Silver Rate in Mumbai Today, July 17, 2026: Silver Falls to ₹230 Per Gram
Authored By HDFC SKY | Published at: Jul 17, 2026 11:39 AM IST
Mumbai, July 17: Silver prices in Mumbai declined on Friday, July 17, with the white metal extending its recent weakness. According to the latest market rates, silver is priced at ₹230 per gram, down ₹5 from the previous session. On a kilogram basis, silver is trading at ₹2,30,000, reflecting a ₹5,000 decline compared with yesterday.
Silver prices in India continue to be influenced by international precious metal prices, industrial demand, movements in the US dollar, and the rupee’s exchange rate against the greenback.
Silver Rate in Mumbai Today
| Unit | Price | Daily Change |
| Silver (1 gram) | ₹230 | -₹5 |
| Silver (1 kilogram) | ₹2,30,000 | -₹5,000 |
Silver Prices Slip in Today’s Trade
After remaining steady for several sessions, silver prices moved lower on July 17. The latest correction follows stable pricing over the past few days, with today’s fall bringing the rate to ₹230 per gram.
While silver is widely used in jewellery and investment products, it is also an important industrial metal with demand coming from sectors such as electronics, solar energy and automobiles. Changes in industrial demand often contribute to price fluctuations.
Today Silver Price Per Gram/Kg in Mumbai (INR)
| Weight | Today | Yesterday | Change |
| 1 gram | ₹230 | ₹235 | -₹5 |
| 8 grams | ₹1,840 | ₹1,880 | -₹40 |
| 10 grams | ₹2,300 | ₹2,350 | -₹50 |
| 100 grams | ₹23,000 | ₹23,500 | -₹500 |
| 1 kilogram | ₹2,30,000 | ₹2,35,000 | -₹5,000 |
Estimated Cost of Buying 10 Grams of Silver
Based on the prevailing market rate, the estimated cost of purchasing 10 grams of silver with 12% making charges and 3% GST is shown below.
| Component | Amount |
| Base Value | ₹2,300 |
| Making Charges (12%) | ₹276 |
| GST (3%) | ₹77 |
| Estimated Total Cost | ₹2,653 |
Actual billing may vary depending on the jeweller’s making charges and applicable taxes.
Silver Rate in Mumbai: Last 10 Days
| Date | 10 Gram | 100 Gram | 1 KG |
| Jul 17, 2026 | ₹2,300 | ₹23,000 | ₹2,30,000 (-₹5,000) |
| Jul 16, 2026 | ₹2,350 | ₹23,500 | ₹2,35,000 (₹0) |
| Jul 15, 2026 | ₹2,350 | ₹23,500 | ₹2,35,000 (₹0) |
| Jul 14, 2026 | ₹2,350 | ₹23,500 | ₹2,35,000 (₹0) |
| Jul 13, 2026 | ₹2,350 | ₹23,500 | ₹2,35,000 (₹0) |
| Jul 12, 2026 | ₹2,350 | ₹23,500 | ₹2,35,000 (₹0) |
| Jul 11, 2026 | ₹2,350 | ₹23,500 | ₹2,35,000 (-₹5,000) |
| Jul 10, 2026 | ₹2,400 | ₹24,000 | ₹2,40,000 (+₹5,000) |
| Jul 09, 2026 | ₹2,350 | ₹23,500 | ₹2,35,000 (-₹10,000) |
| Jul 08, 2026 | ₹2,450 | ₹24,500 | ₹2,45,000 (₹0) |
What Influences Silver Prices in Mumbai?
Silver prices change daily due to several domestic and international factors, including:
- Global silver prices in international markets.
- Industrial demand from electronics, solar panels and manufacturing.
- Movements in the US dollar and the Indian rupee.
- Inflation expectations and interest rate outlook.
- Import duties, GST and other applicable taxes.
- Domestic investment demand and festive buying.
Conclusion
Silver prices in Mumbai weakened on July 17, with the metal falling by ₹5 per gram and ₹5,000 per kilogram compared with the previous session. Investors and buyers are expected to monitor global precious metal trends, industrial demand and currency movements for further direction in silver prices.
Disclaimer
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Please Note: The information shared is intended solely for informational purposes and does not make any investment recommendations
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