Silver prices drop 40% from peak, but demand remains weak in India
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·3 viewsSilver prices in India have fallen sharply by around 40% over the past seven months after a remarkable rally that had pushed the metal over 300% higher year-on-year. The metal had hit a historic milestone in January when it crossed Rs 4 lakh per kg on the Multi Commodity Exchange for the first time. Despite the significant price correction, buyer interest has not rebounded as might be expected following such a steep decline. The lack of demand could result in an estimated 2,000 tonnes of silver accumulating as unsold inventory within the country.
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