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Today Silver Rates In Mumbai

24 Jan 2021

gold rate

₹66.81

( Per Gram )

gold rate

₹66810

1 Kg

TodayYesterdayChange(%)
1 gram66.8166.810.00%
10 gram66810668100.00%

Silver Rates In Mumbai for Last 90 Days

24 Jan 2021

Date1 gramBar Silver 1KG
2021-01-2467.8166,810
2021-01-2367.8166,810
2021-01-2267.8166,810
2021-01-2167.8166,810
2021-01-2067.8166,810
2021-01-1967.8166,810
2021-01-1867.8166,810
2021-01-1767.7866,781
2021-01-1667.7766,773
2021-01-1569.1069,099
2021-01-1469.5968,598
2021-01-1369.8068,798
2021-01-1268.8767,874
2021-01-1169.7768,765
2021-01-1069.7768,765
2021-01-0967.4667,459
2021-01-0874.6873,672
2021-01-0773.0573,049
2021-01-0674.2874,279
2021-01-0573.1773,167
2021-01-0471.0871,083
2021-01-0371.0871,083
2021-01-0271.0871,084
2021-01-0171.8570,849
2020-12-3171.4571,457
2020-12-3071.7070,701
2020-12-2971.3871,379
2020-12-2870.2770,269
2020-12-2770.9969,992
2020-12-2670.9969,992
2020-12-2570.8669,856
2020-12-2470.9869,980
2020-12-2369.2569,257
2020-12-2271.2971,285
2020-12-2170.0070,006
2020-12-2070.0070,006
2020-12-1970.0270,021
2020-12-1870.3670,364
2020-12-1768.8167,809
2020-12-1666.3866,384
2020-12-1565.8464,842
2020-12-1465.0965,094
2020-12-1365.0965,094
2020-12-1265.2165,207
2020-12-1165.1265,114
2020-12-1064.4264,414
2020-12-0967.9666,955
2020-12-0867.1867,188
2020-12-0766.8165,813
2020-12-0666.8165,813
2020-12-0566.6665,665
2020-12-0465.2565,250
2020-12-0365.9764,974
2020-12-0265.8764,871
2020-12-0162.5761,560
2020-11-3060.2260,215
2020-11-0365.5364,522
2020-11-0263.3363,336
2020-11-0164.8763,865
2020-10-3164.8363,826
2020-10-3063.8362,828
2020-10-2963.8062,799
2020-10-2865.2665,267
2020-10-2765.1165,112
2020-10-2666.7465,737
2020-10-2566.7465,737
2020-10-2466.6565,652
2020-10-2366.8165,808
2020-10-2267.7466,740
2020-10-2166.0666,059
2020-10-2064.4264,411
2020-10-1964.2264,220
2020-10-1864.2264,220
2020-10-1764.4764,467
2020-10-1664.2964,298
2020-10-1564.4664,458
2020-10-1464.1964,198
2020-10-1367.6966,689
2020-10-1266.4266,412
2020-10-1166.4266,412
2020-10-1066.1366,138
2020-10-0963.3563,357
2020-10-0863.1163,112
2020-10-0763.9862,981
2020-10-0665.5264,516
2020-10-0563.9262,919
2020-10-0463.9262,919
2020-10-0363.2563,253
2020-10-0264.5563,548
2020-10-0162.2662,260

Historical Price of Silver Rate In Mumbai

Trend of Silver Rate in Mumbai for October 2020 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
October 1st Rate64.8363,826
October 31th Rate62.2662,260
Highest October Rate67.7466,740
Lowest October Rate62.2662,260

Trend of Silver Rate in Mumbai for November 2020 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
November 1st Rate60.2260,215
November 30th Rate64.8763,865
Highest November Rate65.5364,522
Lowest November Rate60.2260,215

Trend of Silver Rate in Mumbai for December 2020 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
December 1st Rate71.4571,457
December 31th Rate62.5761,560
Highest December Rate71.4571,457
Lowest December Rate62.5761,560

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

Silver Rates1 gram1 Kg
January 1st Rate67.8166,810
January 24th Rate71.8570,849
Highest January Rate74.2874,279
Lowest January Rate67.7766,773

Trend of Silver Rate in Mumbai for September 2020 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
September 1st Rate65.8864,880
September 30th Rate75.1875,178
Highest September Rate75.1875,178
Lowest September Rate61.7960,787

Trend of Silver Rate in Mumbai for August 2020 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
August 1st Rate74.1674,160
August 31th Rate66.1666,163
Highest August Rate79.9378,933
Lowest August Rate66.8965,892

Trend of Silver Rate in Mumbai for July 2020 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
July 2nd Rate64.8963,894
July 31th Rate49.2149,211
Highest July Rate70.2270,218
Lowest July Rate49.6448,640

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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