Silver Price/Rate in Mumbai Today

Historical Trend of Silver Price in Mumbai 2025

Trend of Silver Rate in Mumbai for for August 2025 (rates per kg)

Trend of Silver Rate in Mumbai for for July 2025 (rates per kg)

Trend of Silver Rate in Mumbai for for June 2025 (rates per kg)

Trend of Silver Rate in Mumbai for for April 2025 (rates per kg)

Trend of Silver Rate in Mumbai for for March 2025 (rates per kg)

Trend of Silver Rate in Mumbai for for February 2025 (rates per kg)

Trend of Silver Rate in Mumbai for for January 2025 (rates per kg)

How is silver traded across the world?

Silver is traded through spot prices or forward contract prices across the globe. In Mumbai, the silver price is determined by the prevailing silver rates in the international market along with the import cost, currency value, inflation, and other factors.

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 Trend in India 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.

What are the Points to be Considered Before Buying Silver?

The following are the points that should be remembered before buying silver items in Mumbai:

Silver rates - Silver rates keep fluctuating, so it's important to check the price of silver on a daily basis before making a purchase. Keep track of the silver rates in Mumbai and across the country to make sure that you do not end up paying extra.

Quantity of silver - The quantity of silver purchased determines the overall silver price. Check the quantity of the silver items that you wish to purchase before investing in it.

Form of silver - Depending upon the purpose of purchase you must decide which form of silver to purchase. If you are looking for silver jewelry or household items, then any form of silver can be purchased. If you wish to purchase silver to invest in it, then go for it Silver bars & coins, or bullions to earn guaranteed returns in the future.

Transaction mode - To get a genuine product, it is important to choose the right mode of transaction. The authentic mode of transaction helps get verified purity product that eventually helps receiving the best resale value of the silver product.

Certification - To ensure the genuineness of the silver product and maximize the resale value, check the certification before purchasing the silver product.

Why is Silver in Mumbai Cheaper?

Silver has always been lesser in price when compared to gold. The vast bulk of silver is used in industry. The precious white metal was also was utilised for conductivity in old electronic devices. The scarcity of silver itself is one of the most important reasons why silver is cheaper than gold. The majority of the global demand for silver is less which accounts for its lower price.

Like all other metals, the price of silver depends on the country's supply and demand. If the demand is high, the price of silver will also be high and vice versa.

How to Trade in Silver in Mumbai

The National Spot Exchange (NSEL) offers E-series products such as E-Gold and E-Silver, allowing users to trade or make investments in silver in the same way they can in equities. NSEL's trading hours are from 10.00 a.m. to 11.30 p.m. A minimum of 1 unit of silver which is equivalent to 100 gram of silver can be purchased in Demat form at real-time Indian prices that follow the global prices of gold/silver.

A separate Demat account with one of the depositories is required for trading in NSEL. The depositories' names can be obtained on the official website of NSEL. Once a Demat account is opened, dematerialised silver can be purchased online. For silver, the e-series unit is 100 gram. Trading in NSEL enables individuals to convert their electronic silver into physical silver or cash.

Factors Impacting Silver Rates in Mumbai

Here are some factors that impact the silver prices in Mumbai:

Gold price - Gold is a major driver of silver pricing. As the price of gold rises due to increased demand, so will the price of silver.

Purchases in bulk - The price of silver is significantly affected by bulk trades and purchases.

Mining costs - Another factor that influences the price of silver is the mining cost. Since less mining takes place when the cost is high, the supply decreases. The price rises as the total value of silver available decreases.

Industrial demand -  Silver is used in the production of a variety of commodities such as jewellery, coins, televisions, computers, etc. These sectors release new items regularly, increasing demand for silver and causing prices to rise.

Inflation - Silver prices are also influenced by trends in inflation, deflation, and devaluation, such as shifts in the US dollar's value. Silver prices rise when the US dollar's worth is low.

Interesting Facts about Silver Metal 

The following are some of the interesting facts about silver metal: 

1. Among the first five metal discovered by mankind, silver is one of them 
2. Silver was used as currency during Egyptian era and the existence of silver objects dates back to 4000 BC 
3. The word silver comes from ‘Seolfor’, an Anglo-Saxon word 
4. Silver has multiple health benefits and has germ-killing properties 
5. Silver reflects 95% of visible light spectrum and is considered one of the most reflective metals 

1. Silver is used in manufacture of mirror, telescope, solar panels, microscope, etc., due to its reflective property 
2. The second-largest producer of silver in the world is Peru 
3. The first US Dollar coin was minted in 1794 using silver 
4. Before 1965, silver coins minted in the US was of 90% pure 
5. Silver iodide, a silver compound used in cloud seeding that helps controlling hurricane and lead the clouds to produce rain 

1. Silver has highest thermal conductivity and is the best conductor of electricity among all the elements in the periodic table