Indians have long worn their love for gold on their sleeves. But with gold prices reaching levels that can make even a small piece a serious purchase, silver is quietly stealing some of the attention.
In just two years, silver has turned from a humble metal to a runaway asset: from ₹89,537 per kg in September 2024, prices climbed to ₹1,41,918 a year later, before smashing past ₹2.32 lakh per kg this September — a hefty 160% surge in 24 months.
Long dismissed as merely "the poor man’s gold," silver is suddenly finding new ground in gifting, everyday wear, and fashion-forward jewellery.
The question now is whether silver is finally having its star moment.
ALSO READ | High gold prices offer jewellers a silver lining this festive season
“100%,” said Surendra Mehta, National Secretary, India Bullion & Jewellers Association (IBJA), when asked if silver’s record run is changing consumer interest. India’s shift towards silver is likely to change jewellery-buying habits in the long term, he told ET Online.
