Silver Price Today in Mumbai

Silver Market in Mumbai

Mumbai is India’s primary silver trading hub, with Zaveri Bazaar in Kalbadevi serving as the country’s largest wholesale bullion market for both gold and silver. The city’s silver market benefits from direct import access through JNPT port, the presence of India’s commodity exchanges (MCX), and intense competition among thousands of dealers and jewellers.

Factors Affecting Silver Prices in Mumbai

• Zaveri Bazaar: India’s largest bullion market sets the national silver wholesale price.

• JNPT port: Direct silver imports keep Mumbai’s supply chain costs low.

• MCX Silver futures: Traded from Mumbai, making the city the domestic benchmark.

• Industrial demand: Mumbai’s electronics and manufacturing sectors consume silver.

• Maharashtrian cultural demand: Silver utensils and ornaments are central to Ganesh Chaturthi, Gudhi Padwa, and weddings.

Buying Silver in Mumbai

Zaveri Bazaar in Kalbadevi is Mumbai’s primary silver market for both wholesale and retail. Major silverware dealers line the lanes around Dhanji Street. National chains and local jewellers stock BIS hallmarked silver across the city. Investment-grade silver is available through banks and MMTC-PAMP dealers.

Nearby Cities 

Pune, Thane, Nashik, Ahmedabad, Surat, Bangalore, Kolkata, Delhi