National News
Silver Prices Drop 17% from Record High as Supply Eases, Profit-Taking Weighs on Market
Silver prices have plunged nearly 17% from their recent record peak, with the metal losing about Rs.31,000 per kg in just ten days to trade at Rs.1.47 lakh per kg on Friday. The sharp correction comes amid improved supply in London’s bullion market — the global hub for precious metals — and profit-booking by investors after months of momentum-driven gains.
In the international market, spot silver slipped to $48.5 per troy ounce, down from $54.47 a week earlier. Market participants attributed the decline to large inflows of silver from the US and China into London, easing a shortage that had earlier propelled prices to an all-time high of Rs.1.78 lakh/kg in India on October 14.
Despite the short-term correction, analysts maintain that the long-term outlook for silver remains robust, supported by surging industrial demand from the solar energy, electric vehicle, 5G, and AI hardware sectors — all crucial components of the global green transition.
According to Vikram Dhawan, Head of Commodities at Nippon India Mutual Fund, the correction is part of a normalisation phase after an extended rally.
“Short-term traders are readjusting positions, but strategic investors — including central banks and long-term ETF participants — are likely to view this dip as a healthy consolidation,” Vikram Dhawan said.
While improved supply and investor caution have triggered a short-term fall, experts believe that structural demand and limited mining output will continue to lend support to prices over the medium to long term.
GlamBuzz
Aisshpra Gems & Jewels Opens Four Stores in One Day, Takes Network to 20; Targets 30 Stores by March 2028
Four franchise showrooms add approximately 12,000 sq. ft. of retail space, taking the brand’s total retail footprint beyond 90,000 sq. ft.; Bettiah marks its entry into Bihar.
Aisshpra Gems & Jewels, the jewellery retail brand established in Gorakhpur in 1940, today announced the simultaneous opening of four showrooms in Bahraich, Bettiah, Lucknow and Mirzapur. The milestone takes its operational network from 16 to 20 stores in a single day, with three more stores under construction and a target of 30 operational stores by March 2028.
Each new franchise-operated showroom measures approximately 3,000 sq. ft. Together, the openings add around 12,000 sq. ft. of retail space and take the brand’s overall retail footprint to more than 90,000 sq. ft. The Bettiah opening is Aisshpra’s first in Bihar, where Siwan and Gopalganj are also in its expansion pipeline. The Lucknow launch marks its third showroom in the city.
Jewel Story takes centre stage across all four stores
All four showrooms feature a dedicated store-in-store presence for Jewel Story, Aisshpra’s lifestyle jewellery brand. Designed for teenagers, young adults and customers up to around 40 years of age, Jewel Story focuses on lightweight, wearable, modern jewellery across 9KT to 22KT gold purity. The concept seeks to make jewellery relevant to everyday personal style, alongside Aisshpra’s traditional, bridal and occasion-wear collections.
Leadership on expansion and legacy
Atul Saraf, Director, Aisshpra Gems & Jewels
“Since 1940, our most important achievement has been the trust we have earned across generations. Opening four stores together is a proud milestone, and every new showroom brings the responsibility of preserving that trust.”
Anoop Saraf, Director, Aisshpra Gems & Jewels
“As we enter new markets, Trust, Integrity and Ethics remain our guiding principles. We want customers in every city to experience the same transparency, quality and care that have defined Aisshpra for decades.”
Vaibhav Saraf, Director, Aisshpra Gems & Jewels
“Moving from 16 to 20 stores in one day is a major jump in our network. Our footprint now exceeds 90,000 sq. ft., three additional stores are under construction, and we are working towards 30 stores by March 2028. Bettiah opens the door to Bihar, while our third Lucknow showroom deepens our presence in a key market.”
Saumitra Saraf, Director, Aisshpra Gems & Jewels
“Younger customers increasingly want jewellery that feels contemporary, versatile and easy to wear. Jewel Story brings that proposition to every new showroom, with modern designs spanning 9KT to 22KT.”
Inauguration celebrations and opening offers
The celebrations featured Mouni Roy in Lucknow, Adah Sharma in Bahraich and Ayesha Khan in Mirzapur. The Bettiah inauguration took place in the presence of local dignitaries.
Customers can avail inaugural offers of up to 30% off gold jewellery making charges and diamond value, subject to applicable terms and conditions. Offer validity is to be confirmed.
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