Mumbai Silver Rate Today: Silver Holds ₹240 Per Gram After Wednesday Rally

According to today’s rates, retail silver prices stood at ₹240 per gram, with no change compared to Wednesday. Buyers purchasing larger quantities continued to pay ₹2,40,000 for 1 kilogram of silver, indicating that the market has paused after its recent upward movement.

Silver maintained Wednesday’s gains without witnessing any fresh rise or decline on Thursday. The stable movement comes after the metal recorded a ₹5 per gram increase on Wednesday, as prices remained at the new level with neither significant selling pressure nor enough buying momentum to push rates higher.

For consumers planning to purchase silver jewellery or utensils, the steady prices provide a period of stability before the next market movement. Investors, meanwhile, are closely watching whether the current pause remains temporary or develops into a longer sideways trend.

Mumbai Silver Rate Today:

1 gram silver is priced at ₹240 with no change.
10 grams of silver is priced at ₹2,400 with no change.
100 grams of silver is priced at ₹24,000 with no change.
1 kilogram of silver is priced at ₹2,40,000 with no change.

After Wednesday’s Jump, Silver Takes a Pause

The silver market remained calm on Thursday after its previous session’s rally. Following the ₹5 per gram increase on Wednesday, silver prices stayed firm at the higher level throughout the day.

There were no signs of heavy selling, but buying activity was also insufficient to trigger another price increase. The market remained stable as participants waited for fresh global signals before determining the next direction.

Silver Price in Mumbai:

The price of 1 gram of silver remained ₹240 on Thursday and Wednesday, showing no change.
The price of 8 grams remained ₹1,920 on both days.
The price of 10 grams remained ₹2,400.
The price of 100 grams remained ₹24,000.
The price of 1 kilogram remained ₹2,40,000.

What Would 10 Grams of Silver Jewellery Cost Today?

The quoted silver rate represents only the value of the metal. The final cost of silver jewellery also includes making charges and GST.

Based on 12% making charges and 3% GST, the estimated cost of 10 grams of silver jewellery is:

Silver value: ₹2,400
Making charges (12%): ₹288
GST (3%): ₹81
Estimated final amount: ₹2,769

The final price may vary depending on the jeweller, design, making charges and wastage.

10-Day Silver Price Trend:

On August 6, the price of 10 grams of silver was ₹2,400, 100 grams was ₹24,000 and 1 kilogram was ₹2,40,000 with no change.

On August 5, the price of 10 grams of silver was ₹2,400, 100 grams was ₹24,000 and 1 kilogram was ₹2,40,000, showing an increase of ₹5,000.

On August 4, August 3, August 2, August 1, July 31, July 30 and July 29, the price of 10 grams of silver remained ₹2,350, 100 grams remained ₹23,500 and 1 kilogram remained ₹2,35,000 with no change.

On July 28, the price of 10 grams of silver remained ₹2,350, 100 grams remained ₹23,500 and 1 kilogram remained ₹2,35,000, showing a decline of ₹5,000.

The 10-day trend shows that silver prices remained unchanged at ₹235 per gram for almost a week before Wednesday’s rise pushed the rate to ₹240 per gram. Thursday’s stability indicated that the market continued to hold the recent gains.

August Performance So Far:

Silver was priced at ₹235 per gram on August 1 and reached ₹240 per gram on August 6. The highest price recorded in August was ₹240 on August 5 and August 6, while the lowest price was ₹235 between August 1 and August 4. The monthly trend stands at a gain of 2.13%.

Silver’s performance in August has remained steady, with limited movement during the first four days before Wednesday’s rally changed the trend. Thursday’s session maintained the positive movement as prices remained unchanged.

Invest in Silver ETF on HDFC Sky

Investors looking to invest in silver without managing storage or purity concerns can consider Silver Exchange Traded Funds (ETFs). These funds generally hold silver with around 99.5% purity, providing an investment option for those seeking exposure to the metal.

To invest in Silver ETFs, investors require a demat and trading account, which is commonly used for stock market investments. On HDFC Sky, investors can purchase ETFs quickly and easily.

Explore Silver ETFs: https://hdfcsky.com/silver-etf

Why Do Silver Prices Change Every Day?

Silver prices are influenced by multiple factors beyond jewellery demand. The metal is widely used in industries including electronics, solar energy, electric vehicles and healthcare, making industrial demand an important factor affecting prices.

Global precious metal prices, currency fluctuations, inflation expectations and geopolitical events also influence silver rates. Since both industrial users and investors contribute to demand, silver prices can respond quickly to market developments.

Conclusion

Silver prices in Mumbai remained stable on Thursday, August 6, at ₹240 per gram and ₹2,40,000 per kilogram after Wednesday’s rally. The metal continued to hold its recent gains as the market awaited fresh global cues and changes in industrial demand that could influence the next movement in silver prices.