“Silver prices have sky rocketed as much as 240 per cent in the past four years. It is at an all-time high of Rs 49,955 per kg. It can breach the Rs 50,000-mark any day,” said Pawan Verma who runs one of the largest jewellery stores in the capital’s old quarters.
“One of the key factors right now is the international buying spree, which is also partly based out of China. Both gold and silver are seeing enormous demand. Then there is this Gulf unrest. All are only fuelling prices, not pulling down demand,” Verma said.