Silver prices soften by over Rs 4,000 per kg

Silver prices soften by over Rs 4,000 per kg

                                                                                     

DECLINE in demand in the international market has softened the prices of silver. Silver has joined the slippery voyage since 90 days. It was quoted at Rs 40.400 per kg on Wednesday which before one month, was in the range of Rs 45.000 per kg.

Rajkumar Gupta, Chairman of Police and Jewellers Vigilance Committee and member of Team CAIT, Nagpur. who deals in silver articles said: "The demand of while metal ie. silver has melted in the global market resulting into faltering of prices."

According to Gupta, sales of silver articles were stagnant. "As the prices have fallen, there will be good demand for silver articles during Dussehra and Diwali festivals when buying some precious metal is a good omen. Silver coins and gift articles will be more in demand," he predicted.

Chandubhai Vaslani of Dass Jewellers said, "The downfall in silver prices will be for a very short period only. Silver, which moves in downward spiral in the morning suddenly sees correction in prices in the afternoon. It is difficult Co predict prices for such a metal."

Pradeep Kothari. Director of Karan Kothari Jewellers, said the demand for silver utensils specially used in puja had moved up. "We are expecting good sales this Diwali. It's for the first time I am witnessing prices easing." he said. Karan Kothari Jewellers had brought new collection of antique silver utensils which were used by kings and royal families. "Silver will shine during festive season." he claimed.

Posted in: News 2014