Silver Rate in Mumbai Today _{Last Updated : 03 Mar 2021}

November 2020 - Week 1 (1 - 8):

• Silver rate in Mumbai was Rs.60,100 per kg on 1 November and increased to Rs.61,700 per kg on 2 November. The price of the metal increased further to Rs.61,900 per kg on 3 November.
• The price of the metal on 4 November dipped to Rs.61,200 per kg and on 5 November, due to various factors, the metal hit its highest price of the week at Rs.66,100 per kg and dipped to Rs.64,500 per kg on the following day.
• On 7 November, the metal’s value increased to Rs.65,400 per kg and closed at Rs.65,410 per kg on the following day, recording an overall incline.

November 2020 - Week 2 (9 - 15):

• Silver rate in Mumbai at the start of the second week of November was Rs.65,400 per kg. There was a decline of Rs.10 for every kilogram when compared to the closing price of the previous week.
• The price of silver slipped in the commercial capital on 10th November and was retailed for Rs.61,000 per kg. Silver rates fluctuated in Mumbai over the remainder of the week.
• In Mumbai, silver rate closed the week at Rs.63,600 per kg with the overall performance witnessing an inclining trend.

November 2020 - Week 3 (16 - 22):

• Opening the week at Rs.63,610 per kg on 16 November, gold rate in Mumbai recorded an overall weekly decline, dipping to below the Rs.63,000 per kg levels at Rs.62,900 per kg on 17 November.
• The price of the metal dipped further to Rs.62,900 per kg on 18 November and further to Rs.62,100 per kg on 19 November with the rise in the dollar value in the market.
• On 20 November, the price of the metal was Rs.61,600 per kg and increased to Rs.62,300 per kg on 21 November, closing the week at the same price on 22 November.

November 2020 - Week 4 (23 - 30):

• In Mumbai, silver prices opened at Rs.62,300 per kg on 23 November and dipped to below the Rs.60,000 per kg level by 25 November at Rs.59,500 per kg. The metal’s price increased marginally on 26 November at Rs.60,050 per kg.
• However, with risk appetite increasing amongst investors, the price of the metal dipped to Rs.59,600 per kg on 27 November and further to Rs.59,200 per kg on 28 November.
• After holding steady at the same price on 29 November, the metal closed the last week and the month at Rs.59,100 per kg.

October 2020 - Week 1 & 2 (1 -11):

• Silver price in Mumbai opened at Rs.60,700 per kg on 1 October and showed an overall inclining trend for the first week, increasing to Rs.61,210 per kg on 4 October. However, the price of the metal dipped to Rs.60,600 per kg on 5 October.
• On 6 October, the metal’s price saw an incline to Rs.62,000 per kg and was back to being priced at Rs.60,600 per kg on 7 October due to mute global demand.
• Silver rate on 9 October was Rs.60,600 per kg and increased to Rs.62,900 per kg on 10 October, closing the week at Rs.62,910 per kg on 11 October.

October 2020 - Week 3 (12 - 18):

• A kilogram of silver was retailed for Rs.62,920 at the start of the third week of October. When compared to the closing price of the previous week, there was an increase of Rs.10 for every kilogram.
• The price of silver climbed to its highest for the month till date the next day when a kilo cost Rs.63,100.
• For the remainder of the week, silver rates saw slight fluctuations. Silver price in Mumbai closed the week at Rs.61,700 per kg with the overall performance witnessing an inclining trend.

October 2020 - Week 4 (19 - 25):

• In Mumbai, a kilogram of silver was priced at Rs.61,350 per kg on 19 October and increased to Rs.62,000 per kg on the following day. As investors shifted to the bullion market with a lower risk appetite, the white metal hit its highest price of the month at Rs.63,500 per kg on 21 October.
• However, silver rates started dipping after hitting its monthly high. The metal’s price dropped by Rs.500 to Rs.63,000 per kg on 22 October and further to Rs.62,600 per kg on 23 October.
• On 23 October, the silver price dipped marginally by Rs.100 to Rs.62,500 and closed the week at the same price on 25 October.

October 2020 - Week 5 (26 - 31):

• In Mumbai, a kilogram of silver was priced Rs.61,800 per kg on 26th October. There was a drop of Rs.700 for every kilogram when the price of the precious metal was compared to the closing price of the previous week.
• Over the week, the price of silver improved gradually in the commercial capital before dropping on the final day of the month.
• Silver price in Mumbai closed the week at Rs.61,000 per kg with the overall performance witnessing an inclining trend.

• Silver rate in Mumbai opened the first week of the month at Rs.76,500 per kg and declined substantially throughout the week as the value of the dollar fluctuated in the international market.
• The price of silver on 1 September was also its weekly high and on 3 September, as the dollar value recovered in the market, the silver price dropped and hit its weekly low at Rs.65,800 per kg on 3 September.
• At the end of the week, silver price in Mumbai recovered further to below the Rs.68,000 per kg level and closed at Rs.67,210 per kg.

September 2020 - Week 2 (7 - 13):

• Silver rate in Mumbai opened the second week of September at Rs.67,220 per kg. There was an increase of Rs.10 when compared to the closing price of the previous week.
• Silver rates fluctuated in the commercial capital over the week. A kilogram of the white metal was retailed for Rs.68,560 on 10th September.
• In Mumbai, the price of silver in Mumbai closed the week at Rs.67,900 per kg. The overall performance of the white metal witnessed a declining trend in the rates.

September 2020 - Week 3 (14 - 20):

• Silver rate in Mumbai at the start of the third week of September was Rs.67,910 per kg. There was an increase of Rs.10 for every gram when compared to the closing price of the previous week.
• The price of silver slipped in Mumbai after 15th September and was retailed for Rs.67,810 per kg on 18th September.
• In Mumbai, silver rate closed the week at Rs.67,900 per kg with the overall performance witnessing a declining trend.

September 2020 - Week 4 (21 - 27):

• In Mumbai, silver prices opened at Rs.67,800 per kg on 21 September and dipped to Rs.61,300 per kg on the following day due to the rise in the dollar value in the international market.
• On 24 September, the metal’s value declined further to hit its lowest of the month at Rs.58,500 per kg. On the next day, the price of silver increased marginally to Rs.59,300 per kg.
• Silver rate, on 26 September, dipped marginally to Rs.59,000 per kg as investors shifted towards the equities market and the white metal closed the week at the same price, recording an overall decline.

September 2020 - Week 5 (28 - 30):

• In Mumbai, silver opened the fifth week of September at Rs.59,000 per kg. When compared to the closing price of the previous week, there was no change in the rates of the white metal.
• The price of silver climbed in the commercial capital of the country over the next two days and closed the month at Rs.62,500 per kg.
• Silver price in Mumbai recorded a declining trend over the month of September.

August 2020 - Week 1 (1 - 9):

• In Mumbai, the silver rate was at Rs.65,010 per kg on 1 August and increased to Rs.65,410 per kg by 4 August. The rise in prices was mainly due to the lower risk appetite amongst investors.
• With the rise in COVID-19 cases, the safe-haven demand for silver increased to a great extent and the metal crossed the Rs.70,000 per kg mark on 6 August at 71,510 per kg.
• On 8 August, the silver rate in Mumbai hit record highs at Rs.76,520 per kg and dipped marginally on the last day of the week, closing at Rs.74,210 per kg on 9 August.

August 2020 - Week 2 (10 - 16):

• The price of silver in Mumbai at the start of the week was Rs.74,220 per kg in Mumbai. There was a minimal increase in the rates when compared to the price charged on the final day of the previous week.
• Silver recorded its lowest price for the month on 13th August when a kilo cost Rs.65,010 in the metropolitan city.
• Silver price in Mumbai improved gradually and closed the second week of August at Rs.68,010 per kg. The metal’s overall performance witnessed an inclining trend in the city.

August 2020 - Week 3 (17 - 23):

• Silver price in Mumbai opened the third week of the month at Rs.68,020 per kg and increased substantially to Rs.68,910 per kg on 18 August. The price of silver increased further on 19 August to Rs.71,110 per kg.
• On 20 August, the price of silver in Mumbai dipped to below the Rs.69,000 per kg mark at Rs.68,110 per kg as the value of the dollar recovered in the market. On 21 August, silver prices dropped by more than Rs.1,000 to Rs.67,010 per kg.
• On 23 August, the metal closed the week at Rs.67,110 per kg recording an overall decline.

August 2020 - Week 4 (24 - 31):

• A kilo of silver was retailed for Rs.67,120 at the start of the final week of August in Mumbai. There was a minimal increase in silver rates when compared to the price charged at the end of the previous week.
• The price of silver fluctuated in Mumbai over the week. While the rates slipped over the first half of the week, it gained in the latter half.
• Silver price in Mumbai closed the week at Rs.66,370 per kg. The overall performance of the metal witnessed an inclining trend in the metropolitan city.

July 2020- Week 1 (01 - 05):

• The price of silver in Mumbai in the first week of July in Mumbai was Rs.48,560 per kg, surging up to cross the Rs.50,000 per kg mark on 2 July, recording the highest price of the metal in the week at Rs.50,050 per kg as the number of COVID-19 cases all over the world increased.
• However, on 3 July, the value of silver showed a decline as the United States of America showcased positive data along with reports of a possible COVID-19 vaccine which increased the risk appetite amongst investors. The price of silver in Mumbai was Rs.48,610 per kg on 3 July and decreased further.
• On 4 July, the price of silver in Mumbai dipped to Rs.48,560 per kg as investors waited for updates on the economic data of the country due to gold prices remained steady with minor fluctuations. On the last day of the month, silver prices dipped marginally to Rs.48,510 per kg on 5 July and closed the week with an overall declining trend.

July 2020 - Week 2 (06 - 12):

• In the city of Mumbai, the value of silver opened the second week of July at Rs.48,520 per kg on 6 July and showed an overall incline through the week. Increasing to Rs.49,610 per kg on 7 July boosted by increased safe-haven demand of the metal by investors, the price of silver was hovering close to hitting 7-year highs. With the rising number of new COVID-19 cases all over the world, the price of the metal increased, but not before dipping marginally to Rs.49,300 per kg on 8 July due to the recovery of the U.S. dollar in the market.
• On 9 July, silver prices increased to Rs.50,030 per kg, crossing the Rs.50,000 per kg mark as the risk appetite dipped amongst investors and safe-haven demand rose yet again. The value of the white metal increased by more than Rs.1,000 in one day and was priced at Rs.51,910 per kg on 10 July.
• However, on 11 July, as speculations amongst investors rose regarding an economic recovery, risk appetite amongst investors increased prompting them to shift towards the equities market. The rise in risk appetite was short-lived as the U.S. along with other countries showed the inclining trend of COVID-19 cases which increased safe-haven demand of the metal. Silver hit the highest price of the week at Rs.52,000 per kg on 12 July and closed at the same rate at the end of the week.

July 2020 - Week 3 (13 - 19):

• The price of silver in Mumbai at the start of the third week of July was Rs.52,010 per kg. There was a minimal increase in the rates when compared to the closing price of the previous week.
• Silver price in the metropolitan city touched its highest for the month on 16th July when a kilogram was retailed for Rs.53,010.
• Over the week, the rates of silver witnessed an inclining trend. The precious metal closed the week at Rs.52,910 per kg.

July 2020 - Week 4 (20 - 26):

• A kilogram of silver was retailed for Rs.52,290 in Mumbai on 20th July. Compared to the price charged on the final day of the previous week, the rates were up by Rs.10 for every kilo.
• Over the week, the rates of silver shot up in the metropolitan city. Silver price in Mumbai recorded its highest rate for the month till date on 24th July with a kilo costing Rs.62,010 per kg.
• Silver rates fell considerably the next day before recovering slightly and closing the week in Mumbai at Rs.61,210 per kg.

July 2020 - Week 5 (27 - 31):

• In Mumbai, silver rate opened at Rs.61,220 per kg on 27 July and increased to cross the Rs.64,000 per kg mark on the following day at Rs.64,710 per kg.
• The metal’s value increased further to cross the Rs.66,000 per kg mark on 28 July and was priced at Rs.66,010 per kg. Silver rates increased to hit its highest on 30 July at Rs.66,060 per kg.
• Silver prices in Mumbai on the last day of the week dropped to a great extent and closed the week and the month at Rs.63,010 per kg on 31 July.

June 2020 - Week 1 (1 - 7):

• In Mumbai, a kilogram of silver was retailed for Rs.50,120 on 1st of June. There was a minimal increased of Rs.20 in the rates when compared to what was charged on the final day of the previous month. Given increasing tensions between the United States of America and China, protests in major cities of the States and a weakening dollar, the rates climbed to its highest for the month till date on 2nd June. A kilo of white metal cost Rs.50,160.
• The rates of silver slipped considerably the following day and was priced Rs.48,900 per kg. The decline in the rates was accounted to the risk - on sentiment being boosted after equity markets rallied on economic optimism and hopes of further stimulus measures.
• Silver rates slipped in the commercial capital on 5th and 6th June as riskier assets made gains. The precious metal recorded its lowest price for the month till date on 6th June with a kilo costing Rs.47,400 per kg. The white metal closed the week at Rs.47,410 per kg after the rates saw a minimal increase on the final day of the week. The rates witnessed an inclining trend over the week in the city.

June 2020 - Week 2 (8 - 15):

• In Mumbai, silver opened the second week of the month at Rs.47,450 per kg on 9 June and increased to Rs.48,200 per kg on 10 June due to a decreasing risk appetite amongst investors due to the rising number of COVID-19 cases all over the world. On 11 June, silver prices increased to 48,310 per kg with investors awaiting the economic data projection of the United States of America. With the dollar value dipping in the international market, the value of silver increased due to the rise in demand.
• The price of the metal increased to hit its highest on 12 June at Rs.48,510 per kg with investors awaiting the economic data from the United States Federal Reserve. However, on 13 June, the price of the metal dipped to 48,460 per kg with the value of the dollar recovering in the international market. Risk appetite amongst investors increased and shifted towards the equities market.
• On 14 June, the price of the metal dipped to Rs.47,710 per kg, below the Rs.48,000 per kg with the value of the dollar increasing in the market. However, on the last day of the week, silver prices closed at Rs.47,720 per kg on 15 June.

June 2020 - Week 3 (16 - 21):

• A kilogram of the white metal was priced Rs.47,110 on 16th June in Mumbai, the commercial capital of the country. There was massive drop of Rs.610 for every kilo when compared to the price charged on the final day of the previous week.
• Over the week, silver witnessed an incline of Rs.1,560 for every gram in the metropolitan city. The increase in the rates was accounted to growing concerns about a second wave of COVID – 19 cases.
• Silver closed third week of June at Rs.48,670 per kg in the city. The overall performance of the white metal in the financial capital witnessed a declining trend as the closing price was lower than the opening price for the month.

June 2020 - Week 4 (22 - 30):

• The price charged for a kilogram of the white metal at the start of the final week of June in Mumbai was Rs.48,680. Compared to what was charged on the final day of the previous week, the rates were up by Rs.10.
• In the commercial capital of the country, silver rates increased to Rs.48,810 per kg the next day as nervous investors opted for safe-haven assets amid the increasing number of COVID – 19 cases around the world.
• The rates of the precious metal slipped in the city over the next three days before increasing gradually and closing the week at Rs.48,510 per kg. The overall performance of silver in Mumbai witnessed a declining trend.

May 2020 - Week 1 (1 - 9):

• In Mumbai, silver was priced at Rs.42,530 per kg on 1st May. Compared to the closing price of the previous month, the rate charged for a kilo shot up by Rs.1,010. The sharp increase in the rate was accounted to bleak U.S. data which highlighted the economic impact of coronavirus.
• In the commercial capital, silver recorded its highest and lowest price for the month to date on the 9th and 2nd of May with a kilo costing Rs.43,510 and Rs.41,010 respectively. Over the week, silver price fluctuated in the city due to various factors like firm dollar, rising tensions between U.S. and China, boost in risk appetite, easing of coronavirus restrictions etc.
• Over the opening week of May, silver prices witnessed an inclining trend in the metropolitan city. There was a difference of Rs.980 in the prices when the opening and closing price of the white metal was compared.

May 2020 - Week 2 (10-16):

• In the city of Mumbai, the price of silver showed a fluctuating trend in the market for the second week of May. Opening at Rs.43,610 per kg on 10 May, the price of the metal showed a marginal incline on 11 May at Rs.43,620 per kg. The rise in prices was majorly due to the risk appetite being low amongst investors. On 12 May, the price of gold had dipped to Rs.43,090 per kg due to various local factors, with a decline in the local demand of the metal with the country being under lockdown.
• On 13 May, the price of the metal dipped to Rs.42,950 per kg and increased marginally to Rs.42,960 per kg in the city of Mumbai on 14 May. The dip in prices was due to the rising value of the dollar in the international market. However, the marginal rise in gold prices was with central banks allotting additional stimulus packages to stabilise the economy.
• The price of the metal on 15 May had increased to Rs.43,160 per kg due to the rise in tensions between the United States of America and China. With the trade tensions on the rise, investors shifted to the bullion market with lower risk appetite. The price of the metal increased by more than Rs.3,500 per kg on 16 May, hitting the highest price of the month at Rs.46,900 per kg, closing the week at the same price.

May 2020 - Week 3 (17 - 23):

• In Mumbai, the commercial capital of the country a kilo of silver cost Rs.46,710 at the start of the third week of May. There was a decline of Rs.190 for every kilo when compared to the closing price of the previous week.
• Over the week, the rates witnessed an inclining trend in the city as silver prices increased due to souring U.S. - China relations and gloomy economic outlook. The white metal recorded its highest price for the month on 19 May with a kilo being retailed for Rs.48,510 after the rates shot up supported by fears of a global recession and a wave of central bank stimulus measures.
• While the rates slipped on 20th May, the rates increased over the next three days and closed the week at Rs.48,350 per kg in Mumbai. The incline in the prices was witnessed because the bullion’s safe-haven appeal was lifted because of escalating tensions between Washington and Beijing.

May 2020 - Week 4 (24 - 31):

• In Mumbai, the price of silver showed a fluctuating trend in the market during the last week of May. Opening the week at Rs.48,360 per kg on 24 May, the price of the metal showed an immediate incline on 25 May at Rs.51,400 per kg, hitting its highest price in the month. However, the price of silver dipped on 26 May at 48,000 per kg, decreasing by Rs.3,400 per kg. With Japanese equities showing positive data, investors with a higher risk appetite shifted to the stock market, thus lowering the demand and the price of the white metal. However, silver showed an inclining trend soon after, increasing to Rs.48,700 per kg on 27 May.
• The price of the metal on 28 May decreased to Rs.47,910 per kg with investors with a higher risk appetite shifted to the equities market on a steady dollar value and in expectancy of the economy to recover faster. The price of the metal on 29 May remained steady at the same price and increased to Rs.48,560 per kg, with an incline of Rs.650 per kg on 30 April.
• With lower risk appetite along with tensions rising between Washington and Beijing, investors shifted to the bullion market due to its safe-haven appeal. The price of the metal closed the month and the week crossing the Rs.50,000 per kg mark at Rs.50,100 per kg, recording an overall monthly incline.

April 2020 - Week 1 (1 - 4):

• Opening the first week of the month at Rs.40,500 per kg, the price of silver in Mumbai did not change throughout the week. Even though there were fluctuations in the price of the metal in the international market, it did not have any adverse effect to the price in the country due to the 21-day lockdown of the country to prevent the spreading of the pandemic COVID-19.
• With various factors at play in the international market such as the rising value of the dollar and the poor job data from the United States of America, silver prices remained unchanged in Mumbai and closed the week at Rs.40,500 per kg on 4 April.

• Silver opened the week at Rs.40,500 per kg in Mumbai. With equities gaining given the signs of a slowdown in the number of new coronavirus cases, the rates dropped to its lowest for the month in the commercial capital the next day and was priced at Rs.40,360 per kg.
• The rates climbed on 8th April due to reasons like investors waiting for clues on further stimulus measures to be provided by the US Federal Reserve and the risk sentiment being hammered due to the increasing number of Covid – 19 deaths. A kilo of the white metal was retailed for Rs.41,290 in the city on the mentioned date.
• The white metal closed the week at Rs.41,100 per kg in Mumbai. The metal’s overall performance recorded an incline in the prices.

• Opening the third week of the month, silver prices in Mumbai showed an overall incline in the week with a few fluctuations in price due to the global trends of the metal. Opening at Rs.41,100 per kg, the price of the metal increased marginally on 13 April and then to Rs.41,310 per kg on 14 April. The hike in prices was due to investors speculating a possible recession in the economy.
• On 15 April, the price of the metal hit its highest at Rs.41,920 per kg with investors shifting to the bullion market for its safe-haven appeal. However, on 16 April, the price of silver decreased to Rs.41,860 per kg which was a result of rising dollar value in the market.
• Silver on 17 April was priced at Rs.41,900 per kg and dipping to a great extent to Rs.41,210 per kg on 18 April with investors with higher risk appetite shifting to the stock market with President Trump announcing measures to reopen the market.

April 2020 - Week 4 (19 - 25)

• In Mumbai, the commercial capital of the country silver opened the week at Rs.41,160 per kg. Compared to the closing price of the previous week, the rates were down by Rs.50 for every gram.
• The rates of the white increased gradually over the next couple of days after drawing support from weaker equities. The increase in the rates meant that silver touched its highest for the month on 21 April with a kilo costing Rs.40,360 in the metropolitan city.
• A firm dollar offsetting safe-haven buying and investors booking profits from the sharp gains made in the previous session meant that the rates slipped to Rs.41,420 per kg on 23 April. The rates increased slightly before closing the week at Rs.42,540 per kg. Silver prices witnessed an inclining trend in the prices over the week.

April 2020 - Week 5 (26 - 30):

• Opening the last week of the month, silver prices in Mumbai showed an overall incline in the week with a few fluctuations in price due to the global trends of the metal. Opening at Rs.42,610 per kg, the price of the metal dipped to a great extent on 28 April at Rs.42,210 per kg due to profit-booking by investors.
• Decreasing further, the price of silver on 29 April fell to Rs.41,510 per kg with investors shifting to the stock market and away from the bullion due to higher risk appetite. The price of the metal showed a minor rise in prices on the last day of the week and the month. On 30 April, the price of the metal was Rs.41,520 per kg and ended the month at an overall incline.

March 2020 - Week 1 (01 - 07):

• In Mumbai, the white metal showed an overall incline in prices with the rapid spread of the COVID-19 virus in the world and its effect on the global economy. Opening the month at Rs.47,400 per kg, silver prices increased on 2 March at Rs.48,500 per kg. The rise in prices was due to increased offset by industrial coin makers along with the positive global trend of the metal. On 3 March, the price of the metal remained steady at the same price.
• On 4 March, the price of silver in Mumbai increased to Rs.50,100 per kg, however, dipped to Rs.49,900 per kg. This was due to a momentary shift by investors to the stock market with increased risk appetite. However, on 6 March silver rate in Mumbai increased to Rs.50,700 per gram which was the weekly high of the metal. Silver closed the week at Rs.50,500 per kg on 7 March.

March 2020 - Week 2 (8 - 14):

• Silver prices in Mumbai stood at Rs.50,500 per kg on the 8th of March in Mumbai, the financial capital of the country. There was no change in the rates of the white metal when compared to the previous week’s closing price.
• The rates slipped to Rs.49,900 per kg in the metropolitan city the following day before increasing slightly to cost Rs.50,000 per kg on 10 March. The fall in the prices was accounted to retreat in global equities given the concerns over the economic fallout from coronavirus.
• The silver rate in Mumbai witnessed a minor drop of Rs.100 per kg the next day before recording a steep fall in the prices in the commercial capital. The decline in the prices was accounted to worries about the economic impact of coronavirus as the United States suspended travel from virus-hit Europe.
• The silver price closed the week at Rs.44,000 per kg as the yellow metal headed for its biggest weekly loss since 1983 as investors embarked on a selling spree to meet margin calls across other markets and accumulate cash. The closing price was the lowest recorded price for the month till date with the overall performance of silver witnessing a declining trend in Mumbai.

March 2020 - Week 3 (15 - 21):

• Silver rate in Mumbai opened this week at Rs.44,000 per kg on 15 March and dipped by Rs.800 in a day to be priced at Rs.43,200 per kg on 16 March. The price of the metal dipped to Rs.39,000 per kg on 17 March as investors sold their assets for cash to survive in the ongoing crisis. On 18 March, the price of the metal increased marginally to Rs.39,300 per kg with marginal safe-haven demand from traders.
• Amidst the European Central Bank announcing measures to be taken to stabilise the economy, the price of the white metal dipped to its lowest at Rs.37,800 per kg which was its lowest price in more than a year. Compared to the beginning of the year, the price of silver had fallen by more than Rs.12,000 per kg.
• On 20 March, the price of the metal recovered marginally to be priced at Rs.39,900 per kg increasing by Rs.2,100 per kg in a single day amidst limited safe-haven demand of the metal. At the end of the week, silver closed at Rs.40,100 per kg on 21 March in the city.

March 2020 - Week 4 (22 - 31):

• In Mumbai, silver was priced at Rs.40,100 per kg at the start of the fourth week of March. Compared to the closing price of the previous week, the rates of the white metal saw no change in the commercial capital.
• Silver prices climbed to Rs.40,700 per kg the next day as the investor sentiment was boosted following new aggressive steps taken by the U.S. Federal Reserve in a bid to combat the economic impact due to the outbreak of coronavirus across the world. The rates dipped on March 24 in the commercial capital and a kilogram was retailed for Rs.40,500.
• There was no change in the price of silver following March 24. This was accounted to the 21-day lockdown imposed by the government with the aim of curtailing the spread of coronavirus. Silver closed the final week of March at Rs.40,500 per kg with the overall performance showing a declining trend in the prices.

February 2020- Week 1 (1 - 9):

• Silver prices in Mumbai opened the first week of February at Rs.50,300 per kg on 1 February. On 4 February, the price of the metal dipped to Rs.49,800 per kg after remaining steady for 3 continuous days. This was due to investors awaiting on the developments on the measures to be taken by China and the United States of America to stabilise the economy.
• The price of the metal gradually decreased with China’s Central Bank cutting down the repo rates and letting an inflow of liquidity into the market in order to stabilise it. With reports of a possible vaccine coming in to combat the virus, risk appetite amongst investors increased. The price of the white metal dipped to Rs.49,600 per on 5 February.
• However, the effect of the measure on the economy was limited as the fears of the Coronavirus escalated on a global scale with an increasing number of deaths and more cases being reported. Shifting to the bullion market, the investors’ demand for the metal increased and silver closed the week at Rs.49,900 per kg on 9 February.

February 2020 - Week 2 (10 - 16):

• In Mumbai, silver prices stood at Rs.49,900 per kg on 10 February. There was no change in the rates of the white metal when compared to the previous week’s closing price.
• Over the next two days, silver prices dropped Rs.49,500 per kg. This was the lowest recorded price for the month in the financial capital. It was accounted to investors’ increased risk appetite following reports of decline in the number of new coronavirus cases.
• Silver prices in Mumbai closed the second week of February at Rs.50,000 per kg after increasing gradually over the week. The increase in the prices was accounted to investors betting on the safe-haven metal to cover against the economic impact of the coronavirus.

February 2020 - Week 3 (17 - 23):

• Silver prices in Mumbai stood at Rs.50,400 per kg on 17 February. The metal showed an overall incline in its prices in the city due to positive global trends along with a steady local demand. Globally, the prices of the silver showed an inclining trend due to investors shifting to the bullion market due to Coronavirus fears and its impact on the economy.
• The price of the metal over the next few days in the week showed a steady incline crossing the Rs.51,000 mark at Rs.51,600 per kg on 19 February. Silver prices, amidst a lower risk appetite amongst investors, increased further to cross the Rs.52,000 mark at Rs.52,100 per kg on 20 February.
• At the end of the week, the price of the white metal had increased and hit the highest price of the month till date. On 22 February, a kg of silver was priced at Rs.52,400 and closed at the same price on 23 February as well.

February 2020 - Week 4 (24 to 29):

• Silver prices in Mumbai showed overall decline over the month of February. The rates of the white metal started the final week at Rs.52,900 per kg after the rates increased by Rs.500 for every kilogram from what was charged on the last day of the previous week.
• Concerns regarding the spread of coronavirus across the world meant that the prices slipped in the commercial capital of the country. Increasing concerns encouraged safe haven buying.
• The rates fell to Rs.51,100 per kg on 27 February before closing the month at Rs.47,400 per kg, the lowest recorded price for the metal in Mumbai.

January 2020- Week 1(01 - 05):

• Silver price in Mumbai stood at Rs.50,300 per kg on 1 January and increased through the week due to various global factors even after opening at a decreased price by Rs.600 per kg compared to last month’s closing.
• The price of silver in Mumbai saw a constant fluctuation through the week due to a fall in the value of the dollar against the rupee. As the rupee increased, the price of silver increased as well. On 3 January, silver had increased by Rs.800 per kg to Rs.51,100 per kg.
• On 4 January, silver rate in Mumbai reduced marginally by Rs.100 per kg due to decreased offtake by industries and local jewellers even amidst a positive global trend. The rates closed the first week of January at Rs.51,000 per kg. The overall performance of silver in Mumbai was trending upwards.

January 2020- Week 2(06 - 12):

• Silver rate in Mumbai stood at Rs.52,300 per kg on 6 January, showing an increase by Rs.1,300 per kg when compared to the previous week’s closing price. Local demand and increased offset amongst coin makers resulted in an increase in prices early in the week. On 7 January, the price of silver dipped by Rs.1,000 per kg to Rs.51,000 per kg.
• The price of silver in Mumbai saw a constant fluctuation through the week due to geopolitical factors and to the rise in the value of the dollar against other currencies. The highest price of silver in Mumbai was on 8 January at Rs.52,600 per kg as investors awaited President Trump’s response to the attacks on U.S. soldiers in Iraq.
• As the U.S. wished to ease the tensions between the two countries, instead of escalating it, the price of the metal dipped in the second half of the week. On 11 January, silver price in Mumbai hit Rs.50,600 per kg and closed the week at the same price.

January 2020- Week 3(13 - 19):

• Silver price in Mumbai stood at Rs.50,400 per kg on 13 January, with a marginal decrease by Rs.200 per kg when compared to the closing price of the previous week. The price of the metal decreased on 15 January soon after the trade deal was signed by both China and the United States of America.
• After being constant on 15 January and 16 January, the price of silver in Mumbai increased by Rs.400 per kg to Rs.50,400 per kg on 17 January. Silver prices held strong amidst rising geopolitical tensions in the Middle East as a drone and military strike was responsible for the death of more than 100 soldiers.
• The price of silver in Mumbai remained steady as investors shifted to the bullion due to safe-haven appeal and closed the third week of the month at Rs.50,400 per kg.

January 2020- Week 4 (20 - 26):

• In Mumbai, silver price stood at Rs.50,700 per kg at the beginning of the fourth week of January. Compared to the previous week’s closing price, the rates of the white metal increased by Rs.300 for every kilogram.
• The rates of the white metal climbed to Rs.51,000 per kg as investors sought refuge in the safe-haven metal amid concerns regarding outbreak of coronavirus in China. Silver prices slipped the next day as they assessed the risk of the virus becoming a global epidemic.
• Over the week, the rates didn’t see much fluctuations and closed at Rs.51,000 per kg in the commercial capital of the country. The overall performance of the metal showed an incline in the prices.

January 2020- Week 5 (27 - 31):

• Silver prices in Mumbai opened the last week of January at Rs.51,300 per kg and showed a declining trend in its prices throughout this week. On 28 January, the price of the metal dipped to Rs.50,800 per kg as investors awaited on the developments regarding the rate cuts by the U.S. Federal Reserve.
• As the fears of the Coronavirus escalated on a global scale recording an increased number of cases and deaths, investors shifted to the bullion market, increasing its demand. The price of the metal on 29 January was Rs.51,000 per kg. However, due to poor local demand and decreased offset of the metal, the price of the metal dipped further.
• On 30 January, the price of the metal was Rs.49,200 per kg which was the lowest price of the week. Silver prices increased gradually, closing the month of January at Rs.50,200 per kg.

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