Silver Rate in Mumbai Today
12 March 2026
📈 30-Day Price History — Mumbai
📋 Silver Rates by Weight — Mumbai
| Weight | Today (₹) | Yesterday (₹) | Change |
|---|---|---|---|
| 1 Gram | ₹301.98 | ₹302.80 | ▼ ₹0.82 (0.27%) |
| 8 Grams | ₹2,415.84 | ₹2,422.40 | ▼ |
| 10 Grams | ₹3,019.80 | ₹3,028.00 | ▼ |
| 100 Grams | ₹30,198.00 | ₹30,280.00 | ▼ |
| 1 Kilogram | ₹301,980.00 | ₹302,800.00 | ▼ |
| 1 Tola (11.66g) | ₹3,522.23 | ₹3,531.80 | ▼ |
| 1 Troy Ounce (31.1g) | ₹9,392.63 | ₹9,418.14 | ▼ |
🔍 Expert Market Analysis
🧮 Silver Price Calculator — Mumbai
* Indicative at ₹301.98/gram in Mumbai. Excludes GST & making charges.
❓ Frequently Asked Questions
Today's silver rate in Mumbai is ₹301.98 per gram and ₹301,980.00 per kilogram as of 12 March 2026. The price has decreased by ₹0.82 vs yesterday.
SilverJi.in updates silver prices every hour automatically. MCX also updates silver futures live during market hours (9 AM–11:30 PM IST).
Silver prices vary city-to-city due to local VAT/GST, transportation costs, jeweler margins, and state-specific duties.
999 fine silver means 99.9% purity — investment-grade standard. Jewelry silver is typically 925 sterling (92.5% pure). Always look for BIS hallmarks when buying in India.
GST on silver in India is 3% on metal value. Making charges attract 5% GST. Ensure your bill shows metal value, making charges, and GST separately.
Silver ETFs offer paper investment without storage costs. Physical BIS-hallmarked bars/coins suit long-term holders. Always consult a SEBI-registered advisor before investing.
🏙 Silver Rates in Other Cities Today
Silver Rate in Mumbai — Complete Guide 12 March 2026
Silver prices in Mumbai are influenced by global commodity markets, the LBMA fix, and India's MCX. The current rate of ₹301.98/gram in Mumbai reflects international spot prices and local factors in Maharashtra.
How is Silver Price Determined in Mumbai?
Silver price is derived from international USD spot price converted to INR, plus import duties (15%), GST (3%), and logistics from major hubs to Mumbai.
Best Places to Buy Silver in Mumbai
Buy from BIS-hallmarked jewelers, bank branches (SBI, HDFC, ICICI), reputed chains, or Silver ETFs for paper investment. Always demand a bill with purity, weight, rate, and GST breakup.
Silver as Investment in Maharashtra
Silver has been a trusted store of value in Maharashtra for centuries. Growing industrial demand from solar panels, EVs, and electronics adds to the traditional jewelry investment case.
Silver Price Range This Week in Mumbai
This week, silver in Mumbai has traded between ₹299.87 and ₹306.76 per gram — a range of ₹6.89/gram, reflecting current market volatility.
📊 Market Summary
Silver in Mumbai has decreased by ₹0.82/gram today, now at ₹301.98/gram. Bearish sentiment reflects global commodity trends.
💡 Expert Insight
Silver shows bearish signals from US Fed policy and industrial demand in solar/EV sectors. USD/INR movement and India import trends remain key drivers.
🛒 Buyer's Guide
Buy BIS hallmarked 999-purity silver from authorised dealers in Mumbai. Silver ETFs on NSE/BSE are ideal for paper investment without storage costs.