National News
Silver Demand Slips as Prices Hit Record Highs
Silver bar sales fall 20% despite heavy discounts, as price volatility keeps investors and jewellers cautious
Demand for silver bars has weakened sharply after prices surged to record levels this month, even as bullion dealers rolled out steep discounts to attract buyers. According to the India Bullion & Jewellers Association (IBJA), silver demand in January has dropped around 20% year-on-year, reflecting buyer hesitation amid extreme price volatility.
Silver prices jumped nearly 24% in the last fortnight, rising from Rs.2.29 lakh per kg on January 1 to a record Rs.2.85 lakh per kg, before easing slightly to Rs.2.82 lakh per kg on Friday. The muted demand comes despite dealers offering discounts of up to Rs.8,000 per kg. Industry experts say continued price swings are discouraging physical purchases.
Bullion traders in Mumbai’s Zaveri Bazaar noted that jewellers have also slowed their silver buying, uncertain about consumer off-take at current price levels. India typically consumes 6,000–7,000 tonnes of silver annually, but recent volatility has disrupted purchasing patterns. Market participants attribute the fluctuations to geopolitical tensions, global profit-booking, and uncertainty over US trade policy.
Prices briefly dipped earlier in the month due to profit-taking before rebounding again. Analysts point out that silver inventories have shifted from London to New York vaults, tightening availability in the market and pushing prices higher, even as industrial demand remains strong.
Adding to the uncertainty, Indian buyers are waiting for clarity on US policy decisions and the upcoming Union Budget, with expectations that the government may reduce the current 6% import duty on silver to ease prices. While some analysts believe short-term corrections are possible due to profit-booking, others remain optimistic about silver’s longer-term outlook, citing strong macro fundamentals and sustained industrial demand.
National News
Belgian Consul General H. E. Mr. Pierre Stverlynck Graces BDB Annual Day
- Event marks 42 years of Incorporation and 16 years of Operations
- Recently-appointed Consul-General’s first visit to the Bourse helps strengthen a century-old bond
- Long service awards presented to outstanding employees
Bharat Diamond Bourse today marked 42 years of incorporation and 16 years since the commencement of operations at the BDB Complex in BKC with a special programme graced by H. E. Pierre Stverlynck – Consul General of Belgium in Mumbai as Chief Guest and a number of leading diamantaires.




The function was organised to celebrate the crucial roles played both by the visionaries who conceptualised the need for a centralised infrastructure to boost the diamond trade over four decades ago, and the employees who have run the daily operations in a highly efficient and professional manner.
In his Welcome Address, BDB Vice President, Mehul Shah explained the significance of celebrating twin milestones – 42 years of incorporation and 16 years of operations. He said:

“BDB began with a vision and is now the world’s largest operational bourse, and a symbol of India’s leadership in the diamond world and excellence in every aspect of operations.”
He added, “It is significant that the Consul General of Belgium is with us on this special occasion. Antwerp and Mumbai have a very close relationship, going back more than 100 years. Today the two cities have bonds based on trust, trade and friendship. We are committed to strengthening this bond over the next century as well.”
Congratulating the awardees he said that members may be the owners, but it is the staff who run the complex and have helped build it as the “best of the best” centres for diamonds. “Personal integrity combined with hi-tech surveillance have made BDB one of the safest places in the world,” he explained, and urged all present never to forget that “it is the soldiers who fight and win the wars.” Mr Shah offered compliments to all the awardees and congratulated Team BDB.
Speaking on the occasion, Anoop Mehta, President BDB, welcomed Mr Stverlynck who has recently assumed charge as Consul General of Belgium in Mumbai.

“We are sure that this will be the first of many visits to our Bourse,” he said, noting that the Consulate is the nearest neighbour of the complex.
“The BDB leadership has always enjoyed a very special relationship with the Belgian consulate,” he added, “built on the longstanding bonds between the diamond industry in our two countries.”
Mr Mehta said it was heartening that so many employees had remained loyal to the BDB for multiple years, and urged all gathered to reach out through their department heads to put forward suggestions for further changes and improvements
Mr Stverlynck, who was on his first visit to the Bourse after assuming charge as Consul General, said he was extremely impressed with the facilities available for exporters within the complex. Assuring the trade of cooperation and support, he said he was happy to be personally present to celebrate such a remarkable institution as BDB that has become a key pillar of the India diamond industry.
Congratulating the leadership for its role in steering the bourse, as well as those employees who had received long service awards, Mr. Stverlynck said:

“The consolidated knowledge and experience of so many from those at the top to a number of others who contributed in various ways, is an asset to the industry.”
Special long service awards were presented to employees who completed special milestones during the year. These included 30-year, 25-, 15-, 10- and 5-year service awards to a few employees.
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