International News
Complexity of above-ground silver stocks
The majority of above-ground stocks are essentially unavailable to the market regardless of price incentives
Silver is a rare, precious metal with a high intrinsic value. This fact helps explain its historical role as money and its continuing relevance as an investment asset. Since the industrial age, silver has become increasingly important as a commodity, its unique characteristics making it essential for many industrial applications, including leading clean energy uses.
Silver’s scarcity and value means there has always been a powerful incentive to safe keep and hoard the metal in its purer and weightier forms, such as coins, bars, silverware, and, to a lesser extent, jewelry. For other fabricated products, the silver content may also have some inherent value related to the precious metal content. Together, these various forms of silver constitute the above-ground stocks of precious metal.
To examine the relationship between the level of and changes in Above-Ground stocks and the silver price, the Silver Institute commissioned a new Market Trend Report, “Price Sensitivity of Above-Ground Silver Stocks,” produced by Precious Metals Insights.
The Report contends that no correlation exists between the overall level of Above-Ground stocks and the silver price.
Some of the key conclusions from this Report are summarized below:
There is no correlation between the overall level of Above-Ground stocks and the silver price;
Annual changes in total Above-Ground stocks and the silver price are likewise uncorrelated;
In contrast, movements in bullion stocks have an impact on the silver price and vice versa.
The vast majority of Above-Ground stocks are “immobile,” with only small net additions to or subtractions from stocks on an annual basis;
Increases in bullion stocks are often positively correlated with the price, as investment demand grows when silver prices increase, which still stimulates higher prices;
Multi-year drawdowns in bullion stocks have tended to occur in bear markets for silver and have exacerbated these. However, these drawdowns have typically set silver up for more substantial rallies as investors have rebuilt their bullion holdings; and
Above-Ground stocks of fabricated products are less price-sensitive than those of bullion. Only specific subsets of silver fabrication demand show a sensitivity to the price, such as jewelry and silverware.
DiamondBuzz
De Beers Group Launches “Heera Hai Aapke Liye” Program at IIJS Bharat Signature to Revolutionize Natural Diamond Accessibility in India
De Beers Group, the world’s leading diamond company, marked a significant milestone in the Indian jewellery landscape with the official launch of the “Heera Hai Aapke Liye” program at IIJS Signature. The star-studded event featured actress Sonakshi Sinha, who joined Shweta Harit, Global Senior Vice President of De Beers Group and CEO of Forevermark, to unveil an initiative dedicated to making natural diamonds an integral part of daily life for the modern Indian consumer.



The “Heera Hai Aapke Liye” (Diamonds are for You) program is strategically designed to promote natural diamonds by raising awareness, boosting market visibility,and creating a seamless connection between retailers and consumers. With a focus on modern designs and attractive price points, the program also lets local retailers use De Beers Group campaigns as their own—second-piercing earrings, ‘Bestie’ bracelets, and ‘Intention’ pendants. It positions diamonds as a lifestyle choice for self-expression and daily wear.

Speaking at the launch, Shweta Harit, Global Senior Vice President of De Beers Group and CEO of Forevermark, detailed the evolution of the brand’s storytelling, stating, “De Beers Group has a rich legacy of creating iconic ritual campaigns that have shaped how the world perceives diamonds. With ‘Heera Hai Aapke Liye,’ program we are evolving that narrative for the Indian market to another level.
We are not just selling jewellery, we are making natural diamonds more accessible and desirable in India. Our goal is to empower retailers through INDRA (Indian Natural Diamond Retailer Alliance) to ensure that every ‘First Diamond’ journey is as credible as it is beautiful.”

Speaking on the occasion, Kirit Bhansali, Chairman, Gem & Jewellery Export Promotion Council (GJEPC), said, “IIJS has always been a powerful platform for shaping the future of India’s gem and jewellery industry, and the launch of ‘Heera Hai Aapke Liye’ at IIJS Signature reinforces that role. GJEPC is proud to partner with De Beers Group on the INDRA (Indian Natural Diamond Retailer Alliance) project, which is a critical step towards strengthening domestic demand for natural diamonds.
By empowering retailers, enhancing consumer confidence, and expanding access across metros and Tier 2 markets, this initiative aligns perfectly with our vision to grow the natural diamond category sustainably within India.”
The program ‘Heera Hai Aapke Liye’, rests on few strategic pillars aimed at industry growth and scalability:
- Stocking & New Consumer Opportunity: Identifying gold wholesalers and distributors across 15–20 cities to focus on a first-phase target of 500 retailers.
- Retailer Advantage: Providing a “Design Advantage” and strict “Product Hygiene,” backed by a clear buy-back policy and robust training and marketing support via the INDRA alliance.
- Heera Hai Aapke Liye is robust entry-level product kit featuring earrings, bangles, bracelets, etc supported by exclusive visual merchandising (VM) for display.
- Growth and Scalability: A PAN-India reach strategy designed to unlock new business opportunities for both manufacturers and retailers.


As India continues to grow as the world’s second-largest market for retail diamond jewellery, De Beers Group remains committed to strengthening the natural diamond narrative. By combining the emotional appeal of natural diamonds with the practical “Heera Hai Aapke Liye” framework, De Beers aims to build a sustainable future for the category across both metros and Tier 2 cities. De Beers and GJEPC aim to expand the base of Natural Diamond buyers, increase self-purchase consideration, and establish long-term credibility for the category.
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