Nagpur: An unusual scenario has gripped the city’s bullion market as several jewellery outlets are facing a shortage of silver amid soaring demand this festive season. With stocks running low, many jewellers have started accepting advance bookings, promising deliveries only after 20 days.
Traditionally, both gold and silver witness high sales during Diwali, but this year, the demand for silver has outpaced expectations due to its steep price escalation. Since April 1, silver prices have jumped from ₹1 lakh per kilogram to ₹1.84 lakh per kilogram as of October 15 an astounding rise of nearly 84 per cent. This dramatic surge has drawn not only traditional buyers but also investors seeking profitable returns.
Rajesh Rokde, Chairman of the All India Gems and Jewellery Domestic Council, explained that the shortfall stems from a growing trend of people viewing silver as a strong investment option, supported by steady industrial demand. “The sharp increase in silver prices has reshaped the festive shopping landscape this year. To manage the situation, jewellers are taking advance orders and assuring delivery after Diwali,” Rokde said.
Echoing similar views, Kishore Sheth, Director of Batukbhai and Sons Jewellers, noted that while limited quantities of silver items are still available in stores, bulk buyers must pre-book. “Customers can purchase silver ornaments and small items displayed in showrooms. However, those seeking larger quantities say over 10 kilograms will need to place advance orders,” Sheth added.
The unprecedented rush for silver, coupled with limited market supply, has turned this Diwali season into one of the busiest and most unusual for the city’s jewellers.
👉 Click here to read the latest Gujarat news on TheLiveAhmedabad.com