Silver Price Volatility Hits Anklet Manufacturers and Workers

The volatility in silver prices has severely impacted anklet manufacturers and workers in Salem district. Over 1,000 units produce more than 50,000 jobs directly or indirectly. The price of silver bullion fluctuated significantly this year, from ₹3.18 lakh per kg on January 1 to ₹2.30 lakh in June.

C. Sree Anandharajan, president of Salem Silver Anklet Manufacturers' Handicraft Welfare Association, stated that the volatile prices have affected orders for six months. Workers are receiving jobs only two to three times a week, and many have shifted to other jobs or take up silver anklet work part-time.

P. Elango, a silver anklet manufacturer at Shevapet, attributed the decline in demand to changing trends. Schools now instruct girl students not to wear anklets, fearing loss while playing.