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Today Silver Rates In Mumbai

30 Jul 2021

gold rate

₹70.05

( Per Gram )

gold rate

₹70058

1 Kg

TodayYesterdayChange(%)
1 gram70.0568.392.37%
10 gram70058683852.39%

Silver Rates In Mumbai for Last 90 Days

30 Jul 2021

Date1 gramBar Silver 1KG
2021-07-3070.0570,058
2021-07-2968.3968,385
2021-07-2868.9467,949
2021-07-2769.1469,138
2021-07-2669.0869,078
2021-07-2569.0869,078
2021-07-2469.1369,125
2021-07-2370.7069,710
2021-07-2269.3669,363
2021-07-2168.4868,478
2021-07-2069.3069,299
2021-07-1971.6170,612
2021-07-1871.6270,617
2021-07-1771.6170,610
2021-07-1672.3572,350
2021-07-1572.9671,961
2021-07-1471.4871,486
2021-07-1372.0472,038
2021-07-1272.6671,661
2021-07-1172.6671,661
2021-07-1072.8871,873
2021-07-0971.4871,485
2021-07-0872.1472,146
2021-07-0772.1572,150
2021-07-0672.4872,486
2021-07-0573.6472,642
2021-07-0473.6472,642
2021-07-0373.6872,677
2021-07-0272.5771,570
2021-07-0171.3771,372
2021-06-3071.6370,634
2021-06-2971.4871,489
2021-06-2871.4371,428
2021-06-2771.3971,393
2021-06-2671.2171,211
2021-06-2571.9970,995
2021-06-2471.9170,907
2021-06-2371.7370,730
2021-06-2271.0671,063
2021-06-1971.7270,722
2021-06-1871.0871,087
2021-06-1774.3574,346
2021-06-1675.7974,783
2021-06-1575.1775,173
2021-06-1475.3775,372
2021-06-1375.3775,372
2021-06-1275.4875,476
2021-06-1175.2075,198
2021-06-1075.9674,968
2021-06-0974.3974,387
2021-06-0875.9574,947
2021-06-0775.7174,709
2021-06-0675.7174,709
2021-06-0575.5974,591
2021-06-0474.9173,918
2021-06-0376.7075,702
2021-06-0275.0375,034
2021-06-0175.9474,944
2021-05-3175.5174,507
2021-05-3075.5174,507
2021-05-2974.2974,295
2021-05-2875.6474,643
2021-05-2774.1874,182
2021-05-2675.0875,076
2021-05-2575.5474,546
2021-05-2474.0774,069
2021-05-2374.0774,069
2021-05-2274.1174,108
2021-05-2175.6874,681
2021-05-2074.2474,239
2021-05-1976.9975,994
2021-05-1876.0776,079
2021-05-1774.0774,066
2021-05-1674.0774,066
2021-05-1574.9473,939
2021-05-1473.3473,339
2021-05-1374.6273,622
2021-05-1275.5974,590
2021-05-1174.9673,960
2021-05-1074.1674,159
2021-05-0974.1674,159
2021-05-0874.1374,125
2021-05-0774.2174,208
2021-05-0672.0172,014
2021-05-0572.7971,788
2021-05-0473.1473,140
2021-05-0371.7670,766
2021-05-0271.7670,766
2021-05-0171.7670,766
2021-04-3071.0571,056

Historical Price of Silver Rate In Mumbai

Trend of Silver Rate in Mumbai for February 2021 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
February 1st Rate72.3772,370
February 28th Rate67.8166,810
Highest February Rate78.8677,861
Lowest February Rate67.8166,810

Trend of Silver Rate in Mumbai for March 2021 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
March 1st Rate65.0665,069
March 31th Rate72.3772,370
Highest March Rate72.4172,410
Lowest March Rate65.0665,069

Trend of Silver Rate in Mumbai for April 2021 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
April 1st Rate71.0571,056
April 30th Rate66.8065,806
Highest April Rate74.6573,645
Lowest April Rate66.865,806

Trend of Silver Rate in Mumbai for May 2021 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
May 1st Rate75.5174,507
May 31th Rate71.7670,766
Highest May Rate76.0776,079
Lowest May Rate71.7670,766

Trend of Silver Rate in Mumbai for June 2021 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
June 1st Rate71.6370,634
June 30th Rate75.9474,944
Highest June Rate76.775,702
Lowest June Rate71.6370,634

Trend of Silver Rate in Mumbai for July 2021 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
July 1st Rate70.0570,058
July 30th Rate71.3771,372
Highest July Rate73.6872,677
Lowest July Rate68.9467,949

Introduction

Mumbai is named as the maximum city of the country. It is home to millions of citizens and is the driving force and the focal point for the economic activities of the country. It is therefore rightly referred to as the financial capital of India.

Mumbai is home to a huge demand for all precious metals like silver gold, platinum as well as precious stones. Silver and gold among the other precious metals has traditionally occupied a special place in the Mumbai market and has been traded since centuries.

The price of silver has seen a steady increase since the 2008 financial crisis that rocked the entire world. Gold and silver have since then been considered to be a stable and safer mode of investment and the prices of these metals has consistently increased over the years. The current scenario has also seen a steady increase in these metal prices and has become a great source of investment not only for retail investors but also for seasoned traders who regularly trade in the market.

Demand for silver in the city of dreams is not only for personal use but also for commercial and industrial use. Silver is also used heavily in the fashion industry among the commercial uses of this metal. You can find all the key details related to buying silver as well as silver rates in Mumbai on this page.

Prices of Silver in Mumbai

The rates of silver in Mumbai are dependent on many factors. These rates change on a daily basis and the customers, therefore, have to track the prices daily to get the best rates and then buy the commodity at the most appropriate time.

The rates of silver in Mumbai are mentioned below.

Daily Silver Rates in Mumbai

Silver Rate – 10 Gram (Rs.)

Silver Rate – 100 Gram (Rs.)

Silver Rate – 1 KG (Rs.)

31st Oct 2020

610

6100

61000

30th Oct 2020

602

6020

60200

29th Oct 2020

624.1

6241

62410

28th Oct 2020

624

6240

62400

27th Oct 2020

621

6210

62100

26th Oct 2020

615

6150

61500

25th Oct 2020

625

6250

62500

24th Oct 2020

625

6250

62500

23rd Oct 2020

626

6260

62600

22nd Oct 2020

630

6300

63000

21st Oct 2020

635

6350

63500

20th Oct 2020

620

6200

62000

19th Oct 2020

627.5

6275

62750

18th Oct 2020

617

6170

61700

17th Oct 2020

617

6170

61700

16th Oct 2020

616

6160

61600

15th Oct 2020

610

6100

61000

14th Oct 2020

620

6200

62000

Silver can be purchased in retail as well as bulk quantities as mentioned above. The rates of silver are measured on the basis of per gram, per 10 gram, per 100 gram or per kg. The lowest price and the highest price of silver in the month of October 2020 was Rs. 60,200 per kg and Rs. 63,800 per kg respectively.

Forms of Investment in Silver

Silver can be bought in many forms depending on the purpose of purchase. Silver bought with the intent of investing is usually bought in the form of silver coins or silver bars or silver bullions. These forms of silver ensure the maximum resale value and maximum returns on the investment made by the seller. Silver coins can be bought for as low as 1 gram weight or in multiples of 1 kg or 10 kg bars. Silver coins are the most popular form of investment even in case of retail investors as they are easily available through authorized dealers and banks as well as can be readily sold to them or even given the form of gifts or tokens.

Silver can also be traded on the commodity market and can be purchased in contracts through the two available exchanges for the same namely, the MCX and the NCDEX. The base weight for such contracts is generally in the size of 1 kg. These contracts are not in the nature of spot contracts and hence cannot be delivered immediately upon sale.

When silver is purchased for personal use, it is usually in the form of silver jewellery or silver household items.

Purity of Silver

Purity of silver is considered to be of utmost importance while purchasing silver whether for personal use or investment purposes. The purity of silver is established by various markings on the metal that assures the authenticity and purity of the metal. It ensures the customer that the price paid by the customer for the silver is of the grade or purity as disclosed by the seller.

The various grades of purity that can be allotted to silver are tabled below

Grade

Fineness

9999

999.9

9995

999.5

999

999.0

990

990.0

970

970.0

925

925.0

900

900.0

835

835.0

800

800.0

The various forms of markings that are found on silver are,

  • Jeweler’s / Manufacturer’s Identification Symbol
  • BIS (Bureau of Indian Standards) Mark
  • Marking Year
  • Purity Grade Indicator
  • Assay Centre’s identification mark

Points to be Considered while Purchasing Silver

There are various points to be considered while making purchasing silver. These factors not only influence the buying decisions of the customers but also affect the prices of the metal in many cases.

The details of such factors are mentioned below

Daily rates of Silver

The rates of silver are constantly changing on a daily basis. Hence, in order to get the best prices for silver, the customer has to keep track of the daily prices of silver in their city or state and the trend followed by the metal.

Form of silver to be purchased

The form of silver to be purchased is also an important consideration while making the purchase decision. It is important from the perspective of buying silver for personal use or investment. In case silver is bought for personal use, the form of silver can be anything like jewellery or coins or household items. In case of investment related purchases, the best form in which silver can be purchased is either coins or bars or bullions. That will ensure that the investors get the maximum returns on their investment in silver.

Quantity of silver to be purchased

The quantity of silver to be purchased also is another factor to be considered at the time making the purchase decision. The quantity is dependent on the purpose of purchase.

Mode of transaction

The mode of transaction refers to the mode through which silver is bought i.e. through registers and authorized dealers and sellers or banks or online e-commerce websites. Customers have to ensure that they get genuine products with verified purity in order to get the best resale value of silver.

Certification

Proper certification is also necessary at the time of purchasing silver as it ensures the customer of the genuineness of the product and maximizes the resale value of the silver purchased.

FAQs – Silver Rate in Mumbai

1. What is the preferred form of silver for investment purposes?

Silver coins or bars or bullions are the best form of silver that can be purchased for investment purposes.

2. What are the forms of certifications or markings available on silver?

The various markings on silver to make it authentic or notify the purity of the metal are mentioned below.

  • Jeweler’s / Manufacturer’s Identification Symbol
  • BIS (Bureau of Indian Standards) Mark
  • Marking Year
  • Purity Grade Indicator
  • Assay Centre’s identification mark

3. Can silver be traded in the futures market?

Yes. Silver can be traded in the commodity market and futures market and can be purchased in contracts. Silver can be purchased on MCX and NCDEX in contract sizes having base weights of minimum 1 kg.

4. What are the factors influencing the prices of silver?

Prices of silver are affected by many factors like geopolitical factors, dollar fluctuations, import costs, demand and supply parameters etc.

5. What is the current price of silver?

Use the tabular column on top of this page to check the latest price of silver in Mumbai.

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