Agarwal: Silver jewelry offers negligible stored value compared to utensils
Ishendra Agarwal · Understanding Indian consumers & breaking down jewellery brands w/ GIVA Founder Ishendra Agarwal · Feb 16, 2024 · at 10:32
GIVA founder Ishendra Agarwal explains why silver pawn shops do not exist and how Indians historically stored wealth in heavy silver items rather than jewelry.
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“So silver, if you see, has been largely used in utensils and coins. Because there you actually consume a large silver metal. So like if you see the cost of silver, it is around 70,000 rupees a kg. And if you use it for jewelry, in jewelry you will consume at max five grams, 10 grams. So there's no significant value in the jewelry. Versus in utensils and coins you will consume one kg of silver, two kgs of silver. So that will essentially store some wealth.”
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