Silver Price Trends and its Impact on the Indian Economy Before and After Covid-19

This study investigates the relationship between silver price trends and the Indian economy, particularly in the context of the COVID-19 pandemic. Before the pandemic, silver prices were influenced by a mix of domestic and global factors, such as investment sentiment, industrial demand, and cultural significance. However, the pandemic brought substantial disruptions to global markets and the Indian economy, causing a sharp drop in silver prices due to reduced industrial activity and investor uncertainty. As economies began to recover, silver prices rebounded, driven by increased industrial demand, government stimulus measures, and relaxed restrictions. The analysis highlights the dual role of silver as a commodity and an economic indicator, emphasizing its cultural and economic importance in India. Notably, the country’s silver imports and exports during the pandemic underwent significant shifts, with exports surging due to international shortages and high prices, which benefitted the Indian economy. Survey data collected from 105 respondents revealed varying perceptions of silver’s value, its role as an investment, and its relationship with economic trends. Findings suggest a general expectation of rising silver prices and continued demand, reflecting optimism about economic recovery. The study underscores the intricate interplay between silver prices and economic factors, including government policies, inflation, and geopolitical tensions. It concludes by emphasizing the importance of understanding these dynamics to predict future trends and formulate strategies to leverage silver’s economic potential in India.