Trading, Jewellery makers and general public are keeping their distance with the metal silver at present as it has recently gone up in price from RS 55,000 per kg now is at 60,000 kg.
Mukesh Kothari, director of RiddiSiddhi Bullion, says the demand for silver will increase during Rakhi festival if the prices are less. “Silver is a price-sensitive commodity and we believe that the buyers are taking time to find the best price. As the price increases, demand reduces because buyers are waiting for a correction. Investors and suppliers to industries are the ones who are more active and looking forward to reap profits once it reaches new highs,” said Kothari.