Why is the silver rate in Mumbai different from other cities?

The silver price in Mumbai carries a regional logistics adjustment of +₹0/kg compared to national port benchmarks. Differences reflect interstate bullion transportation, local vault storage, and demand patterns across Zaveri Bazaar, Kalbadevi, Dadar Bullion Market, Bandra Turner Road.

Where are the major silver bullion markets in Mumbai?

The primary wholesale and retail silver exchanges in Mumbai are concentrated around Zaveri Bazaar, Kalbadevi, Dadar Bullion Market, Bandra Turner Road, where local bullion dealers quote daily hallmark bullion rates.

How can I verify silver purity when buying in Mumbai?

Always ensure your silver jewellery or bar has the official BIS Hallmark logo alongside purity indicators (999 for 99.9% fine silver or 925 for 92.5% sterling silver). Request a tax invoice specifying the weight, purity, and 3% GST breakdown.

Mumbai, Maharashtra • Regional Rate Desk (West India)

Silver Rate in Mumbai Today

Indicative daily physical retail silver benchmark for Mumbai. Calculated from spot parity, composite landed import adjustments, regional logistics premium (+₹0/kg), and applicable statutory 3% retail GST. Refreshed: 07:02 am IST.

Mumbai 1 Gram (999 Pure)

₹189.15

Incl. 3% GST • Base: ₹183.64

Mumbai 10 Grams (Tola)

₹1,891.49

Popular Coin Weight • 925 Jewelry: ₹1,749.63

Mumbai 1 Kilogram (Bar)Benchmark

₹1,89,149.2

Standard Bullion Bar • Incl. 3% GST

Mumbai Silver Price Table • Today's Rates

Comparison across 999 Fine Bullion and 925 Sterling Jewelry Silver (Snapshot: 2026-11-03)

Local Markup: +₹0/kg

Denomination	999 Pure (Base)	999 Pure (Incl. 3% GST)	925 Jewelry (Base)	925 Jewelry (Incl. 3% GST)
1 Gram	₹183.64	₹189.15	₹169.87	₹174.97
8 Grams (Pavalam)	₹1,469.12	₹1,513.19	₹1,358.94	₹1,399.71
10 Grams (Tola)	₹1,836.4	₹1,891.49	₹1,698.67	₹1,749.63
100 Grams	₹18,364	₹18,914.92	₹16,986.7	₹17,496.3
1 Kilogram (1000g)	₹1,83,640	₹1,89,149.2	₹1,69,867	₹1,74,963.01

Local Silver Markets & Bullion Hubs in Mumbai

Prominent Bullion & Jewellery Markets:

Zaveri BazaarKalbadeviDadar Bullion MarketBandra Turner Road

Mumbai is India's premier bullion trading capital and primary port-of-entry for imported silver bars. Daily physical spot rates set in Zaveri Bazaar directly reflect COMEX parity, customs tariff notifications, and MCX near-month futures, acting as the national pricing benchmark.

Demand & Consumption Profile:

Heavy institutional bullion bar procurement, wholesale inter-state trade, industrial brazing alloys, and high-volume retail gifting coins.

Mumbai Precious Metals Compliance & Tips

Regional Trade Body

India Bullion and Jewellers Association (IBJA) & Bombay Bullion Association

BIS Hallmarking & Assaying

Zaveri Bazaar BIS Hallmarking & Assaying Hub, Mumbai Central

Always demand a computerized bill specifying weight, purity, and statutory 3% GST.
Verify the official BIS Hallmark stamp (999 for investment bars, 925 for ornaments).
Compare making charges across Zaveri Bazaar dealers before committing to large silverware purchases.

Quick Silver Converter

Live Formula

Enter Weight

Silver Purity

Include 3% GST

Estimated Total Retail Price

₹1,891

Pure Metal Base Value (10g @ ₹183.64/g):₹1,836

Retail GST (3%):+₹55

Frequently Asked Questions: Silver Rate in Mumbai

Important guidelines for purchasing and selling physical silver in Mumbai.

Today in Mumbai, 1kg of 999 fine silver is ₹1,89,149.2 (including 3% GST), and 10 grams costs ₹1,891.49. For 925 sterling jewelry silver, 10 grams is ₹1,749.63.