After hitting record highs this month, silver prices started to fall sharply, with silver prices falling by around ₹ 31,000 per kg in the last ten days, down 17%.
Silver prices closed at ₹1.47 lakh per kg on Friday. Experts believe that this decline is due to improved availability of silver in London and profit taking by investors.
Silver on the international market fell to $48.5 a troy ounce on Friday, from $54.47 a week ago. The arrival of large shipments from the US and China eased pressure in London, pushing global prices lower, bullion traders reported. London, where physical silver is traded, has a direct impact on market prices.
According to experts, silver prices in India touched ₹1.78 lakh per kg on October 14 due to an earlier shortage in London. Experts also said that the rise in silver prices this year is not only due to jewellery.
Strong demand from industries such as solar energy, electric vehicles, 5G infrastructure and AI hardware has made silver critical to the global green energy transition. Limited mining and less recycling have increased pressure on supply.
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