The Resurgence of Silver in Kashmir: A Story of Tradition and Modernity

In the heart of Srinagar’s downtown, Manzoor Zargar stands amidst a treasure trove of silver, a metal rich in history and tradition. The shop exudes the aroma of metal dust and polish, a testament to decades of craftsmanship and dedication.

For over thirty years, Zargar has witnessed the ebb and flow of silver’s popularity, from being a staple in every Kashmiri household to a forgotten relic of the past. However, recent years have seen a remarkable resurgence in the demand for silver, transforming the metal into a coveted commodity once again.

The meteoric rise in silver prices, from ₹17,000 to ₹20,000 per kilogram in the mid-2000s to well above ₹3,00,000 per kilogram in early 2026, has reignited interest in silver as both an industrial and investment asset.

Industry experts attribute this surge to silver’s integral role in energy, electronics, and finance sectors, where its unique properties make it indispensable for various applications.

As global demand for silver continues to soar, the impact is felt keenly in Srinagar, where households are rediscovering the value of their inherited silverware and jewellery. The once dormant silver market is now a hub of activity, with customers flocking to Zargar’s shop to buy, sell, or simply marvel at the transformation of a metal steeped in tradition.

From intricate silver bangles to ornate utensils, every piece tells a story of resilience and foresight, a testament to the enduring allure of silver in Kashmiri life.

As silver takes center stage in the global economy, Zargar’s shop stands as a microcosm of this remarkable journey, where the past meets the present, and silver shines once again with a newfound purpose.