Silver wipes out 2024 gains in a week; jewellers brace for value-buying rebound in India
Silver crashed 13% in a week to ₹2,16,541/kg in Mumbai, erasing all year-to-date gains, while gold slid 5% to ₹1,39,873/10gm. Both are deep off peaks (silver -53%, gold -19%). Kama Jewelry and Augmont expect India's physical-demand market to absorb the correction via value buying.
Silver has erased all 2024 gains, falling 13% in a week to ₹2,16,541/kg in Mumbai, while gold dropped 5% to ₹1,39,873/10gm. Jewellers expect value buying in India's physical-demand-led market as prices correct.
Why this matters
Kama Jewelry is positioning for a value-buying rebound as India's price-sensitive physical demand historically rises on sharp bullion corrections, supporting jeweller footfall and ticket volumes.
Retail-brand signals steady at 1,919 over the last 90 days, indicating consistent activity across the category.