World · India Bureau
Silver prices crash over 4,600 rupees ahead of Karva Chauth festival
Precious metal markets have witnessed a significant downturn during the Karva Chauth season, with silver prices plummeting below the 1.90 lakh rupee mark. The sharp decline has caught traders and consumers off guard during a traditionally buoyant shopping period.
LSN India ·
Silver prices have tumbled dramatically in the lead-up to Karva Chauth, losing over 4,600 rupees per kilogram, according to current market data. The precious metal, traditionally sought after during the Hindu festival season, has fallen below the 1.90 lakh rupee threshold, marking a considerable depreciation from recent levels.
The downturn in silver valuations comes at an unexpected time, as Karva Chauth typically sees elevated demand for jewellery and precious metals among Indian households. Festival shopping usually provides support to precious metal prices during this period, making the recent correction particularly noteworthy.
Gold prices have also experienced pressure during the same timeframe, though silver has borne the brunt of the selling. Market analysts attribute the weakness to broader global commodity trends and currency movements affecting precious metals across Asian markets.
Consumers planning festival purchases may find improved affordability in silver jewellery and artefacts at current levels. Traders, however, remain cautious about short-term price direction as festive demand and macroeconomic factors continue to influence market sentiment.