Silver Price Today in Mumbai — 31 March 2026
Last updated: 30 March 2026
| Weight | Silver |
|---|---|
| 1g | ₹229 |
| 8g | ₹1,832 |
| 10g | ₹2,290 |
| 100g | ₹22,900 |
| 1kg | ₹2,29,000 |
Mumbai is one of India's active silver markets. Silver prices in Mumbai typically align with national MCX rates, with minor variations based on local jeweller associations and state taxes. Today, silver in Mumbai is priced at ₹229 per gram.
Silver demand in Mumbai peaks during festivals and weddings. The city's jewellery market offers both traditional and modern silver designs. Making charges vary by design complexity.
30-Day Silver Price Trend in Mumbai
Factors Affecting Silver Price in Mumbai
Silver prices in Mumbai follow MCX benchmarks, influenced by global spot prices, rupee-dollar exchange rates, and import duties. Industrial demand also affects silver rates.
State taxes in Maharashtra apply to silver jewellery. GST of 3% is uniform, but local levies may create small city-to-city differences.
Demand cycles in Mumbai—during festivals, weddings, and local occasions—can cause short-term price fluctuations at the retail level.
Mumbai vs Nearby Cities
Frequently Asked Questions
What is the silver price in Mumbai today?
Today's silver price in Mumbai is shown in the table above. Rates may vary slightly by jeweller.
Why does silver price differ between cities?
Silver prices differ due to state taxes, local association rates, and demand.
Where can I buy silver in Mumbai?
Mumbai has numerous jewellers selling silver. Look for purity marks and compare rates.
How is GST applied on silver?
GST of 3% applies on silver jewellery across India.
Gold & Silver Prices in Other Cities
Compare silver prices in Mumbai with nearby cities: