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Today Silver Rates In Mumbai

26 May 2022

silver rate today india

₹62.80

( Per Gram )

silver price today

₹62800

1 Kg

Silver Price TodaySilver Rate YesterdayChange(%)
1 gram62.8063.10-0.48%
10 gram6280063096-0.47%

Silver Rates In Mumbai for Last 90 Days

26 May 2022

Date1 gramBar Silver 1KG
2022-05-26₹ 63.80₹ 62,800
2022-05-25₹ 63.10₹ 63,096
2022-05-24₹ 62.11₹ 62,108
2022-05-23₹ 63.02₹ 63,017
2022-05-22₹ 62.39₹ 62,385
2022-05-21₹ 62.39₹ 62,385
2022-05-20₹ 63.51₹ 62,509
2022-05-19₹ 61.29₹ 61,286
2022-05-18₹ 62.65₹ 61,645
2022-05-17₹ 62.95₹ 61,950
2022-05-16₹ 61.57₹ 60,566
2022-05-15₹ 60.29₹ 60,291
2022-05-14₹ 60.29₹ 60,291
2022-05-13₹ 59.16₹ 59,156
2022-05-12₹ 62.52₹ 61,528
2022-05-11₹ 61.58₹ 60,578
2022-05-10₹ 62.22₹ 62,226
2022-05-09₹ 63.32₹ 63,320
2022-05-08₹ 63.42₹ 63,422
2022-05-07₹ 63.42₹ 63,422
2022-05-06₹ 64.55₹ 63,549
2022-05-05₹ 64.46₹ 64,454
2022-05-04₹ 64.70₹ 63,690
2022-05-03₹ 64.16₹ 64,153
2022-05-02₹ 64.97₹ 63,971
2022-05-01₹ 66.27₹ 66,270
2022-04-30₹ 66.27₹ 66,270
2022-04-29₹ 66.35₹ 66,353
2022-04-28₹ 66.25₹ 66,251
2022-04-27₹ 67.66₹ 66,660
2022-04-26₹ 67.83₹ 66,830
2022-04-25₹ 68.11₹ 68,107
2022-04-24₹ 68.09₹ 68,092
2022-04-23₹ 68.09₹ 68,091
2022-04-22₹ 68.31₹ 68,303
2022-04-21₹ 71.71₹ 70,710
2022-04-20₹ 71.82₹ 70,818
2022-04-19₹ 73.72₹ 72,718
2022-04-18₹ 73.70₹ 72,700
2022-04-17₹ 72.20₹ 72,208
2022-04-16₹ 72.20₹ 72,208
2022-04-15₹ 72.17₹ 72,173
2022-04-14₹ 72.02₹ 72,022
2022-04-13₹ 71.23₹ 71,225
2022-04-11₹ 69.39₹ 69,385
2022-04-10₹ 69.33₹ 69,339
2022-04-09₹ 69.33₹ 69,339
2022-04-08₹ 69.86₹ 68,862
2022-04-07₹ 68.23₹ 68,228
2022-04-06₹ 68.65₹ 67,651
2022-04-05₹ 68.21₹ 68,215
2022-04-04₹ 69.05₹ 69,041
2022-04-03₹ 69.92₹ 68,926
2022-04-02₹ 69.92₹ 68,925
2022-04-01₹ 69.29₹ 69,295
2022-03-31₹ 70.60₹ 69,598
2022-03-30₹ 69.99₹ 68,999
2022-03-29₹ 70.53₹ 69,530
2022-03-28₹ 72.62₹ 71,614
2022-03-27₹ 72.74₹ 71,743
2022-03-26₹ 72.55₹ 71,550
2022-03-25₹ 72.77₹ 71,769
2022-03-24₹ 71.77₹ 70,776
2022-03-23₹ 69.32₹ 69,323
2022-03-22₹ 71.97₹ 70,973
2022-03-21₹ 70.77₹ 69,763
2022-03-20₹ 70.78₹ 69,777
2022-03-19₹ 70.78₹ 69,777
2022-03-18₹ 71.11₹ 71,117
2022-03-17₹ 70.46₹ 70,460
2022-03-16₹ 70.15₹ 70,146
2022-03-15₹ 71.61₹ 70,612
2022-03-14₹ 73.58₹ 72,579
2022-03-13₹ 73.05₹ 73,051
2022-03-12₹ 73.05₹ 73,051
2022-03-11₹ 73.94₹ 72,934
2022-03-10₹ 72.75₹ 71,757
2022-03-09₹ 75.64₹ 74,645
2022-03-07₹ 73.38₹ 73,378
2022-03-06₹ 72.40₹ 72,396
2022-03-05₹ 72.40₹ 72,396
2022-03-04₹ 70.48₹ 70,472
2022-03-02₹ 71.89₹ 70,885
2022-03-01₹ 68.90₹ 67,905
2022-02-28₹ 68.66₹ 67,661
2022-02-27₹ 67.11₹ 67,108
2022-02-26₹ 67.14₹ 67,139
2022-02-25₹ 68.80₹ 67,798
2022-02-24₹ 68.67₹ 67,665
2022-02-23₹ 66.40₹ 66,404

Historical Price of Silver Rate In Mumbai

Trend of Silver Rate in Mumbai for May 2022 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
May 1st Rate63.8062,800
May 26th Rate66.2766,270
Highest May Rate66.2766,270
Lowest May Rate59.1659,156

Trend of Silver Rate in Mumbai for April 2022 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
April 1st Rate66.2766,270
April 30th Rate69.2969,295
Highest April Rate73.7272,718
Lowest April Rate66.2566,251

Trend of Silver Rate in Mumbai for March 2022 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
March 1st Rate70.6069,598
March 31th Rate68.9067,905
Highest March Rate75.6474,645
Lowest March Rate68.967,905

Trend of Silver Rate in Mumbai for February 2022 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
February 1st Rate68.6667,661
February 28th Rate62.7761,772
Highest February Rate68.867,798
Lowest February Rate62.7361,731

Trend of Silver Rate in Mumbai for January 2022 (Rates per gram for 1Gram / 1Kg Silver)

Silver Rates1 gram1 Kg
January 1st Rate62.9661,953
January 31th Rate64.9363,933
Highest January Rate67.8566,851
Lowest January Rate61.9160,907

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

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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