Silver Rate/Price in Maharashtra Today

Silver prices in Maharashtra are a reflection of international rates, with costs changing on a regular basis, depending on multiple factors.

Trend of Silver Rate in Maharashtra for July 2025 (rates per kg) 

Trend of Silver Rate in Maharashtra for June 2025 (rates per kg) 

Trend of Silver Rate in Maharashtra for May 2025 (rates per kg) 

Trend of Silver Rate in Maharashtra for April 2025 (rates per kg) 

Trend of Silver Rate in Maharashtra for March 2025 (rates per kg) 

Trend of Silver Rate in Maharashtra for February 2025 (rates per kg) 

Trend of Silver Rate in Maharashtra for January 2025 (rates per kg) 

Trend of Monthly Silver Rate in Maharashtra for January 2025

1. In Maharashtra, the price of white metal stood at Rs.98,000 per kg on 1 January 2025 for the month of January 2025, marking the opening rate of the metal for the month in the city. 

1. Over the course of the month, the rates of the precious white metal witnessed significant fluctuation in its rates, thereby resulting an overall inclining trend in the performance of the white metal in Maharashtra. 

1. At the end of the month of January 2025, the price of the precious white metal had dropped in its value and stood at Rs.107,000 per kilogram in the state of Maharashtra on 31 January 2025, which marks the closing rate of silver. 

1. In Maharashtra, the highest price point achieved for the precious white metal for the month of January 2025 was recorded on 31 January 2025 when one kilogram of the precious white metal was sold at the rate of Rs.107,000.  

1. On the contrary, the lowest price point of the precious white metal was recorded at Rs.98,000 per kilogram, which was observed on 1 January 2025 in the state of Maharashtra. 

1. The percentage hike observed in the rates of silver for the month of January 2025 was 9.18% in Maharashtra for the month after considering the overall performance of the precious white metal. 

Silver as an investment in Maharashtra

Silver is considered a safe investment option in Maharashtra, primarily on account of its affordability and cultural significance. Most households consider owning silver auspicious, with it forming an integral part of weddings and celebrations. With silver costing less than gold, it provides an investment opportunity to investors with moderate resources, helping them build a portfolio. Individuals who wish to invest in silver can do so in different ways, with physical silver and silver contracts being the two popular investment modes in Maharashtra.

Physical Silver - Buying silver in its physical form continues to be the mainstay for most investors. Silver can be purchased either in the form of coins or jewellery, with banks and jewellers across the state offering products for multiple budgets. Silver ornaments like chains, anklets, amulets and rings serve a dual purpose, acting as an investment and an accessory. Silver statues of gods and goddesses are also popular in Maharashtra, with their demand peaking during festivals and religious processions. Silver coins can be purchased from both banks and jewellers, with the ones purchased from banks costing slightly more on account of quality checks and purity certificates.

Silver contracts - One can purchase silver through the markets, with silver being traded in the National Multi Commodity Exchange, National Commodity and Derivatives Exchange and the Multi Commodity Exchange. Typically, this is suited for individuals who wish to purchase silver in bulk, with the minimum trading limit set at 1 kg in most cases. This can be a good option for investors who are well aware of the markets and wish to make quick profits.

Factors Affecting the Price of Silver in Maharashtra

The price of silver in Maharashtra is subject to a variety of factors that influence its value on a daily basis. These factors encompass a range of associated costs, as well as the impact of inflation both within the country and beyond. Here are some of the factors that influence the price of silver in Maharashtra:

Demand - The demand for silver, whether individual or commercial or industrial, is the primary driver of its price. The demand for silver in all its forms, including coins, bars, jewellery, and household items, is taken into account.

Gold Prices -The price of gold also plays a role in determining the price of silver, as both are commodities whose values fluctuate on a daily basis. Generally, gold and silver prices move in sync with one another, with silver prices increasing as gold prices rise.

Inflation - Inflation within a country can significantly impact the price of silver, with increasing inflation resulting in an increase in the price of silver. This is also true in India, where inflation can drive up the cost of silver.

Ancillary Costs - The associated costs of procuring, refining, and storing silver also play a significant role in determining its price. These costs can include mining costs, import costs, storage costs, warehousing costs, marking costs, and more. As the demand for silver rises, these ancillary costs can also increase, leading to higher prices for silver.

External Factors - Other external factors that can affect the price of silver include geopolitical factors, government policies, import and export policies, crude oil prices, changes in the value of the US dollar, and more.

Things to Consider Before Investing in Silver

Before buying silver, it is essential to consider a few factors. First, it is necessary to monitor the price movements of silver over a period of time and check live silver rates before investing. There are many options to choose from available in the market for purchasing silver, so it is crucial to do proper research and stay informed about market trends. Here are some tips for buying silver.

Researching the Rate of Silver -  Keep a close eye on the price movements of silver to make informed decisions on when to buy or sell. You can check out live silver rates on websites like BankBazaar to stay up to date with the latest information.

Deciding on the Kind of Silver You Want to Buy - Silver is available in various forms, such as bars, coins, and jewellery, each with its own pros and cons. Determine what form of silver investment is best for you, depending on your goals.

Ensure Certification - In Pune, the Bureau of Indian Standards (BIS) introduced hallmarking of silver in 2005. Make sure to buy silver that has been certified by BIS-approved Assaying and Hallmarking Centers. Check for the five markings that certify the silver's authenticity: BIS mark, purity or fineness, assay centre's identification mark, year of marking, and jeweller's or manufacturer's identification mark.

Online Purchase - You can also buy silver online from trusted and certified sellers. However, be careful of fraud and only purchase from reputable sources to ensure that the silver you receive is genuine.

Where to buy Silver in Maharashtra

If you are in Maharashtra and looking to purchase silver, you can consider the following options:

Authorized Sellers - One of the most reliable sources to purchase silver is authorized sellers. The Government of India has authorized many sellers to sell precious metals like silver and gold. Some of these authorized sellers in Maharashtra are Metals and Minerals Trading Corporation of India (MMTC) - Produits Artistiques Métaux Précieux (PAMP), National Spot Exchange, and Bombay Bullion Association.

Jewellers - There are many reputed jewellers in Maharashtra that sell silver. These jewellers sell silver in different forms, like coins, bars, and jewellery. Customers can check the purity and authenticity of the silver by checking the certification markers present on the silver.

Banks -  Many banks in Maharashtra sell silver coins and bars. Customers can purchase silver from banks by visiting the branch or through their online banking portal.

E-commerce Portals -  Customers can purchase silver from various e-commerce portals like CaratLane, BlueStone, Amazon, etc. However, customers need to ensure that they are buying silver from a reputed seller and check the purity and authenticity of the silver.

In conclusion, customers can purchase silver from authorized sellers, jewellers, banks, and e-commerce portals in Maharashtra. However, customers need to ensure that they are buying genuine silver with proper certification markers to avoid any fraud or scams.

How to Determine Purity of Silver? 

Silver purity is typically expressed as a percentage and given designations like 999 purity or 9999 purity. Silver can be purified to a maximum purity level of 9999. To make silver coins more resilient and resistant to deterioration over time, silver is frequently mixed with copper. 

The purity of the silver that has been purchased can be verified using a variety of tests. Among the most popular tests are :

1. The "ice test" involves placing an ice cube on a silver coin, bar, or other suitable object. The silver is real and purer if the ice cube melts more quickly. 

1. Since sterling silver does not stink and has no odour, stink tests can also be used to determine the purity of the metal. 
2. Another test to assess the purity of silver is the magnet test. Silver is tested for purity by passing a magnet over it; if the metal adheres to the magnet, it is not regarded as pure.