Silver prices in India jump 160% in two years to above ₹2.32 lakh per kg as buyers seek relief from record gold
AI Market Summary
India's silver prices have surged ~160% in two years as record gold prices push consumers toward silver for jewellery, gifting and investment, with the trade expecting a Diwali demand lift. The shift supports near-term physical and ETF interest, but commentary highlights price sensitivity and recent speculative-driven volatility, implying stronger flows yet choppier positioning if prices remain elevated.
Impact level
● Medium
Affected assets
NCSKSLV2USD/USDT-0.78%
AI Insight · NCSKSLV2USD/USDTAI Insight
▲ Bullish
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Silver prices in India have surged 160% over two years, topping ₹2.32 lakh per kg, as record gold prices push consumers toward the cheaper metal. Jewellers say demand is rising for silver jewellery, gifting and investment, though higher prices are still curbing purchases. The India Bullion & Jewellers Association expects silver buying during the Diwali season to increase 17-18% from the corresponding period last year. At Senco, silver demand has risen about 25-30% in volume terms on average, but the company says buyers are holding back while prices lack a clear direction.
