As gold prices continue to surge, silver has emerged as the star of this year’s festive season in India. With silver crossing the Rs 1 lakh per kg mark, consumers have turned to the white metal, driving sales to an all-time high during the Dhanteras Diwali period
Silver outshone gold in the Indian jewellery market this festive season, as the white metal saw unprecedented demand. With gold prices surging and silver crossing the Rs 1 lakh per kg mark, consumers turned to silver as a more affordable investment option. Experts predict that silver's upward trajectory will continue, encouraging even more buyers to invest in the metal.
According to a report from Times of India, silver sales during Dhanteras saw a remarkable 30-35% increase despite a 40% hike in prices. In contrast, gold sales dropped by 15% compared to the previous year.
During the Dhanteras and Diwali period, a total of 220 tonnes of silver were sold, with silver coins accounting for 60% of the demand. The remaining purchases were for silver jewellery, utensils, Pooja items, and idols, reflecting the metal's widespread appeal across various categories.
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