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Jhunjhunu, India – Silver Prices Skyrocket, Stun Market and Consumers
A sudden and dramatic surge in silver prices over the past two weeks has sent shockwaves through the bullion market and left consumers reeling in Jhunjhunu. What began as a sluggish market in early December has transformed into a frenzy, with silver prices jumping nearly ₹70,000 per kilogram in just 18 days.
According to bullion market experts, silver has risen from ₹182,200 per kilogram on December 9th to a staggering ₹252,000 per kilogram as of Friday. This represents a massive increase of ₹69,800 per kilogram in a very short period. Gold prices have also experienced a significant uptick, with 24-carat gold increasing by ₹12,200 per ten grams and 22-carat gold rising by ₹10,500 per ten grams.
The rapid escalation began in mid-December, with silver reaching ₹200,000 per kilogram on December 17th. The market then accelerated dramatically, with prices jumping by ₹9,600 on December 26th and a further ₹16,100 on December 27th, ultimately reaching the current high of ₹252,000. In the last four days alone silver rose by ₹35,700 per kilogram.
Shivkaran Janu, State President of the All India Goldsmith Association, attributed the price hike to genuine demand rather than speculative trading. He explained that reduced silver imports from China, coupled with increased domestic demand, are driving the price increase. “Unlike the speculative surge of 1980 or the global uncertainty-fueled rise of 2011, this current surge is rooted in industrial demand,” he stated.
First Piper 