Leading wholesale jewellers have stopped accepting fresh orders for silver ornaments and other items amid huge shortage and subsequent premiums being levied on supply of physical metal.

Jewellers at Zaveri Bazaar in the heart of bullion business in Mumbai are turning down orders for corporate gifting items made of silver due to the escalation of costs.

Rajesh Rokde, Chairman, All-India Gem and Jewellery Domestic Council, said jewellers at Zaveri Bazaar have stopped accepting fresh orders for silver ornaments and bullion due to ashortage of physical silver. The premium on physical silver has surged significantly, reaching up to ₹30,000 per kg, driven by strong demand and limited supply, he said. Renisha Chainani, head of research at Augmont, too said the premium had jumped to ₹30,000 a

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