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Today Silver Rates In Mumbai

27 May 2024

silver rate today india

₹75.64

( Per Gram )

silver price today

₹75640

1 Kg

Silver Price TodaySilver Rate YesterdayChange(%)
1 gram75.6474.711.23%
10 gram75640747061.23%

Silver Rates In Mumbai for Last 90 Days

27 May 2024

Date1 gramBar Silver 1KG
2023-11-27₹ 76.64₹ 75,640
2023-11-26₹ 75.71₹ 74,706
2023-11-25₹ 75.71₹ 74,706
2023-11-24₹ 73.76₹ 72,759
2023-11-23₹ 73.72₹ 72,717
2023-11-22₹ 73.03₹ 73,031
2023-11-21₹ 72.48₹ 72,476
2023-11-20₹ 73.66₹ 72,656
2023-11-19₹ 73.84₹ 72,839
2023-11-18₹ 73.84₹ 72,839
2023-11-17₹ 73.07₹ 73,074
2023-11-16₹ 72.53₹ 71,527
2023-11-15₹ 71.60₹ 70,597
2023-11-14₹ 69.59₹ 68,590
2023-11-13₹ 68.04₹ 68,037
2023-11-12₹ 68.36₹ 68,356
2023-11-11₹ 68.36₹ 68,356
2023-11-10₹ 70.64₹ 69,642
2023-11-09₹ 69.42₹ 69,420
2023-11-08₹ 69.26₹ 69,264
2023-11-07₹ 70.35₹ 70,349
2023-11-06₹ 71.03₹ 71,030
2023-11-05₹ 71.15₹ 71,150
2023-11-04₹ 71.15₹ 71,150
2023-11-03₹ 70.50₹ 69,497
2023-11-02₹ 70.48₹ 70,481
2023-11-01₹ 70.71₹ 69,714
2023-10-31₹ 71.35₹ 71,353
2023-10-30₹ 71.91₹ 70,912
2023-10-29₹ 71.07₹ 71,067
2023-10-28₹ 71.07₹ 71,067
2023-10-27₹ 70.01₹ 70,010
2023-10-26₹ 70.30₹ 70,296
2023-10-25₹ 70.30₹ 70,301
2023-10-24₹ 71.66₹ 70,658
2023-10-23₹ 71.94₹ 70,942
2023-10-22₹ 72.69₹ 71,695
2023-10-21₹ 72.69₹ 71,695
2023-10-20₹ 71.76₹ 70,759
2023-10-19₹ 70.07₹ 70,070
2023-10-18₹ 70.11₹ 70,114
2023-10-17₹ 69.89₹ 68,892
2023-10-16₹ 69.39₹ 69,393
2023-10-15₹ 70.72₹ 69,716
2023-10-14₹ 70.72₹ 69,716
2023-10-13₹ 67.16₹ 67,155
2023-10-12₹ 68.82₹ 67,823
2023-10-11₹ 67.05₹ 67,047
2023-10-10₹ 67.06₹ 67,062
2023-10-08₹ 66.30₹ 66,299
2023-10-07₹ 66.30₹ 66,299
2023-10-06₹ 64.47₹ 64,470
2023-10-05₹ 65.00₹ 64,996
2023-10-04₹ 64.49₹ 64,492
2023-10-03₹ 64.95₹ 63,950
2023-10-02₹ 67.29₹ 67,294
2023-10-01₹ 68.94₹ 67,940
2023-09-30₹ 68.06₹ 68,057
2023-09-29₹ 70.52₹ 69,518
2023-09-28₹ 69.08₹ 69,082
2023-09-27₹ 70.11₹ 70,111
2023-09-26₹ 71.73₹ 70,726
2023-09-25₹ 72.06₹ 72,060
2023-09-24₹ 72.13₹ 72,128
2023-09-23₹ 72.13₹ 72,128
2023-09-22₹ 72.67₹ 71,671
2023-09-21₹ 71.85₹ 70,852
2023-09-20₹ 71.97₹ 70,971
2023-09-19₹ 71.29₹ 71,293
2023-09-18₹ 71.84₹ 70,842
2023-09-17₹ 71.50₹ 70,497
2023-09-16₹ 71.50₹ 70,497
2023-09-15₹ 70.09₹ 70,092
2023-09-14₹ 70.08₹ 70,079
2023-09-13₹ 70.21₹ 70,206
2023-09-12₹ 71.55₹ 70,554
2023-09-11₹ 70.40₹ 70,399
2023-09-10₹ 70.25₹ 70,255
2023-09-09₹ 70.25₹ 70,255
2023-09-08₹ 71.78₹ 70,784
2023-09-07₹ 71.98₹ 70,984
2023-09-06₹ 72.94₹ 71,941
2023-09-05₹ 73.81₹ 72,810
2023-09-04₹ 74.70₹ 73,703
2023-09-03₹ 74.71₹ 73,714
2023-09-02₹ 74.71₹ 73,714
2023-09-01₹ 75.70₹ 74,704
2023-08-31₹ 75.05₹ 75,051
2023-08-30₹ 75.10₹ 75,100
2023-08-29₹ 74.75₹ 73,751
IDFC MILLENIA MALE

Historical Price of Silver Rate In Mumbai

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.

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

Also Read: Gold Rate Today

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.

Also Read: Gold Rate In Mumbai

FAQs – Today 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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