High silver prices threaten Lucknow’s famed bridal nagra craft
- War-driven price risesPrices for precious metals actually began rising with Russia’s invasion of Ukraine back in early 2022, but economists say prices surged significantly with the US and Israeli attacks on Iran.
- In 2023, silver prices in India largely fluctuated between $725 (70,000 rupees) and $830 (80,000 rupees) per kilogramme, rising to around $985 (98,000 rupees) in 2024.
- But this year, amid the conflict with Iran, silver prices briefly soared as high as $4,670 (450,000 rupees) per kg before easing after the ceasefire.
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- War-driven price risesPrices for precious metals actually began rising with Russia’s invasion of Ukraine back in early 2022, but economists say prices surged significantly with the US and Israeli attacks on Iran.
- In 2023, silver prices in India largely fluctuated between $725 (70,000 rupees) and $830 (80,000 rupees) per kilogramme, rising to around $985 (98,000 rupees) in 2024.
- But this year, amid the conflict with Iran, silver prices briefly soared as high as $4,670 (450,000 rupees) per kg before easing after the ceasefire.
Sources: Al Jazeera