, one kilogram of silver was selling for Rs.54,900. In Chennai, Bengaluru, Hyderabad, and Kerala, silver is offered for sale for a price of Rs.60,700 per kilogram.

      24 August 2022

    • Silver metal reaches below Rs57,000

      In the spot market, silver metal is priced at Rs.58,153 per kg on Tuesday. The spot prices of silver has plunged more than 2,900 per kg in the same period under review.

      07 July 2022

    • Silver trades flat on 28 June 2022

      On Tuesday, Silver futures almost traded flat at Rs.60,500 per kg and gold was trading higher at Rs.50,726 per gram. Spot silver fell 0.4 per cent to $21.06 per ounce while spot gold held its position at $1824.51 per ounce.

      29 June 2022

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