While investing in the silver market, you need to be aware of certain things that affect the Silver Rate in Mumbai.
As you may know that, Mumbai being the financial hub of this country, there are innumerable investors who invest in this commodity daily.
Thus, you need to know the facts and aspects of the commodity to understand its price movement and make an informed decision about your investment in silver.
Here, in this article, you will find the Silver Rate in Mumbai Live that is the price is interlinked to the real-time data.
Thus, it gets updated all the time and whenever you visit the page, you can see the current price of the commodity and also the price of the commodity as on the previous day.
However, the article here is not only about numbers. The article contains various price mechanism and features and aspects which an investor must know to optimize his or her profit from the investment.
Silver Rate in Mumbai – 10 gm, 100 gm & 1 kg Silver Price in Mumbai Today
Whether you are trading or investing, you need to keep a track of the investment and trade positions. This page contains Silver Price in Mumbai Today and of the previous day. This gives you complete information about any price change that has occurred in the last 24 hours.
For an intraday trader, it is crucial and if you are a long-term investor, then you can use the same for deciding your entry and exit points in the market.
The table above has a price for three different quantities of silver that are 1 Kg Silver Rate in Mumbai, 10 grams of silver, and also for 100 grams of silver.
So, you get an idea about how price moved in 24 hours and also the change is mentioned in numbers as well as in percentage. This helps you understand the performance better. Moreover, the performance is also mentioned in the table to make it all easy for the investors.
Also, Check out the Gold Rate in Mumbai Today
Silver Price in Mumbai for Last 15 Days
In this section, you will find the last fifteen days’ Silver Price in Mumbai. The city of Mumbai is a place for investors and especially the traders and for them, these fifteen days’ data is highly important.
They observe this data and analyze the price trend. The price trend further helps in understanding the entry and exit points in the market. It also helps you predict the future price of the commodity.
Here, we have given the price for 10 grams of silver in the city of Mumbai. The prices are given in a chronological way as you can see in the table.
Find Silver Rates of Top Indian Cities & States
Silver Price in Mumbai – Past 6 Months Price
Below, there is Silver Rate in Mumbai for the past six months starting from June 2020. These six months’ data is crucial for any investor. An investor needs to understand the past performance of the asset to invest in it for the long-term.
These data of six months can easily help the investors to understand the demand and supply and other factors affecting the price of the silver.
It will give him or her the ground to analyze how the price of the commodity moved when a certain event took place and accordingly, they can decide their future investments.
Thus, we have herein mentioned previous six months’ price information and other crucial performance details.
August 2020, Silver Rate Movement in Mumbai
|August-20||Silver Rate per KG|
|1st August 2020||₹ 65,110|
|8th August 2020||₹ 74,200|
|15th August 2020||₹ 68,000|
|22nd August 2020||₹ 67,100|
|31st August 2020||₹ 66,600|
|Highest Price||₹ 76,510|
|Lowest Price||₹ 65,000|
We have compiled a lot of data for your concern, which is related to Silver Rate in Mumbai. This section primarily focuses on the month of August and has all the details you need to know and learn about the price fluctuations. Furthermore, you can easily read the data, as it is given to you in tabular form.
- You can see data in respect to the opening price, closing price, and first day of each week, provided in KG expression, the most used numeric.
- The opening price of the metal for the month is Rs.65,110, whereas the closing price of the metal was recorded as Rs.66,600
- You must take the highest price into account for the next consideration, which was Rs.76,510
- The next consideration must be the lowest price, which was Rs.65,000
- To give you the idea about the change in price which happened across the month, it was 18%
July 2020, Silver Rate Movement in Mumbai
|Jul-20||Silver Rate per KG|
|1st July 2020||₹ 50,050|
|8th July 2020||₹ 50,020|
|15th July 2020||₹ 53,000|
|22nd July 2020||₹ 58,950|
|31st July 2020||₹ 65,000|
|Highest Price||₹ 66,050|
|Lowest Price||₹ 48,500|
Take a quick look at the table to figure out how the price trends, i.e. Silver Rate in Mumbai have been varying. You can accordingly construct your strategies and also mediums of investments. Pick up your call based on the data we have provided.
- We show you the opening price of the month and the end or the closing price of the month.
- The first mention in the table is of the opening price being Rs.50,050, which led the metal to a closing price of Rs.65,000.
- The metal experienced the price growth till the point of Rs.66,050
- On the contrary, the price level witnessed a dip of up to Rs.48,500 across the entire month.
- We commuted the change which took place across the month and it stood at 36%.
June 2020, Silver Rate Movement in Mumbai
|Jun-20||Silver Rate per KG|
|1st June,2020||₹ 50,150|
|31st June,2020||₹ 48,550|
|Highest Price||₹ 50,160 per Kg|
|Lowest Price||₹ 47,100 per Kg|
View the likely changes and shifts which occurred across the entire month. The table on Silver Rate in Mumbai is provided for a quick facilitation, whereas the following pointers explain all the likely variations in price that occurred, in brief.
- You can easily consider the table provide to you here, which has all the figures in terms of KG. Here the opening, closing, highest and the closing price of the metal has been provided.
- Here is the first price point of our study – Rs.50,150, which was reportedly the opening price of the metal. We have Rs.48,550 as the closing point of the metal for the second price point.
- Our further consideration is the highest price level of the entire month, which was Rs.50,160.
- We further checked out the lowest price level of the month which stood at Rs.47,100.
- After all the price levels, we commuted the percentage change was stable at 6.50%.
May 2020, Silver Rates in Mumbai
|May-20||Silver Rate per KG|
|1st May,2020||₹ 41,000|
|31st May,2020||₹ 50,110|
|Highest Price||50,110/- per Kg on 31st May,2020|
|Lowest Price||41,000/- per Kg on 1st May,2020|
This section is for the Silver Rates in Mumbai for the month of May. This month has witnessed some drastic changes in the price so stay tuned and read below to find more details –
- The month started at a price which was Rs. 41000, after a fall from the previous day’s price. Though the month starting wasn’t that good the remaining of the month, it was better than expected.
- The final price of silver in this city for May was Rs. 50110. The price itself suggests the enormous gain that made the price of silver to boom within a month.
- Performance metric says that the price of silver went up by 22.22% in this month.
- The highest price and the lowest price of the commodity in this month was Rs. 50110 and Rs. 41000 respectively.
- These two numbers show the huge difference or gap and that depicts the highly volatile silver market for May.
April 2020, Silver Rate Movement in Mumbai
|Apr-20||Silver Rate per KG|
|1st April,2020||₹ 39,940|
|30th April,2020||₹ 42,520|
|Highest Price||Rs. 42,700/- per Kg on 20th April,2020|
|Lowest Price||Rs. 39,940/- per Kg on 1st April,2020|
In this month, Silver Rate Movement in Mumbai has been described and analyzed over here –
- The Silver Rate in Mumbai per kilo Gram has been given here for the first and the last day of the month.
- The price on the first day was Rs. 39940 and then it went up to Rs. 42520 on the last day of the month.
- In between, the prices moved up and down and thus the highest price reached this month was Rs. 42700 on the 20th of the month.
- While the lowest price was Rs. 39940 only which was on the 1st of April.
- The difference between the prices suggests the mild volatility that was present in the market for silver.
- The performance of the commodity this month was moderate and it gained around 6.46% overall.
March 2020, Silver Rate Movement in Mumbai
|Mar-20||Silver Rate per KG|
|1st March,2020||₹ 48,500|
|31st March,2020||₹ 39,480|
|Highest Price||Rs. 51,080/- per Kg on 7th March,2020|
|Lowest Price||Rs. 39,480/- per Kg on 31st March,2020|
In the month of March, Silver Price Movement in Mumbai was very disheartening for the investors and if you are thinking of investing in this commodity you need to analyze this month price movement very critically –
- The Silver Price in Mumbai per kilo Gram was at Rs. 48500 at the beginning of March. The commodity was performing well and went up further.
- On the 7th of March, it achieved the highest price for the month which was Rs. 51080. Since then, though it performed well, it couldn’t surpass this price.
- Post that, the price started falling drastically. Towards the end of the month, the price dipped too low.
- The final price of silver in the city of Mumbai was Rs. 39480 on the last day of the month.
- The performance metric shows a drop of 18.6% which is very high for a single month.
February 2020, Silver Price Movement in Mumbai
|Feb-20||Silver Rate per KG|
|15th February,2020||₹ 49,500|
|29th February,2020||₹ 48,500|
|Highest Price||Rs. 51,500/- per Kg on 24th February,2020|
|Lowest Price||Rs. 48,500/- per Kg on 29th February,2020|
In February 2020, the price of silver was down but not as seen above for the month of March. Let us discuss the important prices and aspects for this month regarding the Silver Rate in Mumbai per gram.
- On the 15th of February, the price of silver was Rs. 49500. The price of the commodity was on a rise during the first few weeks of the month.
- Later, towards the end of the month, the price of silver declined and went to Rs. 48500 on the 29th of February.
- Around the starting of the fourth week, the price went up and the highest price for this month was recorded on the 24th of the month only which was Rs. 51500.
- The lowest price is the price which was reached on the last day of the month and this suggests that the price was going down as the month-end was nearer.
- The overall performance was in the negatives and the price fell by 2.02%, in general, this month.
January 2020, Silver Price Movement in Mumbai
|Jan-20||Silver Rate per KG|
|1st January,2020||₹ 49,350|
|23rd January,2020||₹ 49,000|
|Highest Price||Rs. 51,000/- per Kg on 6th January,2020|
|Lowest Price||Rs. 48,900/- per Kg on 14th January,2020|
In this section, you will find the price details for silver for January which is the starting month of 2020.
- The price of silver was stable during the first week of the month and it started for Rs. 49350 in this month.
- The price further went up and around the end of the first week, it reached Rs. 51000 which was the highest price for this month.
- However, in the second week, the lowest price was also reached and thus it suggests that the price was falling after reaching the peak for the month.
- The lowest price was Rs. 48900 and thus the difference between the highest and the lowest is not too high and thus it suggests mild to a negligible level of volatility.
- The price of the commodity fell by 0.71% in this month.
December 2019, Silver Rate Movement in Mumbai
|Dec-19||Silver Rate per KG|
|1st December,2019||₹ 46,650|
|31st December,2019||₹ 49,350|
|Highest Price||Rs. 49,350/- per Kg on 31st December,2019|
|Lowest Price||Rs. 46,650/- per Kg on 1st December,2019|
The Silver Rate in Mumbai has been discussed in this section for the month of December 2019 which is the last month out of these six months –
- In the initial weeks of the month, the price was more or less stable. Silver in Mumbai has a price tag of Rs. 46650 at the beginning of the month.
- Further, the price increased and by the end of the month, the price reached Rs. 49350. So, there has been a good rise in the price of the commodity.
- The highest and lowest price was Rs. 49350 and Rs. 46650 only which were the prices on the first and last day of the month.
- This suggests that the price increased gradually throughout the month. There was almost no volatility in the market for the silver price.
- The overall increase in the price was 5.79% this month which is a good average gain for a year-end.
Silver Rate in Mumbai – Trend in 2020
This year, we all know the markets are in turmoil due to lockdown and the pandemic situation. Thus, the Silver Rate Trend in Mumbai has been so robust and disturbing for this year up till now.
When corona virus striked our country, Mumbai became the most dangerous city and several cases were growing in this city rapidly, which made the investors use their silver assets.
Thus, the price dipped so low in March but then in the month of April and May, it started increasing again and in May the price marked a new high.
So, in brief, the year till now has been too volatile and the fluctuating prices are boon on one hand for the traders while a worry for the investors.
Check out Silver Rates of other Indian Cities & States
Silver Rate in Mumbai – Trend in 2019
If you are looking at the Silver Rate Trend 2019 in Mumbai, then you can find the continuous up and down in the price of the commodity throughout the month.
The prices went up during the initial months and then, dipped for the next few months starting from the mid of the month.
Overall silver performed well this year as well. Due to different international market movements, the price also moved in a volatile manner but not like this year.
If you are looking for the historical prices of silvers then this is the place where you can find the same.
What makes Silver Rates in Mumbai to increase or decrease?
Reasons which make Silver Rate in Mumbai as on today to go up and down can be –
- Demand and supply of the commodity. Yes, if the demand increases than the supply of the silver, then the price of the commodity will increase as per the demand, and if the supply increases, then the price will fall.
- Inflation plays a great role in determining the price of silver as well. If there is high inflation in the market, then the price of silver is bound to go up and vice versa.
- The currency value also determines the price of silver. If the currency is appreciating then you can expect the price of silver to be less expensive and if the currency of our country depreciates, then you have to pay more for buying the same amount of silver.
- It is also correlated to the price of gold. Gold prices if going up the price of silver will also follow in most of the scenarios and vice versa.
What are the various measuring units of Silver in Mumbai?
The measuring units for Silver in Mumbai are ounces. It is the basic measuring unit for silver especially when you are talking about silver ornaments.
However, the common measuring units are grams and kilograms for measuring silver when purchased in bulk.
One ounce is 28.35 grams of silver so, you can convert and also measure the same.
How much is the Tax Levied on Silver Rate in Mumbai?
As you buy any goods or services you need to pay taxes and silver is not any exception. The Tax on Silver Rate in Mumbai is 3% GST which is levied on the silver purchase of yours.
The price given above is all excluding the taxes and thus, you need to add the same when calculating the final price of the silver.
Find Silver Rates of other Indian Cities & States
|Silver Rate in Uttar Pradesh||Silver Rate in Bhubaneswar||Silver Rate in Jaipur|
|Silver Rate in West Bengal||Silver Rate in Chandigarh||Silver Rate in Lucknow|
|Silver Rate in Ahmedabad||Silver Rate in Coimbatore||Silver Rate in Patna|
How to check Silver purity in Mumbai?
It is important to understand whether the silver you are purchasing is pure or not. Pure silver contains 92.5% of silver in the alloy and rest is copper.
Copper is used for strengthening the silver and make it much more durable. The Pure Silver Rate in Mumbai can be checked from this page as given above.
Silver Rate in Mumbai – Conclusion
For investing in silver you need to thoroughly understand the mechanism of Silver Rate in Mumbai. If you can understand how and why the prices are moving, you can easily track down your trading strategies.
We hope you find this article useful as we have tried our best to gather as much information as possible for the silver pricing in the city of Mumbai.