Silver Prices Plummet in Jaipur, Boosting Diwali Demand for Utensils and Idols

News18 Hindi · india

Silver prices in Jaipur have significantly dropped, creating a festive atmosphere in markets as Diwali approaches. Once priced at ₹4 lakh per kilogram, silver now stands at ₹2 lakh, a 50% decrease in 271 days. This price fall has spurred demand for silver, with consumers opting for it over gold for Diwali purchases. Jewelers anticipate continued price moderation until Diwali, with potential further drops below ₹2 lakh per kilogram. The decline is attributed to reduced industrial demand from China and Europe and institutional investors withdrawing funds.