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India’s Silver Premiums Collapse After Festival Buying Spree
India’s silver premiums plunged after festival buying, signalling cooling demand and price stabilisation in the domestic market.
After India’s recent festival surge in silver purchases, premiums over global benchmark prices dropped to just 25-40 US cents per ounce from highs above US$5 earlier in October. Indian wholesale brokers say demand has cooled and many buyers are waiting for prices to settle before re-entering the market. Domestic silver prices corrected to roughly ₹147,000 per kg from a peak of around ₹170,415. The correction reflects both waning retail demand and some easing of global supply constraints.