MoneyUpdated 9 Sep 2026, 03:16 · indicative reference · day range ₹228,215–₹232,287 per kg
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Detailed silver rates in Mumbai
| Purity | 1 g | 10 g | 100 g | 1 kg |
|---|---|---|---|---|
| 999 (Fine) | ₹231 | ₹2,313 | ₹23,125 | ₹231,252 |
Figures are the metal value only — jeweller making charges and 3% GST are added on top.
10-day silver price trend — Mumbai
| Date | 999 close / kg | Change |
|---|---|---|
| 09 Sep | ₹231,545 | +₹2,754 |
| 08 Sep | ₹228,791 | +₹863 |
| 04 Sep | ₹227,928 | −₹3,196 |
| 03 Sep | ₹231,124 | +₹7,766 |
| 02 Sep | ₹223,359 | +₹362 |
| 01 Sep | ₹222,997 | −₹5,532 |
| 31 Aug | ₹228,529 | −₹2,670 |
| 28 Aug | ₹231,199 | −₹8,400 |
| 27 Aug | ₹239,599 | +₹4,966 |
| 26 Aug | ₹234,633 | −₹2,229 |
Silver rate in Mumbai — local context
Mumbai is home to the India Bullion & Jewellers Association (IBJA), whose published rates most Indian jewellers use as their daily benchmark. Rates here track the national reference closely.
GST on silver is a uniform 3% across Maharashtra and the rest of India, so the price you pay in Mumbai differs from other cities mainly by the local retail premium jewellers apply over the IBJA benchmark and by making-charge conventions — typically 1–2% on the metal value.
Frequently asked questions
What is the silver price in Mumbai today?
As of 9 Sep 2026, the indicative 999 silver rate in Mumbai is about ₹231,252 per kg (₹231.25 per gram). Rates update through the day and exclude jeweller making charges.
Why does the silver rate differ between Indian cities?
GST on silver is a uniform 3% across India, so state-level differences are now small. Remaining variation comes from local jewellers’ association benchmarks, transport and insurance from bullion hubs, coin/bar premiums and local demand.
How is the silver rate in India calculated?
The pan-India reference rate is derived from the international silver price (US dollars per troy ounce) converted to rupees per gram at the live USD/INR rate, then adjusted for India’s import duty and 3% GST. Jewellers add making charges and hallmarking on top.
Is GST included in the silver rate shown here?
The headline per-gram rate is the metal value only. The calculator on this page adds 3% GST and optional making charges so you can see the final billed amount.
What will silver prices be tomorrow?
No one can reliably predict the next day’s silver price. It moves with the international silver price, the US dollar, interest-rate expectations and safe-haven demand. This page updates through the day so you can track the trend.