The silver price in Mumbai today, Wednesday, March 5, 2026, is approximately Rs 285 per gram for 999 purity silver, according to the latest city bullion rate updates. The price has seen only marginal movement compared to the previous trading session.
At the current level, 1 kilogram of silver in Mumbai is priced around Rs 2,85,000, reflecting a slight fluctuation from earlier sessions in the physical bullion market.
Silver price in Mumbai today (March 5)
| Quantity | Price |
|---|---|
| 1 gram | Rs 285 |
| 10 grams | Rs 2,850 |
| 100 grams | Rs 28,500 |
| 1 kilogram | Rs 2,85,000 |
These prices reflect retail bullion rates for 999 purity silver in Mumbai and typically exclude GST, making charges, and dealer premiums that may apply when buying coins, bars, or jewellery.
Why silver prices are stable today
Silver prices have remained relatively steady following recent volatility in global commodity markets. Safe-haven demand had pushed precious metals higher earlier as geopolitical tensions escalated in the Middle East, but profit booking and currency movements have led to some stabilization in prices.
Domestic bullion prices in India closely track international spot silver prices and movements in the US dollar, along with futures trading activity on the Multi Commodity Exchange (MCX).
Prices generally similar across major cities
Silver prices in Mumbai, Kolkata, Delhi and other major bullion hubs tend to remain very close to each other because they follow the same international benchmarks and import costs.
However, small variations can occur depending on local demand, transportation costs and jeweller margins, while jewellery purchases may include additional making charges.