New Delhi: The prices of silver in India have gone very high as it rose by almost fifteen thousand rupees in a short period. This has been a shock to investors, jewellers, and ordinary buyers. The world demand, supply problems and increased interest in precious metals are the factors that are being associated with the price surge.
Silver is also very popular in the jewellery as well as in industries like electronics, solar panels and electric cars. With the rise in the demand of clean energy and electronic products, there has been an increase in the demand of silver. This has exerted strain on world supply pushing the prices upward.
According to experts, investors are also flocking to silver as a risk-free alternative in tough economic times. During periods of instability of stock markets or when the inflation is high, precious metals such as gold and silver are usually invested in. In the recent past, the number of investors holding a lot of silver has risen contributing to the escalation in price.
The increased prices are an issue to jewellery buyers. A lot of families were intending to purchase silver products to be used during weddings and celebrations. According to jewellers, consumers are either postponing the purchases or purchasing in low quantities.
