Silver Shines During India's Festive Season

Silver prices are gaining attention during India's festive season, driven by its relatively low entry point compared to gold. The metal has become a popular choice among middle-class buyers, with jewellery, ornaments, and idols attracting demand alongside traditional gold purchases.

According to the report, silver's affordability is a key factor supporting demand, with prices around ₹2.3 lakh per kg offering a lower entry point than gold. This has led to an increase in white metals' share of total jewellery revenue, from about 10% two years ago to around 25-30% currently.

Retailers and jewellers are also expanding their silver offerings during the festive period, including products such as furniture and other silver articles. Some buyers are looking at silver from an investment perspective, with expectations of further price gains supporting interest in the metal. The report suggests that prices could potentially move towards ₹4 lakh per kg, although this remains a forecast rather than an assured outcome.