Gold's Rs 1.5 lakh price drives buyers to silver who get 650g silver at same price
High gold prices in India are driving middle-class consumers toward silver as a more affordable alternative for festive jewelry and investment. Jewellers report that silver now accounts for a significantly larger portion of their annual revenue compared to previous years.
Why it matters
The shift reflects changing consumer purchasing power and evolving investment trends in one of the world's largest precious metal markets.
This festive season, Indians may opt to buy silver instead of gold as prices of the yellow metal stay high despite the recent fall. Silver, traditionally playing a supporting role to gold in India's jewellery market, is now poised for a much bigger moment.With gold prices remaining prohibitively high for a large section of middle-class buyers, the white metal is steadily attracting attention. High gold prices have made the precious metal out of reach for several people.Betting on silver instead of goldJewellers and traders are expanding their offerings, ranging from ornaments and idols to furniture, to draw both consumers and investors.
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