Maharashtra · 28 October 2026 · 12:19 AM IST
| Weight | Base Price | Incl. GST (3%) | 925 Sterling |
|---|---|---|---|
| 1 Gram | ₹221.10 | ₹227.73 | ₹204.52 |
| 5 Grams | ₹1,105.50 | ₹1,138.66 | ₹1,022.59 |
| 10 Grams | ₹2,211.00 | ₹2,277.33 | ₹2,045.18 |
| 1 Tola (11.66g) | ₹2,578.87 | ₹2,656.24 | ₹2,385.45 |
| 100 Grams | ₹22,110.00 | ₹22,773.30 | ₹20,451.75 |
| 500 Grams | ₹110,550.00 | ₹113,866.50 | ₹102,258.75 |
| 1 Kilogram | ₹221,100 | ₹227,733 | ₹204,518 |
| 1 Troy Oz | ₹6,876.98 | ₹7,083.29 | ₹6,361.21 |
Today's decline in silver prices to Rs.221.1/gram in Mumbai follows a reduction of Rs.0.28/gram, possibly influenced by global economic factors. The local market sentiment remains cautious, given the ongoing international uncertainties and regional demand dynamics.
Global macroeconomic factors, such as the USD/INR exchange rate and US Federal Reserve interest rates, continue to impact silver prices. The USD/INR exchange rate's movements and the US Fed's monetary policy stance are key indicators of silver's international demand. Additionally, the Indian domestic factors, including MCX prices, Indian Bullion Jewellery Association (IBJA) rates, and festive demand, play a crucial role in shaping the local market. The recent import duty changes and the monsoon outlook also contribute to the overall sentiment and price movements in the Indian market.
Local consumers in Mumbai should consider the BIS hallmark standards for physical silver purchases to ensure quality and purity. For investment strategies, diversifying between physical silver and silver ETFs can provide a balanced approach. Physical silver can offer tangible value, while ETFs provide liquidity and convenience. Investors should monitor both global and local market trends, including international demand and domestic factors, to make informed decisions.
To securely buy physical silver or paper silver in Mumbai, start by identifying reputable dealers or bullion shops that comply with BIS standards. For paper silver, open a trading account with a trusted broker or platform. Verify the terms and conditions, including transaction fees and delivery mechanisms. For physical purchases, ensure the silver is marked with the correct hallmark. Lastly, consider using secure payment methods and confirm the delivery of the purchased silver.